Public Pensions and Implicit Debt: An Investigation for EU Member States Using Ageing Working Group 2021 Projections

Ιmplicit pension debt is attracting increasing attention worldwide as a driver of fiscal dynamics, operating in parallel to the (explicit) National Debt. A prudent examination of a state’s fiscal prospects should ideally encompass both, with due attention paid to the special features of each kind of...

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Autores principales:	Georgios Symeonidis, Platon Tinios, Michail Chouzouris
Formato:	article
Lenguaje:	EN
Publicado:	MDPI AG 2021
Materias:	implicit pension debt explicit debt pension reform ageing report Insurance HG8011-9999
Acceso en línea:	https://doaj.org/article/c1698633a9264d5b8142bca5257f07a7
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id	oai:doaj.org-article:c1698633a9264d5b8142bca5257f07a7
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spelling	oai:doaj.org-article:c1698633a9264d5b8142bca5257f07a72021-11-25T18:56:05ZPublic Pensions and Implicit Debt: An Investigation for EU Member States Using Ageing Working Group 2021 Projections10.3390/risks91101902227-9091https://doaj.org/article/c1698633a9264d5b8142bca5257f07a72021-10-01T00:00:00Zhttps://www.mdpi.com/2227-9091/9/11/190https://doaj.org/toc/2227-9091Ιmplicit pension debt is attracting increasing attention worldwide as a driver of fiscal dynamics, operating in parallel to the (explicit) National Debt. A prudent examination of a state’s fiscal prospects should ideally encompass both, with due attention paid to the special features of each kind of debt. The explosion of government deficits as a result of the COVID-19 pandemic only adds to the urgency of understanding the scale and nature of issues around accounting for contingent liabilities. The reports of the EU Ageing working group, produced and published every three years are used to derive estimates of the stock of outstanding implicit pension debt from flows of projected deficits. This can be performed for all European member states. This paper uses the last two rounds of the Ageing Report (2021, 2018) and derives conclusions on the evolution of pension debt and its correlation to the external debt. The paper concludes that producing comparable estimates of IPD should become an important input in EU policy discussion.Georgios SymeonidisPlaton TiniosMichail ChouzourisMDPI AGarticleimplicit pension debtexplicit debtpension reformageing reportInsuranceHG8011-9999ENRisks, Vol 9, Iss 190, p 190 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	implicit pension debt explicit debt pension reform ageing report Insurance HG8011-9999
spellingShingle	implicit pension debt explicit debt pension reform ageing report Insurance HG8011-9999 Georgios Symeonidis Platon Tinios Michail Chouzouris Public Pensions and Implicit Debt: An Investigation for EU Member States Using Ageing Working Group 2021 Projections
description	Ιmplicit pension debt is attracting increasing attention worldwide as a driver of fiscal dynamics, operating in parallel to the (explicit) National Debt. A prudent examination of a state’s fiscal prospects should ideally encompass both, with due attention paid to the special features of each kind of debt. The explosion of government deficits as a result of the COVID-19 pandemic only adds to the urgency of understanding the scale and nature of issues around accounting for contingent liabilities. The reports of the EU Ageing working group, produced and published every three years are used to derive estimates of the stock of outstanding implicit pension debt from flows of projected deficits. This can be performed for all European member states. This paper uses the last two rounds of the Ageing Report (2021, 2018) and derives conclusions on the evolution of pension debt and its correlation to the external debt. The paper concludes that producing comparable estimates of IPD should become an important input in EU policy discussion.
format	article
author	Georgios Symeonidis Platon Tinios Michail Chouzouris
author_facet	Georgios Symeonidis Platon Tinios Michail Chouzouris
author_sort	Georgios Symeonidis
title	Public Pensions and Implicit Debt: An Investigation for EU Member States Using Ageing Working Group 2021 Projections
title_short	Public Pensions and Implicit Debt: An Investigation for EU Member States Using Ageing Working Group 2021 Projections
title_full	Public Pensions and Implicit Debt: An Investigation for EU Member States Using Ageing Working Group 2021 Projections
title_fullStr	Public Pensions and Implicit Debt: An Investigation for EU Member States Using Ageing Working Group 2021 Projections
title_full_unstemmed	Public Pensions and Implicit Debt: An Investigation for EU Member States Using Ageing Working Group 2021 Projections
title_sort	public pensions and implicit debt: an investigation for eu member states using ageing working group 2021 projections
publisher	MDPI AG
publishDate	2021
url	https://doaj.org/article/c1698633a9264d5b8142bca5257f07a7
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_version_	1718410550352805888

Public Pensions and Implicit Debt: An Investigation for EU Member States Using Ageing Working Group 2021 Projections

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