Incentive extension of pay-as-you-go pension system
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F04274644%3A_____%2F19%3A%230000543" target="_blank" >RIV/04274644:_____/19:#0000543 - isvavai.cz</a>
Result on the web
<a href="https://www.jois.eu/files/13_790_Mertl%20et%20al.pdf" target="_blank" >https://www.jois.eu/files/13_790_Mertl%20et%20al.pdf</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.14254/2071-8330.2019/12-4/13" target="_blank" >10.14254/2071-8330.2019/12-4/13</a>
Alternative languages
Result language
angličtina
Original language name
Incentive extension of pay-as-you-go pension system
Original language description
Pension systems have been expecting projected deficits and governments have been under pressure to increase the statutory retirement age. Fully funded pension system pillars have significant limitations, the recent attempts to adapt social insurance systems have not provided plausible results and empirically have not had strong political support to be fully implemented. Therefore, we created an incentive-based pension system extension that enables a gradual transition to a merit-based pay-as-you-go system. We present a mathematical model based on virtual accumulation of resources that works with full working, relaxed and retired phases, based on the individual decision when to enter them. We present calculations based on the parameters that are valid in the Czech Republic, but the model is designed as a general one, therefore the model variables can be adjusted according to parameters in any country withpublic pension system. Then we discuss the implications and possibilities related to the model, also in the context of changes that we see in the labour market, behavioural patterns of the older generation and the socioeconomic development in the 21st century.
Czech name
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Czech description
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Classification
Type
J<sub>SC</sub> - Article in a specialist periodical, which is included in the SCOPUS database
CEP classification
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OECD FORD branch
50200 - Economics and Business
Result continuities
Project
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Continuities
S - Specificky vyzkum na vysokych skolach<br>I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace
Others
Publication year
2019
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
Journal of International Studies
ISSN
2071-8330
e-ISSN
2306-3483
Volume of the periodical
12
Issue of the periodical within the volume
4
Country of publishing house
PL - POLAND
Number of pages
19
Pages from-to
195-213
UT code for WoS article
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EID of the result in the Scopus database
2-s2.0-85077576212