Finanzierung der Alterssicherung

Selected for the Global Economic Symposium 2010

Populations are ageing in most developed countries, but increasingly also in emerging economies. Rising expenditures for pensions as well as health care and long-term care will claim an increasing share of governments’ or families’ incomes. Ensuring both adequate old-age incomes and the long-term financial sustainability of pension and health-care systems remains a huge challenge.

In a number of emerging economies, most notably in China, pension systems are still underdeveloped and cover only a small part of the population. In the developed world, many pension systems at current rules are not financially sustainable. In response to large implicit pension liabilities, various approaches to pension reform have been put forward, such as increasing the role of private and prefunded pension schemes, reducing public pension benefits, increasing pension age and reducing incentives to retire early. The recent financial and economic crisis has highlighted further risks inherent in both public and private pension systems. While rising unemployment and sharply increasing government debt is putting additional stress on public finances and pay-as-you-go pension schemes, the substantial fall in asset prices has underlined the risks associated with pension funds invested in the financial markets. In the current environment there is the danger that immediate pressures on policy to act result in poorly designed short-term responses with negative long-term consequences for the capacity of pension systems to provide adequate levels of retirement income on a sustainable basis.

  • What are the lessons of the financial crisis for the appropriate balance of private and public schemes in the pension system?
  • How can the resilience of pension systems to macroeconomic shocks be increased?
  • What are the implications for the design, regulation and supervision of private pensions systems?
  • Are there implications for the financing of health care and long-term care?
  • What can government and the financial industry do to help people make informed choices when planning for their old age?
  • What can migration policies and policies raising fertility contribute to easing the demographic challenge?
  • How could people be encouraged to prolong their working lives?
  • What can government and business do to help elderly workers to acquire the skills and to preserve the physical and mental health needed to remain productive and competitive in today’s work environments?
  • Should there be specific pension arrangements for workers in particularly hazardous or arduous jobs?
  • Is there a lesson from developed countries’ experience for emerging economies which are still only developing old-age pension systems?
  • How can politicians find support for successfully implementing the necessary reforms?

Literaturliste

Pension reform : a short guide / Nicholas Barr and Peter Diamond.

  • Pension reform : a short guide / Nicholas Barr and Peter Diamond.
    (2010) Oxford [u.a.]; XXI, 238 S.

    prüfen & bestellen Inhaltsverzeichnis WorldCat - Weltkatalog Google-Books BibliotheksVerbund Bayern

How to avoid a pension crisis : a question of intelligent system design / Alessandro Cigno.
Conventional pension systems suffer from a design defect, which makes them financially unsustainable, and a source of inefficiency for the economy as a whole. The article outlines a second-best policy which includes a public pension system made up of two parallel schemes, a Bismarckian one allowing individuals to qualify for a pension by working and paying contributions in the usual way, and an unconventional one allowing them to qualify for a pension by having children, and investing time and money in their upbringing.

  • How to avoid a pension crisis : a question of intelligent system design / Alessandro Cigno.
    (2009) In: CESifo economic studies. – Bd. 56.2010, 1, (Mar.2010) S. 21-37.

    prüfen & bestellen Zeitschrift verfügbar? Google-Scolar Scirus - Elsevier Biznar
  • How to avoid a pension crisis : a question of intelligent system design / Alessandro Cigno.
    (2009) IZA policy paper ; 04; Online-Ressource (17 S.).

    Volltext prüfen & bestellen Google-Scolar BibliotheksVerbund Bayern Scirus - Elsevier Biznar
  • How to avoid a pension crisis : a question of intelligent system design / Alessandro Cigno.
    (2009) CESifo working paper series ; 2590 : Social protection; 15 S.

    prüfen & bestellen Google-Scolar Google BibliotheksVerbund Bayern Scirus - Elsevier Biznar
  • How to avoid a pension crisis : a question of intelligent system design / Alessandro Cigno.
    (2009) CESifo working paper ; 2590 : Social Protection; Online-Ressource (15 S.).

    PDF-Volltext Volltext prüfen & bestellen Google-Scolar BibliotheksVerbund Bayern Scirus - Elsevier Biznar

Filling the pension gap : coverage and value of voluntary retirement savings / Pablo Antolín; Edward R. Whitehouse.

  • Filling the pension gap : coverage and value of voluntary retirement savings / Pablo Antolín; Edward R. Whitehouse.
    (2009) OECD social, employment and migration working papers ; 69; Online-Ressource (32 S.).

    PDF-Volltext Volltext prüfen & bestellen Google-Scolar BibliotheksVerbund Bayern Scirus - Elsevier Biznar

Reforming pensions : principles, analytical errors and policy directions / Nicholas Barr and Peter Diamond.

