The Non-financial (Notional) Defined Contribution (NDC) PAYGO pension scheme is a recent innovation and its generic dimensions have not previously been explored in a coherent context. This paper does this. It derives and analyzes the demographic, economic and distributional properties of NDC....

Seit Jahren wird jedes neugeborene Kind im Durchschnitt drei Monate älter als ein Neugeborenes des Vorjahres. Dieser Lebenserwartungsgewinn von sechs Stunden am Tag schlägt sich - bei konstantem Renteneintrittsalter - in steigenden Rentenlaufzeiten nieder. Die "Rente mit 67" versucht, einen...

Immigration has been popularised in the economics literature as a tool to balance the troubled PAYG pension systems. A pivotal research by Razin and Sadka showed that unskilled immigration can surmount the pension problem and, further, boost the general welfare in the host economy. However a...

Seit Jahren wird jedes neugeborene Kind im Durchschnitt drei Monate älter als ein Neugeborenes des Vorjahres. Dieser Lebenserwartungsgewinn von sechs Stunden am Tag schlägt sich - bei konstantem Renteneintrittsalter - in steigenden Rentenlaufzeiten nieder. Die "Rente mit 67" versucht, einen...

The social security system is the main and most important social protection system. It typically covers all citizens of the Republic of Moldova, paying social security contributions and benefits. In addition, the instrument of accumulation and redistribution of financial resources is the State...

A new born child has on average a three months longer life expectancy than a newborn of the previous year. Consequences of these gains in life expectancy are-in the case of a constant statutory retirement age-increasing pay-out-periods in the PAYGS. The retirement age of 67 tries to cover the...

Most industrialized countries are struggling with reforming their retirement income systems. The systems have mainly been based on public pay-as-you-go plans but as the systems have become mature they have increased the fiscal burden of nations and become an inadequate device for financial...

Most industrialized countries are struggling with reforming their retirement income systems. The systems have mainly been based on public pay-as-you-go plans but as the systems have become mature they have increased the fiscal burden of nations and become an inadequate device for financial...

Die Menschen in Deutschland werden im Durchschnitt immer älter - mit der Folge, dass die arbeitende Bevölkerung die Rente für immer mehr alte Menschen aufbringen muss. Ist dieser Veränderungsprozess allein mit dem Rentensystem auf Basis des Umlageverfahrens zu bewältigen oder werden...

Since the 2008 global financial crisis, those East European countries that had partly privatized their pension systems in the 1990s or early 2000s increasingly scaled back their mandatory private retirement accounts and restored the role of public provision. What explains this wave of reversals...