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| Author: | Disney, R. |
| Title: | Declining public pensions in an era of demographic ageing: Will private provision fill the gap? |
| Journal: | European Economic Review
2000 : MAY, VOL. 44:4-6, p. 957-973 |
| Index terms: | Pensions Savings OECD |
| Language: | eng |
| Abstract: | Demographic crisis and imprudent commitments have induced a crisis in public pension programmes in OECD countries. Will present and prospective cutbacks lead to greater private saving, either in the form of private pension provision or in other forms of saving? This paper surveys existing evidence, and provides new results on 3 questions: Do individuals substitute private for public provision of savings when public pension programmes are cut back 'voluntarily'? Do individuals respond to incentives to join sponsored or tax subsidised arrangements if encouraged by the government? And, if individuals are prepared to make such arrangements, and where saving is voluntary, do they save 'enough' to replace previous prospective public pension flows? |
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