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Lindbeck, Assar, and
Mats Persson. 2003. "The Gains from Pension Reform ."
,
41(1): 74-112.
Show Article Details
DOI: 10.1257/002205103321544701
Abstract:We classify social security pension systems in three dimensions: actuarial versus non-actuarial, funded versus unfunded, and defined-benefit versus defined-contribution systems. Recent pension reforms are discussed in terms of these dimensions. Shifting to a more actuarial system reduces labor-market distortions, although limiting the scope for redistribution. Shifting to a funded system may increase saving, redistribute income to future generations and distort contemporary labor supply. A partial shift to a funded system helps individuals diversify their pension assets. A shift from a defined-benefit to a defined-contribution system means that income risk will be shifted from workers to pensioners.
Authors:
Lindbeck, Assar
Persson, Mats
JEL Classifications:
:
None
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