J. Chateau, X. Chojnicki and R. Magnani
Journal of Pensions Economics and Finance, Vol. 8, 2009, p. 1-33.
This article presents a quantitative analysis of the effect of ageing and pension reforms on the capital and labour markets of France, Germany and the United Kingdom. It looks in particular at the effect on flows of capital between European countries. It compares and contrasts the situation and systems in these three countries, and concludes that using debt financing seems to be an ineffective way of financing retirement systems.
J. Song and J. Manchester
Research on Aging, vol.31, 2009, p. 233-260
In an effort to improve the solvency of the state pension system, the US Congress enacted the Social Security Amendments of 1983 and the Senior Citizens' Freedom to Work Act of 2000. These reforms gradually raise the normal retirement age and remove the retirement earnings test. The authors examine the impact of these reforms on the age at which people claim state retirement benefits. They estimate that an increase of 12 months in the normal retirement age decreases the probability of claiming benefits at 62 by about 8%.
(See also Research on Aging, vol.31, 2009, p. 261-290)
C.M. Lewis and P. Lloyd-Sherlock
Economy and Society, vol.38, 2009, p. 109-131
This article examines the structural and organisational problems facing social insurance systems in Brazil and Argentina through the twentieth century. Much of the current debate depicts crises in social insurance systems as a modern phenomenon. In contrast, this article stresses the generational and cyclical nature of the crises that have plagued social insurance regimes in both countries. Pension funds established for influential groups of workers in the early twentieth century quickly developed deficits and this led to the extension of social insurance (and hence the pool of contributors). Financial instability was exacerbated by states frequently raiding pension funds. The article analyses historic shifts between various social insurance models (individual, capitalised accounts versus pay-as-you-go schemes and monopolistic state systems versus competitive arrangements), evaluating their impact on coverage, equity, financial stability and administrative effectiveness.
S.R. Rose and W. Cartwright
Journal of Comparative Social Welfare, vol. 25, 2009, p. 17-25
Privatisation involves placing contributions to the US national pension system (Social Security) into individual savings accounts. Recent moves to promote such privatisation assume that the Social Security system itself is in crisis due to future projected financial shortfalls. However, it is argued that minor adjustments to the system should be sufficient to ensure its future sustainability without abandoning it to the private sector.