Pensions may be provided for in a modern society by a mix of several methods, namely by voluntary individual savings … workers decide on their own individual savings, that the fully-funded occupational system is decided upon by the age cohort of … interests of the different groups are only partly coinciding. For a given demography and interest rate, the joint result of the …

Pensions may be provided for in a modern society by a mix of several methods, namely by voluntary individual savings … workers decide on their own individual savings, that the fully-funded occupational system is decided upon by the age cohort of … interests of the different groups are only partly coinciding. For a given demography and interest rate, the joint result of the …

Pensions may be provided for in a modern society by several methods, viz., voluntary individual savings, mandatory … individual savings, that the fully funded occupational system is decided upon by the age cohort of the median worker and that … social security is decided upon by the median voter. For a given demography and interest rate the joint result of those …