scholarly journals What Do We Learn About Redistribution Effects of Pension Systems from Internationally Comparable Measures of Social Security Wealth?

2017 ◽  
Author(s):  
Michele Belloni ◽  
Agar Brugiavini ◽  
Raluca Buia ◽  
Ludovico Carrino ◽  
Danilo Cavapozzi ◽  
...  
Keyword(s):  
Social Security ◽  
Pension Systems ◽  
Social Security Wealth

scholarly journals What do we learn about redistribution effects of pension systems from internationally comparable measures of Social Security wealth?

2019 ◽  
Vol 19 (4) ◽  
pp. 548-566
Author(s):  
Michele Belloni ◽  
Agar Brugiavini ◽  
Raluca E. Buia ◽  
Ludovico Carrino ◽  
Danilo Cavapozzi ◽  
...  
Keyword(s):  
Social Security ◽  
Individual Level ◽  
Pension Systems ◽  
Social Security Wealth ◽  
The Individual ◽  
The Relationship ◽  
Country Specific

AbstractWe present novel estimates of Social Security Wealth (SSW) at the individual level based on the SHARE survey. Our estimates are based on a rigorous methodology taking into account country-specific legislations, the earning history and the longevity prospects of individuals. The key advantage over existing estimates is that our measures of SSW are fully comparable across countries. This allows us to construct indexes of the redistribution enacted by the pension systems in Europe. Finally, we provide descriptive evidence of the relationship between SSW and private wealth.

The portfolio effect of pension reforms: evidence from Italy

2010 ◽  
Vol 10 (1) ◽  
pp. 75-97 ◽  
Author(s):  
RENATA BOTTAZZI ◽  
TULLIO JAPPELLI ◽  
MARIO PADULA
Keyword(s):  
Real Estate ◽  
Social Security ◽  
Household Income ◽  
Pension Reforms ◽  
Italian Survey ◽  
Social Security Wealth ◽  
Portfolio Effect ◽  
Pension Benefits ◽  
Social Security Benefits

AbstractWe estimate the portfolio effect of changes in social security wealth exploiting a decade of Italian pension reforms. The Italian Survey of Household Income and Wealth records detailed portfolio data and elicits expectations of retirement outcomes, thus allowing us to measure expected social security wealth and assess to what extent Italian households perceive the innovations brought about by the reforms. We find that households have responded to cuts in pension benefits mostly by increasing real estate wealth, and that this response is stronger among households able more accurately to estimate future social security benefits. We also compute that for the average household consumable wealth increases by 40 percent of the reduction in social security wealth.

A Crisis of Longer Life: Reforming Pension Systems

1999 ◽  
Vol 5 (1) ◽  
pp. 55-113 ◽  
Author(s):  
C.D. Daykin ◽  
D. Lewis
Keyword(s):  
European Union ◽  
Latin America ◽  
Social Security ◽  
Eastern Europe ◽  
Central And Eastern Europe ◽  
Oecd Countries ◽  
Demographic Ageing ◽  
Pension Systems ◽  
Pension Schemes ◽  
The World

ABSTRACTSocial security pension schemes around the world are facing a number of problems, of which demographic ageing is the most commonly discussed. This paper provides an overview of expected future demographic developments in European Union and some other OECD countries, and evaluates some of the range of solutions which have been, or are being, considered to address this and other problems facing social security in the late 1990s, drawing on examples from OECD countries, from Latin America and from central and eastern Europe. Consideration is given to the possibilities for increasing the level of funding in social security pension schemes or developing funded complementary pension schemes.

scholarly journals Financial Knowledge and Financial Literacy at the Household Level

2012 ◽  
Vol 102 (3) ◽  
pp. 309-313 ◽  
Author(s):  
Alan L Gustman ◽  
Thomas L Steinmeier ◽  
Nahid Tabatabai
Keyword(s):  
Social Security ◽  
Financial Literacy ◽  
Financial Knowledge ◽  
Household Level ◽  
Retirement Saving ◽  
Social Security Wealth ◽  
Intermediate Role

There is evidence of a relation between numeracy and wealth held outside of pensions and Social Security. With pensions and Social Security accounting for half of wealth at retirement, and evidence that those with pensions save more in other forms, one would expect to find knowledge of pensions and Social Security influencing retirement saving. Yet we find no evidence that knowledge of pensions and Social Security is related to nonpension, non-Social Security wealth, to numeracy, or that it plays an intermediate role in the numeracy-wealth relation. Our findings raise questions about policies that would enhance numeracy to increase retirement saving.

The State, Pensions and the Philosophy of Welfare

1985 ◽  
Vol 14 (4) ◽  
pp. 467-490 ◽  
Author(s):  
Norman P. Barry
Keyword(s):  
Social Justice ◽  
Social Security ◽  
The State ◽  
Future Generations ◽  
Pension Scheme ◽  
Pension Systems ◽  
The Us ◽  
Welfare Systems ◽  
State Welfare ◽  
State Pension

ABSTRACTThis is a study of the prevailing state pension systems in Britain and the US in the context of a philosophy of welfare that has developed over the last decade. In this philosophy state welfare systems are justified in terms of their maximizing liberty and autonomy rather than merely social justice. It is argued that the state earnings-related pension scheme in Britain and social security in the US, because they are ‘unfunded’ and paid for out of current taxation, are not merely inefficient but also reduce the independence of individuals and impose high burdens on future generations. It is argued that no philosophical justification can be given for this imposition. The major theoretical flaw in state-managed pension arrangements, it is claimed, is the confusion of the welfare principle with the insurance principle.

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