Search results for "Pension"
showing 10 items of 513 documents
AN EXPERIMENTAL TEST ON RETIREMENT DECISIONS
2007
I. INTRODUCTION The reform of social security systems is now one of the main issues on the economic policy agenda of most industrialized countries. It is widely considered that, unless serious changes take place, the aging of the population implying a rise in the number of retirees relative to that of workers will threaten the viability, of pay-as-you-go public pension systems in the long run. This threat is being reinforced by the progressive reduction in the retirement age of the working population. The central reforms that are being proposed to neutralize these future financing problems are the raising of the contribution rate, the decreasing of pension benefits, or/and the delay of the …
Subjective Economic Risk to Beneficiaries in Notional Defined Contribution Accounts
2006
ABSTRACT This article aims to quantify the aggregate subjective economic risk to which beneficiaries would be exposed if a retirement pension system based on notional account philosophy were introduced. We use scenario generation techniques to make projections of the factors that determine the real expected internal rate of return (IRR) and the expected replacement rate (RR) for the beneficiary according to six retirement formulae based on the most widely accepted rates or indices. We then apply the model to the case of Spain. Our projections are based on Herce and Alonso's macroeconomic scenario 2000-2050 (2000) and include information about the past performance of the indices and the time…
Automatic Balance Mechanisms in Pay-As-You-Go Pension Systems
2009
This paper shows the usefulness of the automatic balance mechanisms (ABMs) and explores the issue of introducing an ABM into the Spanish public contributory retirement pension system. We define the concept of the automatic balance mechanism and carry out an analysis of those existing in Sweden, Canada, Germany, Japan and Finland. We also present an indicator of the Spanish system's solvency which emerges from the actuarial balance sheet, and simulate the effect that certain changes in the parameters of the present system would have on solvency, showing the direction that could be taken if the mechanism were to be introduced in Spain. The main conclusion reached is that, given the system's s…
"Compiling the Actuarial Balance for Pay-As-You-Go Pension Systems. Is it better to use the Hidden Asset or the Contribution Asset?"
2013
The aim of this paper is twofold: to establish the connection between the "contribution asset" (CA) and the "hidden asset" (HA) and to determine whether using either of them to compile the actuarial balance sheet in the pay-as-you-go (PAYG) pension system will provide a reliable solvency indicator. With these aims in mind, we develop a model based on those first put forward by Settergren and Mikula (2005) and Boado-Penas et al. (2008) to obtain the analytical properties of the CA and to confirm its soundness as a measure of the assets of a PAYG scheme. Our model also enables us to explore whether, and to what extent, the HA can be considered a second alternative measure of the assets for PA…
Análisis de la representatividad de la MCVL: el caso de las prestaciones del sistema público de pensiones
2016
El objetivo de este trabajo es contribuir a aumentar el conocimiento de la Muestra Continua de Vidas Laborales (MCVL) en cuanto a la informacion sobre prestaciones y advertir de posibles errores que se podrian cometer a la hora de realizar cierto tipo de estudios sobre el sistema publico de pensiones. Se analiza el conjunto de datos de prestaciones de la MCVL de 2010 teniendo en cuenta los datos agrupados por tipo de pension, grupos de edad y genero, asi como por cuantia. Despues de realizar las pruebas estadisticas apropiadas sobre el ajuste de la muestra a la poblacion basada en los datos del Informe Estadistico anual del INSS del mismo ano, se concluye que los datos extraidos de la MCVL …
Influencia de la parcialidad laboral en la viabilidad del sistema de pensiones español
2018
El objetivo fundamental de este trabajo es el análisis de la viabilidad financiera del sistema contributivo de pensiones de jubilación español, tras las reformas adoptadas por la Ley 27/2011 y la Ley 23/2013, teniendo en cuenta el incremento del desempleo y de la parcialidad de los últimos años. La investigación se desarrolla
 a partir del estudio de trayectorias laborales “tipo”, extraídas de las probabilidades de transición entre el empleo a tiempo completo, el empleo a tiempo parcial, el desempleo contributivo y la inactividad obtenidas a partir de la Encuesta de Condiciones de Vida (ECV2011-2014). El efecto que estas transiciones laborales tiene sobre la viabilidad financiera del s…
Empirical Approaches Upon Pension Systems in Central and Eastern European Countries. Triangle Assessment: Free Movement of People, Labor Market and P…
2020
Abstract Nowadays, around the world, it can be noticed an important trend towards the pension system reforms. The creation of the European fiscal space, the effects of globalization and the movement of the labour force are important vectors towards creating a new type of social economy. The labour force is constantly moving around the countries that gathered important amounts of capital, especially in industrialized countries. Moreover, the lower levels of the birth rate combined with the increasing level of death rate unbalance the labour market. The entire European continent undergoes a demographical transition period, highlighted by aging and intensive migration. This phenomenon is regis…
Trends Regarding the Evolution of the Romanian Pension System
2018
Abstract The pension system, together with the social assistance services form the social security system is recognized worldwide throughout the adoption of the Universal Declaration of Human Rights for the purpose of insured person compensation for damages regarding some inherent risks as: permanent or temporary inability of work, old age or unemployment. The main objectives of a pension system are decreasing poverty regarding the lower income persons throughout the conditions of limitation of the working capacity which are financially vulnerable. In this article we provide a qualitative and quantitative overview regarding the Romanian pension system structure and mechanism. The conclusion…
Electrophoretic flow behaviour and mobility of colloidal fluids and crystals.
2007
We report on measurements of the electrophoretic mobility mu of charged colloidal spheres in the deionized state, where the suspensions show fluid or crystalline order. In the fluid state, parabolic flow profiles are observed due to electro-osmotic solvent flow. In the crystalline state, complex flow profiles occur due to additional crystal cohesion. The mobility mu then may inferred from the flow velocity averaged over the complete cell cross section as performed in our home built super-heterodyne Doppler velocimeter. For two particle species of 68 and 122 nm diameter we measured mu as a function of particle concentration. Starting from a plateau value at low concentration, mu decreases ap…
Behavioural Consequences of P-Glycoprotein Deficiency in Mice, with Special Focus on Stress-Related Mechanisms
2012
P-glycoprotein (P-gp), an efflux transporter localised in the blood-brain barrier, limits the access of multiple xenobiotics to the central nervous system. Whether it is also implemented in the transport of the endogenous glucocorticoid corticosterone is a matter of debate. The P-gp knockout mouse model [abcb1a/b (-/-)] has been shown to differ in the functioning of the hypothalamic-pituitary adrenal (HPA) axis. In the present study, we investigated the behaviour of abcb1a/b (-/-) and wild-type mice with respect to stress-related tests and the effects of corticosterone. Behavioural activities were assessed in the open field (OF) test for 4 days, and in the forced swimming test (FST) and tai…