Live Long and Prosper? Demographic Change and Europe s Pensions Crisis. Dr. Jochen Pimpertz Brussels, 10 November 2015

Size: px
Start display at page:

Download "Live Long and Prosper? Demographic Change and Europe s Pensions Crisis. Dr. Jochen Pimpertz Brussels, 10 November 2015"

Transcription

1 Live Long and Prosper? Demographic Change and Europe s Pensions Crisis Dr. Jochen Pimpertz Brussels, 10 November 2015

2 Old-age-dependency ratio, EU28 45,9 49,4 50,2 39,0 27,5 31, Note: Ratio of people aged 65 and older relative to people aged 15 to 64. Source: Eurostat 2

3 Ageing of numerical strong cohorts, EU ,0 5,0 10,0 15,0 20,0 25,0 30,0 35,0 40,0 Source: Eurostat population at age, million 3

4 Italy Germany Greece Sweden Portugal Finland Bulgaria Latvia Denmark France EU28 Estonia Lithuania Croatia Belgium Austria United Kingdom Spain Netherlands Malta Hungary Slovenia Czech Republic Romania Luxembourg Poland Cyprus Ireland Slovakia Projected old-age-dependency ratio 70,0 60,0 50,0 40,0 30,0 20,0 10,0 0,0-10,0-20, Note: Projected number of persons aged 65 and over expressed as a percentage of the projected number of persones aged 15 to 64. Source: Eurostat (EUROPOP2010) 4

5 Italy France Austria Greece Portugal Finland Hungary Poland EU27 Slovenia Belgium Germany Malta Denmark Spain Bulgaria Romania Latvia Sweden Luxembourg Czech Republic Estonia Lithuania Slovakia United Kingdom Cyprus Ireland Netherlands Projection of pension expenditure as a percentage of GDP, (EU Ageing Report 2012) Note: Pension Expenditure Projection (Baseline Scenario), last update 13 April Source: Eurostat (Pension Expenditure Projection, Basline Scenario, last update: 13 April 2015) 5

6 Pay-as-you-go pension scheme Period 1 cohort 2 paying contributions cohort 1 receiving pension payment Period 2 cohort 3 paying contributions cohort 2 receiving pension payment Period 3 cohort 3 receiving pension payment 6

7 PAYG Ageing of numerical strong cohorts Period 1 cohort 2 paying contributions cohort 1 receiving pension payment Period 2 cohort 3 paying contributions cohort 2 receiving pension payment Period 3 cohort 3 receiving pension payment 7

8 PAYG Low fertility rate Period 1 cohort 2 paying contributions cohort 1 receiving pension payment Period 2 cohort 3 paying contributions cohort 2 receiving pension payment Period 3 cohort 3 receiving pension payment 8

9 PAYG Rising life expectancy Period 1 cohort 2 paying contributions cohort 1 receiving pension payment Period 2 cohort 3 paying contributions cohort 2 receiving pension payment Period 3 cohort 3 receiving pension payment 9

10 Capital funded pension scheme Period 1 Period 2 Cohort 1 paying contributions receiving pension payment Cohort 2 paying contributions 10

11 CF Ageing of numerical strong cohorts Period 1 Period 2 Cohort 1 paying contributions receiving pension payment Cohort 2 paying contributions 11

12 CF Low fertility rate Period 1 Period 2 Cohort 1 paying contributions receiving pension payment Cohort 2 paying contributions 12

13 CF Rising life expectancy Period 1 Period 2 Cohort 1 paying contributions receiving pension payment Cohort 2 paying contributions 13

14 Ireland Italy Germany Portugal United Kingdom Netherlands Denmark Spain Poland Greece Austria Finland France Belgium Luxembourg Hungary Estonia Slovenia Czech Republic Slovakia Official and effective retirement age, men 70,0 68,0 66,0 64,0 62,0 60,0 58,0 56,0 54,0 52,0 effective official Note: EU member states that are OECD countries; average effective age of labour market exit and normal statutory retirement age. Source: OECD (Pension at a Glance, 2013) 14

15 Ireland Germany Portugal Netherlands Denmark Spain Finland France Belgium Luxembourg Greece Hungary Italy Czech Republic United Kingdom Estonia Slovenia Poland Austria Slovakia Official and effective retirement age, women 70,0 68,0 66,0 64,0 62,0 60,0 58,0 56,0 54,0 52,0 effective official Note: EU member states that are OECD countries; average effective age of labour market exit and normal statutory retirement age. Source: OECD (Pension at a Glance, 2013) 15

16 Different reform paths quasi-mandatory occupational pension scheme voluntary occupational and private pension schemes notional defined contribution scheme automatic enrolement in occupational pension scheme 16

17 Policy recommandations nation specific - within three pillars - national preferences - gradual but innovative EU - monitoring - evaluation - simulation - single market 17

18 Live Long and Prosper? Demographic Change and Europe s Pensions Crisis Dr. Jochen Pimpertz Brussels, 10 November 2015

EU BUDGET AND NATIONAL BUDGETS

EU BUDGET AND NATIONAL BUDGETS DIRECTORATE GENERAL FOR INTERNAL POLICIES POLICY DEPARTMENT ON BUDGETARY AFFAIRS EU BUDGET AND NATIONAL BUDGETS 1999-2009 October 2010 INDEX Foreward 3 Table 1. EU and National budgets 1999-2009; EU-27

