In Hungary, initial pensions are indexed to average net wages, reported by official earnings statistics (ES), which … regarding the path of net wages and implied (hypothetical) initial pensions. The main implications of this exercise are the …

average, LAC's pension systems are subsidized, as they provide pensions above what workers would have obtained by investing … replacement rates (pensions relative to earnings) for low-income workers. Despite this progressivity, in some countries, absolute … much more progressive, but still, because low-income workers do not qualify for minimum pensions, between 50-60% of …

rules, such as a link between life expectancy and pensions or retirement age, the tax regime shift can be used to improve …

This paper studies how prefunding public pensions can improve policy outcomes when short-sighted governments cannot … commit. We focus on sustainable plans, where optimal nonlinear pensions are not reneged on by sequential governments …. Prefunding pensions is a commitment mechanism. It implies lower contributions than does the second best policy, which reduces …

until 2050. To quantify the effects on pensions, taxes and social contributions, we use an overlapping generations model …

from Turkey and India, developing countries rank low due to low spending on the old (pensions, health care) and the young …

-saving schemes. This is true even in dynamically efficient economies where such pensions offer a lower return. The classic Aaron … pensions arises but only if voluntary retirement saving is fully crowded out because of a binding borrowing constraint. This …-paternalistic, welfare rationale for return-dominated, PAYG pensions to coexist with private retirement saving. …