scholarly journals Aging and the Necessity of a Radical Reform of the Canadian Pension System

2009 ◽  
Vol 36 (1-2) ◽  
pp. 17 ◽  
Author(s):  
Jacques Henripin
Keyword(s):  
Pension System ◽  
Population Aging ◽  
Public Pension ◽  
Private Pension ◽  
Radical Reform ◽  
Public Pension System ◽  
Future Population

Compared to the 29 other members of OECD, Canadian workers must satisfy themselves with a rather timorous public pension system, particularly those who earn a middle or higher income. This weakness is somewhat corrected by private pension organizations, but only a third of employees are covered by them. The author proposes that all workers have access to such programs and even that they are mandatory. There would be many of them; they would function on the basis of capitalization; they would be public or private. The choice of the capitalization financial principle is almost essential, due to future population aging. The author displays his convictions about these proposals, as well as practical ways to implement such a program.

Die Finanzierungslücke der Gesetzlichen Rentenversicherung in Deutschland – Eine Simulationsstudie zu Lösungsmöglichkeiten

2014 ◽  
Vol 63 (2) ◽  
Author(s):  
Steffen Bollacke
Keyword(s):  
Pension System ◽  
Population Aging ◽  
Financial Burden ◽  
Public Pension ◽  
Demographic Factor ◽  
Public Pensions ◽  
Calculation Formula ◽  
Pension Systems ◽  
Public Pension System ◽  
Reform Processes

AbstractPopulation aging challenges pay-as-you-go pension systems. Solving the associated funding problem constantly motivates reform processes. In addition to an aging population, specific regulations of the German public pension system lead to an increasing financial burden of national finances. To ensure sustainable funding of pensions, the calculation formula of the German public pension system will be investigated in this paper. It will be shown, that there are two alterable parameters, which are not optimally used regarding the funding of public pensions. Simulations show that a variable demographic factor to calculate public pensions can reduce the financial burden of national finances.

scholarly journals Evaluation on the Sustainability of Urban Public Pension System in China

2019 ◽  
Vol 11 (5) ◽  
pp. 1418 ◽  
Author(s):  
Qing Zhao ◽  
Haijie Mi
Keyword(s):  
Pension System ◽  
Population Aging ◽  
Public Pension ◽  
Population Projections ◽  
Sensitivity Analyses ◽  
Economic Downturn ◽  
The Public ◽  
Public Pension System ◽  
Pension Payments

Against the background of population aging and economic downturn, the sustainability of pension systems has aroused great concern for governments across the world. To better reflect the pressure of pension payments in the changing context, the paper aims to forecast the annual pension gap of the public pension system for urban employees in China. By the use of Cohort-component population projections and stochastic projection models, the distribution of flow-based annual pension gap in the next fifty years are estimated under basic assumptions. The results show that the pension gap continues to exist from 2017 and keeps expanding until 2070 without any policy reform. Sensitivity analyses of demographics and various combinations of policy parameters on the distribution of future pension gaps are displayed. Wider pension coverage with lower policy threshold is more likely to face larger long-term pension gap.

scholarly journals Comparative Analysis of Retirement Benefits in Private Pension Funds and Public Pension System

2019 ◽  
Vol 57 (2) ◽  
pp. 145-164
Author(s):  
Stevan Luković ◽  
Srđan Marinković
Keyword(s):  
Comparative Analysis ◽  
Success Rate ◽  
Pension Fund ◽  
Pension System ◽  
Public Pension ◽  
Private Pension ◽  
Investment Strategies ◽  
Retirement Benefits ◽  
The Public ◽  
Public Pension System

