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A Basic Social Pension for Everyone?

In: Mathematical and Statistical Methods for Actuarial Sciences and Finance

Author

Listed:
  • Joseba Iñaki De La Peña

    (University of the Basque Country (UPV/EHU))

  • Noemí Peña-Miguel

    (University of the Basque Country (UPV/EHU))

Abstract

The paper proposes a general basic pension system backed by a mixed financing model. A “basic social pension” (BSP) brings together all different aids given by different administration bodies, in a single scheme would do away with the inconsistencies and shortfalls observed in many current schemes, which result in disparities in the degree of protection received by different segments of the population. Such minimum basic social coverage would need to be backed up by a financing structure capable of guaranteeing its viability and sustainability over time in financial and social terms. It needs to reach most of the population and cover their basic necessities. Setting up a level of social protection sufficient to cover basic necessities would of course entail increasing the level of social assistance provided by the social security system, and this in turn would mean redefining the amounts payable through contributions. This redefinition has implications for sources of financing: public funding from taxation to cover the social assistance part and contributions from employers and workers to fund the contributory part.

Suggested Citation

  • Joseba Iñaki De La Peña & Noemí Peña-Miguel, 2018. "A Basic Social Pension for Everyone?," Springer Books, in: Marco Corazza & María Durbán & Aurea Grané & Cira Perna & Marilena Sibillo (ed.), Mathematical and Statistical Methods for Actuarial Sciences and Finance, pages 305-309, Springer.
    • Handle: RePEc:spr:sprchp:978-3-319-89824-7_55
    DOI: 10.1007/978-3-319-89824-7_55
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