Click here to skip to content

Welfare Reform on the Web (July 2002): Pensions - Overseas

THE COLD WAR IN WELFARE : STOCK MARKET VERSUS PENSIONS

R. Minns

London: Verso, 2001

This book explores the idea of a new cold war, which has developed between competing blocs of counties over the role of stock markets versus the state in the provision of pensions, or social security and the general financing of the economy.

EARLY RETIREMENT PROGRAMS AND WAGE RESTRAINT: EMPIRICAL EVIDENCE FROM FRANCE

D. M. Gray

Industrial and Labour Relations Review, vol. 55, 2002, p. 512-532

In some European countries labour-force withdrawal programs such as government subsidized early retirement programs are an important unemployment policy instrument.This paper looks at France's use of such a policy and its effectiveness and analyses the wage pressure effects of such a policy between 1984-86

THE ECONOMICS OF PENSIONS : A NON-CONVENTIONAL APPROACH

S. Cesaratto

Review of Political Economy, vol. 14, 2002, p. 149-177

Article compares the economic foundations of two alternative pension systems : the pay-as-you-go system and the capitalisation system. It uses non-orthodox Keynesian and Sraffian economics both to criticise Samuelson's view of pay-as-you-go systems and Feldstein's promotion of capitalisation systems, which together constitute the conventional wisdom.

THE INSTITUTIONAL FRAMEWORK OF PRIVATISED PUBLIC PENSION PLANS: THE CASE OF FORMER SOCIALIST ECONOMIES

P. L. Kahn

European Journal of Social Security, vol. 3, 2002, p. 333-352

Though privatising public pension systems may have worked well in certain Latin American countries, the model may be unsuitable for countries in transition to capitalism. They lack the legal, regulatory and financial systems to adequately control the discretion of fund managers and to ensure that their behaviour is determined by the interests of fund participants, rather than their own financial interests.

OLD AGE PROTECTION IN INDIA: PROBLEMS AND PROGNOSIS

R. Goswami

International Social Security Review, vol. 55, no. 2, 2002, p. 95-121

It is argued that low coverage level, under-performance of provident fund schemes due to investment restrictions, and financial difficulties in administering unfunded public pension programmes have rendered the present system in India ineffective and unsustainable. There is a need for structural and lasting change, following recent failed experiments with an hoc reform initiatives.

REFORMING PENSIONS : MYTHS, TRUTHS AND POLICY CHOICES

N. Barr

International Social Security Review, vol. 55, no. 2, 2002, p. 3-36

Paper begins by setting out the simple economics of pensions. Then goes on to explore three sets of misleading guides to policy concerning the macroeconomics of pensions, pension design, and the role of government. The third section of the article discusses the essentials of pension design and the pre-requisites for reform. The fourth section explores the range of choices facing policy makers, drawing on the very different arrangements in different countries.

Search Welfare Reform on the Web