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Russia under Putin 4.0: Stagnation and discontent

23-10-2019

The March 2018 presidential elections were a resounding victory for Vladimir Putin. Since then, however, an unpopular decision to raise the retirement age by five years has cost him some of his support and triggered a wave of protests. In summer 2019, Moscow saw the biggest anti-government rallies for several years over the authorities' decision to exclude independent, 'non-system' opposition candidates from local elections. Even though the decision was upheld, Putin allies struggled to hold onto ...

The March 2018 presidential elections were a resounding victory for Vladimir Putin. Since then, however, an unpopular decision to raise the retirement age by five years has cost him some of his support and triggered a wave of protests. In summer 2019, Moscow saw the biggest anti-government rallies for several years over the authorities' decision to exclude independent, 'non-system' opposition candidates from local elections. Even though the decision was upheld, Putin allies struggled to hold onto their city council majority; they have also done less well than usual in other recent elections. Protests and electoral setbacks are linked to growing discontent – not only due to the pension reform but also to grinding poverty and inequality. Contrasting with the wealth of oligarchs, millions of Russians struggle to make ends meet as incomes register their fifth consecutive year of decline. Despite emerging from recession in 2016, the economy continues to stagnate. At the start of his presidency, Putin announced ambitious targets and massive investments to re-ignite growth, but these seem unlikely to bring more than modest improvements. Growing discontent is not expected to threaten Putin and his United Russia party's grip on power, given that Russians see no real alternatives. In the longer term, United Russia will probably hold onto its parliamentary majority in the next national elections in 2021, while Putin will see out his fourth, and probably final, presidency until its expiry in 2024. Even after that, there is a strong possibility that Putin, or at least a close ally, will remain in charge. In the past, confrontation with the West has helped to distract attention from the country's domestic problems and shore up support for Putin. However, given the need to boost the economy, the Kremlin may be considering options for improved relations in order to get Ukraine-related sanctions lifted, although it is still too early to say whether this will actually happen.

Demographic outlook for the European Union 2019

03-06-2019

This paper is the second in a series that EPRS is producing on the demographic outlook for the European Union (EU). Demography matters. The economy, labour market, healthcare, pensions, the environment, intergenerational fairness and election results – they are all driven by demography. The EU has seen its population grow substantially – by around a quarter since 1960 – and currently stands at over 500 million people. However, it is now beginning to stagnate, before its expected decline from around ...

This paper is the second in a series that EPRS is producing on the demographic outlook for the European Union (EU). Demography matters. The economy, labour market, healthcare, pensions, the environment, intergenerational fairness and election results – they are all driven by demography. The EU has seen its population grow substantially – by around a quarter since 1960 – and currently stands at over 500 million people. However, it is now beginning to stagnate, before its expected decline from around the middle of the century. With the world population having risen still more substantially and growth continuing, the EU represents a shrinking proportion of this population. The EU population is also ageing dramatically, as life expectancy increases and fertility rates fall below their levels in the past. This has serious implications across a range of areas including the economy, healthcare and pensions. Free movement within the EU and migration from third countries also play an important role in shaping demography in individual Member States and regions. The 'in-focus' section of this year's edition looks at pensions. It highlights that, whilst national reforms have largely successfully addressed issues around the sustainability of pension systems, concerns about the adequacy of pensions, particularly in the future, still remain.

Plenary round-up – Brussels, April I 2019

05-04-2019

Highlights of the April I plenary session included debates on the Future of Europe with Swedish Prime Minister, Stefan Löfven, and on UK withdrawal from the EU. Important debates also took place on several legislative proposals, and Members voted on proposals including the mobility package files debated during the March II plenary session on rules for posted road transport workers and on working conditions for drivers. Parliament also adopted first-reading positions on three further proposed funding ...

Highlights of the April I plenary session included debates on the Future of Europe with Swedish Prime Minister, Stefan Löfven, and on UK withdrawal from the EU. Important debates also took place on several legislative proposals, and Members voted on proposals including the mobility package files debated during the March II plenary session on rules for posted road transport workers and on working conditions for drivers. Parliament also adopted first-reading positions on three further proposed funding programmes for the 2021-2027 period.