More information

EU-28 RECOVERED PAPER STATISTICS. Mr. Giampiero MAGNAGHI On behalf of EuRIC

EU-28 RECOVERED PAPER STATISTICS. Mr. Giampiero MAGNAGHI On behalf of EuRIC EU-28 RECOVERED PAPER STATISTICS Mr. Giampiero MAGNAGHI On behalf of EuRIC CONTENTS EU-28 Paper and Board: Consumption and Production EU-28 Recovered Paper: Effective Consumption and Collection EU-28 -

More information

REPORT FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT, THE COUNCIL, THE EUROPEAN ECONOMIC AND SOCIAL COMMITTEE AND THE COMMITTEE OF THE REGIONS

REPORT FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT, THE COUNCIL, THE EUROPEAN ECONOMIC AND SOCIAL COMMITTEE AND THE COMMITTEE OF THE REGIONS EUROPEAN COMMISSION Brussels,.4.29 COM(28) 86 final/ 2 ANNEXES to 3 ANNEX to the REPORT FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT, THE COUNCIL, THE EUROPEAN ECONOMIC AND SOCIAL COMMITTEE AND THE COMMITTEE

More information

EMPLOYMENT RATE Employed/Working age population (15 64 years)

EMPLOYMENT RATE Employed/Working age population (15 64 years) EMPLOYMENT RATE 198 26 Employed/Working age population (15 64 years 8 % Finland 75 EU 15 EU 25 7 65 6 55 5 8 82 84 86 88 9 92 94 96 98 2 4** 6** 14.4.25/SAK /TL Source: European Commission 1 UNEMPLOYMENT

More information

European Advertising Business Climate Index Q4 2016/Q #AdIndex2017

European Advertising Business Climate Index Q4 2016/Q #AdIndex2017 European Advertising Business Climate Index Q4 216/Q1 217 ABOUT Quarterly survey of European advertising and market research companies Provides information about: managers assessment of their business

More information

EU Pension Trends. Matti Leppälä, Secretary General / CEO PensionsEurope 16 October 2014 Rovinj, Croatia

EU Pension Trends. Matti Leppälä, Secretary General / CEO PensionsEurope 16 October 2014 Rovinj, Croatia EU Pension Trends Matti Leppälä, Secretary General / CEO PensionsEurope 16 October 2014 Rovinj, Croatia 1 Lähde: World Bank 2 Pension debt big (implicit debt, % of GDP, 2006) Source:Müller, Raffelhüschen

More information

SELECTED MAJOR SOCIAL SECURITY PENSION REFORMS IN EUROPE, Source: ISSA Databases

SELECTED MAJOR SOCIAL SECURITY PENSION REFORMS IN EUROPE, Source: ISSA Databases SELECTED MAJOR SOCIAL SECURITY PENSION REFORMS IN EUROPE, 1995-2014 Source: ISSA Databases COUNTRY AREA YR SUMMARY OBJECTIVE POSSIBLE EVALUATION CRITERIA* United Kingdom Pensions 2014 Replacing public

More information

Approach to Employment Injury (EI) compensation benefits in the EU and OECD

Approach to Employment Injury (EI) compensation benefits in the EU and OECD Approach to (EI) compensation benefits in the EU and OECD The benefits of protection can be divided in three main groups. The cash benefits include disability pensions, survivor's pensions and other short-

More information

EMPLOYMENT RATE IN EU-COUNTRIES 2000 Employed/Working age population (15-64 years)

EMPLOYMENT RATE IN EU-COUNTRIES 2000 Employed/Working age population (15-64 years) EMPLOYMENT RATE IN EU-COUNTRIES 2 Employed/Working age population (15-64 years EU-15 Denmark Netherlands Great Britain Sweden Portugal Finland Austria Germany Ireland Luxembourg France Belgium Greece Spain

More information

Fiscal rules in Lithuania

Fiscal rules in Lithuania Fiscal rules in Lithuania Algimantas Rimkūnas Vice Minister, Ministry of Finance of Lithuania 3 June, 2016 Evolution of National and EU Fiscal Regulations Stability and Growth Pact (SGP) Maastricht Treaty

More information

DG TAXUD. STAT/11/100 1 July 2011

DG TAXUD. STAT/11/100 1 July 2011 DG TAXUD STAT/11/100 1 July 2011 Taxation trends in the European Union Recession drove EU27 overall tax revenue down to 38.4% of GDP in 2009 Half of the Member States hiked the standard rate of VAT since

More information

EMPLOYMENT RATE Employed/Working age population (15-64 years)

EMPLOYMENT RATE Employed/Working age population (15-64 years) 1 EMPLOYMENT RATE 1980-2003 Employed/Working age population (15-64 years 80 % Finland (Com 75 70 65 60 EU-15 Finland (Stat. Fin. 55 50 80 82 84 86 88 90 92 94 96 98 00 02 9.9.2002/SAK /TL Source: European

More information

THE IMPACT OF THE PUBLIC DEBT STRUCTURE IN THE EUROPEAN UNION MEMBER COUNTRIES ON THE POSSIBILITY OF DEBT OVERHANG

THE IMPACT OF THE PUBLIC DEBT STRUCTURE IN THE EUROPEAN UNION MEMBER COUNTRIES ON THE POSSIBILITY OF DEBT OVERHANG THE IMPACT OF THE PUBLIC DEBT STRUCTURE IN THE EUROPEAN UNION MEMBER COUNTRIES ON THE POSSIBILITY OF DEBT OVERHANG Robert Huterski, PhD Nicolaus Copernicus University in Toruń Faculty of Economic Sciences

More information

EUROPA - Press Releases - Taxation trends in the European Union EU27 tax...of GDP in 2008 Steady decline in top corporate income tax rate since 2000

