English, Article, Journal or magazine article edition: Fiscal Alternatives of Moving from Unfunded to Funded Pensions Robert Holzmann

User activity

Share to:
 
Bookmark: http://trove.nla.gov.au/version/86360
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Fiscal Alternatives of Moving from Unfunded to Funded Pensions
Author
  • Robert Holzmann
Physical Description
  • preprint
Notes
  • The reform of public pension systems has become a key policy issue in many countries. Because conventional approaches to reform largely unfunded retirement income schemes prove politically and economically difficult, attention has focused on the option of a partial shift towards funded provisions. Yet this too presents problems. This paper outlines the potential benefits of such a shift and highlights the main fiscal options and constraints. The liabilities to the current generation of retirees and workers under an unfunded pension scheme constitute a huge, hidden public debt. Most countries find that making this implicit debt fully explicit, repaying it and thus reversing the initial redistribution towards the start-up generation, lie beyond their political, economic and fiscal capacities. Thus, a shift requires simultaneous steps of the following sort: (i) a benefit reform of the unfunded scheme, reducing the implicit debt; (ii) a redesign of the basic tier remaining unfunded, to ... La réforme des systèmes publics d’assurance vieillesse est devenue un enjeu des politiques publiques dans un grand nombre de pays. Les approches classiques pour réformer en profondeur les régimes de retraite par répartition sont difficiles à mettre en œuvre aux niveaux politique et économique, aussi évoque-t-on de plus en plus la possibilité d’une réorientation partielle vers des systèmes de retraite par capitalisation. Toutefois, cette stratégie pose également problème. Ce document souligne les avantages potentiels d’une telle orientation et met en évidence les principales options et contraintes budgétaires. Les engagements pris envers la génération actuelle de retraités et d’actifs dans le cadre d’un système de répartition représentent un endettement public énorme et qui n’apparaît pas de manière officielle. La plupart des gouvernants considèrent que transformer cette dette implicite en un endettement totalement explicite, la rembourser et, ce faisant réaffecter la redistribution ...
  • RePEc:oec:devaaa:126-en
Language
  • English
Contributed by
OAIster

Get this edition

Other links

  • Set up My libraries

    How do I set up "My libraries"?

    In order to set up a list of libraries that you have access to, you must first login or sign up. Then set up a personal list of libraries from your profile page by clicking on your user name at the top right of any screen.

  • All (1)
  • Unknown (1)
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.

User activity


e.g. test cricket, Perth (WA), "Parkes, Henry"

Separate different tags with a comma. To include a comma in your tag, surround the tag with double quotes.

Be the first to add a tag for this edition

Be the first to add this to a list

Comments and reviews

What are comments? Add a comment

No user comments or reviews for this version

Add a comment