The Treatment Of Pension Obligations In The Ratings Process For European Sovereigns May 06
- ID: 1834807
- May 2006
- Region: Europe
- Standard & Poors
In almost all countries, the sovereign is directly responsible for old-age benefits for central government employees. In most countries, the sovereign is also responsible for at least a portion of the old-age benefits for the rest of the public sector, the poor, the entire employed population, or a combination of these. In European countries, sovereign coverage of old-age benefits tends to be extensive, although in many cases programs differ for private sector employees and public sector employees, and also for different categories of employees within these broad groups. Benefits provided by these programs vary widely, from basic pensions or means-tested assistance to broad defined-benefit unfunded pension schemes servicing private sector employees (also known as Pay-As-You-Go or PAYGO). Funding also differs,...
Companies mentioned in this report are:
- Slovak Republic
- Poland (Republic of)
- Latvia (Republic of)
- Lithuania (Republic of)
- Estonia (Republic of)
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