Research Catalog
Fiscal Alternatives of Moving from Unfunded to Funded Pensions
- Title
- Fiscal Alternatives of Moving from Unfunded to Funded Pensions [electronic resource] / Robert Holzmann
- Author
- Holzmann, Robert.
- Publication
- Paris : OECD Publishing, 1997.
Available Online
Details
- Description
- 64 p.; 21 x 29.7cm.
- Summary
- The reform of public pension systems has become a key policy issue in many countries. Because conventional approaches to reform largely unfunded retirement income schemes prove politically and economically difficult, attention has focused on the option of a partial shift towards funded provisions. Yet this too presents problems. This paper outlines the potential benefits of such a shift and highlights the main fiscal options and constraints. The liabilities to the current generation of retirees and workers under an unfunded pension scheme constitute a huge, hidden public debt. Most countries find that making this implicit debt fully explicit, repaying it and thus reversing the initial redistribution towards the start-up generation, lie beyond their political, economic and fiscal capacities. Thus, a shift requires simultaneous steps of the following sort: (i) a benefit reform of the unfunded scheme, reducing the implicit debt; (ii) a redesign of the basic tier remaining unfunded, to ...
- Series Statement
- OECD Development Centre Working Papers, 1815-1949 ; no.126
- Uniform Title
- OECD Development Centre Working Papers, no.126.
- Subject
- Development
- LCCN
- 10.1787/834846721016
- OCLC
- oecd-lib-003671
- Author
- Holzmann, Robert.
- Title
- Fiscal Alternatives of Moving from Unfunded to Funded Pensions [electronic resource] / Robert Holzmann
- Imprint
- Paris : OECD Publishing, 1997.
- Series
- OECD Development Centre Working Papers, 1815-1949 ; no.126OECD Development Centre Working Papers, 1815-1949 ; no.126.
- Connect to:
- Indexed Term
- Development
- Other Standard Identifier
- 10.1787/834846721016 doi