A Comparative Sociological Analysis of Pension Regimes and Social Stratification in Aging Societies

Population aging, declining fertility, and increasingly fragmented labor markets have placed growing pressure on pension systems in advanced economies, while also intensifying inequality in old age. Moving beyond fiscal and actuarial perspectives, this paper conceptualizes pension regimes as institutionalized systems of social risk allocation that shape post retirement class outcomes. Using a comparative institutional framework, the study examines three ideal typical regimes: the market oriented system of the United States, the state centered Bismarckian model of Germany, and the balanced multi pillar arrangements of Nordic countries, through stylized and illustrative case simulations with hypothetical but realistic parameters. The analysis shows that market oriented regimes tend to individualize risk and reproduce pre retirement class advantages, state centered regimes stabilize income for labor market insiders while reinforcing employment based stratification, and balanced multi pillar regimes diffuse risks across institutional pillars, resulting in more inclusive and stable class outcomes in old age. The study is limited by its reliance on ideal typical comparisons and stylized simulations rather than empirical micro level data, but it provides a sociological framework for understanding pensions as key mechanisms of stratification in aging societies.