Public Pensions
نویسندگان
چکیده
All industrial democracies have public pension or social security schemes that account for a substantial portion of the disposal income of the aged. Although some countries introduced public pensions as early as the 19 century, large scale social security systems did not emerge as an important feature of the welfare state in most OECD countries until after World War II. The involvement of the government in the provision of pensions can be justified in many different ways, including reasons of efficiency (market failure), redistribution, insurance failure or paternalism.
منابع مشابه
Optimal Public Pensions: Full Coverage for End-of-Life Consumption
Public pensions and private saving are commonly considered complementary funding sources from which the elderly should draw simultaneously throughout their retirement. This paper shows that sequential use of funding sources would be significantly more effi cient —a period of entirely private funding followed by a period of consumption fully financed by public pensions. Thus the standard multi-p...
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