A Necessary Sustainability Condition for partially Funded Pension Systems
This paper presents a necessary condition on the sustainability for defined contribution pension systems with a funded component under the assumption of a constant contribution rate and in the stabilisation phase. The work finds classification in the framework of “logically sustainable pension systems”, introduced in Angrisani (2006; 2008), which are pension systems whose sustainability is founded on logical-mathematical rules rather than on actuarial forecasting. On the base of this theory and by assuming an efficient rule on the rate of return on the pension liability, we give the condition relative to the “minimum level” of the constant contribution rate, only necessary for the sustainability of pension systems in the stabilisation phase. The paper also gives the numerical example where the necessary condition of sustainability is applied.
|This chapter was published in: Massimo Angrisani & Cinzia Di Palo , , pages 773-788, 2011.|
|This item is provided by University of Primorska, Faculty of Management Koper in its series MIC 2011: Managing Sustainability? Proceedings of the 12th International Conference, Portorož, 23–26 November 2011 [Selected Papers] with number 773-788.|
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- Palmer, Edward, 2000. "The Swedish pension reform model : framework and issues," Social Protection Discussion Papers 23086, The World Bank.
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