OECD blasts eastern European pension contribution grab


Moves by several eastern European governments to siphon private pension contributions into state systems as a result of the global financial crisis have been blasted as damaging and unsustainable by the head of pension policy at the Paris-based Organisation for Economic Co-operation and Development (OECD).

As a result of the financial crisis and severe pressures on public finances, many nations, including Estonia, Slovakia, Bulgaria and Romania have taken the unprecedented step of slashing contr