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Social Insurance: How to Pay for Pensions and Health Care?

In: Demographic Change in Germany

Author

Listed:
  • Martin Werding

    (Ifo Institute for Economic Research at the University of Munich)

Abstract

It is easy to see that broad-based social protection schemes which are financed on a pure pay-as-you-go basis and, at a given point in time, mainly redistribute resources from the young and middle-aged to the old will be put under substantial financial pressure as the process of demographic aging unfolds. Compared to the consequences of aging in other areas, such as labor markets, capital markets, economic development in general and other areas of public finance, its impact on pay-as-you-go social protection schemes is probably best understood. In any case, it has been subject to extensive research and, in many of the countries affected, has already led to policy changes. These may have been more or less fundamental in their nature. Also, they were sometimes enacted at an early stage, sometimes more recently, as it may have taken time to convince politicians and the greater public of the necessity to make some adjustments.

Suggested Citation

  • Martin Werding, 2008. "Social Insurance: How to Pay for Pensions and Health Care?," Springer Books, in: Ingrid Hamm & Helmut Seitz & Martin Werding (ed.), Demographic Change in Germany, pages 89-128, Springer.
    • Handle: RePEc:spr:sprchp:978-3-540-68137-3_5
    DOI: 10.1007/978-3-540-68137-3_5
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    Cited by:

    1. Volker Meier & Martin Werding, 2010. "Ageing and the welfare state: securing sustainability," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 26(4), pages 655-673, Winter.
    2. Fanny Annemarie Kluge, 2013. "The Fiscal Impact of Population Aging in Germany," Public Finance Review, , vol. 41(1), pages 37-63, January.
    3. Michael Hofmann & Gerhard Kempkes & Helmut Seitz, 2008. "Demographic Change and Public Sector Budgets in a Federal System," CESifo Working Paper Series 2317, CESifo.

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