Research About The Greek Public Pension Reform Based On The Debt Crisis Perspectives

In order to deal with debt crisis, the Greek government issued apension reform bill in2010, which include reducing pension replacementratio, delaying retirement age and other series of reform measures. Then,Greece broke out many strikes against pension reform bill. Greecepension reform has been constantly dispute. The Greek public pensionsystem belongs to typical "Mediterranean" model. Countries like Italy,Spain and Portugal also fit this mode. All of these countries are deeplytroubled by debt crisis. To deal with the debt crisis, it is very valuable toresearch about the mechanism and reform process of Greek publicpension system.This paper focuses on the relationship between the Greece publicpension reform and the debt crisis. From the point of pension operationparameters, the pension replacement ratio, contributors and pensionersinfluence the government debt scale based on regression analysis; From the point of pension system design, the rising operation cost, excessivewelfare benefits and the lack of the personal pillar have added to thegovernment financial difficulties. When it comes to the reform efforts,according to the regression equation forecast, government debt scale canbe reduced after the reform. But the pension structure reform is yet to becompleted. This pension reform overlooked the pension investmentmanagement, and the lack of personal pillar will still remain. Greecegovernment still bears too much financial responsibility. Although theGreece pension reform is a breakthrough try in the background of debtcrisis, the pension structure reform is not completed。Whether the Greececan carry out the policy strictly still remains to be seen.