The Greek Pension Reforms

• Tác giả: Milton Nektarios
• Ngôn ngữ: eng
• Ký hiệu phân loại: 520.93 Astronomy and allied sciences
• Thông tin xuất bản: World Bank, Washington, DC, 2019
• Bộ sưu tập: Tài liệu truy cập mở
• ID: 298405
• Chủ đề: 1. DEFINED BENEFIT; 2. FINANCIAL DEFINED CONTRIBUTION; 3. NOTIONALLY DEFINED CONTRIBUTION; 4. PAY-AS-YOU-GO; 5. PENSION REFORM

Tóm tắt

 Greece's current pension system relies almost exclusively on the state and remains staunchly pay-as-you-go (PAYG) and defined benefit (DB). This paper offers a radical proposal for change: (i) a new multi-pillar notional and financial defined contribution (NDC and FDC) pension system for all generations first insured after 1993, with contribution rates for primary pensions reduced by 50 percent
  and (ii) a transitional system for those first insured before 1993. The proposal's robustness is tested actuarially for the period up to 2060. Though financing the legacy cost would be challenging, the quantitative exercise indicates that a radical pension reform, especially if implemented as a part of an overall recovery package, could set the country on a more favorable growth trajectory.