THE PORTUGUESE PENSIONS SYSTEM AND THE AUSTERITY POLICY THE PORTUGUESE PENSIONS SYSTEM REFORM AND...
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Transcript of THE PORTUGUESE PENSIONS SYSTEM AND THE AUSTERITY POLICY THE PORTUGUESE PENSIONS SYSTEM REFORM AND...
THE PORTUGUESE PENSIONS SYSTEM AND
THE AUSTERITY POLICY
THE PORTUGUESE PENSIONS SYSTEM
REFORM AND THE DEBATE ON PENSIONS AND AUSTERITY
FUNDAMENTAL CHARACTERISTICS
Based on the PUBLIC (STATE) SYSTEM although the law provides for the three pillars:
Public (State) pensions as welfare & pension provision scheme
Non-contributory pensions Limited importance of the private sector
PENSION AGE: 65 years (m/f)
PRESSURE OF THE FINANCIAL SECTOR AND
THE REFORM OF 2001
THE NEW CALCULATION… whole career
FINANCING… diversification
THE REFORM OF 2006 AND THE LIFE
EXPECTANCY – PENSION LINK
THE « SUSTAINABILITY FACTOR »
THE CHANGE IN THE PENSIONS REVIEW RULES
CONVERGENCE OF THE CIVIL SERVICE
PENSIONS REPLACEMENT RATE
Fonte: Comissão Europeia, Livro Branco s/ Pensões
Average pension (euros)
200
400
600
800
1000
1200
1400
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
Privée Fonction Publique
TODAY: THE IMPACT OF THE AUSTERITY
POLICY
THE FREEZING OF / REDUCTION IN RETIREMENT PENSIONS
THE INTEGRATION OF PENSION FUNDS