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US Pension Reform: Lessons from Other Countries

Author

Listed:
  • Martin Neil Baily

    (Peterson Institute for International Economics)

  • Jacob Funk Kirkegaard

    (Peterson Institute for International Economics)

Abstract

It is generally accepted that Social Security must be reformed, but there is little agreement on what should be done to reform the program. US Pension Reform: Lessons from Other Countries looks at the social pension reforms of twelve other countries, assesses the current US Social Security program, and evaluates how these twelve models inform opportunities for adaptation of the current system. The authors consider governments' current fiscal balances in order to contextualize countries' initial financial liabilities and pension program infrastructure. * The book concludes with an integrated reform proposal for Social Security. These prescriptions suggest concrete plans to address issues such as underfunding, benefits for high-income participants and the elderly demographic segment, as well as the creation of an individual account program. This volume forges significant advances and boldly confronts the challenge of reconstructing the US Social Security program.

Suggested Citation

  • Martin Neil Baily & Jacob Funk Kirkegaard, 2009. "US Pension Reform: Lessons from Other Countries," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 4259, October.
    • Handle: RePEc:iie:ppress:4259
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    Citations

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    Cited by:

    1. Jan Bonenkamp & Lex Meijdam & Eduard Ponds & Ed Westerhout, 2017. "Ageing-driven pension reforms," Journal of Population Economics, Springer;European Society for Population Economics, vol. 30(3), pages 953-976, July.
    2. Balázs Király & András Simonovits, 2019. "Learning to save in a voluntary pension system: toward an agent-based model," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 14(1), pages 121-145, March.
    3. Jacob Kirkegaard, 2009. "Defined Contribution Accounts - Still an Indispensable Idea," ifo DICE Report, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 7(4), pages 16-21, 01.
    4. Alejandra Cox Edwards & Estelle James, 2010. "Impact of Social Security Reform on Labor Force Participation Rates of Pensioners and Nonpensioners: Evidence from Chile," Journal of Human Capital, University of Chicago Press, vol. 4(2), pages 130-172.
    5. Schmult, Brian, 2012. "Improving Understanding of the Social Security OASDI Trust Fund," MPRA Paper 44227, University Library of Munich, Germany, revised 05 Feb 2013.
    6. Andras Simonovits, 2009. "Hungarian Pension System and its Reform," CERS-IE WORKING PAPERS 0908, Institute of Economics, Centre for Economic and Regional Studies.
    7. Andras Simonovits, 2013. "A family of simple paternalistic transfer models," CERS-IE WORKING PAPERS 1324, Institute of Economics, Centre for Economic and Regional Studies.
    8. Jacob Kirkegaard, 2009. "Defined Contribution Accounts - Still an Indispensable Idea," ifo DICE Report, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 7(04), pages 16-21, January.
    9. Westerhout, Ed & Ponds, Eduard & Zwaneveld, P.J., 2021. "Completing Dutch Pension Reform," Other publications TiSEM 4ee13c87-dd61-481b-bcb7-c, Tilburg University, School of Economics and Management.
    10. Andras Simonovits, 2009. "A Simple Model of Tax-Favored Retirement Accounts," CERS-IE WORKING PAPERS 0915, Institute of Economics, Centre for Economic and Regional Studies.
    11. repec:ces:ifodic:v:7:y:2009:i:4:p:14567041 is not listed on IDEAS

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