A universal fully funded pension scheme
Contemporary Economic Policy
Wiley-Blackwell Publishing, Inc.
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.
Copyright © Western Economic Association International
Access to external full text or publisher's version may require subscription.
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