The history of the support by society of the aged is discussed in cross cultural and historical context. Various cultural traditions are compared with the forms developed in complex societies from ancient Egypt and Greece and Rome, to China, the Aztec, Inca and Maya, to those of religious...

We analyze the rationale for the pay-as-you-go (paygo) pension system existence on diversi fication grounds. A continuous-time portfolio choice setting is built, basing on Merton (1971)´s analysis, where a reasonable balance between the taking account of the economic and fi nancial facets of...

The need for reform of the regulation and design of workplace pensions for Canadians sparked three major provincial reviews by Ontario, Alberta and British Columbia, and Nova Scotia between November 2008 and January 2009. While Canadians with incomes below half the average wage are generally...

The focus of this paper is the Canadian occupational plan system. Although others may be relevant, three questions assist in evaluating that system. Do enough people have an occupational pension plan (the “coverage question”), are occupational pension plans affordable and efficient methods...

In this paper we use the actual rules and formulas of an occupational pension fund, the state pension fund and the tax system in the Netherlands to calculate net replacement rates at each age from 60 to 70 in full and partial retirement scenarios. We then vary the parameters of the pension...

The objective of this paper is to examine and analyze empirically whether the Central and Eastern Europe countries` reformed pension systems are providing adequate and safe pensions. Starting in 1990s, most Central and Eastern European countries radically reformed their pension systems. The...

This article explores the influence of the pension system on corporate governance, which has so far received little attention in the corporate law literature. While the shareholder-centric view of corporate governance is strong today, this is a relatively recent development. “Managerial...

This paper assesses the cost and risk faced by public sector, defined benefit plan providers arising from uncertain mortality, including longevity selection, mortality improvements, and unexpected systematic shocks. Using longitudinal micro data on Australian pensioners, we quantify the extent...

This research project gives an overview of the Polish pension system. It provides an analysis of the development of the public and private social security system since its reform in 1999. This paper also describes privately managed pension funds in Poland and briefly discuss its impact on the...

In Japan, the steady aging of the population dictates that whatever the outcome of the current debate on public pension reform, private pensions will become more important. Traditional defined benefit (DB) corporate pensions are unlikely to become more prevalent than they are today, however, due...