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“unlocking” of funds transferred from pension plans to locked-in retirement plans.The funds are normally transferred on the … termination or retirement of a pension plan member. Locked-in retirement plans limit the access of plan owners to the former … inherit from their more senior, but possibly more frugal, parents.While all locked-in retirement plans share the common …
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This paper presents examination of how a pension policy affects income growth and the inflation rate in a utility model. Even if the contribution rate of pension increases because of an aging society, an aging society increases income growth and the inflation rate. Moreover, this paper presents...
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"Aging populations in advanced economies are placing ever-increasing demands on government spending in the form of old-age benefits. Economies that have promised substantially more benefits than they have made provision to finance are heading into a prolonged era of fiscal stress. Unresolved...
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Using an overlapping generations model in which the young save for old age using indexed and nominal government bonds, this paper investigates how optimal indexation is influenced by monetary policy. In order to do so, two monetary policies with markedly different long run implications are...
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