Jump to ContentJump to Main Navigation
The Varieties of Pension GovernancePension Privatization in Europe$
Users without a subscription are not able to see the full content.

Bernhard Ebbinghaus

Print publication date: 2011

Print ISBN-13: 9780199586028

Published to Oxford Scholarship Online: May 2011

DOI: 10.1093/acprof:oso/9780199586028.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 27 February 2021

The Governance and Regulation of Private Pensions in Europe

The Governance and Regulation of Private Pensions in Europe

(p.351) 13 The Governance and Regulation of Private Pensions in Europe
The Varieties of Pension Governance

Bernhard Ebbinghaus (Contributor Webpage)

Tobias Wiß

Oxford University Press

This comparative chapter by Ebbinghaus and Wiß analyses the governance of supplementary pensions in ten European countries and the scope for state intervention or collective regulation by employers and trade unions. Private occupational and personal pensions combine different features in terms of coverage, benefits, funding rules, supervision, and administration. While the state partially retreated from the public responsibility to finance sufficient and adequate pensions, the need for and importance of state regulation and societal control of private pensions increased. Societal actors like trade unions, employers' associations, and financial services became more important in governing pension systems. Since the pension beneficiaries rely as principals on agents with more financial knowledge, regulation should decrease asymmetric information and limit uneven power distribution. The more pensions are privatized and funded, the more a financial crisis can increase risks for old age income security.

Keywords:   Europe, multipillar pension systems, pension fund governance, principal–agent relations, defined-benefit pensions, defined-contribution pensions, financial crisis, privatization, employers, trade unions

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .