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<title>Itinera Institute - Issues - Ageing &amp; Pensions</title>
<link>http://www.itinerainstitute.org</link>
<description>Itinera Institute - Issues - Ageing &amp; Pensions</description>
<image>
<url>http://www.itinerainstitute.org/web/sources/img/logo_itinera.jpg</url>
<title>Itinera Institute - Issues - Ageing &amp; Pensions</title>
<link>http://www.itinerainstitute.org</link>
</image>
<copyright>Copyright 2008, Itinera Institute</copyright>
<language>en</language>
<pubDate>Wed, 19 Nov 2008 12:00:00 +0100</pubDate>
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<title>Taking inspiration from Finland to increase the employment rate of our seniors</title>
<description><![CDATA[ In the mid 90s, Finland was far from shining with an extensive use of its mature labour forces. However, by making active ageing one of the priorities of its employment policy, it is at present one of the European leaders regarding the participation of seniors in the labour market. Naïm Cordemans and Jean Hindriks analyse the policies led by Finland and invite Belgian politics to take inspiration from it.]]></description>
<pubDate>Wed, 19 Nov 2008 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/taking-inspiration-from-finland-to-increase-the-employment-rate-of-our-seniors/</link>
<guid>http://www.itinerainstitute.org/en/_paper/taking-inspiration-from-finland-to-increase-the-employment-rate-of-our-seniors/</guid>
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<title>Beyond Copernicus: From Confusion to Consensus?: a Roadmap for an better Government-PRESENTATION </title>
<description><![CDATA[ The 2000 Copernicus reform has faded away before flourishing. Belgium has the highest public spending and public employment in the OECD and still the relative quality and quantity of public services remain disappointing.  With so many challenges ahead such as globalisation, population aging, the race for talents, the digital revolution, it is urgent to send a wake-up call for a government that is steering and not rowing. Jean Hindriks makes the diagnosis and suggests several “quick wins”.]]></description>
<pubDate>Tue, 04 Nov 2008 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/beyond-copernicus-from-confusion-to-consensus-a-roadmap-for-an-better-government-presentation/</link>
<guid>http://www.itinerainstitute.org/en/_paper/beyond-copernicus-from-confusion-to-consensus-a-roadmap-for-an-better-government-presentation/</guid>
<enclosure url="http://www.itinerainstitute.org/upl/1/default/doc/Microsoft%20PowerPoint%20-%2020081029A-%20Efficiency%20presentation%20Final%20[Compatibility%20Mode].pdf" length="1774358" type="application/pdf" />
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<title>How Is the Economic Turmoil Affecting Older Workers</title>
<description><![CDATA[ This paper from the Urban Institute examines the impact of the ongoing economic turmoil on retirement savings, home values, and retirement decisions. The slumping stock market, falling housing prices, and weakening economy have serious repercussions for older Americans who are approaching retirement or already retired. More and more older adults are working to bolster their retirement incomes, but the rising unemployment rate limits their prospects. In Belgium, the turmoil may also incite older workers to work later.]]></description>
<pubDate>Fri, 17 Oct 2008 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/how-is-the-economic-turmoil-affecting-older-workers/</link>
<guid>http://www.itinerainstitute.org/en/_paper/how-is-the-economic-turmoil-affecting-older-workers/</guid>
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<title>The State of the Union is lamentable</title>
<description><![CDATA[ Marc De Vos parodies the annual Belgian “State of the Union” and declares it to be lamentable. The federal budget is shocking.]]></description>
<pubDate>Thu, 16 Oct 2008 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/the-state-of-the-union-is-lamentable/</link>
<guid>http://www.itinerainstitute.org/en/_paper/the-state-of-the-union-is-lamentable/</guid>
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<title>How to increase old workers employment rate?</title>
<description><![CDATA[ This paper investigates the influences on retirement behavior among older workers. It is found that increases in all categories of wealth (pension, housing equity and other financial wealth) raise the probability of retiring, while good earnings prospects induce continued employment. These results suggest that increasing the employment rate of older workers in Belgium can be done through making work pay more at an old age or increasing pension allocations for those who retire later.]]></description>
<pubDate>Mon, 06 Oct 2008 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/how-to-increase-old-workers-employment-rate/</link>
<guid>http://www.itinerainstitute.org/en/_paper/how-to-increase-old-workers-employment-rate/</guid>
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<title>The financial capitalism subject to scathing criticism</title>
<description><![CDATA[ Banks will have to go back to a human level, what has not been the case for a long time with the modern American banking model. It is also going to affect the wages in the banking sector. Another lesson that we have to draw is that the complete faith in very sophisticated models contains enormous risks. It also brings to light the reasons for which the "nice" Belgian banks are affected by the crisis.]]></description>
<pubDate>Fri, 03 Oct 2008 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/the-financial-capitalism-subject-to-scathing-criticism/</link>
<guid>http://www.itinerainstitute.org/en/_paper/the-financial-capitalism-subject-to-scathing-criticism/</guid>
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<title>Break the Belgian Paradox</title>
<description><![CDATA[ Marc De Vos explains that small countries are typically homogeneous and flexible, while Belgium is heterogeneous and rigid precisely because it is small. This Belgian paradox needs to be broken to avoid the current institutional crisis from degenerating into years of political instability. An institutional catharsis is needed to secure the social and economic future.]]></description>
<pubDate>Mon, 29 Sep 2008 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/break-the-belgian-paradox/</link>
<guid>http://www.itinerainstitute.org/en/_paper/break-the-belgian-paradox/</guid>
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<title>Slender, obese or unconstrained? An analysis of public employment in Belgium between 2001 and 2007</title>
<description><![CDATA[ Public employment did grow by 11.75% in Belgium while the growth of total employment was 6.1%. In Flanders, public employment is bigger than inFlanders How sustainable is this evolution?']]></description>
<pubDate>Mon, 29 Sep 2008 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/slender-obese-or-unconstrained-an-analysi-of-public-employment-in-belgium-between-2001-and-2007/</link>
<guid>http://www.itinerainstitute.org/en/_paper/slender-obese-or-unconstrained-an-analysi-of-public-employment-in-belgium-between-2001-and-2007/</guid>
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<title>Ageing, demographic uncertainty and its economic impact</title>
<description><![CDATA[ Because of ageing, the ratio of retirees to workers is going to increase steadily, which is going to increase pressure on the public finances and the economy in general in the decades to come. Nevertheless, because of the uncertainty regarding future demographic developments, the exact extend of the problem is unknown. This impedes on a country’s budgetary strategy: how much less are we aloud to spend? How will economic uncertainty be affected and how will that affect investments? In this paper; the Dutch Plan bureau makes an attempt to estimate the role of uncertainty and discuss possible outcomes.]]></description>
<pubDate>Mon, 22 Sep 2008 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/ageing-demographic-uncertainty-and-its-economic-impact/</link>
<guid>http://www.itinerainstitute.org/en/_paper/ageing-demographic-uncertainty-and-its-economic-impact/</guid>
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<title>German reforms pay off</title>
<description><![CDATA[ A recent OECD study found that only Italy and Turkey do worse than Belgium regarding the participation of elder employees on the labour market. So, if Belgium wants to control the costs of the ageing population, activating these employees will be one of the most important challenges. We can learn something from our German neighbours in this respect, as Germany has succeeded in raising the participation of elder employees with 15% in seven years (up to 52%). On top of that, German unemployment fell with 1.2 million between 2005 and 2007. The authors of this paper conclude that these excellent results stem from reforms that made the labour market more flexible – and not solely from the upswing of the economy in the recent years – and point to a number of good practices. A must read for Belgian policy makers in other words.]]></description>
<pubDate>Fri, 22 Aug 2008 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/german-reforms-pay-off/</link>
<guid>http://www.itinerainstitute.org/en/_paper/german-reforms-pay-off/</guid>
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<title>A common framework for blue collar and white collar workers implies new labour market policies</title>
<description><![CDATA[ Marc De Vos calls for a common legal framework but stresses that it involves fundamental questions for better labour market performance. The impasse on the common framework hides a deficit of vision on labour market policy.]]></description>
<pubDate>Wed, 20 Aug 2008 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/a-common-framework-for-blue-collar-and-white-collar-workers-implies-new-labour-market-policies/</link>
<guid>http://www.itinerainstitute.org/en/_paper/a-common-framework-for-blue-collar-and-white-collar-workers-implies-new-labour-market-policies/</guid>
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<title>Social fraud in social security</title>
<description><![CDATA[ Belgium is accumulating victories in its battle against social fraud. This is good for the state, and good for our social system.]]></description>
<pubDate>Tue, 12 Aug 2008 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/social-fraud-in-social-security/</link>
<guid>http://www.itinerainstitute.org/en/_paper/social-fraud-in-social-security/</guid>
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<title>Pension system reform: Belgium lags behind most other OECD countries</title>
<description><![CDATA[ In response to population ageing, pension spending effort is set to increase significantly over the coming decades in OECD countries. But, as this IZA paper recalls, pension policy is challenging and controversial, since it involves long-term decisions in the face of numerous short-term political pressures. Nevertheless, in many OECD countries, much has been done since the early 1990s to make pension systems fit for the future. Belgium appears as an exception: it has not led any major pension reform and still offers many routes for early exit from the labor market. With the baby-boomer generation reaching retirement soon and the perspective of a squeezing labour force, wouldn’t it be high time to act?]]></description>
<pubDate>Fri, 01 Aug 2008 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/pension-system-reform-belgium-lags-behind-most-other-oecd-countries/</link>
<guid>http://www.itinerainstitute.org/en/_paper/pension-system-reform-belgium-lags-behind-most-other-oecd-countries/</guid>
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<title>Employment risks and opportunities for an ageing workforce</title>
<description><![CDATA[ This WZB article provides a detailed analysis of the employment situation of older workers (55-64 years) in the EU member states. Highlighting country differences, the authors draw the conclusions that this labour market challenge can be characterised to a large extent as a gender problem, that labour market policy for an ageing workforce must start much earlier than just with older people and that their employment situation can to a great extent be sought in the general economic parameters and especially in the degree of employment growth in the service sector. With a senior employment rate of 34,4%, Belgium is in the bottom league by European standards and needs to react quickly to strive towards the Stockholm targets of 50% by 2010.]]></description>
<pubDate>Fri, 25 Jul 2008 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/employment-risks-and-opportunities-for-an-ageing-workforce/</link>
<guid>http://www.itinerainstitute.org/en/_paper/employment-risks-and-opportunities-for-an-ageing-workforce/</guid>
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<title>The silver lining</title>
<description><![CDATA[ Marc De Vos hopes that the ongoing political troubles in Belgium will lead to a workable state and efficient government. He points out that the Flemish consensus for more devolution hides great differences on policy views. Policy reform, not devolution per se, is the only silver lining of the current institutional crisis.]]></description>
<pubDate>Thu, 24 Jul 2008 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/the-silver-lining/</link>
<guid>http://www.itinerainstitute.org/en/_paper/the-silver-lining/</guid>
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<title>To &#8220;flexirationalise&#8221; the public sector</title>
<description><![CDATA[ The age average in the public sector is generally higher than in the private one. So, according to this OECD report, to attract and to retain capacities in the public service could indeed represent a severe challenge in the years to come. To increase its attractiveness, the report favours the flexibility in employment rather than the increase of the public pensions that it considers as an expensive and insufficiently targeted approach. If Belgium still has progress to make in comparison with it’s neighbours, it should neither lose sight that the retirement of numerous civil servants also represents a tremendous opportunity to rationalize public employment.]]></description>
<pubDate>Fri, 18 Jul 2008 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/to-flexirationalise-the-public-sector/</link>
<guid>http://www.itinerainstitute.org/en/_paper/to-flexirationalise-the-public-sector/</guid>
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<title>Break the budgetary deadlock on ageing</title>
<description><![CDATA[ Marc De Vos argues for a policy strategy for new wealth creation and new social protection. Belgium is missing its appointment with demographic history and needs to do more than a minimalist budgetary policy.
