Intersecting inequalities in retirement trajectories under a privatized pension system: Gender, labor force status, and occupational prestige

The relevance of the research is due to the challenges faced by the Ukrainian pension system under martial law. The economic consequences of the war, a decrease in the number of contributors, mass migration and increased defence spending have complicated the functioning of the system. The purpose of the article is to define the main problems of the pension system under martial law and to find ways to solve them, taking into account the prospects for Ukraine’s recovery after the war. The article uses a comprehensive approach to analysis: regulatory and legal analysis, comparative method, analysis of statistical data. The sources of the research are the legislative acts of Ukraine, data of the Pension Fund of Ukraine and scientific publications. The main results of the research include the identification of problems of financial sustainability of the Pension Fund of Ukraine, provision of payments in the temporarily occupied territories, indexation of pensions and implementation of the funded system. The issues of social protection of the military and guarantees for pensioners abroad are highlighted. The author proposes measures to attract international financial assistance, expand digitalisation, support employers in implementing pension programmes and stimulate voluntary contributions from citizens. The article is aimed at further development of the pension system of Ukraine in the context of growing demographic and financial challenges.

The Open Method of Coordination for pensions proposes a reform of the entire pension system: public, occupational and private pension schemes. Its three main objectives are to ensure adequate pension benefits and sustainable and modernized pension systems. The achievement of the objectives can be monitored using a set of indicators published by Eurostat, including the risk of poverty rate for the old age, the pension replacement rate, the level of pension expenditure and the gender differences in the indicators. The aim of this article is to construct a measure that will allow to assess the progress of each EU country in achieving the three objectives and to rank countries each year in the period 2011–2023 based on the Eurostat data. The Hellwig measure of economic development, one of the linear ordering methods, is used. The second objective is to group countries according to the obtained values of measure of development for all years and thus indicate which of them are on a stable path towards achieving the objectives of the Open Method of Coordination.

The study is dedicated to analyzing the impact of population aging on economic systems, particularly in the countries of the European Union, and to identifying innovative mechanisms for adapting business and public governance to these changes. The article examines the key consequences of population aging, such as a declining share of the working-age population, increased pressure on social and pension systems, and slower economic growth. Special attention is given to the development of the silver economy, financial technologies (Fintech), and digital healthcare (telemedicine, wearable devices) as tools to support the quality of life of the elderly. Based on a SWOT analysis, the strengths, weaknesses, opportunities, and threats of implementing digital technologies in healthcare for the older generation are identified. The article substantiates the need to transform internal control, audit, and risk management systems within enterprises in response to demographic challenges. Proposed adaptation strategies include the introduction of flexible forms of employment, knowledge transfer programs, motivational mechanisms for older employees, as well as the integration of demographic risks into corporate management systems. The role of the state is emphasized in providing incentives for continued employment among retirees, developing telemedicine infrastructure, and supporting retraining programs. The findings of the study demonstrate that population aging, in addition to posing challenges, also creates new opportunities for innovative development. An effective combination of financial technologies, adaptive management approaches, and social policy can turn these challenges into a source of stability and competitiveness amid global changes.

The paper discusses the results of a simulation study of the motherhood penalty that leads to lower pensions for women in defined contribution pension systems. The study uses a hybrid simulation model that combines forecasting demographic changes with modeling pension capital accumulation. The models were built using numerical simulation methods, i.e. discrete event simulation and system dynamics, and then fed with real data from 2000 to 2023. The demographic model forecasts the size of age-gender cohorts over a multi-decade horizon, allowing us to forecast the size of the working-age population which, in turn, is the basis for estimating the amount of pension contribution premiums. The annual amount of premiums written determines the values of indexes of pension capital accumulated in individual pension accounts. The simulation model monitors various women’s careers from the time they start working at age 25 until retirement. The simulation experiments are designed to study the causes of the motherhood penalty and determine the amount of the penalty under different scenarios of a woman’s career. The results show that the pension of a woman deciding to have one child will be lower than that of a childless woman by about 25%. For a woman raising two children, the difference drops to about 40%.

