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Quel avenir pour le Fonds de réserve pour les retraites ?

Author

Listed:
  • Rodrigue Mendez
  • Lionel Ragot

Abstract

We use a model based on the latest forecasts by the French Retirement Advisory Council (Conseil d?Orientation des Retraites : COR) at the moment when the study was carried out and a Bootstrap simulation of the rate of return on the financial portfolio of the French Pension Reserve Fund (Fonds de Réserve pour les Retraites : FRR). Our results indicate that the FRR will cover at most 24 % of the expected deficit in 2020 and 14.9 % in 2040. We also explore the benefits and risks of a multipillar pension system in which the FRR is turned into a permanent ?public pension fund? (Fonds de Pension Public : FPP). The FPP contribution might raise the replacement rates substantially from 2050 on. However, the transition is long and risky owing to the significant probability of a lower replacement rate in the multipillar system in the first 30 years.

Suggested Citation

  • Rodrigue Mendez & Lionel Ragot, 2010. "Quel avenir pour le Fonds de réserve pour les retraites ?," Economie & Prévision, La Documentation Française, vol. 0(3), pages 57-78.
    • Handle: RePEc:cai:ecoldc:ecop_194_0057
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    References listed on IDEAS

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