]]></description>
<pubDate>Wed, 09 Jul 2008 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/break-the-budgetary-deadlock-on-ageing/</link>
<guid>http://www.itinerainstitute.org/en/_paper/break-the-budgetary-deadlock-on-ageing/</guid>
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<title>Specific-training worse than general training for the senior employment rate</title>
<description><![CDATA[ Many studies have shown that employees with firm-specific skills are more likely to be covered by employer-sponsored pension schemes than workers with general skills. Following this, this IZA paper tests the effect of trainings on retirement, and finds that workers who participated in firm-specific training in their early careers retire earlier than workers with a general training background. This indicates that shared investments in firm-specific training are embedded in implicit contracts that induce early retirement and suggests that training participation should be encouraged at a broader level than at the firm one.   
]]></description>
<pubDate>Fri, 04 Jul 2008 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/specific-training-worse-than-general-training-for-the-senior-employment-rate/</link>
<guid>http://www.itinerainstitute.org/en/_paper/specific-training-worse-than-general-training-for-the-senior-employment-rate/</guid>
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<title>How to combine intensification of the work and population ageing?</title>
<description><![CDATA[ In industrialised nations, the current trend is an intensification of the work, by accumulation of diverse temporal constraints. At the same time, the population is ageing and the age structure of the working population is changing. This article of the “centre d’étude de l’emploi” underlines the challenge that the combination of these two tendencies represents. The authors approach the fact that the senior workers are less resistant to temporal pressure at work. They insist on the necessity of guaranteeing to seniors a suited working environment if one wants to promote longer professional careers.]]></description>
<pubDate>Fri, 27 Jun 2008 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/how-to-combine-intensification-of-the-work-and-population-ageing/</link>
<guid>http://www.itinerainstitute.org/en/_paper/how-to-combine-intensification-of-the-work-and-population-ageing/</guid>
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<title>It&#8217;s the economy, stupid!</title>
<description><![CDATA[ Marc De Vos sees insufficient economic growth as the root cause of the problems of purchasing power and low pensions. He notices a new Belgian paradox of insufficient means for our needs and too much expenditure for our capacity. Real policy reform is indispensable to stop further relative decline.]]></description>
<pubDate>Wed, 25 Jun 2008 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/its-the-economy-stupid/</link>
<guid>http://www.itinerainstitute.org/en/_paper/its-the-economy-stupid/</guid>
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<title>Red, orange and green lights for end-of-career policies</title>
<description><![CDATA[ According to the 2001 Stockholm objectives, 50% of the 55- to 64-year olds should be working by 2010. To monitor in- and output incentives, a performance measurement system is required, a scorecard for example, pretty much as this WSE Steunpunt publication. The authors notice very little structural progress, and with a mere 31% of the 55- to 64-year olds working in Belgium, more drastic measures are becoming inevitable. A lot of work needs to be done.
]]></description>
<pubDate>Mon, 16 Jun 2008 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/red-orange-and-green-lights-for-end-of-career-policies/</link>
<guid>http://www.itinerainstitute.org/en/_paper/red-orange-and-green-lights-for-end-of-career-policies/</guid>
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<title>Age and the labour market</title>
<description><![CDATA[ Marc De Vos sketches the impact of ageing on the labour market and shows how the lamentable position of older workers on the Belgian labour market is untenable. He argues for a new paradigm and for a mobilisation that breaks open the Generation Pact for a “New Deal” on age and the labour market.]]></description>
<pubDate>Fri, 13 Jun 2008 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/age-and-the-labour-market/</link>
<guid>http://www.itinerainstitute.org/en/_paper/age-and-the-labour-market/</guid>
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<title>Early retirement: incentives and remedies</title>
<description><![CDATA[ This C.D. How Institute publication warns for structures of defined-benefit pension plans that may create incentives for early retirement in Canada. Individuals may indeed have incentives to retire at the age when unreduced benefits are first available. Obviously, in the context of ageing, this may aggravate its effects. The author advocates as possible remedies the use of penalties, in the form of reduced pensions for early retirement, and flexibility in pension arrangements that reflect the preferences of workers and employers.]]></description>
<pubDate>Mon, 09 Jun 2008 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/early-retirement-incentives-and-remedies/</link>
<guid>http://www.itinerainstitute.org/en/_paper/early-retirement-incentives-and-remedies/</guid>
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<title>Implementing reforms and adapting behaviours can transform ageing into a real opportunity</title>
<description><![CDATA[ According to this policy brief of the European Centre, ageing can become a real opportunity to develop even faster and with a greater extent of social cohesion across generations if societies prepare it well and much in advance. It is stressed that public policies regarding pension, health, long-term care, employment, migration, integration and infrastructure development all need to be adapted to account for population ageing issues. However, according to the author, the private sector and the civil society as well as the individuals concerned will also be key actors in adapting to the new situation and in coming up with innovations that could provide solutions to this challenge. While it is high time for Belgian public authorities to implement reforms, this suggests Belgian companies and citizen should also start reviewing their attitudes.]]></description>