EUROPA - Press Releases - Taxation trends in the European Union EU27 tax...of GDP in 2008 Steady decline in top corporate income tax rate since 2000 DG TAXUD STAT/10/95 28 June 2010 Taxation trends in the European Union EU27 tax ratio fell to 39.3% of GDP in 2008 Steady decline in top corporate income tax rate since 2000 The overall tax-to-gdp ratio1

More information

Sustainability and Adequacy of Social Security in the Next Quarter Century:

Sustainability and Adequacy of Social Security in the Next Quarter Century: Sustainability and Adequacy of Social Security in the Next Quarter Century: Balancing future pensions adequacy and sustainability while facing demographic change Krzysztof Hagemejer (Author) John Woodall

More information

Macroeconomic scenarios for skill demand and supply projections, including dealing with the recession

Macroeconomic scenarios for skill demand and supply projections, including dealing with the recession Alphametrics (AM) Alphametrics Ltd Macroeconomic scenarios for skill demand and supply projections, including dealing with the recession Paper presented at Skillsnet technical workshop on: Forecasting

More information

Youth Integration into the labour market Barcelona, July 2011 Jan Hendeliowitz Director, Employment Region Copenhagen & Zealand Ministry of

Youth Integration into the labour market Barcelona, July 2011 Jan Hendeliowitz Director, Employment Region Copenhagen & Zealand Ministry of Youth Integration into the labour market Barcelona, July 2011 Jan Hendeliowitz Director, Employment Region Copenhagen & Zealand Ministry of Employment, Denmark Chair of the OECD-LEED Directing Committee

More information

Raising the retirement age is the labour market ready for active ageing: evidence from EB and Eurofound research

Raising the retirement age is the labour market ready for active ageing: evidence from EB and Eurofound research Raising the retirement age is the labour market ready for active ageing: evidence from EB and Eurofound research Robert Anderson, EUROFOUND, Dublin Reforming pension systems in Europe and Central Asia

More information

2017 Figures summary 1

2017 Figures summary 1 Annual Press Conference on January 18 th 2018 EIB Group Results 2017 2017 Figures summary 1 European Investment Bank (EIB) financing EUR 69.88 billion signed European Investment Fund (EIF) financing EUR

More information

PUBLIC PROCUREMENT INDICATORS 2011, Brussels, 5 December 2012

PUBLIC PROCUREMENT INDICATORS 2011, Brussels, 5 December 2012 PUBLIC PROCUREMENT INDICATORS 2011, Brussels, 5 December 2012 1. INTRODUCTION This document provides estimates of three indicators of performance in public procurement within the EU. The indicators are

More information

EU KLEMS Growth and Productivity Accounts March 2011 Update of the November 2009 release

EU KLEMS Growth and Productivity Accounts March 2011 Update of the November 2009 release EU KLEMS Growth and Productivity Accounts March 2011 Update of the November 2009 release Description of methodology and country notes Prepared by Reitze Gouma, Klaas de Vries and Astrid van der Veen-Mooij

More information

Lowest implicit tax rates on labour in Malta, on consumption in Spain and on capital in Lithuania

Lowest implicit tax rates on labour in Malta, on consumption in Spain and on capital in Lithuania STAT/13/68 29 April 2013 Taxation trends in the European Union The overall tax-to-gdp ratio in the EU27 up to 38.8% of GDP in 2011 Labour taxes remain major source of tax revenue The overall tax-to-gdp

More information

PENSIONS IN OECD COUNTRIES: INDICATORS AND DEVELOPMENTS

PENSIONS IN OECD COUNTRIES: INDICATORS AND DEVELOPMENTS PENSIONS IN OECD COUNTRIES: INDICATORS AND DEVELOPMENTS Marius Lüske Directorate for Employment, Labour and Social Affairs, OECD Lisbon, 28.09.2018 Marius.LUSKE@oecd.org www.oecd.org/els OUTLINE Talk based

More information

Electricity & Gas Prices in Ireland. Annex Business Electricity Prices per kwh 2 nd Semester (July December) 2016

Electricity & Gas Prices in Ireland. Annex Business Electricity Prices per kwh 2 nd Semester (July December) 2016 Electricity & Gas Prices in Ireland Annex Business Electricity Prices per kwh 2 nd Semester (July December) 2016 ENERGY POLICY STATISTICAL SUPPORT UNIT 1 Electricity & Gas Prices in Ireland Annex Business

More information

How to complete a payment application form (NI)

How to complete a payment application form (NI) How to complete a payment application form (NI) This form should be used for making a payment from a Northern Ireland Ulster Bank account. 1. Applicant Details If you are a signal number indemnity holder,

More information

CFA Institute Member Poll: Euro zone Stability Bonds

CFA Institute Member Poll: Euro zone Stability Bonds CFA Institute Member Poll: Euro zone Stability Bonds I. About the Survey... 2 a. Background... 2 b. Purpose and Methodology... 2 II. Full Results... 2 Q1: Requirement of common issuance of sovereign bonds...

