Some Considerations Relevant to Prefunded Pensions in FranceIncreasing use of life insurance instruments and company-sponsored funds in France suggests that French households may be inclined to a greater reliance on financial savings as a source of retirement income. This paper examines the challenges imposed by an aging population on the pay-as-you-go basic and supplementary pension systems, the growth of life insurance and company-sponsored funds in the absence of a comprehensive legislation on prefunded pensions, and issues related to prefunding pension schemes, such as the possibility of an welfare enhancing transition to prefunding; effects on capital markets in view of the experience in other OECD countries; and the importance of the transportability of pensions and measures fostering competition in financial markets. |
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Common terms and phrases
20 percent AGIRC ARRCO banks bonds capital accumulation ceiling Chauveau company-sponsored savings funds contractual savings Contribution Rates debt decrease defined contribution defined-benefit schemes defined-contribution schemes dependency ratio deposits Economics effects of pension effects on capital employees épargne favorable FCPES Fertility High Fertility financial institutions financial instruments financial markets firms French capital markets funded pensions High Participation incentives increases in contributions indexation institutional investors insurance companies insurance industry INTERNATIONAL MONETARY FUND investment labor supply liabilities Livre Blanc Loufir Low Fertility High mandatory contributions mutual funds Netherlands OECD paper Pareto improving pay-as-you-go system PEES pension system policies prefunded pension schemes prefunded schemes private pension funds proportion of stocks protection against inflation Real Returns real terms recent régimes complémentaires regulations require Retraites return ratio savings instruments sector share social security Source suggests supplementary pension supplementary schemes system in France Table taxable taxes on labor transition to prefunded United Kingdom World Bank
References to this book
Pension System Viability and Reform Alternatives in the Czech Republic Mr. Thomas Laursen No preview available - 2000 |