The increasing life expectancy and progressively aging populations present substantial challenges for pension systems worldwide. In Poland, while it is increasingly recognized that pensions from the mandatory system will be drastically low, participation in voluntary savings remains insufficient. As a result, the role of voluntary savings is gaining importance; however, low income is often highlighted as the main barrier to engaging in such savings. This study investigates individuals’ readiness to allocate a hypothetical 30% salary increase toward retirement savings and examines the behavioral and demographic determinants influencing this decision. A representative sample of 1,200 economically active Poles aged 18–65 was surveyed using the Computer-Assisted Web Interviewing (CAWI) method. Participants reported both their willingness to save and the specific percentage of the salary increase they would allocate to retirement savings. The findings indicate significant differences in readiness to save between individuals who already engage in voluntary savings and those who do not. Voluntary savers demonstrated both higher readiness levels and a greater allocation of additional income toward retirement goals. Key demographic factors, such as age and education, further influenced these behaviors.

Employee Capital Plans (ECP; in Polish: Pracownicze Plany Kapitałowe — PPK), introduced in Poland in 2019, are a voluntary, long-term savings scheme designed to supplement the public pension system and improve the financial security of the future retirees. The program features automatic enrolment and offers highly favorable conditions for participants, thanks to employer contributions and government subsidies. This article evaluates the performance of savings within the PPK framework from 2020 to 2024, focusing specifically on how the entry date into the program affects investment outcomes. The analysis covers the period from January 1, 2020 to December 2, 2024, and takes into account employee contributions, employer contributions, and state subsidies. The study examines indicators for the individual Target Date Funds (TDF, in Polish: Fundusze Zdefiniowanej Daty — FZD), and averages them for groups of funds with target dates ranging from 2025 to 2060. The study is complemented by a dynamic performance assessment that utilizes a rolling returns methodology. In this analysis, we iteratively calculate the Internal Rate of Return (IRR) for investments that begin on consecutive business days, starting from January 1, 2020, while using a fixed 24-month window for each calculation. By employing rolling returns analysis, this method reduces the impact of selecting a single start and end date on the assessment of investment performance.It also provides a more detailed understanding of how the investment start date influences the results.

The ongoing demographic changes present many challenges to modern pension systems, particularly in Poland, where supplementary savings mechanisms have been introduced to increase future retirement benefits. While annuities are the only instruments guaranteeing protection against longevity risk, their adoption remains limited. This phenomenon is known as the “annuity puzzle.” Our study examines Polish pre-retirees’ attitudes toward annuitisation, focusing on behavioural and contextual factors influencing decisions about pension capital distribution. The research is based on focus groups with participants from academic environment aged 50 and above. Findings highlight low economic awareness, limited understanding of annuities, and a preference for flexible capital management. Key deterrents to annuity adoption include risk aversion, inheritance motives, and a distrust of financial mechanisms. Behavioural insights reveal loss aversion, with participants perceiving the potential loss from early death outweighing the benefits of longevity protection. The study underscores the importance of tailored financial education and independent pension advisory services. It advocates for a gradual annuitisation model that balances flexibility with security, addressing psychological barriers and financial realities. The results also call for systemic interventions, including behavioural nudge and simplified communication from financial institutions, to foster a viable market for annuities in Poland.

Like many European countries, Poland is facing a growing demographic crisis that may soon significantly impact the country’s economic and social stability. Key contributing factors include a persistently low fertility rate, labor migration, and population aging. These phenomena result in reduced human capital, decreased economic competitiveness, and increased pressure on healthcare and pension systems. The article emphasizes the need for a long-term, responsible, and effective pro-family policy as a vital tool for addressing these challenges. The family is recognized as the foundation of demographic resilience, with a particular focus on the role of women as guardians of intangible values and the spiritual dimension of the home. The paper presents an analysis of statistical data and a review of family policy solutions implemented in Poland and selected European countries, offering systemic proposals aimed at boosting fertility and strengthening social capital.

This article provides a comprehensive analysis of demographic well-being over time in post-Soviet states, including the creation of conditions for optimal family planning, birth, and migration, which contribute to increased life satisfaction and achievement of physical, mental, and socio-economic well-being for individuals and their surroundings. The article aims to compare the Commonwealth of Independent States countries using key demographic indicators to identify trends and patterns. Indicators used include the size and structure of the permanent population by age and gender, fertility rates, mortality rates, life expectancies, migration patterns, living standards, pension systems, and housing situations. Key features of post-Soviet nations from 1990 to 2104 are identified through analysis of these indicators. The permanent population dynamics for 2010-2114 are examined, as well as sex and age structures using demographic pyramids. Analysis of mortality rates reveals a general trend of gradual decline in post-soviet states, possibly indicating improved living standards and healthcare systems. Material security indicators, such as subsistence levels, were also examined to understand the basis for family and household formation. Thus, the value of the subsistence minimum for the period 2000–2024 was analyzed. The dynamics of pension provision from 1991 to 2023 are considered. The total volume of the housing stock for 1994–2023 was also considered for the analysis.

