scholarly journals Kapitaldeckungs- versus Umlageverfahren

2000 ◽  
Vol 1 (4) ◽  
pp. 383-405 ◽  
Author(s):  
Friedrich Breyer
Keyword(s):  
Social Security ◽  
Old Age ◽  
Social Security Systems ◽  
Financing System ◽  
Security Systems ◽  
Rates Of Return ◽  
Radical Reform ◽  
Funded Pensions ◽  
Unfunded Social Security ◽  
Academic Debate

Abstract In the academic debate on systems of old-age insurance no question is as controversial and as vigorously discussed as the choice between funded and unfunded financing modes. At first glance this is surprising because this choice seems to involve only an efficiency problem. However, closer inspection reveals that a change of the financing system implies redistribution, if not within, at least among, different generations. In this contribution, the present state of knowledge on the functioning and the effects of the two financing systems is summarized. The analysis focuses on a comparison of rates of return and risks involved in each system and on the problems connected with a transition from unfunded to funded pensions. As a result it is argued that without reference to specific criteria of distributive equity among generations the nowadays popular call for radical reform of unfunded social security systems is not well founded.

How well does a partnership in pensions really work? The Israeli public/private pension mix

2002 ◽  
Vol 22 (2) ◽  
pp. 161-183 ◽  
Author(s):  
JOHN GAL
Keyword(s):  
Social Security ◽  
Old Age ◽  
Pension System ◽  
Pension Reform ◽  
Welfare States ◽  
Decision Makers ◽  
Test Case ◽  
Older Individuals ◽  
Social Security Systems ◽  
Security Systems

This paper takes the old-age pension system in Israel as a test case to examine the implications of proposals for pension reform now being debated or implemented in many welfare states. For over a decade, high on the agenda of decision-makers on both national and international levels, there has been the notion of moving towards a changing ‘partnership in pensions’ or, to put it more bluntly, towards greater privatisation of social security. Virtually since its emergence in the 1950s, the Israeli old-age pension has been based primarily upon a mix of low universal state pensions and income-related private occupational pensions. This paper compares the British and Israeli social security systems for older people in the wake of the reforms recently introduced in Britain and analyses the implications of the Israeli structure on the distribution of social security spending and on the wellbeing of different categories of older individuals.

scholarly journals Noriyuki Takayama (ed). Pensions in Asia: Incentives, Compliance and Their Role in Retirement. Tokyo: Maruzen Co. Ltd. 2005. 256 Pages. Hardbound. Price not given.

2004 ◽  
Vol 43 (1) ◽  
pp. 99-101
Author(s):  
Naushin Mahmood
Keyword(s):  
Social Security ◽  
Old Age ◽  
Social Attitudes ◽  
Ageing Population ◽  
Asian Countries ◽  
Social Security Systems ◽  
Security Systems ◽  
Fast Decline ◽  
Challenging Situation ◽  
Policy And Planning

In view of the rapid ageing of population in many Asian countries due to a longer life expectancy and a fast decline in fertility, the concerns about the sustainability of public pensions and social security systems have gained increased relevance both at policy and planning levels. Countries that have already experienced demographic transition and indicate rising trends in old-age dependency rates are facing a challenging situation not only to improve their pension systems but also to comply with the financing of retirement and old-age benefit schemes. The effects of an ageing population in these countries are becoming apparent in terms of increasing costs of the health-care system, social security schemes, and changing social attitudes towards older people that demand an assessment of the support base to meet their socio-economic needs.

scholarly journals Incentives to retire later – a solution to the social security crisis?

2002 ◽  
Vol 1 (2) ◽  
pp. 111-130 ◽  
Author(s):  
FRIEDRICH BREYER ◽  
MATHIAS KIFMANN
Keyword(s):  
Social Security ◽  
Pension System ◽  
Retirement Age ◽  
Negative Effects ◽  
Social Security Systems ◽  
Security Systems ◽  
Long Run ◽  
The Social ◽  
Unfunded Social Security ◽  
Increasing Function

As one possible solution to the well-known financing crisis of unfunded social security systems, an increase in the retirement age is a popular option. To induce workers to retire later, it has been proposed to strengthen the link between retirement age and benefit level. The present paper is devoted to analyzing the long-run financial implications of such a reform. We show that with actuarial adjustments the long-run contribution rate is an increasing function of the retirement age chosen by workers. Moreover, the implicit tax paid to the pension system by a participant can increase in the long run if the retirement age rises in response to a ‘steep’ adjustment rule. In this sense, the proposed ‘cure’ may worsen the disease. Finally, we show how the negative effects can be avoided by forming a capital stock from the additional revenues due to later retirement.

scholarly journals Understanding Social Security Development: Lessons From the Chinese Case

SAGE Open ◽  
2021 ◽  
Vol 11 (3) ◽  
pp. 215824402110326
Author(s):  
Guan Huang ◽  
Zhuang Cai
Keyword(s):  
Social Security ◽  
Political Legitimacy ◽  
Political Context ◽  
Common Mechanism ◽  
Social Security Systems ◽  
Security Systems ◽  
Security Research ◽  
Chinese Case ◽  
Thematic Approach ◽  
Convergence And Divergence

Understanding the development of social security systems constitutes the ultimate goal of social security research. This review traces and compares two schools of thought regarding social security development: the convergence and divergence schools. Using a thematic approach, this article first categorizes extant studies into one of these two schools and then identifies the broadly accepted mechanism of social security development by comparing them. After reviewing the extant research and its theoretical underpinnings, this article applies Mill’s methods of agreement and difference to show how the Chinese case contributes to and challenges our understanding of social security development. By discussing the assumptions of current research on social security development in light of the Chinese case, this article illuminates how political legitimacy serves as a common mechanism of social security development regardless of political context or structure.

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