More information

Long Term Reform Agenda International Perspective

Long Term Reform Agenda International Perspective Long Term Reform Agenda International Perspective Asta Zviniene Sr. Social Protection Specialist Human Development Department Europe and Central Asia Region World Bank October 28 th, 2010 We will look

More information

Spain France. England Netherlands. Wales Ukraine. Republic of Ireland Czech Republic. Romania Albania. Serbia Israel. FYR Macedonia Latvia

Spain France. England Netherlands. Wales Ukraine. Republic of Ireland Czech Republic. Romania Albania. Serbia Israel. FYR Macedonia Latvia Germany Belgium Portugal Spain France Switzerland Italy England Netherlands Iceland Poland Croatia Slovakia Russia Austria Wales Ukraine Sweden Bosnia-Herzegovina Republic of Ireland Czech Republic Turkey

More information

Report Penalties and measures imposed under the UCITS Directive in 2016 and 2017

Report Penalties and measures imposed under the UCITS Directive in 2016 and 2017 Report Penalties and measures imposed under the Directive in 206 and 207 4 April 209 ESMA34-45-65 4 April 209 ESMA34-45-65 Table of Contents Executive Summary... 3 2 Background and relevant regulatory

More information

11 th Economic Trends Survey of the Impact of Economic Downturn

11 th Economic Trends Survey of the Impact of Economic Downturn 11 th Economic Trends Survey 11 th Economic Trends Survey of the Impact of Economic Downturn 11 th Economic Trends Survey COUNTRY ANSWERS Austria 155 Belgium 133 Bulgaria 192 Croatia 185 Cyprus 1 Czech

More information

3 Labour Costs. Cost of Employing Labour Across Advanced EU Economies (EU15) Indicator 3.1a

3 Labour Costs. Cost of Employing Labour Across Advanced EU Economies (EU15) Indicator 3.1a 3 Labour Costs Indicator 3.1a Indicator 3.1b Indicator 3.1c Indicator 3.2a Indicator 3.2b Indicator 3.3 Indicator 3.4 Cost of Employing Labour Across Advanced EU Economies (EU15) Cost of Employing Labour

More information

Financial Sustainability of Pension Systems in the European Union

Financial Sustainability of Pension Systems in the European Union European Research Studies, pp. 46-70 Volume XVI, Issue (3), 2013 Financial Sustainability of Pension Systems in the European Union Yılmaz Bayar 1 Abstract: Increases in life expectancy together with the

More information

Borderline cases for salary, social contribution and tax

Borderline cases for salary, social contribution and tax Version Abstract 1 (5) 2015-04-21 Veronica Andersson Salary and labour cost statistics Borderline cases for salary, social contribution and tax (Workshop on Labour Cost Survey, Rome, Italy 5-6 May 2015)

More information

STAT/12/ October Household saving rate fell in the euro area and remained stable in the EU27. Household saving rate (seasonally adjusted)

STAT/12/ October Household saving rate fell in the euro area and remained stable in the EU27. Household saving rate (seasonally adjusted) STAT/12/152 30 October 2012 Quarterly Sector Accounts: second quarter of 2012 Household saving rate down to 12.9% in the euro area and stable at 11. in the EU27 Household real income per capita fell by

More information

CANADA EUROPEAN UNION

CANADA EUROPEAN UNION THE EUROPEAN UNION S PROFILE Economic Indicators Gross domestic product (GDP) at purchasing power parity (PPP): US$20.3 trillion (2016) GDP per capita at PPP: US$39,600 (2016) Population: 511.5 million

More information

Securing sustainable and adequate social protection in the EU

Securing sustainable and adequate social protection in the EU Securing sustainable and adequate social protection in the EU Session on Social Protection & Security IFA 12th Global Conference on Ageing 11 June 2014, HICC Hyderabad India Dr Lieve Fransen European Commission

More information

Measuring financial protection: an approach for the WHO European Region

Measuring financial protection: an approach for the WHO European Region Division of Health Systems and Public Health WHO Regional Office for Europe Measuring financial protection: an approach for the WHO European Region Jon Cylus WHO Barcelona Office for Health Systems Strengthening

More information

NOTE. for the Interparliamentary Meeting of the Committee on Budgets

NOTE. for the Interparliamentary Meeting of the Committee on Budgets NOTE for the Interparliamentary Meeting of the Committee on Budgets THE ROLE OF THE EU BUDGET TO SUPPORT MEMBER STATES IN ACHIEVING THEIR ECONOMIC OBJECTIVES AS AGREED WITHIN THE FRAMEWORK OF THE EUROPEAN

More information

Dividends from the EU to the US: The S-Corp and its Q-Sub. Peter Kirpensteijn 23 September 2016

Dividends from the EU to the US: The S-Corp and its Q-Sub. Peter Kirpensteijn 23 September 2016 Dividends from the EU to the : The S-Corp and its Q-Sub Peter Kirpensteijn 23 September 2016 The Inc: large multinational manufacturing company residents The LLC: holding company owned by tax residents

More information

Comparing pay trends in the public services and private sector. Labour Research Department 7 June 2018 Brussels

Comparing pay trends in the public services and private sector. Labour Research Department 7 June 2018 Brussels Comparing pay trends in the public services and private sector Labour Research Department 7 June 2018 Brussels Issued to be covered The trends examined The varying patterns over 14 years and the impact

More information

THE INVERTING PYRAMID: DEMOGRAPHIC CHALLENGES TO THE PENSION SYSTEMS IN EUROPE AND CENTRAL ASIA

THE INVERTING PYRAMID: DEMOGRAPHIC CHALLENGES TO THE PENSION SYSTEMS IN EUROPE AND CENTRAL ASIA THE INVERTING PYRAMID: DEMOGRAPHIC CHALLENGES TO THE PENSION SYSTEMS IN EUROPE AND CENTRAL ASIA 1 Anita M. Schwarz Lead Economist Human Development Department Europe and Central Asia Region World Bank

More information

October 2010 Euro area unemployment rate at 10.1% EU27 at 9.6%

October 2010 Euro area unemployment rate at 10.1% EU27 at 9.6% STAT//180 30 November 20 October 20 Euro area unemployment rate at.1% EU27 at 9.6% The euro area 1 (EA16) seasonally-adjusted 2 unemployment rate 3 was.1% in October 20, compared with.0% in September 4.