<pubDate>Mon, 02 Jun 2008 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/implementing-reforms-and-adapting-behaviours-can-transform-ageing-into-a-real-opportunity/</link>
<guid>http://www.itinerainstitute.org/en/_paper/implementing-reforms-and-adapting-behaviours-can-transform-ageing-into-a-real-opportunity/</guid>
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<title>Let&#8217;s rethink our pension system</title>
<description><![CDATA[ In the context of globalisation and ageing, everybody agrees that short term measures have no future. Since 1960 the average pension length has gone from 8 to more than 20 years. It is expected that in the coming 40 years there will be tree times less actives for every pensioner. Ageing is an insurmountable burden for the future generations. And meanwhile it seems like our government is definitively temporarily. There are however simple solutions, as the Swedish model has shown. Ageing is less a demographic or economic problem than it is a political one. We have to act fast to maintain the vital intergenerational solidarity and rethink our pension system to avoid the clash of… generations.]]></description>
<pubDate>Fri, 23 May 2008 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/repensons-nos-pensions/</link>
<guid>http://www.itinerainstitute.org/en/_paper/repensons-nos-pensions/</guid>
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<title>Demography is destiny</title>
<description><![CDATA[ Marc de Vos offers perspectives on the new demographic predictions for Belgium and warns that structural scarcity on the labour market can engender a real workforce crisis. He pleads for a mobilisation that includes selective immigration but warns that immigration is not a magical solution and that it implies long term consequences.]]></description>
<pubDate>Wed, 14 May 2008 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/demography-is-destiny/</link>
<guid>http://www.itinerainstitute.org/en/_paper/demography-is-destiny/</guid>
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<title>Pension indexation VS the cost of ageing: An inevitable trade-off ?</title>
<description><![CDATA[ Since large numbers of households prepare to retire, rapidly-aging economies will experience a surge in savings, which will depress world real interest rates in the next three decades. According to this IMF Working Paper, this will result in higher capital-labour ratios - since declining interest rate reduces the cost of capital – and, in fine, in increased wages – since workforce will be relatively scarcer and labour will be more capital intensive. Higher wages, in turn, will be passed on to pension benefits, exacerbating aging-related fiscal pressure. The conclusion of the author is that pension reforms, particularly those that change the indexation of pensions from wages to prices, are highly desirable since they provide substantial macro-insurance against long-run declines in world interest rates. Since higher wages will imply higher contributions, this would definitely help coping with ageing, while maintaining the retiree standard of living.
]]></description>
<pubDate>Tue, 13 May 2008 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/pension-indexation-vs-the-cost-of-ageing-an-inevitable-trade-off/</link>
<guid>http://www.itinerainstitute.org/en/_paper/pension-indexation-vs-the-cost-of-ageing-an-inevitable-trade-off/</guid>
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<title>Can faster economic growth bail out retirement programs?</title>
<description><![CDATA[ According to this Paper of the Urban Institute, economic growth is highly desirable to face the challenge of an ageing population since it increases the tax revenues and makes the society suffer less from higher tax burden or slower benefits growth. However, the authors think that growth in the US cannot solve the long-run budgetary problems of ageing, since health care expenses and other entitlements are narrowly linked to economic dynamism.  They stress that, concerning the US, reforms leading to significant reductions in the growth of pension and health benefits (or increases in tax burdens) are required. In Belgium however, unless we move to ever more welfare adjustment, we still have scope for saving social protection; but if and only if we make the necessary reforms. 
]]></description>
<pubDate>Fri, 09 May 2008 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/can-faster-economic-growth-bail-out-retirement-programs/</link>
<guid>http://www.itinerainstitute.org/en/_paper/can-faster-economic-growth-bail-out-retirement-programs/</guid>
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<title>Years of service do not protect low-wage workers</title>
<description><![CDATA[ Instead of raising retirement age, tying retirement benefit eligibility to years of services has often been offered as a solution to population ageing, since it would better protect lower-wage workers who start their careers relatively early and work more years prior to retirement than higher wage workers. However, according to this paper of the Urban Institute, men and woman with the least education (and thus often the lowest salary) also work the least, since early start is offset by higher disability rates and greater employment volatility. For the authors, years of service are consequently not likely to provide an effective way to protect the lowest-wage workers. This suggests the prominent need to increase the employability of low-educated workforce.
]]></description>
<pubDate>Fri, 09 May 2008 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/years-of-service-do-not-protect-low-wage-workers/</link>
<guid>http://www.itinerainstitute.org/en/_paper/years-of-service-do-not-protect-low-wage-workers/</guid>
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<title>The Belgian social model is not  a model anymore</title>
<description><![CDATA[ Marc De Vos gives critical reflections on the unions and mutual funds call to maintain the so called “Belgian social model”. He points out that this model has been under existential pressure for over thirty years and that it can only survive through reform.