AbstractThis paper identifies the conditions under which the private pension funds generate superior retirement outcomes compared to public pension system. The research objective is to determine the probability of success of the selected investment strategies in achieving the public pension system replacement rate, and the probability of the realization of extremely unfavourable outcomes. The methodology used in this paper includes the comparative analysis of simulated financial results of the four selected investment strategies implemented in the private pension fund model and the defined retirement benefits generated within the public pension system. For the simulation of the financial results at retirement, Monte Carlo simulation technique has been used. The authors have found that the success rate of the private pension fund in achieving superior financial results in comparison to public pension system is high, but only for the contribution rates higher than 10%. At low contributions rates, the extremely aggressive strategy is the only one that generates moderate success rate. Also, the probability of realization of extremely unfavourable financial results is lowest for the conservative strategy, which suggests that for the relatively high levels of the contribution rate, it is the most appropriate option for the pension fund members.

scholarly journals The Spanish public pension system as opposed to the alternative of private pension plans

2020 ◽  
Vol 6 (2) ◽  
pp. 13-26
Author(s):  
M. Cubas Pardo
Keyword(s):  
Pension System ◽  
Substantial Reduction ◽  
Pension Plans ◽  
Public Pension ◽  
Private Pension ◽  
Private Pensions ◽  
Public And Private ◽  
Public Pension System ◽  
Average Worker ◽  
The Impact

Many countries are currently facing the problem of sustainability of public pension systems due to demographic developments and changes in the labor market. In this context, private pension plans are often presented as an alternative. This paper aims to describe the functioning of the current public pension system in Spain and the impact that abandoning the current public system and adopting a pension system based on private contributions would have on workers and pensioners. To this end, a hypothetical case study is presented, for an average worker, comparing the contributions made in each of the systems (public and private) as well as the benefits received after retirement. The results show the different nature of public pensions, which act as an insurance and have a strong redistributive component, as opposed to private pensions, which have an investment nature. For the average worker, the adoption of a private system would entail losses in the purchasing power during his working life and a very substantial reduction in the amounts received during retirement, along with greater economic instability.

Pension Structure and Employee Turnover: Evidence from a Large Public Pension System

ILR Review ◽  
2016 ◽  
Vol 70 (4) ◽  
pp. 976-1007
Author(s):  
Dan Goldhaber ◽  
Cyrus Grout ◽  
Kristian L. Holden
Keyword(s):  
Employee Turnover ◽  
Pension System ◽  
Public Pension ◽  
Public Pension System

Equity of Public Pension System

2020 ◽  
pp. 155-171
Author(s):  
Robert Meneu-Gaya ◽  
Borja Encinas-Goenechea ◽  
Inmaculada Domínguez-Fabián
Keyword(s):  
Pension System ◽  
Public Pension ◽  
Public Pension System

Last Lessons Learned from the Swedish Public Pension System

2020 ◽  
pp. 235-254
Author(s):  
María del Carmen Boado-Penas ◽  
Poontavika Naka ◽  
Ole Settergren
Keyword(s):  
Pension System ◽  
Lessons Learned ◽  
Public Pension ◽  
Public Pension System

scholarly journals An actuarial mathematical model for a new pension philosophy. An application to the accountant pension fund

2020 ◽  
Vol 0 (0) ◽  
Author(s):  
Anna Attias ◽  
Simona Ciavalini ◽  
Carla Morrone ◽  
Daniela Saitta
Keyword(s):  
Mathematical Model ◽  
Social Welfare ◽  
Pension Fund ◽  
Pension System ◽  
Public Pension ◽  
Standard Of Living ◽  
Replacement Rate ◽  
Minimum Threshold ◽  
Public Pension System ◽  
Highly Correlated

AbstractThis paper adapts an actuarial mathematical model, built for the Italian public pension system, based on the law proposal 3035/2009 to the Accountant Pension Fund (CNPADC). The aim is to introduce a new philosophy pension highly correlated with the concept of adequacy for an ambitious social welfare; using the logic of the 3035/2009 proposal, which guarantees a minimum threshold for the replacement rate of the direct pension, this study provides a rigorous actuarial mathematical model that explains a sort of rate of contribution at a tendential equilibrium, in a pay-as-you-go pension system. This model reveals for which parameters it is possible to intervene to maintain the standard of living in retirement.

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