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(UBS Pensions Series 030) Credible Pensions

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  • Andrea Prat

Abstract

One of the main problems in pension policy is to develop an institutional framework that guarantees that public and private pensions promises are kept. This paper discusses how the governance of public and private pensions is key to making such promises credible. It argues that credibility concerns undermine the case for earnings-related pensions run by the state and private defined benefit plans.�

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File URL: http://www2.lse.ac.uk/fmg/workingPapers/discussionPapers/fmgdps/dp525.pdf
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Bibliographic Info

Paper provided by Financial Markets Group in its series FMG Discussion Papers with number dp525.

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Date of creation: Dec 2004
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Handle: RePEc:fmg:fmgdps:dp525

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Web page: http://www2.lse.ac.uk/fmg/

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