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By Giuliano Bonoli;Toshimitsu Shinkawa

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15; Gough, 2000, p. 5; Holliday, 2000). Such arguments sound plausible, but fail to distinguish East Asian welfare states from their European counterparts, as welfare states everywhere help improve productivity and contribute to economic growth by facilitating social cohesion and peaceful class relationships. In that sense, all welfare states are productivist or work-centred. By confirming centrality of work-centredness in the ‘three worlds of welfare capitalism’, Goodin characterises the liberal welfare state as ‘work, not welfare’, the corporatist one as ‘welfare through work’, and the social democratic one as ‘welfare and work’ (Goodin, 2001, pp.

2003), ‘Two worlds of pension reform in Western Europe’, Comparative Politics, 35(4), 399–416. Employee Benefit Research Institute (EBRI) (1997), Databook on Employee Benefits. E. (2001), ‘Work and welfare: Towards a post-productivist welfare regime’, British Journal of Political Science, 31, 13–39. Goodman, R. and Peng, I. (1996), ‘The East Asian welfare states’, in G. ), Welfare States in Transition, London: Sage, 192–224. Gough, I. uk/ifipa/GSP/). Hacker, J. (2002), The Divided Welfare State, Cambridge, UK: Cambridge University Press.

Due to the scarcity of resources – for both the high contribution rates in the first pillar and the constraints on the public budget – the possibility of using the TFR to finance pension funds was introduced, together with tax incentives. For those workers entering the labour market after 1993 the TFR must be compulsorily transferred to a pension fund, if they decide to subscribe a supplementary pension plan. Pension funds for employees can only Reconfiguring Italian pensions 33 follow the defined contributions principle.

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