Title

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

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

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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