More information

Taxation trends in the European Union Further increase in VAT rates in 2012 Corporate and top personal income tax rates inch up after long decline

Taxation trends in the European Union Further increase in VAT rates in 2012 Corporate and top personal income tax rates inch up after long decline STAT/12/77 21 May 2012 Taxation trends in the European Union Further increase in VAT rates in 2012 Corporate and top personal income tax rates inch up after long decline The average standard VAT rate 1

More information

Courthouse News Service

Courthouse News Service 14/2009-30 January 2009 Sector Accounts: Third quarter of 2008 Household saving rate at 14.4% in the euro area and 10.7% in the EU27 Business investment rate at 23.5% in the euro area and 23.6% in the

More information

COMMISSION OF THE EUROPEAN COMMUNITIES COMMISSION STAFF WORKING DOCUMENT. Annex to the

COMMISSION OF THE EUROPEAN COMMUNITIES COMMISSION STAFF WORKING DOCUMENT. Annex to the COMMISSION OF THE EUROPEAN COMMUNITIES Brussels, 19122006 SEC(2006) 1690 COMMISSION STAFF WORKING DOCUMENT Annex to the COMMUNICATION FROM THE COMMISSION TO THE COUNCIL, THE EUROPEAN PARLIAMENT AND THE

More information

January 2010 Euro area unemployment rate at 9.9% EU27 at 9.5%

January 2010 Euro area unemployment rate at 9.9% EU27 at 9.5% STAT//29 1 March 20 January 20 Euro area unemployment rate at 9.9% EU27 at 9.5% The euro area 1 (EA16) seasonally-adjusted 2 unemployment rate 3 was 9.9% in January 20, the same as in December 2009 4.

More information

COMMUNICATION FROM THE COMMISSION

COMMUNICATION FROM THE COMMISSION EUROPEAN COMMISSION Brussels, 20.2.2019 C(2019) 1396 final COMMUNICATION FROM THE COMMISSION Modification of the calculation method for lump sum payments and daily penalty payments proposed by the Commission

More information

3 Labour Costs. Cost of Employing Labour Across Advanced EU Economies (EU15) Indicator 3.1a

3 Labour Costs. Cost of Employing Labour Across Advanced EU Economies (EU15) Indicator 3.1a 3 Labour Costs Indicator 3.1a Indicator 3.1b Indicator 3.1c Indicator 3.2a Indicator 3.2b Indicator 3.3 Indicator 3.4 Cost of Employing Labour Across Advanced EU Economies (EU15) Cost of Employing Labour

More information

Bank resolution in the Swedish context

Bank resolution in the Swedish context Bank resolution in the Swedish context Hans Lindblad Director General UBS Annual Nordic Financial Services Conference Stockholm 8 september 2016 The Swedish economy is performing well GDP growth is strong

More information

A. INTRODUCTION AND FINANCING OF THE GENERAL BUDGET. EXPENDITURE Description Budget Budget Change (%)

A. INTRODUCTION AND FINANCING OF THE GENERAL BUDGET. EXPENDITURE Description Budget Budget Change (%) DRAFT AMENDING BUDGET NO. 2/2018 VOLUME 1 - TOTAL REVENUE A. INTRODUCTION AND FINANCING OF THE GENERAL BUDGET FINANCING OF THE GENERAL BUDGET Appropriations to be covered during the financial year 2018

More information

NOTE ON EU27 CHILD POVERTY RATES

NOTE ON EU27 CHILD POVERTY RATES NOTE ON EU7 CHILD POVERTY RATES Research note prepared for Child Poverty Action Group Authors: H. Xavier Jara and Chrysa Leventi Institute for Social and Economic Research (ISER) University of Essex The

More information

EIOPA Statistics - Accompanying note

EIOPA Statistics - Accompanying note EIOPA Statistics - Accompanying note Publication references: Published statistics: [Balance sheet], [Premiums, claims and expenses], [Own funds and SCR] Disclaimer: Data is drawn from the published statistics

More information

Burden of Taxation: International Comparisons

Burden of Taxation: International Comparisons Burden of Taxation: International Comparisons Standard Note: SN/EP/3235 Last updated: 15 October 2008 Author: Bryn Morgan Economic Policy & Statistics Section This note presents data comparing the national

More information

Gender pension gap economic perspective

Gender pension gap economic perspective Gender pension gap economic perspective Agnieszka Chłoń-Domińczak Institute of Statistics and Demography SGH Part of this research was supported by European Commission 7th Framework Programme project "Employment

More information

June 2014 Euro area international trade in goods surplus 16.8 bn 2.9 bn surplus for EU28

June 2014 Euro area international trade in goods surplus 16.8 bn 2.9 bn surplus for EU28 127/2014-18 August 2014 June 2014 Euro area international trade in goods surplus 16.8 bn 2.9 bn surplus for EU28 The first estimate for the euro area 1 (EA18) trade in goods balance with the rest of the

More information

EIOPA Statistics - Accompanying note

EIOPA Statistics - Accompanying note EIOPA Statistics - Accompanying note Publication reference: Published statistics: [Balance sheet], [Premiums, claims and expenses], [Own funds and SCR] Disclaimer: Data is drawn from the published statistics

More information

Households capital available for renovation

Households capital available for renovation Households capital available for Methodical note Copenhagen Economics, 22 February 207 The task at hand has been twofold: firstly, we were to calculate an estimate of households average capital available

