IDEAS home Printed from https://ideas.repec.org/p/bbv/wpaper/1111.html
   My bibliography  Save this paper

The unavoidable role of private pensions in retirement income systems

Author

Listed:
  • Juan Yermo

Abstract

This work describes the growing need that governments face to reform their pension systems into more financially sustainable structures, especially in light of the recent financial crisis and the rapidly ageing population. The study identi!ies two main types of structural reforms: those that automatically link the public pension system’s parameters to the demography or actuaries, and those that lead to a partial replacement of the PAYG-!inanced public pension systems by private pension arrangements and the transfer of a part of social security contributions to fully-funded, DC accounts. While both types of reform bring about long-term improvements in the financial balance of the public pension system, their design may have very different implications for the adequacy and equity of pension systems that policymakers need to address.

Suggested Citation

  • Juan Yermo, 2011. "The unavoidable role of private pensions in retirement income systems," Working Papers 1111, BBVA Bank, Economic Research Department.
  • Handle: RePEc:bbv:wpaper:1111
    as

    Download full text from publisher

    File URL: http://www.bbvaresearch.com/wp-content/uploads/migrados/WP_1111_tcm348-251034.pdf
    Download Restriction: no

    References listed on IDEAS

    as
    1. Javier Alonso & David Tuesta & Jasmina Bjeletic & Carlos Herrera & Soledad Hormazabal & Ivonne Ordonez & Carolina Romero, 2009. "Proyecciones del impacto de los fondos de pensiones en la inversion en infraestructura y el crecimiento en Latinoamerica," Working Papers 0921, BBVA Bank, Economic Research Department.
    Full references (including those not matched with items on IDEAS)

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bbv:wpaper:1111. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (OSCAR DE LAS PENAS SANCHEZ-CARO). General contact details of provider: http://edirc.repec.org/data/ebbvaes.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.