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Sustainability and the Public Burden of the Elderly After Pension Reforms

Johansson, Mathias LU (2015) EKHM51 20151
Department of Economic History
Abstract
There are multiple dimensions pertaining to the sustainability of the public pension systems. The old PAYG DB schemes were typically more focused on income adequacy than financial sustainability. The current public pension systems of Austria, Germany, Finland and Sweden are the result of recent reforms undertaken in response to a universal phenomenon. The aging of the population promised to put a strain on the financial sustainability and each country has addressed this differently. However, the old-age pension schemes are not alone in supporting the elderly. Some of the additional programs become steppingstones to early exits from the workforce, when retirements in fact need to be delayed. The subsidized consumption of the elderly, as... (More)
There are multiple dimensions pertaining to the sustainability of the public pension systems. The old PAYG DB schemes were typically more focused on income adequacy than financial sustainability. The current public pension systems of Austria, Germany, Finland and Sweden are the result of recent reforms undertaken in response to a universal phenomenon. The aging of the population promised to put a strain on the financial sustainability and each country has addressed this differently. However, the old-age pension schemes are not alone in supporting the elderly. Some of the additional programs become steppingstones to early exits from the workforce, when retirements in fact need to be delayed. The subsidized consumption of the elderly, as well as estimated effective exit ages are calculable in a new way using the national transfer accounts. The burden the elderly lay upon the population is largely due to the underlying mechanism that has yet to be changed. With or without this mechanism, the systems sustainability remains under question. (Less)
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author
Johansson, Mathias LU
supervisor
organization
course
EKHM51 20151
year
type
H1 - Master's Degree (One Year)
subject
keywords
sustainability, public burden, national transfer accounts, Public pensions, reforms
language
English
id
7752401
date added to LUP
2016-09-14 08:41:48
date last changed
2016-09-14 08:41:48
@misc{7752401,
  abstract     = {There are multiple dimensions pertaining to the sustainability of the public pension systems. The old PAYG DB schemes were typically more focused on income adequacy than financial sustainability. The current public pension systems of Austria, Germany, Finland and Sweden are the result of recent reforms undertaken in response to a universal phenomenon. The aging of the population promised to put a strain on the financial sustainability and each country has addressed this differently. However, the old-age pension schemes are not alone in supporting the elderly. Some of the additional programs become steppingstones to early exits from the workforce, when retirements in fact need to be delayed. The subsidized consumption of the elderly, as well as estimated effective exit ages are calculable in a new way using the national transfer accounts. The burden the elderly lay upon the population is largely due to the underlying mechanism that has yet to be changed. With or without this mechanism, the systems sustainability remains under question.},
  author       = {Johansson, Mathias},
  keyword      = {sustainability,public burden,national transfer accounts,Public pensions,reforms},
  language     = {eng},
  note         = {Student Paper},
  title        = {Sustainability and the Public Burden of the Elderly After Pension Reforms},
  year         = {2015},
}