THE GENDER GAP IN PENSIONS IN THE EU

15-03-2019

Pensions determine the economic independence of their beneficiaries. This briefing provides a summary of the EU gender gap in pensions and explains its evolution and the basic factors for its existence and size.

Pensions determine the economic independence of their beneficiaries. This briefing provides a summary of the EU gender gap in pensions and explains its evolution and the basic factors for its existence and size.

Gender Gap in Pensions: Looking ahead

15-05-2017

The study was commissioned overseen and published by the European Parliament’s Policy Department for Citizens’ Rights and Constitutional Affairs at the request of the FEMM Committee. The issue of gender gap in pensions has aroused increasing attention over recent years. While the current gap in pension levels between men and women reflects past labour market tendencies and design of pension systems, pronounced changes have occurred with regard to both employment of women and pension systems. The ...

The study was commissioned overseen and published by the European Parliament’s Policy Department for Citizens’ Rights and Constitutional Affairs at the request of the FEMM Committee. The issue of gender gap in pensions has aroused increasing attention over recent years. While the current gap in pension levels between men and women reflects past labour market tendencies and design of pension systems, pronounced changes have occurred with regard to both employment of women and pension systems. The ageing population has stimulated revision to pension systems, including raising retirement age and the introduction of a closer correspondence between lifetime earnings and pension levels. These changes will influence the pattern in the future gender pension gap. This report recommends an approach to assessment of the future gender pension gap using the Forward-looking Gender Pension Gap Index. The index proposed spans two domains: the employment gap and pension system compensation. Both these domains impact tomorrow’s distribution of pensions between men and women.

Extern avdelning

Agnieszka Chłoń-Domińczak, Warsaw School of Economics

Maternity, paternity and parental leave in the EU

06-03-2017

The EU has been working on reforming family leave policies in Member States since the 1980s. Its efforts resulted in two currently valid directives: the 1992 Maternity Leave Directive and the 2010 Parental Leave Directive. Even though EU Member States’ transposition of the current directives has been mostly satisfactory technically, in 2015 the Commission announced a package on work-life balance which would replace the current legislation. The rationale for the new package is increasing female labour ...

The EU has been working on reforming family leave policies in Member States since the 1980s. Its efforts resulted in two currently valid directives: the 1992 Maternity Leave Directive and the 2010 Parental Leave Directive. Even though EU Member States’ transposition of the current directives has been mostly satisfactory technically, in 2015 the Commission announced a package on work-life balance which would replace the current legislation. The rationale for the new package is increasing female labour participation, bringing gender balance to care activities now predominantly performed by women, and improving negative demographic trends. The current legislative framework has been evaluated as inadequate to deal with these challenges. While the content of the Commission proposal is not yet fully known, an analysis of the current situation may shed light on the direction of change, as well as the obstacles that the new proposal may face. Even though Member States have transposed the current directives, they have also been given much freedom in deciding on elements which may be crucial in achieving the aims of the new Commission proposal. Why Member States decided to implement certain elements over others depends on their cultural, social and economic situations, which, according to experts, play a significant role in deciding policies of that type and may also influence the new proposal.

Extending quantitative easing: Are there additional risks for financial stability?

15-02-2017

The notes in this compilation provide an in-depth analysis of the pros and cons associated with the extension of ECB quantitative easing programme of asset purchases. The notes have been requested by the Committee on Economic and Monetary Affairs as an input for the February 2017 session of the Monetary Dialogue.

The notes in this compilation provide an in-depth analysis of the pros and cons associated with the extension of ECB quantitative easing programme of asset purchases. The notes have been requested by the Committee on Economic and Monetary Affairs as an input for the February 2017 session of the Monetary Dialogue.

