Individual choice of pension arrangement as a pension reform strategy

Richard Disney (), Robert Palacios () and Edward Whitehouse ()
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Richard Disney: Institute for Fiscal Studies and University of Sussex

No W99/18, IFS Working Papers from Institute for Fiscal Studies

Abstract: The paper examines social security (public pension) reforms in which the programme is partially shifted from a public unfunded basis to a private, prefunded, basis. It focuses on reforms where individuals have a choice in switching from public funded to private unfunded programmes (as in the ?ontracting out? scheme in the UK), or where some individuals are forced to join the funded scheme, or reforms which combine both these options. The welfare consequences of such reform strategies are analysed both from an individual and a macroeconomic perspective. The paper also examines whether individuals respond ?ationally' to the incentives inherent in such programmes.

JEL-codes: G23 H53 J11 (search for similar items in EconPapers)
Pages: 37
Date: 1999-07-16
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (16)

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