Unfunded systems

András Simonovits
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András Simonovits: Hungarian Academy of Scientists

Chapter Chapter 4 in Modeling Pension Systems, 2003, pp 32-48 from Palgrave Macmillan

Abstract: Abstract The pension systems that had appeared in Europe by 1900 had largely begun as publicly run funded systems (Bod, 1995). Since life insurance had been born much earlier, there would have been no particular difficulty with funded pension systems had two world wars and the Great Depression not destroyed them. The new pension systems had to start from scratch.

Keywords: Pension System; Average Earning; Real Earning; Average Replacement Rate; Life Annuity (search for similar items in EconPapers)
Date: 2003
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-59769-3_5

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DOI: 10.1057/9780230597693_5

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