]]></description>
<pubDate>Fri, 02 May 2008 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/the-belgian-social-model-is-not-anymore-a-model/</link>
<guid>http://www.itinerainstitute.org/en/_paper/the-belgian-social-model-is-not-anymore-a-model/</guid>
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<title>Is Belgium prepared for the cost of ageing?</title>
<description><![CDATA[ Ageing inevitably increases the pressure on the resources of the social security system and calls for adequate policy reforms. While Belgium is no doubt in a better position do deal with aging that it was a decade ago, it is far from prepared to meet the challenges of the projected rise in the budgetary costs of aging. This paper and presentation from IMF economist Luc Everaert takes a critical look at the existing strategy to deal with the projected budgetary costs of aging. It estimates the costs of delaying reform, highlights the magnitude of the implementation gaps so far, and describes the tensions and synergies between the different components of the strategy required to deal with aging. Against this background, and based on cross-country experience, it also provides some suggestions about the course ahead.
]]></description>
<pubDate>Fri, 28 Mar 2008 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/isbelgiumpreparedforthecostofageing/</link>
<guid>http://www.itinerainstitute.org/en/_paper/isbelgiumpreparedforthecostofageing/</guid>
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<title>Is Belgium prepared for the cost of ageing? - Presentation</title>
<description><![CDATA[ Luc Everaert (IMF) gives a critical look at the existing strategy of Belgium to deal with aging. He warns against every delay or postponement of the reforms and provides some suggestions of new political options. 
]]></description>
<pubDate>Fri, 28 Mar 2008 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/isbelgiumpreparedforthecostofageingpres/</link>
<guid>http://www.itinerainstitute.org/en/_paper/isbelgiumpreparedforthecostofageingpres/</guid>
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<title>From words to action</title>
<description><![CDATA[ Marc De Vos welcomes the Solidarity Pact which the regional and federal employer organisations have collectively proposed. He supports the basic goal of more growth and more jobs for better solidarity. But missing are the concrete steps that employers and their organisations themselves are able and willing to take to realize this goal.]]></description>
<pubDate>Tue, 18 Mar 2008 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/from-words-to-action/</link>
<guid>http://www.itinerainstitute.org/en/_paper/from-words-to-action/</guid>
</item>
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<title>Ageing: Fatality or Opportunity?</title>
<description><![CDATA[ Marc De Vos addresses the causes and consequences of ageing. He offers a critical appraisal of the Belgian response to ageing and argues for an alternative growth strategy. Ageing offers opportunities to improve the social and economic performance of Belgium. Only when we fail to grasp these opportunities will ageing become a fatality.]]></description>
<pubDate>Mon, 17 Mar 2008 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/ageing-fatality-or-opportunity/</link>
<guid>http://www.itinerainstitute.org/en/_paper/ageing-fatality-or-opportunity/</guid>
</item>
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<title>Belgium is running behind in its budgetary response to ageing</title>
<description><![CDATA[ This year’s Belgian public finances are not doing that well – alarming even according to the Plan Bureau. Especially the costs related to ageing are insufficiently anticipated: without budgetary surpluses these costs would have to decrease by one fourth through structural reforms: activate more people, have them work longer and have the health care costs that are independent from ageing financed by future generations. ]]></description>
<pubDate>Fri, 07 Mar 2008 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/belgium-is-running-behind-in-its-budgetary-response-to-ageing/</link>
<guid>http://www.itinerainstitute.org/en/_paper/belgium-is-running-behind-in-its-budgetary-response-to-ageing/</guid>
</item>
<item>
<title>Ageing blues</title>
<description><![CDATA[ Belgium is running behind in its budgetary strategy to cope with the cost of an ageing population. Marc De Vos explains that ageing requires both a budgetary strategy and policy reform. The predictions of the cost of ageing by the official Belgian committee on ageing are based on premises that imply social and economic reforms.]]></description>
<pubDate>Wed, 05 Mar 2008 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/ageingblues/</link>
<guid>http://www.itinerainstitute.org/en/_paper/ageingblues/</guid>
</item>
<item>
<title>Pension Reform, retirement and life-cycle unemployment</title>
<description><![CDATA[ It is now widely accepted that in the absence of reform, pension spending will grow to unprecedented levels. This paper investigates the measures that preserve labor market incentives and studies the potential economic impacts of the measures recently implemented in Austria. In the long-run, these latter will produce a significant GDP gain, they might postpone the average age of retirement by almost one year, boost labor market participation of older workers and offer significant aggregate welfare gains. There is inspiration to be taken for Belgium…    ]]></description>
<pubDate>Mon, 11 Feb 2008 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/pension-reform-retirement-and-life-cycle-unemployment/</link>
<guid>http://www.itinerainstitute.org/en/_paper/pension-reform-retirement-and-life-cycle-unemployment/</guid>
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<title>Early retirement does not create jobs for younger workers</title>
<description><![CDATA[ The assumption that early retirement provides additional job opportunities for younger workers has been at the core of the Belgian labour market policy for decades. In this IMF paper, four economists of the University of Liège give the death blow to this “lump-of-labour” idea. On the macro level of the labour market they indicate a negligible link between elderly retirement and activity among the young and prime-age populations. The nature of youth unemployment in Belgium is rather the result of structural weaknesses in the areas of education, unemployment compensation and wage formation. A limitation of their research is the lack of attention for large regional differences and their causes.
