Participation in funded pensions by type of contract

2019 ◽  
Keyword(s):  
Funded Pensions

The long run influence of pension systems on the current account

2019 ◽  
Vol 20 (1) ◽  
pp. 67-101
Author(s):  
Thomas Davoine
Keyword(s):  
Current Account ◽  
Overlapping Generations ◽  
Current Account Balance ◽  
Current Account Surplus ◽  
Pension Systems ◽  
Long Run ◽  
Funded Pensions ◽  
Future Consumption ◽  
Cross Country ◽  
The Current Account

AbstractExplaining cross-country differences in current accounts is difficult. While pay-as-you-go pensions reduce the need to save for retirement, contributions to capital-funded pensions are saved for future consumption. An overlapping-generations analysis shows that capital-funded pensions increase net foreign assets holdings. With a multi-pillar system whose capital-funded part accounts for 18% of pensions, the Austrian current account balance would be 1 percentage point of gross domestic product (GDP) higher than with pure pay-as-you-go pensions in 20 years. By comparison, the Austrian current account surplus averages 1.8% of GDP. Empirically, I find that the current account of high-income countries increases with the coverage and replacement rates of capital-funded pensions.

Modern Social Democracy and European Welfare State Reform

2002 ◽  
Vol 1 (1) ◽  
pp. 67-76 ◽  
Author(s):  
Jochen Clasen
Keyword(s):  
Market Integration ◽  
Social Protection ◽  
Social Democracy ◽  
Social Needs ◽  
Third Way ◽  
Social Democratic ◽  
The Third ◽  
European Welfare State ◽  
Social Risks ◽  
Funded Pensions

The European political landscape in the 1990s was characterised by centre-left parties returning to power in several countries after long periods in opposition. Following intensive internal debates over policy direction and policy revision, once back in power some centre-left governments in some countries have used terms such as the ‘third way’ and ‘new social democracy’, or the ‘Neue Mitte’ as an indication that contemporary policies should be seen as distinct from those pursued by both previous social democratic administrations and neo-liberal governments in the interim (e.g. Gamble and Wright, 1999; White, 2001). What, if anything, exactly constitutes the ‘third way’ has been a matter of considerable debate, as has been the question of how far traditional social democratic values and aspirations, such as solidarity and equality, are still relevant within ‘third way’ policies. More than previously, modern social democratic policy is geared towards reducing non-wage labour costs, fostering private forms of social protection, such as funded pensions, intensifying labour market integration and subsidising low-skilled jobs, but also incorporating new social risks and new social needs (Vandenbrouke, 2001).

scholarly journals Funded Pensions and Economic Growth

De Economist ◽  
2018 ◽  
Vol 166 (3) ◽  
pp. 337-362 ◽  
Author(s):  
Michiel Bijlsma ◽  
Johannes Bonekamp ◽  
Casper van Ewijk ◽  
Ferry Haaijen
Keyword(s):  
Economic Growth ◽  
Funded Pensions

The World Bank, Pensions, and Income (In)Security in the Global South

1995 ◽  
Vol 25 (4) ◽  
pp. 697-725 ◽  
Author(s):  
Susanne S. Paul ◽  
James A. Paul
Keyword(s):  
World Bank ◽  
Structural Adjustment ◽  
Pension Reform ◽  
Later Life ◽  
Global South ◽  
Reform Process ◽  
The World Bank ◽  
The World ◽  
Funded Pensions ◽  
Support Mechanisms

The authors describe and analyze recent reductions and reorganizations of public pension programs in Latin America, as well as trends in pensions in the global South more broadly. They consider the role of the World Bank in the current pension “reform” process and situate the Bank's policies in the context of privatization, reduction of social budgets, and other aspects of structural adjustment. Chilean pension changes are analyzed in particular, showing that even by the Bank's criteria, the reforms have not been successful. The authors then discuss pension changes in China, where the World Bank is also deeply involved. The article concludes with the consideration of a number of arguments about pensions and support mechanisms in later life—including family support and means-tested welfarism—and argues in favor of global policy approaches, such as globally funded pensions and full access by older persons to productive and remunerated labor.

Do funded pensions contribute to higher aggregate savings? A cross-country analysis

1998 ◽  
Vol 134 (4) ◽  
pp. 692-711 ◽  
Author(s):  
Jeannine N. Bailliu ◽  
Helmut Reisen
Keyword(s):  
Funded Pensions ◽  
Country Analysis ◽  
Cross Country

Paul V. Dutton,Origins of the French Welfare State: The Struggle for Social Reform in France, 1914–1947. Cambridge: Cambridge University Press, 2002. xiii + 251 pp. $65.00 cloth; $27.00 paper.

2004 ◽  
Vol 66 ◽  
pp. 194-196 ◽  
Author(s):  
Herrick Chapman
Keyword(s):  
Welfare State ◽  
Social Insurance ◽  
Western Europe ◽  
Second World War ◽  
Publicly Funded ◽  
World War ◽  
Cambridge University ◽  
Funded Pensions ◽  
Private Government ◽  
Second World

Comparative studies of social policy usually portray the French welfare state as lagging behind most of its counterparts in Western Europe during the first decades of the twentieth century. The sheer complexity of the French system, moreover, with its baroque mixture of separate private, government and quasi-public funds, made it exceptional as well. Yet tardiness and complexity by no means prevented the French from expanding social insurance at an especially rapid clip in the decades following the Second World War. By 1980 France spent more on social security as a percentage of Gross Domestic Product than any country in Europe except Denmark, Sweden and the Netherlands. Today the French are among Europe's most stalwart defenders of publicly funded pensions and health insurance. Given its unimpressive beginnings, how did the French welfare state become such a heavyweight?

scholarly journals Kapitaldeckungs- versus Umlageverfahren

2000 ◽  
Vol 1 (4) ◽  
pp. 383-405 ◽  
Author(s):  
Friedrich Breyer
Keyword(s):  
Social Security ◽  
Old Age ◽  
Social Security Systems ◽  
Financing System ◽  
Security Systems ◽  
Rates Of Return ◽  
Radical Reform ◽  
Funded Pensions ◽  
Unfunded Social Security ◽  
Academic Debate

Abstract In the academic debate on systems of old-age insurance no question is as controversial and as vigorously discussed as the choice between funded and unfunded financing modes. At first glance this is surprising because this choice seems to involve only an efficiency problem. However, closer inspection reveals that a change of the financing system implies redistribution, if not within, at least among, different generations. In this contribution, the present state of knowledge on the functioning and the effects of the two financing systems is summarized. The analysis focuses on a comparison of rates of return and risks involved in each system and on the problems connected with a transition from unfunded to funded pensions. As a result it is argued that without reference to specific criteria of distributive equity among generations the nowadays popular call for radical reform of unfunded social security systems is not well founded.

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