ABSTRACT Taiwan’s Labour Insurance Scheme faces a looming financial crisis, prompting urgent discussions about pension reform. A major concern is that reducing pension benefits may exacerbate elderly poverty, particularly among disadvantaged retirees. This paper evaluates the impact of reform proposals on pension quality, measured using three indicators: pension wealth, income replacement rate, and poverty risk. Using administrative data on 1.4 million newly retired workers, we compare the effects of two past government proposals and the Tiered Lifetime Point Pension Reform proposal, which calculates pension benefits based on total contribution points accumulated over a worker’s insured period. This point-based system, integrating a progressive benefit structure similar to that of the U.S. Social Security system, reduces pension expenditures more effectively than the other plans while minimizing adverse effects on low-income retirees. The empirical results further indicate that, among the three reform proposals, the Tiered Lifetime Point Pension Reform yields the smallest gender disparities across all pension quality measures. Overall, our findings suggest that the proposed Tiered Lifetime Point Pension system represents a more equitable, gender-sensitive, and fiscally sustainable approach to pension reform. Accordingly, it may serve as a valuable policy reference for other ageing societies in Asia facing similar demographic and fiscal challenges.

Improving Kazakhstan’s pension system is a strategic task that ensures financial stability and social protection for citizens. Effective and secure investment of the assets of the Unified Accumulative Pension Fund is of particular importance in this process, as the stability of the economy and the security of future payments depend on it. However, problems remain in this area due to insufficient maturity of legal regulation, low transparency and management efficiency.The aim of the study is to identify legal problems and contradictions in the regulation of pension asset investment, as well as to propose effective mechanisms based on international experience. The study analyses the regulatory framework, state control mechanisms, investment policy principles, as well as recommendations from international organisations and the experience of countries with developed pension systems. The study was conducted in three areas: analysis of the legal basis for investment, comparative study of international experience, and legal assessment of transparency, accountability, and risk management. Comparative legal, systemic-structural, and empirical methods were used. The results showed inconsistencies in legislation, weak independent oversight and limited accountability. The predominance of investments in government securities reduces diversification and asset returns. The recommendations of the study are aimed at improving legal regulation, increasing transparency and efficiency in the management of pension assets, which contributes to strengthening public confidence and the sustainability of Kazakhstan’s pension system.

Population ageing is placing increasing pressure on health and social-care systems, especially in countries experiencing rapid demographic change. Traditional elderly-care models that separate medical and social support have become increasingly unsustainable. This study compares and analyzes the pension systems of the UK and Japan to examine how structural and contextual factors influence the sustainability of business models.The study used BMC to analyse how each system creates, delivers and captures value in activities, financing arrangements and partnerships. The PESTLE is used to examine external sectors, including demographic trends, policy environments, technological capacity and economic constraints. The findings suggest that integrated care systems in the United Kingdom prioritise organisational integration and preventive, community-based care. However, all these are hindered by financial constraints, fragmentation of digital infrastructure, and growing demand for services. Japans Long-Term Care Insurance System achieves universal coverage through stable, insurance-based financing, but faces sustainability concerns related to rapid population ageing, labour shortages, and slow digitalization. Overall, the comparison shows that internal business model structures of a sustainable elderly-care system must be consistent with external conditions. Coordinated governance, diversified financing, digital transformation and workforce investment are key complementary supports for the pension systems.

Decisions over the life course, such as stopping school, retiring, or receiving care, are shaped by public policies and have profound implications for health and aging. Yet, studying the impact of these policies is hampered by a lack of standardized and harmonized policy data, making peer review and validation difficult. The Gateway to Global Aging Data addresses these barriers by collecting, harmonizing, and documenting policies over time on education, retirement, and long-term care systems, enabling linkages to longitudinal data from international aging cohorts, thus accelerating research on health and aging. Policies are collected using a strict protocol, documented using a common terminology, reviewed by country experts, and made publicly available. Subsequently, policy measures are linked based on individual characteristics in the international network of health and retirement studies and used to highlight cross-country differences in behavioral responses. Application of the harmonized measures demonstrates that policies influence behavior. This is evidenced by changes in years of schooling through compulsory schooling and educational tracking laws, the timing of retirement through legislation on state pension age, and the use of formal care through legislation on eligibility rules for publicly funded long-term care benefits. Harmonized data on public policies enable research on how changes caused by policymakers shape human behavior and, ultimately, health outcomes. These data can be linked to surveys across the world. The Gateway Policy Explorer's tools enable accountable and robust policy research on the causal impacts of health and aging policies.

