Munich Personal RePEc Archive

Giving the ageing of the population how can countries afford pay-as-you-go social insurance pensions?

Gugushvili, Alexi (2007): Giving the ageing of the population how can countries afford pay-as-you-go social insurance pensions?

[img]
Preview
PDF
MPRA_paper_2869.pdf

Download (191Kb) | Preview

Abstract

The paper examines formation and sustainability of Pay-As-You-Go pension systems within the consequences of the ageing of population. Parametric reforms rather than institutional transformation of Pay-As-You-Go systems into funded pension schemes are advocated. Following the modern theories of family economics and contrary to the mainstream works on the issue, reciprocal causation between pension systems and ageing is stressed. The paper concludes that the World Bank’s first pillar adjustment for maintaining the Pay-As-You-Go schemes achieves its objectives only if it is focused on all elements of the Pay-As-You-Go system.

UB_LMU-Logo
MPRA is a RePEc service hosted by
the Munich University Library in Germany.