More information

Communication on the future of the CAP

Communication on the future of the CAP Communication on the future of the CAP The CAP towards 2020: meeting the food, natural resources and territorial challenges of the future Tassos Haniotis, Director Agricultural Policy Analysis and Perspectives

More information

The Skillsnet project on Medium-term forecasts of occupational skill needs in Europe: Replacement demand and cohort change analysis

The Skillsnet project on Medium-term forecasts of occupational skill needs in Europe: Replacement demand and cohort change analysis The Skillsnet project on Medium-term forecasts of occupational skill needs in Europe: Replacement demand and cohort change analysis Paper presented at the Workshop on Medium-term forecast of occupational

More information

Consumer Credit. Introduction. June, the 6th (2013)

Consumer Credit. Introduction. June, the 6th (2013) Consumer Credit in Europe at end-2012 Introduction Crédit Agricole Consumer Finance has published its annual survey of the consumer credit market in 27 European Union countries (EU-27) for the sixth year

More information

Lithuania: in a wind of change. Robertas Dargis President of the Lithuanian Confederation of Industrialists

Lithuania: in a wind of change. Robertas Dargis President of the Lithuanian Confederation of Industrialists Lithuania: in a wind of change Robertas Dargis President of the Lithuanian Confederation of Industrialists 2017 06 15 Lithuanian Confederation of Industrialists - the largest business organisation in Lithuania

More information

Corrigendum. OECD Pensions Outlook 2012 DOI: ISBN (print) ISBN (PDF) OECD 2012

Corrigendum. OECD Pensions Outlook 2012 DOI:   ISBN (print) ISBN (PDF) OECD 2012 OECD Pensions Outlook 2012 DOI: http://dx.doi.org/9789264169401-en ISBN 978-92-64-16939-5 (print) ISBN 978-92-64-16940-1 (PDF) OECD 2012 Corrigendum Page 21: Figure 1.1. Average annual real net investment

More information

Second SHA2011-based pilot data collection 2014

Second SHA2011-based pilot data collection 2014 EUROPEAN COMMISSION EUROSTAT Directorate F: Social statistics Unit F-5: Education, health and social protection DOC 2013-PH-06 Annex 3 Second SHA2011-based pilot data collection 2014 Item 6.2.3 of the

More information

Social Protection and Social Inclusion in Europe Key facts and figures

Social Protection and Social Inclusion in Europe Key facts and figures MEMO/08/625 Brussels, 16 October 2008 Social Protection and Social Inclusion in Europe Key facts and figures What is the report and what are the main highlights? The European Commission today published

More information

Pension Reforms Revisited Asta Zviniene Sr. Social Protection Specialist Human Development Department Europe and Central Asia Region World Bank

Pension Reforms Revisited Asta Zviniene Sr. Social Protection Specialist Human Development Department Europe and Central Asia Region World Bank Pension Reforms Revisited Asta Zviniene Sr. Social Protection Specialist Human Development Department Europe and Central Asia Region World Bank All Countries in the Europe and Central Asia Region Have

More information

Rozvoj zam stnanosti v sociálních slu bách: klí ové faktory a perspektivy. Shaping employment in social services: key factors and future perspectives

Rozvoj zam stnanosti v sociálních slu bách: klí ové faktory a perspektivy. Shaping employment in social services: key factors and future perspectives Rozvoj zam stnanosti v sociálních slu bách: klí ové faktory a perspektivy Shaping employment in social services: key factors and future perspectives T. Sirovátka and O. Hora Focus Development of health

More information

The Tax Burden of Typical Workers in the EU

The Tax Burden of Typical Workers in the EU The Tax Burden of Typical Workers in the EU 28 2018 James Rogers Cécile Philippe Institut Économique Molinari, Paris Bruxelles TABLE OF CONTENTS Abstract... 3 Background... 3 Main Results... 4 On average,

More information

Key Trends of Energy Transition in the EU-28 Region

Key Trends of Energy Transition in the EU-28 Region Key Trends of Energy Transition in the EU-28 Region Jarmo Vehmas, Jyrki Luukkanen & Jari Kaivo-oja Session 13, Innovation in Future Technology June 2017, Turku Finland Futures Research Centre, Turku School

More information

Pensions at a Glance: Europe and Central Asia

Pensions at a Glance: Europe and Central Asia Pensions at a Glance: Europe and Central Asia Edward Whitehouse Head of Pension-Policy Analysis Social Policy division OECD European Commission/ World Bank conference Reforming Pension Systems in Europe

More information

Quarterly Gross Domestic Product of Montenegro 2st quarter 2016

Quarterly Gross Domestic Product of Montenegro 2st quarter 2016 Government of Montenegro Statistical Office of Montenegro Quarterly Gross Domestic Product of Montenegro 2st quarter 2016 The release presents the preliminary data for quarterly gross domestic product

More information

Trust and Fertility Dynamics. Arnstein Aassve, Università Bocconi Francesco C. Billari, University of Oxford Léa Pessin, Universitat Pompeu Fabra

Trust and Fertility Dynamics. Arnstein Aassve, Università Bocconi Francesco C. Billari, University of Oxford Léa Pessin, Universitat Pompeu Fabra Trust and Fertility Dynamics Arnstein Aassve, Università Bocconi Francesco C. Billari, University of Oxford Léa Pessin, Universitat Pompeu Fabra 1 Background Fertility rates across OECD countries differ

More information

Enterprise Europe Network SME growth forecast

Enterprise Europe Network SME growth forecast Enterprise Europe Network SME growth forecast 2017-18 een.ec.europa.eu Foreword Since we came into office three years ago, this European Commission has put the creation of more jobs and growth at the centre

