Costs and Benefits of Collective Pension Systems

ISBN 10: 3540743731 / ISBN 13: 9783540743736

Editore: Springer, 2007

Codice articolo ABLIING23Mar3113020176145

Riassunto:

Recommended by Nobel Laureate Robert C. Merton, this book offers the world a first-hand opportunity to learn why the Dutch pension system is so often praised and how it operates. The book also discusses aspects of the system that are less favorable, such as implicit value transfers from younger to older generations that limit mobility of labor. Throughout the discussions, the authors provide quantitative evidence to support their assertions.

Dalla quarta di copertina:

The Dutch pension system is often praised as one of the best in the world: it is efficient, it provides certainty to participants and it preserves cohesion and solidarity among workers and pensioners. This book presents these benefits in detail, supported by quantitative evidence. It also discusses the aspects of the system that are less favourable, however, such as implicit value transfers from younger to older generations that limit mobility of labour. The analyses of both benefits and costs will help pension fund managers, boards of trustees, supervisors, and researchers to understand and to improve pension systems currently in place around the world.

Steenbeek and Van der Lecq have assembled a rich combination of academic and practitioner chapters on the functions and dysfunctions of a collective pension system. These analyses carefully identify both the risk-sharing and value-transfer elements of the system and offer a powerful methodology for evaluating each and providing a systematic and objective means to evaluate such systems. Whether novice student or seasoned professional of collective pension issues, this work is a "must have" on the subject.
Robert C. Merton
John and Natty McArthur University Professor, Harvard Business School
Chief Science Officer, Trinsum Group

"The Dutch are the globe s thought-leaders in the design and implementation of retirement income systems. This book offers the rest of the world a first-hand opportunity to learn why this is the case."
Keith Ambachtsheer, University of Toronto
Director, Rotman International Centre for Pension Management

"The Dutch experience, which this book so helpfully lays out, gives the rest of the world a model that is quite distinct from either the disappearing single-employer defined benefit approach and the rising individualistic defined contribution approach.  That experience and this book challenge anyone interested in policies for lifetime financial security to consider systemic progress rather than ad hoc patches."
Brett Hammond
Senior Managing Director & Chief Investment Strategist TIAA-CREF Asset Management

"The Dutch think long and hard before adopting changes to their well-designed pension system. By contrast, the emergence of the individualistic 401(k) as the primary retirement income vehicle in the United States was clearly haphazard. Policymakers interested in improving our accidental pension system have much to learn from this volume, which shows the benefits of a more considered and collective approach."
Alicia Munnell, Peter F. Drucker Professor of Management Sciences, Boston College Director, Center for Retirement Research, Carroll School of Management

"The reorganisation of pension systems is one of the great challenges we are facing today. This impressive collection of studies offers the specialist reader a comprehensive overview of the current debate."
Bert Rürup, Darmstadt University of Technology
Chairman, German Council of Economic Experts

Dati bibliografici

Titolo: Costs and Benefits of Collective Pension ...
Casa editrice: Springer
Data di pubblicazione: 2007
Legatura: Rilegato
Condizione: New