The present value of the future, or individual decisions behind superannuation investments
AbstractIn recent decades, there has been much debate on how a state can establish a pension system that takes into consideration the balance of the general government. In addition to the condition of an equilibrium, social security and the stability of the value of pensions should also be ensured. The Hungarian regulation, however, has compelled not only economic politicians, but also future pensioners make their choice several times. The aim of this paper is to study such choices and decisions. The authors demonstrate the effect mechanism of individual decisions through examples. They believe that decision-makers often do not consider the effect of their choices, and therefore the rightness of their steps is questionable.
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Bibliographic InfoArticle provided by State Audit Office of Hungary in its journal Public Finance Quarterly.
Volume (Year): 56 (2011)
Issue (Month): 2 ()
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pension system; portfolio choice; PAYG (pay-as-you-go) and PAYE (pay-as-you-earn) systems;
Find related papers by JEL classification:
- J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies
- G00 - Financial Economics - - General - - - General
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