A universal fully funded pension scheme

    Research output: Journal PublicationsJournal Article (refereed)Researchpeer-review

    Abstract

    This paper puts forward a public pension scheme that is fully funded for each cohort and covers everybody. The scheme is an application of the generational accounting concept. As compared to pay-as-you-go schemes, it is free of the vagaries of uncertain demographic changes. Because payouts for each cohort are directly related to contributions, it is also free of political pressures to increase benefits. The paper looks at various refinements to the scheme and compares it with the Mandatory Private Provident Fund, which has become popular in recent years.
    Original languageEnglish
    Pages (from-to)13-20
    Number of pages8
    JournalContemporary Economic Policy
    Volume15
    Issue number3
    DOIs
    Publication statusPublished - 1 Jul 1997

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    pay-as-you-go
    pension
    population development
    Pension scheme
    Cohort
    Pay-as-you-go tax
    Demographic change
    Generational accounting
    Public pensions

    Cite this

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    abstract = "This paper puts forward a public pension scheme that is fully funded for each cohort and covers everybody. The scheme is an application of the generational accounting concept. As compared to pay-as-you-go schemes, it is free of the vagaries of uncertain demographic changes. Because payouts for each cohort are directly related to contributions, it is also free of political pressures to increase benefits. The paper looks at various refinements to the scheme and compares it with the Mandatory Private Provident Fund, which has become popular in recent years.",
    author = "HO, {Lok Sang}",
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    A universal fully funded pension scheme. / HO, Lok Sang.

    In: Contemporary Economic Policy, Vol. 15, No. 3, 01.07.1997, p. 13-20.

    Research output: Journal PublicationsJournal Article (refereed)Researchpeer-review

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    AB - This paper puts forward a public pension scheme that is fully funded for each cohort and covers everybody. The scheme is an application of the generational accounting concept. As compared to pay-as-you-go schemes, it is free of the vagaries of uncertain demographic changes. Because payouts for each cohort are directly related to contributions, it is also free of political pressures to increase benefits. The paper looks at various refinements to the scheme and compares it with the Mandatory Private Provident Fund, which has become popular in recent years.

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