From Generosity to Sustainability
AbstractAustria has probably the world’s highest pension expenditures relative to its economic size, largely because of the generosity of its pension system. This paper examines the institutional setup of the Austrian pension system and projects its future development based on current policies. The projection results show a swift financial worsening. With the already high level of contribution rates, pension expenditures, and budget transfers, the results underscore the need for reform. Much of this reform can, however, be achieved by maintaining the structure of the system and adjusting some of its key parameters. The paper outlines options for such a reform.
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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 97/10.
Date of creation: 01 Jan 1997
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Postal: International Monetary Fund, Washington, DC USA
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- Josef Baumgartner & Helmut Hofer & Serguei Kaniovski & Ulrich Schuh & Thomas Url, 2006.
"Employment and growth in an aging society: a simulation study for Austria,"
Springer, vol. 33(1), pages 19-33, March.
- Baumgartner, Josef & Hofer, Helmut & Kaniovski, Serguei & Schuh, Ulrich & Url, Thomas, 2004. "Employment and Growth in an Aging Society. A Simulation Study for Austria," Economics Series 163, Institute for Advanced Studies.
- Stanislaw Gomulka & Marek Styczen, 1999. "Estimating the Impact of the 1999 Pension Reform in Poland, 2000 - 2050," CASE-CEU Working Papers 0027, CASE-Center for Social and Economic Research.
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