@inbook{58660fd3ffd247318c05f992c52c273e,
title = "Pension systems as risk management: A case of the Baltic states",
abstract = "This chapter explores how the pension systems in the Baltic States are attempting to fulfil their main task of preventing the risk of poverty among the elderly. It considers the development of the pension systems of Estonia, Latvia and Lithuania, as well as the arrangement of their pillars. While the tendency for a stronger vertical redistribution is present in Estonia and Lithuania, Latvia generally maintains a neoliberal approach of individual responsibility. These countries use a wide range of different risk management methods: risk sharing as the main method of social insurance in pay-as-you-go pillars; risk mitigation by maintaining individual pension accumulation accounts and imposing pension regulation and control over the performance of pension system actors; and risks transfer between the pillars and the actors. Additionally, risk retention and risk avoidance strategies are also considered on an individual and state level.",
author = "Olga Rajevska",
note = "Publisher Copyright: {\textcopyright} Jolanta Aidukaite, Sven E. O. Hort and Stein Kuhnle 2021.",
year = "2021",
month = jan,
day = "1",
language = "English",
isbn = "9781839106101",
series = "New Horizons in Social Policy",
publisher = "Edward Elgar Publishing Ltd.",
pages = "202--223",
editor = "Jolanta Aidukaite and Hort, {Sven E. O.} and Stein Kuhnle",
booktitle = "Challenges to the Welfare State",
address = "United Kingdom",
}