Enhancing Pension Adequacy While Reducing the Fiscal Budget and Creating Essential Capital for Domestic Investments and Growth: Analysing the Risks and Outcomes in the Case of Greece

Georgios Symeonidis, Platon Tinios and Panos Xenos
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Georgios Symeonidis: Department of Statistics and Insurance Science, School of Finance and Statistics, University of Piraeus, Karaoli ke Dimitriou 80, 18534 Piraeus, Greece
Panos Xenos: Department of Statistics and Insurance Science, School of Finance and Statistics, University of Piraeus, Karaoli ke Dimitriou 80, 18534 Piraeus, Greece

Risks, 2020, vol. 9, issue 1, 1-17

Abstract: Many countries around the world are resorting to mandatory funded components in their multi-pillar pension systems with the purpose of catering for the financial pressure from ageing. This paper aims at analysing the possible replacement rates for such a scheme, by choosing different assumptions and setting the best combined area for the expected result. Then, an approach for analysing the potential for the implementation of such a scheme in Greece is presented along with the actuarially projected expected benefit expenditure and respective accrued capital. A result of the introduction of such a component is expected to be the elevated replacement rate at retirement with a concurrent alleviation of the fiscal burden for the state. The projected scale of savings will also provide domestic financing for investments generating growth.

Keywords: funded pensions; adequacy; capital investment; growth (search for similar items in EconPapers)
JEL-codes: C G0 G1 G2 G3 K2 M2 M4 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:gam:jrisks:v:9:y:2020:i:1:p:8-:d:470106

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