Rethinking Pension Reform

ISBN-13: 9780521676533 / Angielski / Miękka / 2005 / 266 str.

Franco Modigliani; Arun Muralidhar

Opis

To clarify the global debate on social security, the authors establish the basic choices in designating any system to help policy makers develop the system that achieves their many objectives. Because the success of reforms depends on financial innovation to mitigate key risks, innovations are discussed which demonstrate how pension reform choices affect the achievement of retirement objectives. Finally, the authors examine proposed hybrid options to show how their beneficial features can be captured through planning within a single fund. Hb ISBN (2004) 0-521-83411-2

Recenzje

'… makes a significant contribution to the growing literature on public pension reform … valuable theoretical lessons for pension reformers of all stripes … The authors' approach is imaginative and their economic analysis, as expected, is first-rate … Rethinking Pension Reform represents a significant contribution to the continuing debate over public pension reform, and it constitutes a fitting legacy for its distinguished co-author.' Journal of Pension, Economics, and Finance

Spis treści

1. A primer on pension reform issues; 2. A taxonomy of pension reform issues; 3. Evaluation of pension reforms; 4. Welfare costs defined contribution schemes; 5. The transition from PAYGO to funding with a common portfolio: application to the United States; 6. Social security reform in Spain; 7. The 'two pension fund' theorem; 8. The case for mixed systems and variable contributions: improving the performance of pension systems.