Social Insurance: How to Pay for Pensions and Health Care?

Martin Werding

A chapter in Demographic Change in Germany, 2008, pp 89-128 from Springer

Abstract: Abstract It is easy to see that broad-based social protection schemes which are financed on a pure pay-as-you-go basis and, at a given point in time, mainly redistribute resources from the young and middle-aged to the old will be put under substantial financial pressure as the process of demographic aging unfolds. Compared to the consequences of aging in other areas, such as labor markets, capital markets, economic development in general and other areas of public finance, its impact on pay-as-you-go social protection schemes is probably best understood. In any case, it has been subject to extensive research and, in many of the countries affected, has already led to policy changes. These may have been more or less fundamental in their nature. Also, they were sometimes enacted at an early stage, sometimes more recently, as it may have taken time to convince politicians and the greater public of the necessity to make some adjustments.

Keywords: Contribution Rate; Unemployment Insurance; Pension Scheme; Fiscal Sustainability; Social Insurance System (search for similar items in EconPapers)
Date: 2008
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DOI: 10.1007/978-3-540-68137-3_5

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