The Future of the Pension System: Parametric Changes or Change of Paradigm?

Vladimir Nazarov

Working Papers from Gaidar Institute for Economic Policy

Abstract: The principal objective of this paper is to discuss shortcomings of the current paradigm of provision of the retirement income. The main conclusion is that in post-industrial society the traditional pension system, a mandatory and comprehensive earnings related scheme, should be replaced by a combination of voluntary private pension schemes funded by individual savings and investments in human capital and by state insurance against poverty.

Keywords: pension system; post-industrial society; parametric reforms; retirement age. (search for similar items in EconPapers)
JEL-codes: H55 I30 J18 (search for similar items in EconPapers)
Pages: 27 pages
Date: 2012, Revised 2012
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https://www.iep.ru/files/RePEc/gai/wpaper/0047Nazarov.pdf Revised version, 2012 (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:gai:wpaper:0047

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