More information

Quarterly Gross Domestic Product of Montenegro 3 rd quarter 2017

Quarterly Gross Domestic Product of Montenegro 3 rd quarter 2017 MONTENEGRO STATISTICAL OFFICE R E L E A S E No: 224 Podgorica, 22 December 2017 When using the data, please name the source Quarterly Gross Domestic Product of Montenegro 3 rd quarter 2017 The release

More information

Turkish Economic Review Volume 3 March 2016 Issue 1

Turkish Economic Review   Volume 3 March 2016 Issue 1 www.kspjournals.org Volume 3 March 2016 Issue 1 Tax Losses due to Shadow Economy Activities in OECD Countries from 2011 to 2013: A preliminary calculation By Friedrich SCHNEIDER a Abstract. In this short

More information

May 2012 Euro area international trade in goods surplus of 6.9 bn euro 3.8 bn euro deficit for EU27

May 2012 Euro area international trade in goods surplus of 6.9 bn euro 3.8 bn euro deficit for EU27 108/2012-16 July 2012 May 2012 Euro area international trade in goods surplus of 6.9 3.8 deficit for EU27 The first estimate for the euro area 1 (EA17) trade in goods balance with the rest of the world

More information

ANALYSIS OF PENSION REFORMS IN EU MEMBER STATES

ANALYSIS OF PENSION REFORMS IN EU MEMBER STATES Annals of the University of Petroşani, Economics, 12(2), 2012, 117-126 117 ANALYSIS OF PENSION REFORMS IN EU MEMBER STATES ELENA LUCIA CROITORU * ABSTRACT: The demographic situation in the European Union

More information

January 2014 Euro area international trade in goods surplus 0.9 bn euro 13.0 bn euro deficit for EU28

January 2014 Euro area international trade in goods surplus 0.9 bn euro 13.0 bn euro deficit for EU28 STAT/14/41 18 March 2014 January 2014 Euro area international trade in goods surplus 0.9 13.0 deficit for EU28 The first estimate for the euro area 1 (EA18) trade in goods balance with the rest of the

More information

First estimate for 2011 Euro area external trade deficit 7.7 bn euro bn euro deficit for EU27

First estimate for 2011 Euro area external trade deficit 7.7 bn euro bn euro deficit for EU27 27/2012-15 February 2012 First estimate for 2011 Euro area external trade deficit 7.7 152.8 deficit for EU27 The first estimate for the euro area 1 (EA17) trade in goods balance with the rest of the world

More information

Assessing financial inclusion in Portugal from the central bank s perspective

Assessing financial inclusion in Portugal from the central bank s perspective Assessing financial inclusion in Portugal from the central bank s International Statistical Institute Regional Statistics Conference Bali, Indonesia 22 24 March 2017 João Cadete de Matos Director Statistics

More information

Medicines for Europe (MFE) HCP/HCO/PO Disclosure Transparency Requirements. Samsung Bioepis Methodology Note

Medicines for Europe (MFE) HCP/HCO/PO Disclosure Transparency Requirements. Samsung Bioepis Methodology Note Medicines for Europe (MFE) HCP/HCO/PO Disclosure Transparency Requirements Samsung Bioepis Methodology Note 1 Contents 1. Overview of the MFE Requirements 2. Decisions 3. Submission Requirements 4. Categories

More information

The Architectural Profession in Europe 2012

The Architectural Profession in Europe 2012 The Architectural Profession in Europe 2012 - A Sector Study Commissioned by the Architects Council of Europe Chapter 2: Architecture the Market December 2012 2 Architecture - the Market The Construction

More information

June 2012 Euro area international trade in goods surplus of 14.9 bn euro 0.4 bn euro surplus for EU27

June 2012 Euro area international trade in goods surplus of 14.9 bn euro 0.4 bn euro surplus for EU27 121/2012-17 August 2012 June 2012 Euro area international trade in goods surplus of 14.9 0.4 surplus for EU27 The first estimate for the euro area 1 (EA17) trade in goods balance with the rest of the world

More information

August 2012 Euro area international trade in goods surplus of 6.6 bn euro 12.6 bn euro deficit for EU27

August 2012 Euro area international trade in goods surplus of 6.6 bn euro 12.6 bn euro deficit for EU27 146/2012-16 October 2012 August 2012 Euro area international trade in goods surplus of 6.6 12.6 deficit for EU27 The first estimate for the euro area 1 (EA17) trade in goods balance with the rest of the

More information

Quarterly Financial Accounts Household net worth reaches new peak in Q Irish Household Net Worth

Quarterly Financial Accounts Household net worth reaches new peak in Q Irish Household Net Worth Quarterly Financial Accounts Q4 2017 4 May 2018 Quarterly Financial Accounts Household net worth reaches new peak in Q4 2017 Household net worth rose by 2.1 per cent in Q4 2017. It now exceeds its pre-crisis

More information

JOINT STATEMENT. The representatives of the governments of the Member States, meeting within the Council of

JOINT STATEMENT. The representatives of the governments of the Member States, meeting within the Council of JOINT STATEMENT The representatives of the governments of the Member States, meeting within the Council of the EU, and The Swiss Federal Council, Have drawn up the following Joint Statement on company

More information

PROGRESS TOWARDS THE LISBON OBJECTIVES 2010 IN EDUCATION AND TRAINING

PROGRESS TOWARDS THE LISBON OBJECTIVES 2010 IN EDUCATION AND TRAINING PROGRESS TOWARDS THE LISBON OBJECTIVES IN EDUCATION AND TRAINING In 7, reaching the benchmarks for continues to pose a serious challenge for education and training systems in Europe, except for the goal

