Intergenerational economics is characterised by three central questions: how much living generations transfer to or from future ones, how these transfers are made, and whether these transfers are sufficient to support sustainable levels of consumption for future generations. Up to now,...

In this paper we use our comprehensive pension system model calibrated to the real demographic, employment and retirement data, measure transition costs of implementing mandatory private second-pillar into the pension landscape and consider fiscal sustainability of pension system. We report...

This paper examines the transition costs of a mandatory private, second pension pillar. We use a comprehensive model with real demographic, employment, and public retirement data; and combine it with private pension pillar features. The model shows that fiscal sustainability and improved accrual...