On the Financial Sustainability of Earnings-Related Pension Schemes with 'Pay-as-You-Go' Financing and the Role of Government-Indexed Bonds
In this paper we reconsider the idea of an earnings-related pension system with reserves invested in indexed government bonds as a mechanism to both ensure financial sustainability and improve security. The paper starts by reviewing the characterization of the sustainable rate of return of an earnin...
| Main Authors: | , |
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| Format: | Journal Article |
| Language: | EN |
| Published: |
2012
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| Subjects: | |
| Online Access: | http://hdl.handle.net/10986/4890 |