Abstract This article examines the complex system of government decision-making involved in reforming the retirement pension system in France between 2019 and 2023. The reform process included tripartite collective negotiations (state, employers, and unions); inter-union negotiations; parliamentary deliberations; negotiations between parliamentary groups, and between parliamentary groups and the government; and input from experts, all against a backdrop of strikes in the transportation and refining sectors. Drawing on this case, the author offers a number of lessons on the complex process of reforming a public policy within a governmental framework.

The relevance of the article is justified by the need to find effective mechanisms to mitigate the effects of population aging and ensure the financial stability of the pension system in the context of demographic changes, which requires studying the role of non-state pension provision in the formation of long-term demographic trends. In view of this, the purpose of the article is to determine the role and impact of the development of non-state pension provision on the formation of long-term demographic trends, in particular, population aging and increasing life expectancy. The methodological basis of the study was the dialectical method, a systematic approach, abstraction and generalization techniques, comparative and statistical analysis, regression analysis. The novelty of the article lies in the comprehensive study of the impact of non-state pension provision on the long-term demographic development of Ukraine, in particular, population aging, financial stability of people of retirement age, labor activity and increasing life expectancy. A model of the dependence of average life expectancy at birth on the level of GDP per capita at purchasing power parity for countries of the world is built. The relationship between the level of economic development and demographic indicators, in particular in European countries and Ukraine, is substantiated. Factors and processes that influence the dynamics of the number of non-state pension funds and life insurance companies in Ukraine, as well as changes in the volume of their assets in 2015-2023, are identified. The distribution of participants in non-state pension funds by age groups and their contribution to the financial stability of the population is analyzed. A regression model of the dependence of pension payments of non-state pension funds on GDP per capita in Ukraine is constructed. The impact of non-state pension provision on demographic indicators, in particular population aging, labor activity and migration processes, is analyzed. Key factors are identified that are crucial for assessing the long-term demographic development of Ukraine and the role of non-state pension provision in shaping the financial stability of the aging population. Measures to stimulate population participation in non-state pension provision to organize the financial stability of the aging population are summarized. The development of non-state pension provision is an important tool for mitigating the effects of population aging, as it contributes to the financial stability of pensioners and reduces the burden on the state pension system. The analysis showed that there is a direct relationship between the level of economic development and the effectiveness of non-state pension provision, which is confirmed by international comparative data. The introduction of incentive measures, such as tax breaks and increasing the financial literacy of the population, is designed to significantly expand citizens’ participation in non-state pension provision and increase their level of social security.

The term “neoliberalism” is an attempt to specify the scope of the definition of “liberalism,” which meaning has become so broad and ambiguous that people who declare themselves to be liberals often have diametrically opposed views on key aspects of social reality . This applies in particular to desirable socio-economic policies, against the backdrop of which differences emerge regarding the scope of market autonomy and state intervention in the economy and social benefits. Supporters of neoliberalism advocate for market regulation to the greatest extent possible and for maximum limitation of state intervention in the socio-economic sphere. The dispute between supporters of neoliberalism and their opponents, has been going on for years on philosophical (e.g., Nozick versus Rawls) and economic (e.g., Hayek, Freedman, Rothbard versus Keynes, Stiglitz, Sen) level, and one of the axes of the dispute is the effective and efficient way to combat poverty. The discourse on neoliberalism extends beyond the narrow circle of specialists involved in interpreting the "organization" of collective life, with politicians and publicists also particularly eager to participate in it. Often, in the heat of ideological disputes, interlocutors use the concept of social care/assistance, treating it as an emanation of the modern welfare state, either worthy of defense from an anti-neoliberal position or criticism if they adopt a neoliberal position. It does not matter much to them whether they use the term social welfare or social assistance, even though the two terms have different meanings (Zalewski 2005). With the establishment and development of the welfare state, social assistance is only one component of the social protection system, and it is not the most important one (Flora, Heidenheimer 1995: 27). From the perspective of public spending, social assistance constitutes a small part of the social protection compared to, for example, the pension system, and we cannot equate social assistance with the entire sphere of social transfers by the state.I would assume that social assistance is an institution not only accepted by neoliberals, but also consistent with their ideological credo, provided, however, that social assistance is limited to a narrow set of low social benefits that do not discourage people from taking up employment. Of course, contemporary social assistance is not limited to benefits paid to the poorest, and the noticeable effects of neoliberalism on social assistance do not necessarily have to be accompanied by similar effects in other elements of the social security system, and vice versa. A good example of this can be seen in Polish social policy in the second decade of the 21st century, with its emphasis on the conditionality and contractualism of social assistance benefits (Poławski, ed. 2018), clearly inspired by neoliberal ideology, accompanied by a withdrawal from the neoliberal pension security project (Zalewski 2014).The aim of the author was to identify manifestations of neoliberal ideology in Poland after 1989 based on the functioning of the social assistance system. The analysis of the functioning of the social welfare system provides evidence not only of the impact of neoliberal ideology, but also of anti-neoliberal ideology on the shape of social policy in Poland after 1989. This is particularly evident when family support policy is included in the analysis, which was done, although only the "Family 500+” (“Rodzina 500+”) program was taken into account.The following text does not contain any assessments of whether it is good or bad for the development and prosperity of Polish society that neoliberal ideology dominated the process of economic transformation and was an important factor in shaping the social structure in Poland after 1989. It focuses on capturing the links between neoliberal ideology and specific solutions adopted in the area of social assistance and family support, pointing to the presence of both neoliberal and anti-neoliberal elements.

