Parametric pension reform with higher retirement ages: a computational investigation of alternatives for a pay-as-you-go-based pension system
Author
Sayan, S.
Kiraci, A.
Date
2001Source Title
Journal of Economic Dynamics and Control
Print ISSN
0165-1889
Publisher
Elsevier BV
Volume
25
Issue
6-7
Pages
951 - 966
Language
English
Type
ArticleItem Usage Stats
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Abstract
This. paper discusses parametric reform options to control losses generated by a publicly managed pay-as-you-go (PAYG) pension system under alternative deficit reduction (reform) strategies involving changes in contribution and replacement rates and statutory retirement ages. Two different problems corresponding to different pension reform strategies are considered using computational techniques. The techniques are illustrated through exercises employing data for the financially troubled pension system in Turkey. (C) 2001 Elsevier Science B.V. All rights reserved.