Arbeitspapier
The Gains from Pension Reform
We characterize pension systems along three dimensions: 1) actuarial vs. non-actuarial, 2) funded vs. pay-as-you-go, 3) defined-contribution vs. defined-benefit. Increasing the degree of actuarial fairness, by strengthening the linkage between contributions and benefits, reduces labor market distortions and may increase welfare in a Pareto-efficiency sense. Increasing the degree of funding implies mainly a redistribution of income among generations, although a partial shift to funding also provides better risk-return combinations for individuals. Shifting from defined-benefit to defined-contribution schemes (with fixed contribution rates) shifts the income risk from workers and taxpayers to pensioners.
- Language
-
Englisch
- Bibliographic citation
-
Series: IUI Working Paper ; No. 580
- Classification
-
Wirtschaft
Social Security and Public Pensions
- Subject
-
Social security
Funding
Rentenreform
Rentenfinanzierung
Umlageverfahren
Kapitaldeckungsverfahren
Theorie
- Event
-
Geistige Schöpfung
- (who)
-
Lindbeck, Assar
Persson, Mats
- Event
-
Veröffentlichung
- (who)
-
The Research Institute of Industrial Economics (IUI)
- (where)
-
Stockholm
- (when)
-
2002
- Handle
- Last update
-
10.03.2025, 11:44 AM CET
Data provider
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Object type
- Arbeitspapier
Associated
- Lindbeck, Assar
- Persson, Mats
- The Research Institute of Industrial Economics (IUI)
Time of origin
- 2002
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