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Cashing out pension savings : an appropriate response to 'temporary' income shortfalls?
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2169-9763; 2169-978X
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Journal of international and comparative social policy, 2024, OnlineFirst
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CASEY, Bernard H., MUSTAFA, Artan, Cashing out pension savings : an appropriate response to ‘temporary’ income shortfalls?, Journal of international and comparative social policy, 2024, OnlineFirst - https://hdl.handle.net/1814/77704
Abstract
This article examines premature withdrawals from pension funds that were initiated as responses to the COVID-19 pandemic. It looks at withdrawal programmes both in emerging market and in advanced economies. Although measures might have been expedient in countries where social protection systems (social assistance and job furlough schemes) are relatively underdeveloped, they could also be regressive. Furthermore, they undermined the concept of pension funds as retirement income resources and, in some cases, they might threaten people’s living standards once they became old. The paper also suggests that such withdrawal programmes have a populist flavour.
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Published online: 20 December 2024