]]></description>
<pubDate>Fri, 08 Feb 2008 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/early-retirement-does-not-create-jobs-for-younger-workers/</link>
<guid>http://www.itinerainstitute.org/en/_paper/early-retirement-does-not-create-jobs-for-younger-workers/</guid>
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<title>The challenge of population ageing in Ireland</title>
<description><![CDATA[ Also the European growth champion faces the challenge of an ageing population. This IMF publication recommends a small fiscal surplus to prepare for long-term spending challenges. Otherwise, Ireland risks an escalating public debt after 2035. The cost of ageing will be slightly lower in Belgium but our country still has a high public debt. As to Belgium, this publication suggests that our country has no other option that building up a fiscal surplus.]]></description>
<pubDate>Mon, 04 Feb 2008 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/the-challenge-of-population-ageing-in-ireland/</link>
<guid>http://www.itinerainstitute.org/en/_paper/the-challenge-of-population-ageing-in-ireland/</guid>
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<title>The Future of the Belgian Welfare State: Pensions and Health Care</title>
<description><![CDATA[ The Belgian social security system is more and more submitted to budgetary constraints. At a conference on the future of the welfare state, Marc De Vos offers reflections and perspectives on the past, present, and evolution of pensions and healthcare in Belgium. Change to improve is for him the motto of the future.]]></description>
<pubDate>Thu, 31 Jan 2008 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/the-future-of-the-belgian-welfare-state-pensions-and-health-care/</link>
<guid>http://www.itinerainstitute.org/en/_paper/the-future-of-the-belgian-welfare-state-pensions-and-health-care/</guid>
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<title>The International Monetary Fund rings the alarm bell for Belgium</title>
<description><![CDATA[ In its yearly report on Belgium the International Monetary Fund (IMF) urges policymakers to take serious budgetary and socio-economic measures. With a slowing economy and lack of budgetary margin Belgium needs restrictions on government expenditures as well as structural reforms. The IMF recommends making sure that health care costs do not grow more rapidly than the economy, continuing wage moderation efforts in spite of a rising cost of life, eliminating certain subsidies, reforming unemployment insurance with time limitations on unemployment benefits and making collective wage bargaining more flexible.]]></description>
<pubDate>Thu, 31 Jan 2008 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/the-international-monetary-fund-rings-the-alarm-bell-for-belgium/</link>
<guid>http://www.itinerainstitute.org/en/_paper/the-international-monetary-fund-rings-the-alarm-bell-for-belgium/</guid>
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<title>The International Monetary Fund sounds a wake-up call for Belgium</title>
<description><![CDATA[ Marc De Vos gives perspectives on the recent report from the International Monetary Fund on Belgium. He concludes that the institutional crisis is blocking structural socioeconomic reforms that are both urgent and necessary.]]></description>
<pubDate>Thu, 31 Jan 2008 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/the-international-monetary-fund-sounds-wake-up-call-for-belgium/</link>
<guid>http://www.itinerainstitute.org/en/_paper/the-international-monetary-fund-sounds-wake-up-call-for-belgium/</guid>
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<title>Regions immune for ageing?</title>
<description><![CDATA[ The prospect of ageing is a frequently cited argument to underpin the necessity of a new state reform in Belgium. This report of the social and economic council of Flanders (SERV) shows that, in the current institutional context, ageing is a problem for the Belgian federal government, not for the Flemish government. The SERV calculations suggest that the ageing costs for the Flemish government only slightly increase towards 2050, while the budgetary pressure of the federal ageing costs becomes ponderous towards that date. The SERV believes that the federal government cannot build up the necessary reserves on its own and suggests that Flanders can give a hand to the federal government with additional budgetary means.]]></description>
<pubDate>Tue, 29 Jan 2008 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/regions-immune-for-ageing/</link>
<guid>http://www.itinerainstitute.org/en/_paper/regions-immune-for-ageing/</guid>
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<title>Ageing is not a fatality</title>
<description><![CDATA[ In our country ageing is seen as a threat for our pensions and health system. According to the Institut Montaigne ageing is not a fatality. Another approach more offensive is possible. As far as this is concerned, Japan might be a good example. Following the Japanese example, Montaigne gives 8 concrete propositions in order to transform ageing into a potential source of growth. Among others, Montaigne proposes to develop a more dynamic labour market for young seniors by abolishing the age limit and all the early retirement mechanisms. According to the authors the healthcare system must also change. A possible solution is to act in favor of cheaper solutions such as home care.  
Transforming ageing into an opportunity is necessary in order to face tomorrow’s challenges.]]></description>
<pubDate>Wed, 09 Jan 2008 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/ageing-is-not-a-fatality/</link>
<guid>http://www.itinerainstitute.org/en/_paper/ageing-is-not-a-fatality/</guid>
</item>
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<title>All the Belgians are not equal as far as pensions are concerned</title>
<description><![CDATA[ One Belgian out of five is retired but his or her condition strongly depends on status and gender. This is the result of this new study by the KULeuven and the Federal Public Service Social Security. For example, a woman who used to be self-employed receives almost 11 times less than a past civil servant. Together with ageing, the huge difference between the pension’s regimes is an additional factor arming the implementation of a pension’s system affordable, fair and sufficient for the 21st century.]]></description>
