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by phasing out the farmers' regime (KRUS) and making pensions for miners and others with special regimes closer to …
Persistent link: https://www.econbiz.de/10011430865
by phasing out the farmers’ regime (KRUS) and making pensions for miners and others with special regimes closer to …
Persistent link: https://www.econbiz.de/10009147507
In any pension system based on capitalization, affiliates have to cover certain explicit costs which in a pay-as-you-go system would be implicit. In this paper we set out a model based on Whitehouse (2000) and Diamond (1999) to enable the explicit costs borne by the affiliate both during his...
Persistent link: https://www.econbiz.de/10005731135
We study the effects of demographic shocks and changes in the pension system on the macroeconomic performance of an advanced small open economy. An overlapping-generations model is constructed which includes a realistic description of the mortality process. Individual agents choose their optimal...
Persistent link: https://www.econbiz.de/10005094360
How might retirees consider deploying the retirement assets accumulated in a defined contribution pension plan? One possibility would be to purchase an immediate annuity. Another approach, called the 'phased withdrawal' strategy in the literature, would have the retiree invest his funds and then...
Persistent link: https://www.econbiz.de/10010298279
This paper addresses the questions of what is an economically efficient pension system, what are the externalities and what are the risks of the four alternative pension systems: financial defined contribution (FDC), notional or non-financial defined contribution (NDC), financial defined benefit...
Persistent link: https://www.econbiz.de/10010262119
argue that working citizens would benefit by having their pension funds accumulating in individual pension savings accounts … for three reasons. First, citizens would have a clear picture of the accumulation of their own pension savings throughout … member states should not allow individual pension savings accounts. This approach, as an alternative to forcing workers to …
Persistent link: https://www.econbiz.de/10010436020
argue that working citizens would benefit by having their pension funds accumulating in individual pension savings accounts … for three reasons. First, citizens would have a clear picture of the accumulation of their own pension savings throughout … member states should not allow individual pension savings accounts. This approach, as an alternative to forcing workers to …
Persistent link: https://www.econbiz.de/10009767598
Persistent link: https://www.econbiz.de/10005062845
Starting in 2009, the Labor Insurance (LI) program in Taiwan has allowed workers to choose between pension old-age benefits and one-time old-age benefits. The introduction of the pension option not only mitigates longevity risk for workers but also provides a higher expected present value of...
Persistent link: https://www.econbiz.de/10013066033