  • Reforming pensions : principles, analytical errors and policy directions / Nicholas Barr and Peter Diamond.
    (2009) In: International social security review. – Bd. 62.2009, 2, (4/6.2009) S. 5-29.

    prüfen & bestellen Zeitschrift verfügbar? Google-Scolar Scirus - Elsevier Biznar
  • Reforming pensions : principles and principles and policy choices / Nicholas Barr and Peter Diamond.
    (2008) Oxford [u.a.]; XIII, 352 S.

    prüfen & bestellen Inhaltsverzeichnis WorldCat - Weltkatalog Google-Books BibliotheksVerbund Bayern

Aging population, pension funds, and financial markets : regional perspectives and global challenges for Central, Eastern, and Southern Europe / The World Bank … Robert Holzmann, ed..

  • Aging population, pension funds, and financial markets : regional perspectives and global challenges for Central, Eastern, and Southern Europe / The World Bank … Robert Holzmann, ed..
    (2009) Directions in development : Finance; XVI, 162 S.

    prüfen & bestellen Inhaltsverzeichnis WorldCat - Weltkatalog Google-Books BibliotheksVerbund Bayern

Pension policy : the search for better solutions / John A. Turner.

  • Pension policy : the search for better solutions / John A. Turner.
    (2010) Kalamazoo, Mich.; IX, 243 S.

    prüfen & bestellen Inhaltsverzeichnis WorldCat - Weltkatalog Google-Books BibliotheksVerbund Bayern

Lessons of the financial crisis for the design of national pension systems : presented at CESifo Venice Summer Institute, Juli 2009 / Gary Burtless.
The recent financial crisis and historical record suggest important lessons about the design of national pension systems. First, wide fluctuation in asset returns makes it hard for well-informed savers to select a saving rate or a sensible investment strategy for DC pensions. Workers who follow identical investment strategies but who retire a few years apart can receive DC pensions that are startlingly unequal. Second, it is hard for ordinary workers, as opposed to optimal planners, to make sensible choices about portfolio allocation. Their investment errors mean that actual returns fall short of the theoretical returns that could be earned by a well-informed, disciplined investor.

  • Lessons of the financial crisis for the design of national pension systems : presented at CESifo Venice Summer Institute, Juli 2009 / Gary Burtless.
    (2009) CESifo working paper series ; 2735 : Social protection; 28 S.

    prüfen & bestellen Google-Scolar Google BibliotheksVerbund Bayern Scirus - Elsevier Biznar
  • Lessons of the financial crisis for the design of national pension systems / Gary Burtless.
    (2009) CESifo working paper ; 2735 : Social Protection; Online-Ressource ( 28 S.).

    Volltext prüfen & bestellen Google-Scolar BibliotheksVerbund Bayern Scirus - Elsevier Biznar

Pensions, social security, and the privatization of risk / [Social Science Research Council]. Ed. by Mitchell A. Orenstein.

  • Pensions, social security, and the privatization of risk / [Social Science Research Council]. Ed. by Mitchell A. Orenstein.
    (c 2009) The Columbia University Press and Social Science Research Council series on the privatization of risk; 127 S.

    prüfen & bestellen Inhaltsverzeichnis WorldCat - Weltkatalog Google-Books BibliotheksVerbund Bayern

Old Europe ages : reforms and reform backlashes / Axel H. Boersch-Supan; Alexander Ludwig.

  • Old Europe ages : reforms and reform backlashes / Axel H. Boersch-Supan; Alexander Ludwig.
    (2010) Cambridge, Mass.; 46 S.

    PDF-Volltext prüfen & bestellen Google-Scolar BibliotheksVerbund Bayern Scirus - Elsevier Biznar

The development and prospects of China’s old-age security system / Hua Yingfang.

  • The development and prospects of China’s old-age security system / Hua Yingfang.
    (2009) In: Social sciences in China. – Abingdon. – Bd. 30.2009, 1, (Feb.2009) S. 185-196.

    prüfen & bestellen Zeitschrift verfügbar? Google-Scolar Scirus - Elsevier Biznar

Ageing in East Asia : challenges and policies for the twenty-first century / ed. by Tsung-hsi Fu ….

  • Ageing in East Asia : challenges and policies for the twenty-first century / ed. by Tsung-hsi Fu ….
    (2009) Comparative development and policy in Asia series ; 4; XVI, 184 S.

    prüfen & bestellen Inhaltsverzeichnis WorldCat - Weltkatalog Google-Books BibliotheksVerbund Bayern

Reforming pensions in Europe : economic fundamentals and political factors / Ondrej Schneider.
This paper analyzes pension reforms in Europe and their determinants. As pension reforms are intrinsically difficult to define and pinpoint, we introduce an alternative measure of pension reforms by comparing long-term forecasts of pension expenditures for seventeen European countries. The larger the decrease in expected spending on public pensions in 2050 between two base years, the more successful a pension reform the country achieved (after controlling for other factors, such as demography). Our analysis shows that the reform effort varies widely across countries and over time. Indeed, only three countries in the EU managed to reduce their expected spending on pensions in both reference periods. In the second part of the paper, we analyze factors that may facilitate or hamper pension reform quality of fiscal institutions, public debt, trade unions’ influence, and also demographic factors. Only the measure of trade union power proves to be significant in explaining pension reforms. Other factors, such as quality of fiscal institutions, size of the existing funded pillar, public debt or recent demographic developments, do not seem to play a significant role. However, specific pension system factors most significantly the lagged change in pension expenditures are significant and suggest that European governments do reform their pension systems when faced with the threat of escalating pension expenditures. In conclusion, we propose a hypothesis of boundedœ economic rationale of European governments, as they seem to react to expectations of an increase in pension spending, but they seem to be content with the current spending levels. The appendix gives detailed information on pension reforms in the ten Central and Eastern European countries that became EU members in 2004 and 2007 (EU-10).

