Pensions in the age of Covid-19: policy changes and future challenges

Pension policy is not safe from the potentially dramatic consequences of the pandemic. But in terms of pension politics, the pandemic also represents a window of opportunity to rethink the political debate on the future reform agenda. The present policy brief sheds light on the short- and long-term consequences of Covid-19 for pensions in Europe. The short-term measures have consisted of temporary reduction and/or deferral of social contributions, ad hoc benefits for at-risk elderly, and the provision of additional resources to the social security budget. However, the longer-term effects are projected to be massive both for financial sustainability and social adequacy.