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The Evolution of Public Pension Schemes

  • Book
  • © 1988

Overview

Authors:
  1. Harrie Verbon

    1. Economics Department, University of Amsterdam, Amsterdam, The Netherlands

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Part of the book series: Microeconomic Studies (MICROECONOMIC)

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Table of contents (10 chapters)

  1. Front Matter

    Pages I-XII
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  2. Introduction

    • Harrie Verbon
    Pages 1-7

  3. The History of Transfer Payments for the Old

    • Harrie Verbon
    Pages 8-36

  4. The Case for Government Intervention

    • Harrie Verbon
    Pages 37-55

  5. The Choice of Financing Method: Economic Motives

    • Harrie Verbon
    Pages 56-74

  6. The Choice of Financing Method: Political Motives

    • Harrie Verbon
    Pages 75-100

  7. Tax-Transfer View, Altruism and Political Power

    • Harrie Verbon
    Pages 101-141

  8. Uncertainty and Redistribution

    • Harrie Verbon
    Pages 142-177

  9. The Rise and Evolution of PAYG-Systems

    • Harrie Verbon
    Pages 178-212

  10. Public Pensions in a Small Open Economy

    • Harrie Verbon
    Pages 213-232

  11. An Evaluation

    • Harrie Verbon
    Pages 233-242

  12. Back Matter

    Pages 243-287
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Keywords

About this book

1. 1 An introduction to the problem This book deals with the development of public pension schemes. The operation of public pension schemes has drawn a great deal of attention recently due to ageing of the population which has become apparent since the 19 70s. This would probably have been less of a problem if these schemes had been financed by a Capital Reserve (abbreviated from now on as CR) system. As is well-known, in a pure CR-system individuals (or generations) save for their own retirement. The (average) rate of return on the premiums paid in this system equals the real rate of interest and, in principle, changes in the rate of population growth do not affect the premium rate or the benefit rate of the system. Most public pension schemes, however, are financed by a Pay-As-You-Go (abbreviated from now on as PAYG) system. In this system current pension payments are financed by current premium payments. In contrast to the CR-system intergenerational transfers occur in this system. If the number of retired people increases relative to the number of workers the premium rate will increase under PAYG. In itself this increase does not have to imply any concern for the premium paying population. What counts is whether the rate of return under a PAYG-system will fall (too far) below the rate of return the CR-system is offering.

Authors and Affiliations

  • Economics Department, University of Amsterdam, Amsterdam, The Netherlands

    Harrie Verbon

Bibliographic Information

  • Book Title: The Evolution of Public Pension Schemes

  • Authors: Harrie Verbon

  • Series Title: Microeconomic Studies

  • DOI: https://doi.org/10.1007/978-3-642-45653-4

  • Publisher: Springer Berlin, Heidelberg

  • eBook Packages: Springer Book Archive

  • Copyright Information: Springer-Verlag Berlin Heidelberg 1988

  • Softcover ISBN: 978-3-642-45655-8Published: 09 March 2012

  • eBook ISBN: 978-3-642-45653-4Published: 06 December 2012

  • Series ISSN: 1431-6005

  • Edition Number: 1

  • Number of Pages: XII, 287

  • Topics: Economics, general

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