Arbeitspapier
Pension prefunding, ageing, and demographic uncertainty
Pension prefunding can be used to smoothe contribution rates in economies where ageing will increase pension expenditure. But how extensive should prefunding be, in a defined benefit pension system, when there is considerable uncertainty concerning future mortality, fertility, and migration? We study the prefunding rules in the Finnish earnings-related pension system with an OLG simulation model. Increasing the degree of prefunding could yield a more even intergenerational outcome and make future generations’ position better, but it is quite possible to overshoot and harm current generations too much. Making the degree of prefunding fertility-dependent seems a useful alternative. With declining fertility, current large cohorts would pay modestly increased contributions. The accumulated funds, however, will be huge in relation to the wage bills of smaller future cohorts. – Pensions ; partial prefunding ; ageing ; demographic uncertainty
- Sprache
-
Englisch
- Erschienen in
-
Series: ETLA Discussion Papers ; No. 741
- Klassifikation
-
Wirtschaft
- Thema
-
Rentenfinanzierung
Theorie
Finnland
Alternde Bevölkerung
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Lassila, Jukka
Valkonen, Tarmo
- Ereignis
-
Veröffentlichung
- (wer)
-
The Research Institute of the Finnish Economy (ETLA)
- (wo)
-
Helsinki
- (wann)
-
2000
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Lassila, Jukka
- Valkonen, Tarmo
- The Research Institute of the Finnish Economy (ETLA)
Entstanden
- 2000
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