Fertility, dependency and social security
A subject of considerable policy concern is the problem presented by declining fertility rates for social security systems in general and Pay-As-You-Go pension schemes in particular. Solutions proposed range from complete privatisation of the pensions system, through supplementary private tax-advantaged savings schemes, to "parametric reform" of the existing schemes, involving increases in contribution rates and retirement ages, and reductions in the real value of benefit levels. This paper...[Show more]
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