Ageing-Driven Pension Reforms

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Abstract

This paper stems from the observation that there are two world-wide trends, pension reform and population ageing, and asks whether the two may be related. Exploring the cases of pension reform in different countries, we find that, although they are very different, the cases share a common characteristic: they shift risks away from workers towards those who are retired. Furthermore, population ageing, by increasing the weight of the elderly relative to working generations, raises the price of intergenerational risk sharing. Combining these findings, we argue and show formally that pension reform can be seen as a welfare-best response to population ageing.
Original languageEnglish
Place of PublicationTilburg
PublisherNETSPAR
Number of pages29
Publication statusPublished - Jun 2016

Publication series

NameNetspar Academic Paper
VolumeDP 06/2016-024

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