Costs and Benefits of Collective Pension Systems
Onno W. Steenbeek, S. G. Fieke van der Lecq
Springer Science & Business Media, Oct 11, 2007 - Political Science - 247 pages
In January 2006, the Dutch Association of Industry-wide Pension Funds (VB) told us about their plan to prepare a book on solidarity in collective pension systems. We were intrigued by this topic, both because of our - terest in the pension sector and because of the connection with solidarity in a cost-benefit approach. After some discussions with VB director Peter Borgdorff, we decided to start a project with leading scholars and prac- tioners, which was to result in a book. We hoped that the researchers could investigate the extent of value transfers within collective pension funds, so that quantitative indications of this institutionalized solidarity would - come publicly available. While the book was in progress, the discussion on solidarity and mandatory pension systems became very topical, and so 1 were the results of the analyses. When the book was released in Dutch , the chapter on costs differentials between pension funds and insurance companies also drew much attention. In the early months of 2007, the political and professional debates c- tinued, with increasing attention from pension experts from abroad. This made us decide to try and arrange a translated version of the book. We were happy to find Springer Verlag, and collaborate with their enthusi- tic publisher Dr. Niels Peter Thomas. We are also grateful to the Pension Science Trust (Stichting Pensioenwetenschap) for subsidizing the trans- tion by Language Lab, and to the earlier mentioned VB for their generous collaboration in getting the international edition released.
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4 Operating costs of pension schemes
5 Optimal risksharing in private and collective pension contracts
6 Intergenerational value transfers within an industrywide pension fund a valuebased ALM analysis
7 Intergenerational solidarity in the uniform contribution and accrual system
8 Everyone gains but some more than others
Other editions - View all
accrued pension actuarially fair contribution administrative costs adverse selection behaviour Bikker calculations chapter classic ALM cohorts collective contracts collective pension schemes collective pension systems company pension funds contribution and accrual CPB Netherlands DC scheme decreasing accrual system Dutch pension economic economies of scale equity form of solidarity funding ratio future groups higher income increase indexation individual industry-wide pension funds intergenerational risk sharing intergenerational solidarity investment costs labour market less longevity risk mandatory participation Netherlands OECD operating costs partner’s pension partnered pension accrual pension basis pension benefit pension contracts pension rights pension savings pension sector percentage portfolio premium redistribution result retirement pension risk solidarity sion sion funds social solidariteit standard variant Statistics Netherlands subsidising solidarity subsidy supplementary pension tion total assets uniform contribution rate University of Amsterdam University of Tilburg value transfers wage WRR study young Zoetermeer