<pubDate>Fri, 14 Dec 2007 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/all-the-belgians-are-not-equal-as-far-as-pensions-are-concerned/</link>
<guid>http://www.itinerainstitute.org/en/_paper/all-the-belgians-are-not-equal-as-far-as-pensions-are-concerned/</guid>
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<title>Unemployed despite increasing shortage</title>
<description><![CDATA[ Slowly but surely, the combination of ungreening and ageing transforms the labour market. What does increasing shortage on the labour market imply for the evolution of unemployment? Without ambitious reforms unemployment in the future is rather threatened. As long as labour does not pay off, the low-skilled remain outsiders. But also the high-skilled can suffer.]]></description>
<pubDate>Wed, 12 Dec 2007 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/unemployed-despite-increasing-shortage/</link>
<guid>http://www.itinerainstitute.org/en/_paper/unemployed-despite-increasing-shortage/</guid>
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<title>Ageing does not rime with innovation</title>
<description><![CDATA[ The effects of ageing on our economy go beyond a “simple” retirement financing problem. Innovation is also an issue. This CESifo working paper demonstrates that there is a positive link between the working age population and the number of startups. Less innovation and creativity, this is certainly not good news for the future economics growth in an ageing Belgium.]]></description>
<pubDate>Fri, 09 Nov 2007 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/ageing-does-not-rime-with-innovation/</link>
<guid>http://www.itinerainstitute.org/en/_paper/ageing-does-not-rime-with-innovation/</guid>
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<title>Can migration save ageing?</title>
<description><![CDATA[ Immigration raises the population of a country. But what is its impact on ageing and its financing? Almost zero according to the Center for Immigration Studies who raised the question for the United States. Even if migrants are young, they get older and do not reverse the age pyramid. As ageing will not be compensated by increased immigration, genuine policy reforms will be needed to address its budgetary implications. The study demonstrates how raising the retirement age can be a very effective measure.]]></description>
<pubDate>Mon, 29 Oct 2007 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/can-migration-save-ageing/</link>
<guid>http://www.itinerainstitute.org/en/_paper/can-migration-save-ageing/</guid>
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<title>Belgian healthcare policy is not adapted to grey migration.</title>
<description><![CDATA[ Migration and ageing are no isolated phenomena: immigrants/foreigners are increasingly part of the collective ageing of our society, causing new integration problems. This study of the King Baudouin Foundation investigates the impact of this evolution on both the host community and people of foreign origin. In terms of social assistance, health care and social protection, host country Belgium has not always carried out the adaptations which the migrant population considers as crucial. The study warns for “copy-pasting” our own model of elderly care. Autonomy is an important value for elderly of foreign origin, whereas indigenous elderly rather consider the feeling of familial “dependence” as vital.]]></description>
<pubDate>Mon, 01 Oct 2007 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/grey-migration/</link>
<guid>http://www.itinerainstitute.org/en/_paper/grey-migration/</guid>
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<title>The richer you are, the longer you live!</title>
<description><![CDATA[ The more people earn, the longer they are likely to live. Analysing a broad swathe of data on several million pensioners, the authors of this study find large differentials in remaining life expectancy at age 65 across classes of lifetime earnings in Germany. More specifically, they put a lower bound of fifty percent (six years) on the difference from the lowest to the highest income group. Between the two extremes, life expectancy rises linearly in earnings. Despite lower overall mortality in West Germany than in East Germany, life expectancies are similar within income groups. The authors establish the relationship between higher income and higher life expectancy, but do not investigate the real causes of this relationship.]]></description>
<pubDate>Mon, 01 Oct 2007 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/high-income-pensioners-live-longer/</link>
<guid>http://www.itinerainstitute.org/en/_paper/high-income-pensioners-live-longer/</guid>
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<title>Europe is becoming an old lady.</title>
<description><![CDATA[ Even today Europe is already the “oldest continent” on the planet, according to the United Nations 2007 report on world population ageing. Almost a quarter of the population in Western and Southern Europe is 60 years or older. The other parts of Europe are barely younger. The worldwide top twenty of countries with the highest percentage of the population aged 60 or older is exclusively European, with the sole exception of Japan. In Belgium nearly 23% of the population today is aged 60 or over. This makes Belgium officially the eights oldest country in the world. Ageing, needless to say, is scheduled to spread ever more rapidly in the upcoming decades.]]></description>
<pubDate>Thu, 30 Aug 2007 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/old-europe/</link>
<guid>http://www.itinerainstitute.org/en/_paper/old-europe/</guid>
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<title>Can Belgium be inspired by the French reforms?</title>
<description><![CDATA[ In May 2007, the French elected a new president: Nicolas Sarkozy. In June 2007, his political party, the UMP, won the legislative elections. During  these two political campaings, Nicolas Sarkozy and his Prime Minister promoted a broad reform programme linked to many social and economical issues (pensions, labour market, migration, taxation,...). Could Belgium find some inspiration in the French reforms?
