Costs and Benefits of Collective Pension Systems
Title | Costs and Benefits of Collective Pension Systems PDF eBook |
Author | Onno W. Steenbeek |
Publisher | Springer Science & Business Media |
Pages | 247 |
Release | 2007-10-11 |
Genre | Political Science |
ISBN | 354074374X |
Recommended by Nobel Laureate Robert C. Merton, this book offers the world a first-hand opportunity to learn why the Dutch pension system is so often praised and how it operates. The book also discusses aspects of the system that are less favorable, such as implicit value transfers from younger to older generations that limit mobility of labor. Throughout the discussions, the authors provide quantitative evidence to support their assertions.
Costs and Benefits of Collective Pension Systems
Title | Costs and Benefits of Collective Pension Systems PDF eBook |
Author | Onno W. Steenbeek |
Publisher | Springer |
Pages | 247 |
Release | 2009-09-02 |
Genre | Political Science |
ISBN | 9783540842620 |
Recommended by Nobel Laureate Robert C. Merton, this book offers the world a first-hand opportunity to learn why the Dutch pension system is so often praised and how it operates. The book also discusses aspects of the system that are less favorable, such as implicit value transfers from younger to older generations that limit mobility of labor. Throughout the discussions, the authors provide quantitative evidence to support their assertions.
Reform Options for Mature Defined Benefit Pension Plans: The Case of the Netherlands
Title | Reform Options for Mature Defined Benefit Pension Plans: The Case of the Netherlands PDF eBook |
Author | Mr.Marc Gerard |
Publisher | International Monetary Fund |
Pages | 30 |
Release | 2019-01-25 |
Genre | Business & Economics |
ISBN | 1484395913 |
The Netherlands has been operating fully funded, defined benefit second pillar pension schemes that have consistently ranked high worldwide for delivering high replacement rates while featuring strong solidarity among members. Yet the long-term sustainability of the Dutch pension funds has been undermined in recent years by protracted low interest rates and unfavorable demographic developments, exacerbating controversies over intergenerational transfer mechanisms within the plans. This has prompted a national debate over ways to move toward more individualization while preserving financial security at retirement for all. This paper draws on this experience, illustrated by stress testing simulations and assessed vis-à-vis solutions implemented in peer countries, to discuss the main policy trade-offs associated with the reform of mature pension systems in advanced economies.
Labor's Capital
Title | Labor's Capital PDF eBook |
Author | Teresa Ghilarducci |
Publisher | MIT Press |
Pages | 244 |
Release | 1992 |
Genre | Business & Economics |
ISBN | 9780262071390 |
This examination of the 120-year-old American system of privatized social insurance reveals that the system fails to provide adequate retirement income security, its most prominent goal, and, in fact, its greatest influence is in supplying funds to U.S. capital markets.
Reforming Pensions
Title | Reforming Pensions PDF eBook |
Author | Nicholas Barr |
Publisher | Oxford University Press |
Pages | 261 |
Release | 2009-11-30 |
Genre | Business & Economics |
ISBN | 0199889066 |
Mandatory pensions are a worldwide phenomenon. However, with fixed contribution rates, monthly benefits, and retirement ages, pension systems are not consistent with three long-run trends: declining mortality, declining fertility, and earlier retirement. Many systems need reform. This book gives an extensive nontechnical explanation of the economics of pension design. The theoretical arguments have three elements: * Pension systems have multiple objectives--consumption smoothing, insurance, poverty relief, and redistribution. Good policy needs to bear them all in mind. * Good analysis should be framed in a second-best context-- simple economic models are a bad guide to policy design in a world with imperfect information and decision-making, incomplete markets and taxation. * Any choice of pension system has risk-sharing and distributional consequences, which the book recognizes explicitly. Barr and Diamond's analysis includes labor markets, capital markets, risk sharing, and gender and family, with comparison of PAYG and funded systems, recognizing that the suitable level of funding differs by country. Alongside the economic principles of good design, policy must also take account of a country's capacity to implement the system. Thus the theoretical analysis is complemented by discussion of implementation, and of experiences, both good and bad, in many countries, with particular attention to Chile and China.
The Evolving Pension System
Title | The Evolving Pension System PDF eBook |
Author | William G. Gale |
Publisher | Brookings Institution Press |
Pages | 252 |
Release | 2005 |
Genre | Political Science |
ISBN | 9780815731184 |
The Evolving Pension System examines the foundations and the future of the private pension system. It provides a broad overview of the underlying assumptions, characteristics, and effects of existing pension policy, as well as alternative views on how public policy toward pensions should evolve in the future.Contributors include Robert Clark (North Carolina State University), Eric Engen (Federal Reserve Board), William G. Gale (Brookings Institution), Theodore Groom (Groom Law Group, Chartered), Daniel Halperin (Harvard), Alicia Munnell (Boston College), Leslie Papke (Michigan State University), Joseph Quinn (Boston College), Sylvester Schieber (Watson Wyatt), John B. Shoven (Stanford), and Jack Vanderhei (Temple University and EBRI).William G. Gale is the Joseph A. Pechman Fellow in the Economic Studies program at the Brookings Institution. John B. Shoven is Charles R. Schwab Professor at Stanford University. Mark J. Warshawsky is director of research at the TIAA-CREF Institute.
The Role of the State in Pension Provision: Employer, Regulator, Provider
Title | The Role of the State in Pension Provision: Employer, Regulator, Provider PDF eBook |
Author | Gerard Hughes |
Publisher | Springer Science & Business Media |
Pages | 162 |
Release | 2013-03-09 |
Genre | Business & Economics |
ISBN | 1475767897 |
This book deals with the role of the State in pension provision as an employer, regulator and provider. Part I deals with problems and reforms of public sector pension systems in OECD countries. The countries covered are Denmark, Finland, Germany, The Netherlands, Norway, and the USA. Part II considers the regulation of occupational pension schemes in The Netherlands and the United Kingdom, and whether there is still a role for the State in providing earnings-related pensions in the United Kingdom. Part III presents demographic projections for the next half-century, using Ireland as an example, looks at some of the options which have been used in Finland, and proposed in the United States, to cope with population ageing, and examines issues of intergenerational equity which are posed by these options. All the chapters deal with recent reforms. The chapters are written by acknowledged experts in their field who are independent of both the pensions industry and Government. Hence the chapters provide an informed critical account of current developments in relation to the reform of occupational pension schemes in the public sector and of the debate about the State's role as a regulator of private pension schemes and a provider of pensions based on the social insurance principal. The book is important as a source of information about pension schemes in OECD countries. It shows that there is not a unique model of occupational pension provision for public sector employees and that the pension benefits which are provided in different countries are quite variable. It also shows that public sector occupational pension systems have changed and are in the process of considerable further change in a number of OECD countries.