The mission of the French High Commission for Pension Reform is to prepare the reform introducing a universal pension points system in France. This paper explains why implementing a universal points system in France would increase transparency, reduce inequality and generate efficiency gains for...

The aim of this study is to demonstrate that adopting the “85/95 Progressive” project – a change in social security rules that allows for eligibility according to the sum of one's age and overall contribution period – may have serious consequences for the worsening of social security...

This paper develops estimates of lifetime money's worth and redistributional outcomes under the Old Age and Survivors Insurance (OASI) program for all past, present, and future birth cohorts affected by the program through the cohort born in 2100. The estimates presented in this study...

Most countries in the Middle East and North Africa (MENA) region spend a considerable share of their national income on social protection. In Egypt and Jordan, for example, this share ranges between 20 and 25 %. Most of the money, however, is used for social protection instruments that suffer...

The dramatic rise in the US social security and public health expenditure is only partially explained by the demographic trend, and may be due to the political complementarity between these two programs. We suggest that public health care increases the political constituency in favor of social...

The COVID-19 pandemic has caused massive disruptions to the global economy and forced policymakers to respond to the newly created challenges. Many policy institutions have therefore had to rethink their established approaches and their usual policy responses.

This paper studies the optimal design of a pension system together with publicly-provided individualized financial education. Agents can invest in both a risky and a non risky asset and can either under- or over-estimate the expected return of the risky asset. We show that, under perfect...

For more than 25 years, the Social Security Trust Fund has been projected to run out of money in 2033 (give or take a few years), potentially causing benefits to be severely reduced in the absence of corrective legislative action. Today (February 2024), projections are made by the Social...