The Future of Social Security Pensions in Europe
AbstractThis paper discusses a possible solution to the double problem that faces European governments in dealing with the future of Social Security pensions. Like other governments around the world, they must deal with the rising cost of pensions that will result from the increasing life expectancy of the population. But the European governments have the extra problem that any solution must be compatible with a European Union labor market in which individuals from any member country are free to work anywhere within the European Union. The solution to this double problem that is developed in this paper combines an investment-based system of individual accounts with a 'notional defined contribution' system financed by pay-as-you-go taxes.
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Bibliographic InfoPaper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 8487.
Date of creation: Sep 2001
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Publication status: published as Naar beste vermogen, Essays Honoring Pieter Korteweg, eds. JJ van Duijn, et. al., Kluwer, December 2001.
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Other versions of this item:
- Feldstein, Martin, 2002. "The future of social security pensions in Europe," Journal of Financial Transformation, Capco Institute, Capco Institute, vol. 5, pages 8-12.
- H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
This paper has been announced in the following NEP Reports:
- NEP-ALL-2001-10-01 (All new papers)
- NEP-EEC-2001-10-01 (European Economics)
- NEP-PBE-2001-10-01 (Public Economics)
- NEP-PUB-2001-10-01 (Public Finance)
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