Incentive extension of pay-as-you-go pension system

Kód výsledku v 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>

Výsledek na webu

<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>

Jazyk výsledku

angličtina

Název v původním jazyce

Incentive extension of pay-as-you-go pension system

Popis výsledku v původním jazyce

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.

Název v anglickém jazyce

Incentive extension of pay-as-you-go pension system

Popis výsledku anglicky

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.

Druh

J_SC - Článek v periodiku v databázi SCOPUS

CEP obor

—

OECD FORD obor

50200 - Economics and Business

Projekt

—

Návaznosti

S - Specificky vyzkum na vysokych skolach<br>I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2019

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

Journal of International Studies

ISSN

2071-8330

e-ISSN

2306-3483

Svazek periodika

12

Číslo periodika v rámci svazku

4

Stát vydavatele periodika

PL - Polská republika

Počet stran výsledku

19

Strana od-do

195-213

Kód UT WoS článku

—

EID výsledku v databázi Scopus

2-s2.0-85077576212