This paper explores the appropriate development of policy towards mandatory, retirement income streams within this broad framework, paying particular attention to the economic environments relevant to developing economies. After a review of existing practices, numerical simulation techniques are...

Formal retirement income provision in Australia, can be traced back to occupational schemes first offered by banks, and state governments in the nineteenth century. However, the year 1909 marks the beginning of a national retirement income policy, with the introduction of means-tested age...

The academic literature on pension governance is sparse and this book will fill some important gaps by bringing together original contributions from around the world on subjects related to the area. The book initially lays out the main frameworks for pension fund governance and then goes on to...

The academic literature on pension governance is sparse and this book will fill some important gaps by bringing together original contributions from around the world on subjects related to the area. The book initially lays out the main frameworks for pension fund governance and then goes on to...

The academic literature on pension governance is sparse and this book will fill some important gaps by bringing together original contributions from around the world on subjects related to the area. The book initially lays out the main frameworks for pension fund governance and then goes on to...

The complex matrix of retirement policy trade-offs – encompassing elements of paternalism, market failure, and overlaying incentives in a life-cycle context – have received much attention in the literature. But the issue of whether publicly-funded retirement provision should be means-tested,...

This paper studies the interaction between capital income taxation and a means tested age pension in the context of an overlapping generations model, calibrated to the UK economy. Recent literature has suggested a rehabilitation of capital income taxation (Conesa et al. (2009)), predicated on...

We exploit a comprehensive restructuring of the early retirement system in Norway in 2011 to examine labor supply responses to alternative pension reform strategies relying on improved work incentives (flexibility) or increased access ages (prescription), respectively. We find that increasing...

The budgetary cost of any government program should be measured by its impact on the public sector budget balance, over its effective time frame. Typically, official cost estimates focus on the value of outlays only, and thus create a misleading impression of the opportunity cost of some policy...