-As-You-Go (PAYG) social security, and the mix ofPAYG and savings for retirement provision in a small open economy. It shows that … paper also provides acondition for partial displacement of savings by the PAYG, which is in line with vastempirical evidence. …

consumption and portfolio theory shows that the younger generations should have the higher equity exposure due to their human …

Pensions may be provided for in a modern society by several methods, viz., voluntary individual savings, mandatory … individual savings, that the fully funded occupational system is decided upon by the age cohort of the median worker and that … decisions is a Pareto-equilibrium. Nowadays most of capital supply stems from individual and institutionalised pension savings …

Since the early nineties, the Dutch tax system allows for a tax-favored form of risk free savings through employer …-sponsored savings plans (ESSPs). Under some conditions and up to a certain amount, the contributions to this planare tax-deductible, and … suggests that those who have access to this type of savings should participate inthem, provided they have some financial wealth …