Progress towards achieving goals of Open Method of Coordination for pensions — international comparison
Progress towards achieving goals of Open Method of Coordination for pensions — international comparison

Summary/Abstract: The Open Method of Coordination for pensions proposes a reform of the entire pension system: public, occupational and private pension schemes. Its three main objectives are to ensure adequate pension benefits and sustainable and modernized pension systems. The achievement of the objectives can be monitored using a set of indicators published by Eurostat, including the risk of poverty rate for the old age, the pension replacement rate, the level of pension expenditure and the gender differences in the indicators. The aim of this article is to construct a measure that will allow to assess the progress of each EU country in achieving the three objectives and to rank countries each year in the period 2011–2023 based on the Eurostat data. The Hellwig measure of economic development, one of the linear ordering methods, is used. The second objective is to group countries according to the obtained values of measure of development for all years and thus indicate which of them are on a stable path towards achieving the objectives of the Open Method of Coordination.

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