European Parliament Library

Public Pension Reform :, A Primer, Alain Jousten

The present paper reviews key issues in pension design and pension reform encountered all across the world. The paper heavily refers to the recent U.S. Social Security reform debate in general and to the Personal Retirement Accounts proposal in particular. A particular emphasis is put on annuitization and risk-taking in the economy. Our discussion signals some inadequacy of the proposed measures with respect to the goals of viability of the system and individual financial security during retirement
Table Of Contents
Contents; I. Introduction; Tables; 1. Total Fertility, Under Different Scenarios; 2. Life Expectancy at Birth, 2000-05 and 2045-50; II. The Social Security Reform Proposal; A. Summary; B. PRA; III. Pensions: the Basics; A. Longevity Risk and the Role of Annuities; B. The Notion of Actuarial Neutrality; C. Defined Benefit and Defined Contribution Plans; D. PAYG and the Accounting of Public Pensions; E. Why Public Intervention?; IV. Pension Reform and PRA; A. Demographics and PAYG; B. Individual Savings and Returns; C. Increased Aggregate Savings; D. Accounting for Private Sector Pensions
Literary Form
non fiction
Description based upon print version of record
Physical Description
1 online resource (38 p.)
Specific Material Designation
Form Of Item

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