contributions. In a general equilibrium setup, these risks also affect wages and thus pension benefits and replacement rates. We … contributions over time under demographic and economic risks. Smoothing is affected by the revisions in long-term forecasts and is … thus imperfect. As a partially funded defined-benefit system, demographic risks and asset yield risks directly affect the …

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 …

systems are financed by contributions from the payroll, and are mostly pay-as-you-go. Thus if a municipality decides to buy … services from the private sector, instead of producing them by own employees, the pension contributions will go to the private …

in the long term. This is because also the benefits are partially linked to wages. But if the rate of return on the …

Moral hazard means that people with insurance may take greater risks because they know they do not bear the full … financing social-insurance benefits. At retirement, the remaining balances in the accounts are paid to account holders or added … to their retirement benefits. If the account balance is negative at that time, the account is set to zero. The report …

This study analyzes the sustainability implications of demographic and investment risks in the Finnish private sector … the contribution rate without fixing the contribution rate permanently. -- Sustainability ; demographic risks ; investment … expenditure. The main sustainability problem is not, however, the generally projected increase in the contribution rate, but the …

Moral hazard means that people with insurance may take greater risks because they know they do not bear the full … financing social-insurance benefits. At retirement, the remaining balances in the accounts are paid to account holders or added … to their retirement benefits. If the account balance is negative at that time, the account is set to zero. The report …