Towards an equitable and sustainable points system. A proposal for pension reform in Belgium

Erik Schokkaert, Pierre Devolder, Jean Hindriks and Frank Vandenbroucke

Journal of Pension Economics and Finance, 2020, vol. 19, issue 1, 49-79

Abstract: We describe the points system as proposed by the Belgian Commission for Pension Reform 2020–2040. Intragenerational equity can be realised through the allocation of points within a cohort. The intergenerational distribution is determined by fixing the value of a point for the newly retired and a sustainability parameter for the actual retirees. The value of the point links pensions to the average living standard of the employed population. We propose an automatic adjustment mechanism, in which a key role is played by the career length. This mechanism induces a balanced distribution of the burden of demographic and economic shocks over the different cohorts.

Date: 2020
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Related works:
Working Paper: Towards an equitable and sustainable points system. A proposal for pension reform in Belgium (2020)
Working Paper: Towards an equitable and sustainable points system. A proposal for pension reform in Belgium (2020)
Working Paper: Towards an equitable and sustainable points sytem. A proposal for pension reform in Belgium (2018)
Working Paper: Towards an equitable and sustainable points system. A proposal for pension reform in Belgium (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:cup:jpenef:v:19:y:2020:i:1:p:49-79_3

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