One of the most important consequences of the Chilean pension reform undertaken in the early 1980s was to transfer a significant portion of the risk associated to the financing of pensions, from the State, to the pension fund participants of the newly established compulsory pension system. This...

The paper represents author's research on efficiency on pension systems and effectiveness of state social care policies from the perspective of stability of life at the end of career ladder. It refers to the topic Work - Labor/Value, where former employees' rights and the impact on countries'...

This paper examines how investor and capital flows into mutual funds in the Swedish pension system are related to fund characteristics. Similarly to U.S. studies, we show that individuals chase past returns and have a strong preference for lower-fee funds. However, our results suggest that past...

This article presents the historical development and the present state of the pension system in Argentina. The two basic Argentina?s pension reforms, taking place in 1994 and 2008, had opposite directions. While the first of them introduced the country to the group of world leaders in...

The reform of the pension system in Poland took place in 1999, when the one-pillar Pay-As-You-Go system (PAYG) was replaced by the three-pillars system consisting of two mandatory (PAYG and fully funded) pillars and voluntary (funded) one. However problems concerning budget deficit in Poland...

This paper provides a detailed examination of individuals' active participation in a new public and mandatory defined contribution pension system. The new pension system was launched in the fall of 2000 and entitles Sweden's workforce of 4.4 million individuals to invest part of their individual...

The article presents an analysis of welfare effects in Slovenia, an analysis of supplementary pension insurance in Slovenia and an analysis of effects of the pension fund deficit on sustainability of Slovenian public finances. Stress was layed upon varying the parameters of the current Slovenian...

This paper examines how investor and capital flows into mutual funds in the Swedish pension system are related to fund characteristics. Similarly to U.S. studies, we show that individuals chase past returns and have a strong preference for lower-fee funds. However, our results suggest that past...

The objective of this paper is to realize a configuration of today’s pension systems in the various countries member of the European Union. The authors put into discussion also the importance of private component in the supply of pensions, summarizing the debate regarding a certain...