consequences of the economic crisis, and the lack of adequate adjustments of social security retirement pension systems everywhere … capitalization in the determination of the final pension through a life annuity to complement the public retirement pension as a …, entails risks for workers and the social security systems themselves. Many reforms of public pension systems have been carried …

the retirement funds of Italian Professional Orders, closed pension fund financed by pay-as-you-go. Numerical applications …The aim of this contribution is to study the sustainability of a pay-as-you-go pension fund, through the analysis of … demographic risk affecting these types of pension funds. A model for the evolution of the fund is presented considering the …

2005 and increased to 30.3% in 2020. Since the financial sources of pension payments are based on the contribution payments … of the economically active population, the ageing of the population puts the pension system in a continuous and more … relates the retirement age to expected life expectancy. Beyond this, we investigate how the government measures in the …

At retirement, workers wa ... …