More information

UPSTREAM SECURITY IN EUROPE. A concise overview of the issues arising in connection with the granting and taking of Upstream Security in Europe

UPSTREAM SECURITY IN EUROPE. A concise overview of the issues arising in connection with the granting and taking of Upstream Security in Europe UPSTREAM SECURITY IN EUROPE A concise overview of the issues arising in connection with the granting and taking of Upstream Security in Europe 1 Table of Contents Introduction 5 1. Increase in Cross-Border

More information

Analysis of European Union Economy in Terms of GDP Components

Analysis of European Union Economy in Terms of GDP Components Expert Journal of Economic s (2 0 1 3 ) 1, 13-18 2013 Th e Au thor. Publish ed by Sp rint In v estify. Econ omics.exp ertjou rn a ls.com Analysis of European Union Economy in Terms of GDP Components Simona

More information

PROGRESS TOWARDS THE LISBON OBJECTIVES 2010 IN EDUCATION AND TRAINING

PROGRESS TOWARDS THE LISBON OBJECTIVES 2010 IN EDUCATION AND TRAINING PROGRESS TOWARDS THE LISBON OBJECTIVES IN EDUCATION AND TRAINING In, reaching the benchmarks for continues to pose a serious challenge for education and training systems in Europe, except for the goal

More information

CAP CONTEXT INDICATORS EMPLOYMENT BY ECONOMIC ACTIVITY

CAP CONTEXT INDICATORS EMPLOYMENT BY ECONOMIC ACTIVITY CAP CONTEXT INDICATORS 2014-2020 13. EMPLOYMENT BY ECONOMIC ACTIVITY December 2014 CONTEXT INDICATOR 13: EMPLOYMENT BY ECONOMIC ACTIVITY Agriculture employed almost 10 million people in 2013 According

More information

EIOPA Statistics - Accompanying note

EIOPA Statistics - Accompanying note EIOPA Statistics - Accompanying note Publication references: and Published statistics: [Balance sheet], [Premiums, claims and expenses], [Own funds and SCR] Disclaimer: Data is drawn from the published

More information

Governor of the Bank of Latvia

Governor of the Bank of Latvia Lessons from Latvia s internal adjustment strategy Ilmārs Rimšēvičs Governor of the Bank of Latvia September 4, 2012 Presentation outline Overheating of Latvia s economy Expansionary consolidation Lessons

More information

Defining Issues. EU Audit Reforms: The Countdown Begins. April 2016, No Key Facts for U.S. Companies

Defining Issues. EU Audit Reforms: The Countdown Begins. April 2016, No Key Facts for U.S. Companies Defining Issues April 2016, No. 16-12 EU Audit Reforms: The Countdown Begins Only two months remain before the European Union (EU) audit reforms come into full effect. These reforms will affect many U.S.

More information

Quarterly Gross Domestic Product of Montenegro 4 th quarter 2018 (p)

Quarterly Gross Domestic Product of Montenegro 4 th quarter 2018 (p) MONTENEGRO STATISTICAL OFFICE R E L E A S E No: 46 Podgorica, 22 March 2019 When using the data, please name the source Quarterly Gross Domestic Product of Montenegro 4 th quarter 2018 (p) The release

More information

DATA SET ON INVESTMENT FUNDS (IVF) Naming Conventions

DATA SET ON INVESTMENT FUNDS (IVF) Naming Conventions DIRECTORATE GENERAL STATISTICS LAST UPDATE: 10 APRIL 2013 DIVISION MONETARY & FINANCIAL STATISTICS ECB-UNRESTRICTED DATA SET ON INVESTMENT FUNDS (IVF) Naming Conventions The series keys related to Investment

More information

Taxation trends in the European Union EU27 tax ratio at 39.8% of GDP in 2007 Steady decline in top personal and corporate income tax rates since 2000

Taxation trends in the European Union EU27 tax ratio at 39.8% of GDP in 2007 Steady decline in top personal and corporate income tax rates since 2000 DG TAXUD STAT/09/92 22 June 2009 Taxation trends in the European Union EU27 tax ratio at 39.8% of GDP in 2007 Steady decline in top personal and corporate income tax rates since 2000 The overall tax-to-gdp

More information

Country Health Profiles

Country Health Profiles State of Health in the EU Country Health Profiles Brussels, November 2017 1 The Country Health Profiles 1. Highlights 2. Health status 3. Risk Factors 4. Health System (description) 5. Performance of Health

More information

Audit guidelines Mini One-Stop Shop for telecom, broadcasting and electronic services

Audit guidelines Mini One-Stop Shop for telecom, broadcasting and electronic services 24 June 2014 Indirect Tax Alert VAT no. 524 Audit guidelines Mini One-Stop Shop for telecom, broadcasting and electronic services Audit guidelines Mini One-Stop Shop for telecom, broadcasting and electronic

More information

Aging with Growth: Implications for Productivity and the Labor Force Emily Sinnott

Aging with Growth: Implications for Productivity and the Labor Force Emily Sinnott Aging with Growth: Implications for Productivity and the Labor Force Emily Sinnott Emily Sinnott, Senior Economist, The World Bank Tallinn, June 18, 2015 Presentation structure 1. Growth, productivity

More information

Growth, competitiveness and jobs: priorities for the European Semester 2013 Presentation of J.M. Barroso,

Growth, competitiveness and jobs: priorities for the European Semester 2013 Presentation of J.M. Barroso, Growth, competitiveness and jobs: priorities for the European Semester 213 Presentation of J.M. Barroso, President of the European Commission, to the European Council of 14-1 March 213 Economic recovery

More information