The Croatian system of old-age provision comprises a traditional public pay-as-you-go scheme and a mandatory funded scheme ("second pillar") that will provide increasing amounts of supplementary pensions to those entering retirement in the future. Due to the continuing economic crisis, the...

This paper contains nine different essays on Social Security reform and multi-pillar pension plans. The nine topics are: 1. Transition costs2. Progressive indexation3. Government guarantees on private accounts4. Life cycle investing5. Impact of add-on accounts on Social Security solvency6....

This study introduces multiplayer game in the modern pension market. Particularly, this study claims that low earners and high earners have different interests when playing in funded pension market scheme. This differentiating is enabled by avoiding the entire society as a single earning cohort....