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Public pension systems are usually pay-as-you-go financed, that is, current contributions cover the pension expenditures. However, some countries combine funding and pay-as-you-go within the first pillar. This article studies a mixed system where a part of the individual's contribution accrues...
Persistent link: https://www.econbiz.de/10012835080
We describe the points system that has been proposed by the Belgian Commission for Pension Reform 2020-2040. Intragenerational equity can be realised in a flexible and transparent way through the allocation of points within a cohort. The intergenerational distribution is determined by fixing the...
Persistent link: https://www.econbiz.de/10012957346
We describe the points system that has been proposed by the Belgian Commission for Pension Reform 2020-2040. Intragenerational equity can be realised in a flexible and transparent way through the allocation of points within a cohort. The intergenerational distribution is determined by fixing the...
Persistent link: https://www.econbiz.de/10012960692
Notional Defined Contribution (NDC) pension schemes are defined contribution plans which are pay-as-you-go financed. From a design viewpoint, the countries where NDCs have been implemented cannot guarantee sustainability due to the choice of notional return paid to the contributions and the...
Persistent link: https://www.econbiz.de/10012901559
The change in economic and sociodemographic reality, characterized by a continuous increase in longevity, the consequences of the economic crisis, and the lack of adequate adjustments of social security retirement pension systems everywhere, entails risks for workers and the social security...
Persistent link: https://www.econbiz.de/10012870012
The notional defined contribution pension scheme combines pay-as-you-go financing and a defined contribution pension formula. The return on contributions is based on an index set by law, such as the growth rate of GDP, average wages or contribution payments. The volatility of this return...
Persistent link: https://www.econbiz.de/10012970496
We describe the points system as proposed by the Belgian Commission for Pension Reform 2020–2040. Intragenerational equity can be realised through the allocation of points within a cohort. The intergenerational distribution is determined by fixing the value of a point for the newly retired and...
Persistent link: https://www.econbiz.de/10012920282
An increasing number of empirical studies have shown a positive relationship between lifetime income and life expectancy at retirement. One's income during the active part of one's career translates into the amount of retirement benefits one might receive, leading to actuarial unfairness inside...
Persistent link: https://www.econbiz.de/10012598969
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