Accrued Pension Rights in Belgium: Micro-Simulation of Reforms
AbstractWe simulate different reform scenarios of the Belgian pension system using a micro-simulation approach. Using a rich administrative dataset with extensive information on individual earnings histories, we evaluate the impact of the scenarios for the individuals as well as the system as a whole. Our main metric for these analysis is the notion of accrued to date pension rights, i.e. the pensions rights that would be due if the system were shut down today and all accrued rights under current legislation were honoured. Our analysis illustrates that partial reforms have limited effects, both in distributional and in fiscal terms. To achieve more substantial effects, a more comprehensive approach is needed. Regional differences within the country are mostly due to differences in regional GDP rather than the pension system itself.
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Bibliographic InfoArticle provided by Interational Microsimulation Association in its journal International Journal of Microsimulation.
Volume (Year): 5 (2012)
Issue (Month): 2 ()
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micro-simulation; parametric reforms; pension; retirement;
Other versions of this item:
- alain Jousten & Sergio Perelman & Fabio Sigismondi & Ekaterina Tarantchenko, 2012. "Accrued Pension Rights in Belgium: Micro-Simulation of Reforms," CREPP Working Papers 1204, Centre de Recherche en Economie Publique et de la Population (CREPP) (Research Center on Public and Population Economics) HEC-Management School, University of Liège.
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- D. Dury & B. Eugène & G. Langenus & K. Van Cauter & L. Van Meensel, 2008. "Interregional transfers and solidarity mechanisms via the government budget," Economic Review, National Bank of Belgium, issue III, pages 93-112, September.
- Robert Holzmann & Robert Palacios & Asta Zviniene, 2001. "On the Economics and Scope of Implicit Pension Debt: An International Perspective," Empirica, Springer, vol. 28(1), pages 97-129, March.
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