]]></description>
<pubDate>Mon, 13 Aug 2007 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/can-belgium-be-inspired-by-the-french-reforms/</link>
<guid>http://www.itinerainstitute.org/en/_paper/can-belgium-be-inspired-by-the-french-reforms/</guid>
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<title>Early retirement: a question of supply and of demand</title>
<description><![CDATA[ More evidence of collusion in early retirement. Early retirement decisions are not only the result of rational choices by the retiring workers (supply side). In many cases, firms organize early retirement as a cost effective way to address change (demand side). The pension system then acts as a kind of unemployment insurance which reduces the dismissal costs for the firms. While both parties are served, society pays and the labour market looses often valuable human capital.]]></description>
<pubDate>Mon, 30 Jul 2007 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/early-retirement-a-question-of-supply-and-of-demand/</link>
<guid>http://www.itinerainstitute.org/en/_paper/early-retirement-a-question-of-supply-and-of-demand/</guid>
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<title>Ageing but healthy</title>
<description><![CDATA[ Ageing hangs as the Sword of Damocles over the current governmental negotiations. Marc De Vos explains that the impact of ageing is also caused by the ageing of the working-age population, which is not beneficial to future innovation and productivity. On the other hand, the ageing workforce is ever healthier and better trained. We need to grasp that opportunity to capitalize on the benefits of ageing.]]></description>
<pubDate>Tue, 17 Jul 2007 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/ageing-but-healthy/</link>
<guid>http://www.itinerainstitute.org/en/_paper/ageing-but-healthy/</guid>
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<title>Ageing Revisited</title>
<description><![CDATA[ A recent working paper by the Belgian National Bank argues for more and immediate budgetary measures in the face of ageing. Marc De Vos points out that the ageing costs’ estimations by the Belgian Commission on Ageing each require a fundamental improvement of Belgium’s socio-economic performance. Belgium’s preparation for the impending ageing of its population therefore still has to start and will require structural policy reform.]]></description>
<pubDate>Thu, 21 Jun 2007 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/ageing-revisited/</link>
<guid>http://www.itinerainstitute.org/en/_paper/ageing-revisited/</guid>
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<title>Jaarlijks verslag - Studiecommissie voor de Vergrijzing</title>
<description><![CDATA[ The yearly report of the Study Commission on Ageing once more adjusted the estimated cost of ageing upwardly. The growth of the second pension pillar of occupational pensions moreover turns out to be problematic. The need to accelerate the expansion of occupational pensions is therefore again accentuated.]]></description>
<pubDate>Fri, 15 Jun 2007 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/jaarlijks-verslag---studiecommissie-voor-de-vergrijzing/</link>
<guid>http://www.itinerainstitute.org/en/_paper/jaarlijks-verslag---studiecommissie-voor-de-vergrijzing/</guid>
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<title>The New Agenda for an Older Workforce</title>
<description><![CDATA[ The impending retirement of the baby-boom generation requires a shift in labour market policies, in particular for human resources. Manpower claims that it is crucial for our economy and for companies to provide incentives for older workers to stay on the labour market.]]></description>
<pubDate>Fri, 15 Jun 2007 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/the-new-agenda-for-an-older-workforce/</link>
<guid>http://www.itinerainstitute.org/en/_paper/the-new-agenda-for-an-older-workforce/</guid>
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<title>The Future of Retirement: The New Old Age &#8211; Global report</title>
<description><![CDATA[ The ageing of the world’s population over the next half-century will bring profound changes to societies. This HSBC Future of Retirement report surveys 21,000 people aged 40 to 79 in 21 countries, making it the most comprehensive study into attitudes towards later life, longevity and retirement across the globe. ]]></description>
<pubDate>Tue, 01 May 2007 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/the-future-retirement-the-new-old-age-global-report/</link>
<guid>http://www.itinerainstitute.org/en/_paper/the-future-retirement-the-new-old-age-global-report/</guid>
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<title>Asset Meltdown in Europe: a Probability Assessment</title>
<description><![CDATA[ Koen De Leus offers a technical assessment of the probability that the retirement of the baby boom generation will lead to asset meltdown on the European financial markets because of changes in saving patterns. The conclusion is reassuring, if Europe indeed continues to develop its relatively untapped sources for a second pension pillar.]]></description>
<pubDate>Wed, 18 Apr 2007 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/asset-meltdown-in-europe-a-probability-assessment/</link>
<guid>http://www.itinerainstitute.org/en/_paper/asset-meltdown-in-europe-a-probability-assessment/</guid>
<enclosure url="http://www.itinerainstitute.org/upl/1/default/doc/Memo4_07.pdf" length="687758" type="application/pdf" />
</item>
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<title>Can Pension Reform Save Ageing?</title>
<description><![CDATA[ Marc De Vos and Koen De Leus analyze the interaction between the development of pension saving and ageing for Belgium. Second pillar retirement saving is necessary but does not solve the acute social shortcomings of the Belgian pension landscape. Moreover, it is not a magical solution for financing ageing. Accelerated retirement saving is therefore necessary, also to reduce the risk of the famous “asset meltdown” when ageing disturbs the equilibrium between savers and spenders on the financial markets. The paradoxical conclusion therefore is that more retirement saving not only helps to fund ageing but also to protect retirement capital against ageing.]]></description>
<pubDate>Wed, 18 Apr 2007 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/can-pension-reform-save-ageing/</link>
<guid>http://www.itinerainstitute.org/en/_paper/can-pension-reform-save-ageing/</guid>
</item>
<item>
<title>Retirement, Pensions, and Ageing</title>
<description><![CDATA[ What can be the effect of demographic shocks and changes in the pension system on the macroeconomic performance of a small open economy like Belgium? A study by CESifo concludes that pension reform must be drastic for it to have any effect on the retirement behaviour of workers.]]></description>
<pubDate>Sun, 01 Apr 2007 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/retirement-pensions-and-ageing/</link>
<guid>http://www.itinerainstitute.org/en/_paper/retirement-pensions-and-ageing/</guid>
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<title>Ageing Is Much More Than Public Expenditure</title>
<description><![CDATA[ Belgium’s High Council for Public Finances predicts forty years of budgetary discipline in order to finance ageing. Marc De Vos argues for a proactive reform strategy to break the budgetary gridlock for the future generations.]]></description>
<pubDate>Sat, 17 Mar 2007 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/ageing-is-much-more-than-public-expenditure/</link>
<guid>http://www.itinerainstitute.org/en/_paper/ageing-is-much-more-than-public-expenditure/</guid>
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<title>Updating the Debate on Intergenerational Fairness in Pension Reform</title>
<description><![CDATA[ Is it fair to burden the younger generations with paying the pensions for the elder generations? Kennet Howse from the Oxford Institute of Ageing examines existing claims about the fairness or unfairness of government policies that require current and future working generations to bear the full pension impact of their own lower fertility.]]></description>
<pubDate>Thu, 01 Feb 2007 12:00:00 +0100</pubDate>
<link>http://www.itinerainstitute.org/en/_paper/updating-debate-intergenerational-fairness-pension-reform/</link>
<guid>http://www.itinerainstitute.org/en/_paper/updating-debate-intergenerational-fairness-pension-reform/</guid>
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