Footnote:
Literaturverz. S. 38 - 39
Internetausg.: ftp://129.187.96.124/CESifo_WP/466.pdf
Description:
The paper examines the effects of ageing and makes a case for partial prefunding of pensions. The argument is based on inter-generational fairness in a situation where pension expenditure as compared to wages increases due to low fertility and increasing longevity. We illustrate the approach by using data representing a typical EU candidate country of Central and Eastern Europe with a relatively high pension replacement rate. Pre-funding can take place within the public sector or in a privatised second pillar. We emphasise the need for a consistent framework to cover the many different institutional options available for pension financing.