A universal fully funded pension scheme
Document Type
Journal article
Source Publication
Contemporary Economic Policy
Publication Date
7-1-1997
Volume
15
Issue
3
First Page
13
Last Page
20
Publisher
Wiley-Blackwell Publishing, Inc.
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.
DOI
10.1111/j.1465-7287.1997.tb00473.x
Print ISSN
10743529
E-ISSN
14657287
Publisher Statement
Copyright © Western Economic Association International
Access to external full text or publisher's version may require subscription.
Full-text Version
Publisher’s Version
Language
English
Recommended Citation
Ho, L. S. (1997). A universal fully funded pension scheme. Contemporary Economic Policy, 15(3), 13-20. doi: 10.1111/j.1465-7287.1997.tb00473.x