Funded pension schemes: Economic effects and policy implications

Aaron Grech

MPRA Paper from University Library of Munich, Germany

Abstract: This paper reviews alternative pension systems and examines the arguments in favour of funded pension schemes. The benefits of the latter derive mainly from long-term economic efficiency gains rather than from the immediate relief of pressures on the fiscal balance. Indeed, the transition towards a funded scheme could imply an increase in government expenditure in the short run. Fiscal consolidation and the attainment of equilibrium in the external balance are essential prerequisites for a move towards a funded pension system to be conducted successfully.

Keywords: pension reform; funded pension systems; economics of ageing (search for similar items in EconPapers)
JEL-codes: H55 J14 (search for similar items in EconPapers)
Date: 1999-09
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:33615

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