Benefit reductions will likely be a part of the eventual Social Security reform in the United States. This research attempts to quantify the intragenerational and intergenerational impacts of different benefit reduction proposals on the incomes of the elderly. Reforms include across-the-board...

Pakistan’s pension system is in the process of increasing funding in anticipation of providing for a growing elderly population. The pension assets are mainly invested domestically, as it was just in January 2007 that regulations changed to allow the purchase of international assets. In this...

We seek to analyze a number of important issues related to the ownership of government pensions. In the United States, Social Security is operated on a pay-as-you-go basis, with some limited pre-funding to prepare for the baby boom retirement. Moving toward more of a defined contribution system...

An understanding of the financial and distributional consequences of Social Security reform requires knowledge about the actual life circumstances of participants, including the level and pattern of their lifetime earnings and when they retire. Some analyses of Social Security reform make...

In recent years, the share of elderly in the total population is increasing around the world. Rising proportionally are claims on public pension systems and health care expenditures. This places extra pressure on government budgets. As a result, countries which implement only pay-as-you-go...

The present paper is based on earlier studies by Kifmann (2001) and Buslei (2002) and constitutes an evaluation of the effects of subjecting self-employed people to the statutory pay-as-you-go pension system from 2005 onwards by using a computable general equilibrium model with overlapping...

The Stability and Growth Pact (SGP) adopted in 1997 originally set budget balance as the medium-term objective (MTO) for all EU Member States, to create a safety margin under the 3% of GDP deficit ceiling. In a reform in 2005, MTOs were made country-specific and dependent on initial debt and the...

This article concentrates on the possible relationship between trade and pension systems. I consider trade between a capital-abundant home and a labor-abundant foreign country. The underlying model is a two-period overlapping generations-model augmented with factor-price changes resulting from...

This article seeks to highlight the concern of the EU for social dimension and measures implemented in public expenditures for social security. Also, place the value systems and public spending that the European Union has practiced and practice them today. Future funding of pension insurance...

To what extent do older Americans re-enter the labor force after an initial exit and what drives these “unretirement” decisions? Retirement for most older Americans with full-time career jobs is not a one-time, permanent event. Labor force exit is more likely to be a process. Prior studies...