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Pension Strategies in Europe and the United States - MIT Press Scholarship Online
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Pension Strategies in Europe and the United States

Robert Fenge, Georges de Menil, and Pierre Pestieau


This book discusses the demographic challenges facing pension systems in the United States and some developed countries in Europe. Factors affecting the challenges include the speed level of the aging population, previous yet flawed policy initiatives on early retirement, and the extent of pay-as-you-go (PYAG) financing in certain countries. Part One of the book covers the structural features of pay-as-you-go (PYAG) pension systems, which was introduced in Europe in the late 1940s to provide benefits for retirees facing war and economic depression. Part Two covers sustainability brought by eco ... More

Keywords: dependency ratio, life expectancy, retirement age, annuitization of savings, State Earnings-Related Pension Scheme, pay-as-you-go

Bibliographic Information

Print publication date: 2008 Print ISBN-13: 9780262062725
Published to MIT Press Scholarship Online: August 2013 DOI:10.7551/mitpress/9780262062725.001.0001


Affiliations are at time of print publication.

Robert Fenge, editor

Georges de Menil, editor

Pierre Pestieau, editor

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