Year: 2023
Type: article
Abstract: This article contributes to the debate concerning pension financialization and how countries are adapting their pension systems to respond to demographic ageing. We do so by examining the statutory pension systems of Canada and Finland, which diverge interestingly from current international trends. The Canadian and Finnish public pension schemes reflect two tendencies often associated with pension financialization: an increasing reliance on financial markets and an investment policy with a diversified asset allocation. However, unlike in many other countries, this has not resulted in heightened individual risks in old‐age income security caused by a shift from defined benefit to defined contribution pensions – an otherwise common trend internationally.
DOI: 10.1111/issr.12336
Authors: Jyri Liukko, Aaron Doyle, Turo‐Kimmo Lehtonen
Language: English
Field: Social Sciences
Domain: Social Sciences
Open Access status: hybrid
Estimated APC paid: $2,630
OpenAlex ID: W4386913232