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The stock market collapse led to political tensions between generations due to the fuzzy definition of the property rights over the pension funds’ wealth. The problem is best resolved by the introduction of generational accounts. Modern consumption and portfolio theory shows that the younger...
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of return to the member’s accumulated pension savings, and a percentage of the potential positive return of the benchmark … index. The SP will enable pension members to increase the potential return on their accumulated savings without exposure to … from the sale of the SP to pension members, and its members, who want to ensure their pension savings against declines in …
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