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This paper reviews the factors that should guide the design of private funded pensions to create a complete pension system alongside a notional defined contribution -- or public -- component. It argues that a mix of public and private pensions is the most effective option to deliver the best...
Persistent link: https://www.econbiz.de/10012920301
This paper analyzes the impact of aging on capital accumulation and welfare in a country with a sizable unfunded social security system. Using a two-period overlapping generation model with endogenous retirement decisions, the paper shows that the type of aging and the type of unfunded social...
Persistent link: https://www.econbiz.de/10012970979
In 2013, Mexico's Social Pension Program for the Elderly was expanded by changing its eligibility threshold from age 70 to age 65. Using pooled cross-sectional data from Mexico's National Household Income and Expenditure Survey, the exogenous variation around eligibility age was exploited to...
Persistent link: https://www.econbiz.de/10012944259
The passivity of the demand for pension products is one of the striking features of mandatory pension systems. Consequently, the provision of multiple investment alternatives to households (multifund schemes) does not ensure that contributions are invested efficiently. In addition, despite the...
Persistent link: https://www.econbiz.de/10012975811
Alleviating poverty for the elderly requires a different approach from other age groups, and a minimum pension is likely to be the only viable option. This paper examines the impact on old age poverty and the fiscal cost of universal minimum old age pensions in 18 Latin American countries using...
Persistent link: https://www.econbiz.de/10012976556
countries that need to increase retirement savings but face political resistance to mandatory increases in contribution rates …
Persistent link: https://www.econbiz.de/10012966003
Countries around the world face a retirement crisis brought on by aging populations, declining birthrates, and fiscal … shortfalls. As a result, policy makers increasingly seek to understand retirement savings patterns, a crucial component of the … with high savings rates, are also more likely to save for old age. The paper also finds that measures to increase trust in …
Persistent link: https://www.econbiz.de/10012968757
estimates the association between changes in the share of working-age population with per capita growth, savings, and poverty … gross domestic product per capita growth by more than one percentage point, with similarly positive effects on savings and …
Persistent link: https://www.econbiz.de/10012968199
One of the primary motivations behind the establishment of noncontributory pension programs is to allow beneficiaries to retire from the labor force. Yet, as with other unconditional cash transfer schemes, their aggregate effects may be more complex. Using panel data and instrumental variable...
Persistent link: https://www.econbiz.de/10012970458
savings schemes. But they exhibit important differences in the structure and role of different pillars, regulation of payout …
Persistent link: https://www.econbiz.de/10012976565