This study discusses the significance of pension particularly in the context of unorganized sector workers of India. The Atal Pension Yojana (APY) launched by the Government of India aiming to establish a universal pension system. The scheme allows individuals aged between 18 to 40 years to subscribe for a monthly pension based on their contribution. Under the scheme, one can get pension at the age of 60 years ranging from Rs. 1000 per month to Rs. 5000 per month. The major findings from the study revealing that a significant percentage of respondents are aware about APY, but only a nominal portion of them are subscribers due to various reasons, primarily low monthly income, investment in other means etc. The study examines the influence of socio-economic factors on awareness about APY and finds that monthly income and savings in bank/post office accounts affect awareness, while place of residence does not.

One of the goals of the operation of public pension systems is to protect its participants from poverty. The progress of civilization has caused expectations of the standard of living in retirement to go beyond the fulfillment of purely existential needs. In determining the minimum requirements for household material security in developed countries, basic needs are taken into account, which reflect both the needs for physical survival and the needs for social participation. The purpose of the study was to assess the subjective satisfaction of the consumption needs of pensioners aged 65 and over, for whom the household'ssocial security old-age pension (paid by the Social Security Administration) is the main source of livelihood against the background of the objective measures of poverty and minimum old-age pension used. An analysis using unpublished unit data from the Household Budget Survey for 2005-2020 for households with one or two retirees indicates that the percentage of households in poverty according to relative and absolute measures of poverty has been decreasing and remains low. However, the differentiation of this condition by household size persists, i.e. the situation of one-person households is significantly worse than that of two-person households. The subjective assessment of the satisfaction of needs for selected goods and authors’ estimates of the value of income considered barely sufficient by pensioner households against the background of the minimum pension and the subsistence minimum show the significant scale of unsatisfied needs. Hence, the study of retirees' subjective perceptions of their material situation is important in the context of the expected further relative decline in pensions and the increase in the percentage of pensioners receiving the minimum and below-minimum benefit, as well as the formation of poverty lines and the minimum old-age pension in the future.

His paper analyses the evolution of complementary pension schemes in Brazil, highlighting the structural and performance differences between Closed Pension Entities (EFPCs) and Open Pension Entities (EAPCs). The study adopts a qualitative, exploratory and documentary approach, based on official data and sectoral reports published by ABRAPP, PREVIC, FENAPREVI and SUSEP. Historical series vary according to data availability: for EFPCs, the period from 2001 to 2023 was considered, including analysis of net assets, number of participants and returns adjusted by the IPCA; for EAPCs, participant numbers were examined from 2011 to 2023 and real returns from 2015 to 2023, adjusted by the INPC. These indicators were selected to capture each segment’s adherence to the long-term pension objective and the stability of their financial results. The findings show that EFPCs demonstrate stronger patrimonial consistency and actuarial discipline, supported by robust governance, whereas EAPCs, despite expanding access to pension savings, remain more sensitive to macroeconomic volatility and limited data standardisation. Overall, the strengthening of Brazil’s complementary pension system requires regulatory improvement, greater transparency and enhanced public trust in pension management.