We study the sustainability of pension systems using a life-cycle model with distortionary taxation that sets an upper … welfare of a number of policies often advocated to improve the sustainability of pension systems. New tax data on dynamic …

age, reducing the replacement rate, or introducing a sustainability factor linking pension to life expectancy. The aim of … Spain but that could have a significant impact if it were fully implemented. This reform, called ‘silent reform’ because it … is imperceptible to citizens in its early stages, basically consists in increasing maximum pensions in line with …

age, reducing the replacement rate, or introducing a sustainability factor linking pension to life expectancy. The aim of … Spain but that could have a significant impact if it were fully implemented. This reform, called 'silent reform' because it … is imperceptible to citizens in its early stages, basically consists in increasing maximum pensions in line with …

This study analyzes the sustainability implications of demographic and investment risks in the Finnish private sector … expenditure. The main sustainability problem is not, however, the generally projected increase in the contribution rate, but the …. It is likely to do so, unless the increased risk causes unforeseen changes to the pension system, with sustainability …

-term sustainability. We argue that the latest reforms have moved pension provision in Germany in principle from a defined benefit to a …

, unemployment insurance and pensions, as well as investment in education, are seen as key ways to reduce household demand for …

-term sustainability. We argue that the latest reforms have moved pension provision in Germany in principle from a defined benefit to a … ; Financial Crisis ; Fiscal Sustainability Survey ; Germany …

In this paper we examine the sustainability of euro area public finances against the backdrop of population ageing. We … alternative indicators to quantify sustainability gaps for euro area countries. With respect to the policy implications, we assess … the appropriateness of different budgetary strategies to restore fiscal sustainability taking into account …

's pensions landscape. Nevertheless there remain concerns about future costs, while unease about adequacy is growing. This study … develops a comprehensive framework to assess pension system sustainability. It captures the effects of reforms on the ability … longevity and changes in the value of pensions during retirement. Moreover, rather than focusing only on average earners with …