Extern avdelning

Andrew HUGHES HALLETT (Department of Economics, Copenhagen Business School), Salomon FIEDLER, Stefan KOOTHS, Ulrich STOLZENBURG (Kiel Institute for the World Economy), Christophe BLOT, Jérôme CREEL, Paul HUBERT, Fabien LABONDANCE, Xavier RAGOT (OFCE, Observatoire Français des Conjonctures Economiques)

Occupational pensions: Revision of the Institutions for Occupational Retirement Provision Directive (IORP II)

23-01-2017

In 2014, the European Commission proposed a revision (‘IORP II’) of the existing Institutions for Occupational Retirement Provision (IORP) Directive of 2003, which covers certain occupational pension savings. These are overwhelmingly in the United Kingdom (55.9% of IORP assets) and the Netherlands (30.7%). The proposed revision aims to improve the governance, risk management, transparency and information provision of IORPs and help increase cross-border IORP activity. Stakeholders generally welcomed ...

In 2014, the European Commission proposed a revision (‘IORP II’) of the existing Institutions for Occupational Retirement Provision (IORP) Directive of 2003, which covers certain occupational pension savings. These are overwhelmingly in the United Kingdom (55.9% of IORP assets) and the Netherlands (30.7%). The proposed revision aims to improve the governance, risk management, transparency and information provision of IORPs and help increase cross-border IORP activity. Stakeholders generally welcomed the focus of the proposal and the lack of new prudential rules, but felt the revision was overly detailed and prescriptive and did not respect national competences, nor reflect the variety of IORPs and their position as social (not just financial) entities. Following trilogue discussions, the compromise text was adopted at first reading in the European Parliament’s plenary on 24 November, an then adopted by the Council on 8 December. It came into effect on 12 January 2017 and Member States have two years from then to transpose it into national law. This briefing updates an earlier edition, from September 2016: PE 589.800.

Recast occupational pensions directive (IORP II)

15-11-2016

The Institutions for Occupational Retirement Provision (IORP) Directive, from 2003, covers certain occupational pension savings. IORPs hold assets worth €2.5 trillion on behalf of around 75 million Europeans and are found mainly in the United Kingdom (55.9 % of IORP assets) and the Netherlands (30.7 %). Around a further 10 % of IORP assets are in Germany (4.5 %), Italy (2.8 %) and Ireland (2.4 %). The proposed revision (known as IORP II), to be debated during the Parliament's November plenary session ...

The Institutions for Occupational Retirement Provision (IORP) Directive, from 2003, covers certain occupational pension savings. IORPs hold assets worth €2.5 trillion on behalf of around 75 million Europeans and are found mainly in the United Kingdom (55.9 % of IORP assets) and the Netherlands (30.7 %). Around a further 10 % of IORP assets are in Germany (4.5 %), Italy (2.8 %) and Ireland (2.4 %). The proposed revision (known as IORP II), to be debated during the Parliament's November plenary session, aims to improve the governance, risk management, transparency and information provision of IORPs and help increase cross-border IORP activity.

The Gender Pension Gap: Differences between Mothers and Women without Children

15-07-2016

This study was commissioned by the European Parliament's Policy Department for Citizens' Rights and Constitutional Affairs at the request of the FEMM Committee. Demographic trends and the financial and economic crisis have obliged European countries to accelerate the revision of their pension systems with the aim of ensuring their sustainability. However, serious question on the effects these reforms on pension adequacy have been raised. This report summarises recent changes in pension reforms and ...

This study was commissioned by the European Parliament's Policy Department for Citizens' Rights and Constitutional Affairs at the request of the FEMM Committee. Demographic trends and the financial and economic crisis have obliged European countries to accelerate the revision of their pension systems with the aim of ensuring their sustainability. However, serious question on the effects these reforms on pension adequacy have been raised. This report summarises recent changes in pension reforms and their effects on gender pension gaps, with a focus on women with children. The assessment of recent pension reforms in a gender perspective shows that changes in pension design may increase the gender gap in pensions and translate into higher poverty risks for older women compared to men, unless specific measures are implemented in Member States to support women’s position in the labour market and to address periods out of the labour market due to caring duties.

Extern avdelning

Manuela Samek

Kommande evenemang

20-01-2021
EPRS online policy roundtable with the World Bank: Where next for the global economy
Övrigt -
EPRS
25-01-2021
Public Hearing on "Gender aspects of precarious work"
Utfrågning -
FEMM
27-01-2021
Public hearing on AI and Green Deal
Utfrågning -
AIDA

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