Should Europeans fear the privatisation of pensions?

Hyde, M, Barton, A, Farrar, S and Moizer, J (2012) 'Should Europeans fear the privatisation of pensions?' Journal of Comparative Social Welfare, 28 (2). pp. 129-138. ISSN 1748-6831

Official URL: https://doi.org/10.1080/17486831.2012.655983

Abstract

Many Europeans fear proposals to privatise their public pension arrangements. They believe that privatisation is necessarily informed by the classical liberal free market model, which, if imported to Europe, would prove to be incompatible with social cohesion and distributive justice. In endorsing privatisation, this article responds to these fears in two ways. First we examine several of the arguments upon which public pensions are premised, and find that they are flawed. Second, drawing upon our own extensive research, we find that several features of mandated private pensions can be compatible with the requirements of the public interest, defined in terms of collectivist values. Provided that they are appropriately designed and regulated, mandated private pensions are a viable alternative to publicly administered retirement income protection. In view of these arguments, Europeans should not fear all privatisation.

Item Type: Article
Keywords: mandated private pensions, rights, financial market stability, transparency, accountability
Divisions: School of Sciences
Identification Number: https://doi.org/10.1080/17486831.2012.655983
Date Deposited: 03 Sep 2020 18:49
Last Modified: 03 Sep 2020 18:49
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