Front Matter
Author:
Mr. Alain Jousten
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Front Matter Page

Fiscal Affairs Department

Authorized for distribution by Michael Keen

Contents

  • I. Introduction

  • II. The Social Security Reform Proposal

    • A. Summary

    • B. PRA

  • III. Pensions: the Basics

    • A. Longevity Risk and the Role of Annuities

    • B. The Notion of Actuarial Neutrality

    • C. Defined Benefit and Defined Contribution Plans

    • D. PAYG and the Accounting of Public Pensions

    • E. Why Public Intervention?

  • IV. Pension Reform and PRA

    • A. Demographics and PAYG

    • B. Individual Savings and Returns

    • C. Increased Aggregate Savings

    • D. Accounting for Private Sector Pensions

    • E. Accounting for Public Sector Pensions

  • V. Further Design Issues

    • A. The Problem of Early Retirement

    • B. Economics of Guarantees

    • C. Who Guarantees Private Sector Pensions?

    • D. What About Inflation Risk?

  • VI. Concluding Comments

  • Tables

  • 1. Total Fertility, Under Different Scenarios

  • 2. Life Expectancy at Birth, 2000–05 and 2045–50

  • References

  • Collapse
  • Expand
Public Pension Reform: A Primer
Author:
Mr. Alain Jousten