Costs and Benefits of Collective Pension Systems by Onno W. Steenbeek, S. G. Fieke van der Lecq

By Onno W. Steenbeek, S. G. Fieke van der Lecq

The Dutch pension method is usually praised as the best on the earth: it truly is effective, it offers walk in the park to contributors and it preserves solidarity and harmony between staff and pensioners. This e-book provides those merits intimately, supported via quantitative facts. It additionally discusses the facets of the process which are much less beneficial, even if, reminiscent of implicit worth transfers from more youthful to older generations that restrict mobility of labour. The analyses of either advantages and prices might help pension fund managers, forums of trustees, supervisors, and researchers to appreciate and to enhance pension structures at the moment in position worldwide.

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Gender solidarity: women aged 65 are expected to live 5 to 6 years longer than men, while all pay the same level premium. Women also run a higher risk of occupational disability. One special form of solidarity concerns the option of exchanging (usually towards the age of 65) the surviving dependant’s pension for a higher or earlier old-age pension. The principle of equal rights demands gender-neutral exchange factors, leading to a weighted average of male and female factors that generally work out favourably for women and less favourably for men.

Everyone must know what solidarities are involved and how much they cost. The participants can then form a standpoint as to which solidarities are necessary or unnecessary, and to what extent. They thus, knowingly and willingly, enter into a commitment to pay the price of the solidarities that they collectively wish to preserve. Given that pensions are basically deferred income, it is reasonable to argue that they should be redistributed in the same way as the current income. g. employers or trade unions) should have any influence in this case.

Socio-economic class: the difference in life expectancy between persons of diverse socio-economic classes is substantial and can be as high as five years. This causes a redistribution of funds from lower to higher socio-economic classes. This too can be considered as a form of perverse solidarity. 8. Gender solidarity: women aged 65 are expected to live 5 to 6 years longer than men, while all pay the same level premium. Women also run a higher risk of occupational disability. One special form of solidarity concerns the option of exchanging (usually towards the age of 65) the surviving dependant’s pension for a higher or earlier old-age pension.

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