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On the Financial Sustainability of Earnings-Related Pension Schemes with “Pay-As-You-Go” Financing and the Role of Government Indexed Bonds

In this paper the authors reconsider the idea of an earnings-related pension system with reserves invested in indexed government bonds as a mechanism to both ensure financial sustainability and improve security. They start by reviewing the characterization of the sustainable rate of return of an ear...

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Bibliographic Details
Main Authors: Robalino, David A., Bodor, András
Language:English
Published: World Bank, Washington, DC 2012
Subjects:
ACCOUNTING FRAMEWORK
AGE DISTRIBUTION
ANNUITIES
ANNUITY
ANNUITY FACTOR
ASSETS
AVERAGE WAGE GROWTH
BANKRUPTCY
BASIC
BENEFIT FORMULA
BONDS
CASH BALANCE
COMPUTING
CONTRIBUTION BASE
CONTRIBUTION RATE
CONTRIBUTION RATES
DEBT
DEMOGRAPHIC TRENDS
DISCOUNT RATE
DROPOUT
ECONOMIC GROWTH
FERTILITY
FERTILITY RATES
GDP
GDP PER CAPITA
GOVERNMENT BONDS
GROWTH RATE
GROWTH RATES
HUMAN CAPITAL
INDEXATION
INDEXED BONDS
INDEXING
INDIVIDUAL ACCOUNTS
INFLATION
INTEREST RATE
INTEREST RATES
LABOR FORCE
LABOR SUPPLY
LEVEL OF CAPITAL
LIFE EXPECTANCY
LOW-INCOME COUNTRIES
MACROECONOMIC MODEL
MARGINAL PRODUCTIVITY
MORTALITY
NOTIONAL ACCOUNT
NOTIONAL ACCOUNT SCHEMES
NOTIONAL ACCOUNT SYSTEMS
NOTIONAL CAPITAL
OLE
OPPORTUNITY COST
PENSION FUND
PENSION LIABILITIES
PENSION PLAN
PENSION REFORM
PENSION RIGHTS
PENSION SCHEMES
PENSION SYSTEM
PENSION SYSTEM PARAMETERS
PENSION SYSTEMS
PENSIONS
POLICY IMPLICATIONS
POLICY MAKERS
POLICY RESEARCH
POLICY RESEARCH WORKING PAPER
POPULATION GROWTH
POPULATION GROWTH RATE
POPULATION GROWTH RATES
PRICE INDEXATION
PRODUCTION FUNCTION
PRODUCTIVITY
PRODUCTIVITY INCREASES
PRODUCTIVITY OF CAPITAL
PROGRAMMING
PROGRESS
PROPERTY RIGHTS
RATE OF RETURN
REAL GDP
RESPECT
RETIREES
RETIREMENT
RETIREMENT AGE
SEX
SIMULATION
SYSTEM DESIGN
WAGES
Online Access:http://documents.worldbank.org/curated/en/2006/07/6918300/financial-sustainability-earnings-related-pension-schemes-pay-as-you-go-financing-role-government-indexed-bonds
http://hdl.handle.net/10986/8387

Internet

http://documents.worldbank.org/curated/en/2006/07/6918300/financial-sustainability-earnings-related-pension-schemes-pay-as-you-go-financing-role-government-indexed-bonds
http://hdl.handle.net/10986/8387

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