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Some Considerations Relevant to Prefunded Pensions in France


  • Joaquim Vieira Ferreira Levy


Increasing use of life insurance instruments and company-sponsored funds in France suggests that French households may be inclined to a greater reliance on financial savings as a source of retirement income. This paper examines the challenges imposed by an aging population on the pay-as-you-go basic and supplementary pension systems, the growth of life insurance and company-sponsored funds in the absence of a comprehensive legislation on prefunded pensions, and issues related to prefunding pension schemes, such as the possibility of an welfare enhancing transition to prefunding; effects on capital markets in view of the experience in other OECD countries; and the importance of the transportability of pensions and measures fostering competition in financial markets.

Suggested Citation

  • Joaquim Vieira Ferreira Levy, 1995. "Some Considerations Relevant to Prefunded Pensions in France," IMF Working Papers 95/64, International Monetary Fund.
  • Handle: RePEc:imf:imfwpa:95/64

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    Cited by:

    1. Berthold, Norbert & Fehn, Rainer, 2002. "Struktureller Wandel, new economy und Besch√§ftigungsentwicklung: welche Rolle spielen die institutionellen Rahmenbedingungen auf dem Kapitalmarkt?," Discussion Paper Series 53, Julius Maximilian University of W√ľrzburg, Chair of Economic Order and Social Policy.


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