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Pensions may be provided for in a modern society by several methods, viz., voluntary individual savings, mandatory fully funded occupational pension systems, and mandatory social security financed by pay-as-you-go. The specific mixture of the three systems we will call the pension composition....
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1. Introduction -- 2. The evil of a premature death -- 3. An insurance against a short life -- 4. Reversing retirement … insurance against the risk of an early death. In contrast to the way in which economically developed countries provide ways of … nonetheless possible to construct a social insurance against the risk of a short life by means of age-based statistical …
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reforms for a fixed retirement age distribution. The behavioral effect accounts for the endogenous change caused by changes in …
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