Policy brief no. 5 on long-term socio-economic consequences of insecure labour market positions

The EXCEPT project team has published a policy brief which deals with the question how can future old age poverty for today's youth be avoided.

While the changing structure of pension systems increasingly requires young people to invest into additional old age saving plans, increasing labour market uncertainty allows them to do so less and less. The EXCEPT researchers show that youth in general are highly aware of the necessity of making additional savings for old age, but their ability to save is restricted by employment uncertanty. There are considerable variations between European countries in the degree to which they consider early career uncertainties. Insufficient considerations of unemployment in public pensions are disproportionately found in countries where its relative incidence is highest. As a consequence, unemployment will have strong negative effects on pension entitlements in all three pillars and even successful youth may face the risk of old-age-poverty.

The video further explains how young people from various backgrounds may face higher risks of poverty regarding old age provision: https://www.youtube.com/watch?v=D08zgNTBLSM

Read the EXCEPT Policy Brief 5