Title: Aligning Retirement Policy with Labor Needs
Abstract: As populations age in the industrialized societies, national governments will face significant challenges in financing their public retirement schemes. Many of the financial pressures will arise from the inherent design of their pay-go pension systems. In Chapter 4, we showed that the financial condition of pay-go pension programs directly relates to the evolution of the old-age dependency ratio and the program's income replacement rate. In the developed nations today, these programs are largely financed through payroll taxes and pay a defined benefit. The demographic transition occurring in nearly all industrialized societies today will significantly inflate the percent of GDP and the tax revenues these programs consume.
Publication Year: 2005
Publication Date: 2005-01-17
Language: en
Type: book-chapter
Indexed In: ['crossref']
Access and Citation
AI Researcher Chatbot
Get quick answers to your questions about the article from our AI researcher chatbot