  • Reforming pensions in Europe : economic fundamentals and political factors / Ondrej Schneider.
    (2009) CESifo working paper series ; 2572 : Public finance; 29 S.

    prüfen & bestellen Google-Scolar Google BibliotheksVerbund Bayern Scirus - Elsevier Biznar
  • Reforming pensions in Europe: economic fundamentals and political factors / Ondrej Schneider.
    (2009) Prague; Online-Ressource (33 S.).

    Volltext prüfen & bestellen Google-Scolar BibliotheksVerbund Bayern Scirus - Elsevier Biznar
  • Reforming pensions in Europe : economic fundamentals and political factors / Ondrej Schneider.
    (2009) CESifo working paper ; 2572 : Public finance; Online-Ressource (PDF-Datei: 29 S., 236 KB).

    PDF-Volltext Volltext prüfen & bestellen Google-Scolar BibliotheksVerbund Bayern Scirus - Elsevier Biznar

What the stock market decline means for the financial security and retirement choices of the near-retirement population / Alan L. Gustman; Thomas L. Steinmeier; Nahid Tabatabai.

  • What the stock market decline means for the financial security and retirement choices of the near-retirement population / Alan L. Gustman; Thomas L. Steinmeier; Nahid Tabatabai.
    (2009) Cambridge, Mass.; 34 S.

    PDF-Volltext prüfen & bestellen Google-Scolar BibliotheksVerbund Bayern Scirus - Elsevier Biznar

Pensions in Africa / Fiona Stewart; Juan Yermo.

  • Pensions in Africa / Fiona Stewart; Juan Yermo.
    (2009) OECD working papers on insurance and private pensions ; 30; Online-Ressource (32 S.).

    PDF-Volltext Volltext prüfen & bestellen Google-Scolar BibliotheksVerbund Bayern Scirus - Elsevier Biznar

The role of institutions and health in European patterns of work and retirement / Axel Börsch-Supan, Agar Brugiavini and Enrica Croda.

  • The role of institutions and health in European patterns of work and retirement / Axel Börsch-Supan, Agar Brugiavini and Enrica Croda.
    (2009) In: Journal of European social policy. – London. – Bd. 19.2009, 4, S. 341-358.

    prüfen & bestellen Zeitschrift verfügbar? Google-Scolar Scirus - Elsevier Biznar

Changing governance and public policy in East Asia / ed. by Ka Ho Mok and Ray Forrest.

  • (2009) Comparative development and policy in Asia series; XX, 356 S.
    prüfen & bestellen Inhaltsverzeichnis WorldCat - Weltkatalog Google-Books BibliotheksVerbund Bayern
  • From developmental regimes to post-developmental regimes : business and pension reforms in Japan, South Korea and Taiwan / Young Jun Choi.
    (2009) In: Changing governance and public policy in East Asia. – 2009, S. 206-227.

    prüfen & bestellen Google-Scolar Scirus - Elsevier Biznar

Moving from pay-as-you-go to privately managed individual pension accounts : what have we learned after 25 years of the Chilean pension reform? / Joaquín Vial; Angel Melguizo.

  • Moving from pay-as-you-go to privately managed individual pension accounts : what have we learned after 25 years of the Chilean pension reform? / Joaquín Vial; Angel Melguizo.
    (2009) In: Pensions. – Basingstoke. – Bd. 14.2009, 1, (Feb.2009) S. 14-27.

    prüfen & bestellen Zeitschrift verfügbar? Google-Scolar Scirus - Elsevier Biznar

Wesentliches Schlagwort: Gesetzliche Rentenversicherung

    Wikipedia EyePlorer Bundeszentrale für politische Bildung GVK - Gemeinsamer Verbundkatalog Google-News Google-Blogs Bing-Video (englisch) Standard-Thesaurus Wirtschaft Wirtschaftslexikon24 Gabler-Wirtschaftslexikon

Wesentliches Schlagwort: Rentenreform

    Wikipedia EyePlorer Bundeszentrale für politische Bildung GVK - Gemeinsamer Verbundkatalog Google-News Google-Blogs Bing-Video (englisch) Standard-Thesaurus Wirtschaft Wirtschaftslexikon24 Gabler-Wirtschaftslexikon
Bookmark/share via AddInto

Leave a Reply

  

  

  

 

Wiwi-Werkbank

Wir präsentieren hier Literaturlisten und andere Werkzusammenstellungen zu aktuellen Wirtschaftsthemen