I am thrilled to announce that the NORFACE network is funding our project “Democratic Governance of Funded Pension Schemes” (DEEPEN).
DEEPEN explores the democratic governance of capital-funded occupational pension schemes. We adopt Scharpf’s distinction between input legitimacy (are collectively binding decisions in line with citizens’ democratically expressed preferences?) and output legitimacy (do collectively binding decisions serve the common interests of the citizens?) to investigate how governments, regulators and labour market actors govern funded pensions (input legitimacy) and whether participants are satisfied with pension fund performance (output legitimacy). The project focuses on Denmark, the Netherlands, Germany, Austria, Ireland and Spain because the structure of funded pension provision varies along key dimensions relevant to input and output legitimacy.
The project combines quantitative analysis of survey data with comparative case studies based on elite and expert interviews and analysis of primary and secondary documents. Four work packages investigate the following research questions: How does national policy define participant influence on funded pension provision? How do stakeholders use pension fund governance to influence investment policy? How have capital-funded pension schemes performed in terms of pension outcomes across European welfare states? To what extent are individual attitudes on pension investment aligned with these inputs and outputs?
The project team includes Karen Anderson (PI) from University College Dublin, Juan Fernandez from University Carlos III in Madrid and Tobias Wiss from the Johannes Keppler University Linz. We’ll be hiring post-doctoral researchers (Dublin, Leiden) and PhD students (Linz, Madrid) to join our project team.