The Legality of Public Pension Reforms in Times of Financial Crisis - The Case of Greece

Cover

Introduction

A. Background

B. The Subject-Matter of the Book

I. Aim of the Book

II. Legal Research Questions

III. Methodology

IV. Progression of the Argument

Chapter One: The Influences of the Pension Reforms 2010-2012

A. The Influences of the Pension Reforms Prior to the Financial Crisis

I. Normative Factors

1. International Guidelines on Pension Reforms

2. European Economic and Monetary Union

3. Open Method of Co-Ordination

II. Factual Factors

1. Financial Imbalances in the Greek Public Pension System

2. Demographic Changes

B. The Influences of the Pension Reforms After the Financial Crisis

I. The Financial Crisis

II. The Conditionality of the Financial Facility Agreements

1. The Content of the Financial Facility Agreements

2. The IMF’ Policy of Conditionality

3. The Legal Status of the Agreements and their Element of Conditionality

III. Concluding Remarks

Chapter Two: The Greek Public Pension System 2010-2012

A. Overview of the Greek Public Pension System

I. Horizontal Dimension – Personal Scope of Coverage

II. Vertical Dimension – Form and Function

B. Pension Reforms Affecting Prospective Pensioners

I. Safety-Net for Elderly

1. Safety-Net Inside the Scope of the Pension System

a) Basic Pension

b) Social Solidarity Benefit (EKAS)

2. Safety-Net Outside the Scope of the Pension System

II. Proportional Pension

1. Qualifying Conditions

a) Pension Age: Pre and Post Crisis

aa) Normal Pension Age

bb) Early Pension Age

cc) Late Pension Age

b) Pensionable Service

aa) Minimum Pensionable Service

bb) Full Pensionable Service

cc) Recognition of Notional Insured Period

2. Financing

III. Supplementary Old-Age Pension Benefits

1. Qualifying Conditions

2. Objective and Calculation Method

IV. Further Regulations

1. Arduous and Unhygienic Professions

2. Invalidity Pension

3. Survivor’s Pension

4. Employment of Pensioners

C. Pension Reforms Affecting Current Pensioners

D. Concluding Remarks

Chapter Three: The Protection of Pensioners’ Existing and Future Legal Positions

A. Legal Provisions Protecting the Right to Old-Age Pension Benefits

I. The Right to Property

1. Protection of Allocated Pension Benefits

2. Protection of Pension Benefits to be Allocated in the Future

II. The Principle of Legitimate Expectations (Protection of Confidence)

III. Equality and Non-Discrimination

1. The Right to Equality

2. The Principle of Non-Discrimination

IV. The Right to Social Security

1. The Right to Social Security under International Law

a) The International Treaties (A Normative Description)

aa) Universal Declaration of Human Rights

bb) International Covenant of Economic, Social and Cultural Rights

cc) European Social Charter

dd) European Code of Social Security

ee) ILO Convention No. 102

b) The Right to Social Security as an Objective Right in International Law

2. The Right to Social Security under the Greek Constitution

a) The Constitutional Provisions

aa) The Right to Protection of Old-Age

bb) The Right to Social Insurance – Article 22(5)

b) The Right to Social Security as an Objective Right

c) The Right to Social Security as a Subjective Right

B. Concluding Remarks

Chapter Four: The Public Interest in Times of Financial Crisis

A. Public Interest and the State Power

B. The Financial Crisis as a Public Interest

C. The Aims of the Public Pension Reforms

I. The Sustainability of the Public Pension System

II. The Fiscal Interests of the State

III. The Proper Functioning of the EMU

D. Concluding Remarks

Chapter Five: The Principle of Proportionality as a Balancing Concept in Case-Studies of Pension Reforms

A. The Principle of Proportionality

B. Case-Studies

I. Reductions in Old-Age Pension Benefits

1. Reductions in Current Pensioners’ Pension Benefits

a) Application of the Right to Property

b) Reviewing the Proportionality of Pension Reductions

aa) Suitability

bb) Necessity

cc) Proportionality in a Narrow Sense

c) Respecting the Principle of Legitimate Expectations (Protection of Confidence)

d) Respecting the Principle of Equal Contribution to Public Charges

2. Reductions in Prospective Pensioners‘ Pension Benefits

a) The Increasing of Retirement Age as a Restrictive Measure

b) Do Prospective Pensioners have Legitimate Expectations that Transitional Measures will be introduced?

II. Reduction in Old-Age Pension Benefits of High Value

1. The Principle of Equivalence as an Aspect of the Right to Social Insurance

2. The Principle of Social Solidarity as a Ground of Justification

3. Proportional Balance between the Principles of Equivalence and Social Solidarity

III. Age Discrimination Cases

1. Mandatory „Pre-Retirement“ Reserve Scheme

2. Abolition of Bonuses for Pensioners Below the Age of 60

C. Outcomes of the Case-Studies

I. The Decisive Role of the Financial Crisis on Judicial Development

II. Enhancing the Right to Social Insurance

III. Limits on the Interference with Pensioner’s Rights

Conclusion

Bibliography

List of Documents