Criteria for the Optimal Design of a Social Security Retirement System

Robert L. Brown

Social and Economic Dimensions of an Aging Population Research Papers from McMaster University

Abstract: This paper discusses a series of selection points in the design and financing of social security retirement systems. For each criterion, the paper lists and discusses advantages and disadvantages of the options available. The selection points include (1) Funded versus PAYGO; (2) Minimum benefits, Demogrant or Welfare; (3) Progressive versus Regressive; (4) Voluntary versus Mandatory; (5) Individual Accounts versus Commingling of Risk (6) Public versus Private sourcing; (7) Automatic Balancing Mechanisms; (8) System Risk Diversification. It is the sincere hope of the author that this discussion will create even more debate of the issues surrounding these important selection criteria which, in turn, will result in better social security retirement systems for all.

Keywords: Social Security design and financing; Funded pay-as-you-go; Individual Accounts; Automatic Balancing Mechanisms (search for similar items in EconPapers)
JEL-codes: H55 (search for similar items in EconPapers)
Pages: 22 pages
Date: 2010-05
New Economics Papers: this item is included in nep-age
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Persistent link: https://EconPapers.repec.org/RePEc:mcm:sedapp:266

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