A German perspective

As a consequence of unfavourable demographic trends, pension schemes based on pay-as-you-go financing are increasingly endangered. Therefore many national legislators have taken measures to strengthen funded pension provision. The establishment of new, and the fortification of existing, pension funds is under consideration all over Europe. Nevertheless there are large differences in the legal basis, especially in terms of regulation, and the extent of provision of funded pensions in different European countries. Within the regulatory framework of pension funds one of the most prevailing ...