Economic Challenges of Pension Systems

1. Front Matter

   Pages i-xvii

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2. Public Pension Systems: Bibliometric Study of Academic Publications in Scientific Journals

   • José Álvarez-García, Amador Durán-Sánchez, Marta Peris-Ortiz, María de de la Cruz del Río-Rama

   Pages 1-32

3. Demographic and Social Challenges in the Design of Public Pension Schemes

   • Estefanía Alaminos, Mercedes Ayuso, Montserrat Guillen

   Pages 33-55

4. The Public Pension Systems and the Economic Crisis

   • Borja Encinas-Goenechea, Robert Meneu-Gaya, María de la Cruz del Río-Rama

   Pages 57-80

5. Pensions, Economic Growth and Welfare in Advanced Economies

   • Enrique Devesa, Rafael Doménech

   Pages 81-103

6. Pension Systems and Labour Market Participation in European Countries

   • Filip Chybalski

   Pages 105-123

7. Sustainability of Public Pension Systems

   • José Enrique Devesa-Carpio, Beatriz Rosado-Cebrian, José Álvarez-García

   Pages 125-154

8. Equity of Public Pension System

   • Robert Meneu-Gaya, Borja Encinas-Goenechea, Inmaculada Domínguez-Fabián

   Pages 155-171

9. Adequacy of Public Pension Systems

   • Beatriz Rosado-Cebrian, Marta Peris-Ortiz, Carlos Rueda-Armengot

   Pages 173-191

10. Longevity Insurance Benefits for Social Security: International Experience

    • John A. Turner, Gerard Hughes, Agnieszka Chłoń-Domińczak, David M. Rajnes

    Pages 193-210

11. The French Mandatory Occupational Pension Scheme: History and Properties of a Point System

    • Frédéric Gannon, Florence Legros, Vincent Touzé

    Pages 211-233

12. Last Lessons Learned from the Swedish Public Pension System

    • María del Carmen Boado-Penas, Poontavika Naka, Ole Settergren

    Pages 235-254

13. The New Wave of Pension Reforms in Latin America

    • Carmelo Mesa-Lago, Diego Valero

    Pages 255-274

14. Financial Sustainability of the Algerian Retirement System: A Perspective Analysis of the 50 Coming Years

    • Farid Flici, Frédéric Planchet

    Pages 275-309

15. Pension Design and Risk Sharing: Mixed Solutions Between Defined Benefit and Defined Contribution for Public Pension Schemes

    • Pierre Devolder, Sébastien de Valeriola

    Pages 311-339

16. Automatic Balancing Mechanisms for Pay-As-You-Go Pension Finance: Do They Actually Work?

    • María del Carmen Boado-Penas, Humberto Godínez-Olivares, Steven Haberman

    Pages 341-358

17. The Role of Complementary Pensions

    • Mercedes Ayuso, Montserrat Guillen, Diego Valero

    Pages 359-375

18. A Two-Regime Performance Test of the Mexican Public Pension Funds (SIEFOREs)

    • Oscar V. De la Torre-Torres, Evaristo Galeana-Figueroa, Dora Aguilasocho-Montoya

    Pages 377-396

19. Regime-Switching in the Volatility of Mexican Pension Fund Returns

    • Francisco López-Herrera, Marissa R. Martínez-Preece, Roberto Joaquín Santillán-Salgado

    Pages 397-425

20. Critical Issues of Public Pension System: The Italian Case

    • Roberta Melis, Alessandro Trudda

    Pages 427-439

This book examines the major economic challenges associated with the sustainability of public pensions, specifically demographic change, labor-market relations, and risk sharing. The issue of public pensions occupies the political and economic agendas of many major governments in the world. International organizations such as the World Bank and the OECD warn that the economic changes driven by an aging society negatively affects the sustainability of pension systems. This book analyzes different global public pension systems to offer policies, methods and tools for sustainable public pensions. Real case studies from France, Sweden, Latin America, Algeria, USA and Mexico are featured.

• Pension Sustainability
• Pension Reforms
• PAYG systems
• French Mandatory Occupational Pension Scheme
• Swedish Public Pension System
• Pension Reforms in Latin America
• Welfare in Advanced Economies
• Financial Sustainability of Pension Systems
• Complementary Pensions
• Equity of Public Pension Systems
• Adequacy of Public Pension Systems
• Pay-As-You-Go Pension Finance
• Mixed Two-Step Pension System
• SIEFOREs
• sustainability
• household finance

• Department of Business Organization, Universitat Politècnica de València, Valencia, Spain

  Marta Peris-Ortiz

• Department of Financial Economics and Accounting, University of Extremadura, Cáceres, Spain

  José Álvarez-García

• Financial Economics and Accounting, University of Extremadura, Cáceres, Spain

  Inmaculada Domínguez-Fabián

• Institute of Statistics, Biostatistics and Actuarial Science (ISBA), Université Catholique de Louvain, Louvain-la-Neuve, Belgium

  Pierre Devolder

​Marta Peris-Ortiz is Full Professor at Universitat Politècnica de València (Spain). Her current research is focused on the topics of entrepreneurship, innovation, sustainability, corporate social responsibility and education innovation. She has co-edited and authored many scholarly books and articles in various international journals. She is also on the editorial boards of several international journals.
José Álvarez García is a Lecturer and Researcher in the Department of Financial Economics and Accounting at the Faculty of Business, Finance and Tourism,  University of Extremadura (Spain). Dr. Álvarez García's teaching and research is centered on Tourism Business.
Inmaculada Domínguez Fabián has a degree in Economics and Business Administration, a Master's Degree in Business Administration and Management and a PhD in Economics from the University of Extremadura (Spain). She is currently General Secretary of the University of Extremadura.
PierreDevolder is Professor of Quantitative Finance and Actuarial Sciences. His main research interests are pension funding, the application of stochastic processes to finance and insurance, fair valuation and solvency of insurance liabilities.

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