Systems of financial support for old people are experiencing serious financial difficulties worldwide and the old-age, disability, and survivors’ pension system of Cuba (the pension system from now on) is no exception to this trend. The pension system of Cuba has been extensively discussed in the literature by Mesa-Lago (see below) and it has also been analyzed in the 1994 and 1995 ASCE confere...

It is well-known that pension fund participants can benefit from intergenerational risksharing, but that different generations have different incentives. This paper models intergenerational solidarity in closing funded pension plans as a bargaining process between generations. We consider generations which each are represented by members of the pension fund’s board. We model pension funds that ...

Using a representative sample of Italian investors, we estimate the risk associated with pension benefits by eliciting for each individual the subjective distribution of the replacement rate as a summary indicator of social security wealth. We find substantial heterogeneity of pension risk and show that it is consistently related to observable features in the pension system that have different ...

This paper examines the choice of pension scheme and job mobility in Britain. Workers in Britain can choose to belong wholly to the social security (public pension) programme, or to a company-provided plan (occupational pension), or to purchase their own individual pension. We use household panel data for the 1990s to show that individuals that subsequently move job select pension arrangements ...

AIMS This study investigated: (i) the workforce participation in Sweden among older employees before and after changes in eligibility for sickness absence and unemployment compensation by a social insurance reform; and (ii) absence and early exit mechanisms from the workforce for different professions by looking at sickness benefits, disability pension and unemployment, early statutory pension,...

background : this study was to investigate the health literacy and influencing factors of older population in pension institution of xinjiang, china. methods : elderly people were selected from 44 pension institutions in urumqi, changji, karamay and shihezi and from september 2011 to june 2012 using random layer sampling method. the investigation was carried out by chi-nese citizen health liter...

Housing and pension wealth are shown to be important determinants of personal sector consumption and retirement behaviour in the UK. Housing and state pension wealth have a positive effect on consumption, while private pension wealth promotes greater savings. Greater private defined benefit pension wealth encourages earlier retirement, while greater defined contribution pension wealth has the e...

We estimate the effect of pension reforms on households’ expectations of retirement outcomes and wealth accumulation decisions exploiting a decade of pension reforms as a source of exogenous variation in expected pension wealth. Two parameters are crucial to estimate pension wealth: the age at which workers expect to retire and the expected ratio of pension benefits to pre-retirement income. Th...