This paper uses stochastic simulations on calibrated models to assess the optimal degree of reliance on funded pensions … importance of PAYG pensions differs. We estimate how the optimal level of unfunded, state pensions depends on rate of return and …

of unfunded state pensions differs. We estimate how the optimal level of unfunded state pensions depends on rate of … is rapid and unfunded pensions are currently generous. …

constructed for revenue and expenditure. They show that the rising number of social benefit earners (pensions, unemployment) is …

equal pensions for all but different contributions which may or may not increase with the number of children. Additionally … case, pensions are decreasing in the number of children: in the latter case, they are increasing. …

these developments, policyholders desire pensions tailored to their individual needs. This paper proposes a new type of … risk-sharing functions of pensions, PPRs allow risk management and (dis)saving to be customized to the specific features of … illiquid capital, complementing public retirement provision, reducing the interest-rate sensitivity of pensions and smoothing …

is higher from regular than from transitory income sources, and higher for pensions than for child benefits and other …