The Experts below are selected from a list of 141 Experts worldwide ranked by ideXlab platform

Holly Sutherland - One of the best experts on this subject based on the ideXlab platform.

  • the financial well being of elderly people in europe and the redistributive effects of Minimum Pension schemes
    Social Science Research Network, 2013
    Co-Authors: Francesco Figari, Manos Matsaganis, Holly Sutherland
    Abstract:

    This study analyses the financial well-being of elderly people across Europe. Using the European microsimulation model EUROMOD, which facilitates the identification of Minimum Pension schemes in a comparable way across countries, we gather together new empirical findings on the redistributive effects of the Minimum Pension schemes in a range of European countries. In particular, we quantify the extent to which these schemes contribute to alleviate elderly poverty across Europe. Nevertheless, the financial well-being of older people depends crucially on the Pension system as a whole. Countries with generous Minimum Pension schemes seem to allocate relatively fewer resources to other pillars of the Pension system. On the one hand, they are more effective in reducing elderly poverty rates. On the other hand, they fail to ensure a level of financial well-being of older people in line with the overall population.

  • the financial well being of older people in europe and the redistributive effects of Minimum Pension schemes
    Research Papers in Economics, 2011
    Co-Authors: Francesco Figari, Manos Matsaganis, Holly Sutherland
    Abstract:

    This study analyses the financial well-being of elderly people across Europe. Using the European microsimulation model EUROMOD, which facilitates the identification of Minimum Pension schemes in a comparable way across countries, we show the extent to which these schemes serve to reduce the risk of poverty among elderly. The main findings show that there is a strong correlation between the resources allocated to the Minimum Pension schemes and the reduction in poverty risk among the elderly. Nevertheless, the financial well-being of older people depends crucially on the Pension system as a whole. Countries with generous Minimum Pension schemes seem to allocate relatively fewer resources to other pillars of the Pension system. On the one hand, they are more effective in reducing elderly poverty rates. On the other hand, they fail to ensure a level of financial well-being of older people in line with the overall population.

  • the effect of Minimum Pension schemes and recent reforms to them on the financial well being of older people
    2009
    Co-Authors: Francesco Figari, Manos Matsaganis, Holly Sutherland
    Abstract:

    Public Pensions account for the greater part of the income of those aged 65 and older in all EU countries. In countries with significant flat-rate schemes and modest second-tier Pensions (Denmark, Sweden, the UK, Ireland and the Netherlands), they are distributed more or less equally across income groups, while they favour higher income groups in countries where Pensions are predominantly earnings related (Austria, France, Germany and the south European countries).

  • microsimulation of social policy in the european union case study of a european Minimum Pension
    Economica, 2002
    Co-Authors: Tony Atkinson, Holly Sutherland, Francois Bourguignon, Cathal Odonoghue, Francesca Utili
    Abstract:

    While policies to eliminate poverty remain the responsibility of member states, the European Union may have a role to play in setting Minimum standards. This paper explores the implications of a European Minimum Pension. A prototype Europe–wide tax benefit microsimulation model is used to examine the distributional impact of the reform, asking how far such a policy is ‘targeted’ on the poorest Pensioners. We conclude that the formulation of policy for the protection of Europe’s poorest people requires an appreciation not only of the situation of this group, but also of the assumptions that have been used to identify it.

  • microsimulation and policy debate a case study of the Minimum Pension guarantee in britain
    Research Papers in Economics, 1998
    Co-Authors: Anthony B Atkinson, Holly Sutherland
    Abstract:

    This paper is concerned with the relationship between microsimulation models and policy debate. It seeks to highlight some of the ways in which these models can contribute to debate, both in answering questions and in posing new ones. As an illustration, the authors consider a case study of the Minimum Pension guarantee, which has been proposed as a reform of the state Pension system in the UK.

Tapen Sinha - One of the best experts on this subject based on the ideXlab platform.

  • the cost of Minimum Pension guarantee
    Social Science Research Network, 2005
    Co-Authors: Tapen Sinha, Alejandro Renteria
    Abstract:

    We model Minimum Pension guarantee using a simulation approach. Lachance and Mitchell (2002) have shown that it could be important if and when individual accounts are introduced in the United States. We model ours with real data from Mexico where individual accounts are already a reality and the Minimum Pension guarantee is already enshrined by law. We calculate the probability of the government needing to honor the guarantee and estimate the cost of such a promise using a real options approach. Higher investment in the stock market turns out to be the key. The higher the proportion of investment allowed by law in stocks, the lower the probability of government support.

Carlos Vidalmelia - One of the best experts on this subject based on the ideXlab platform.

  • does the Pension system s income statement really matter a proposal for an ndc scheme with disability and Minimum Pension benefits
    Economic Research-Ekonomska Istraživanja, 2020
    Co-Authors: Anne Marie Garvey, Manuel Venturamarco, Carlos Vidalmelia
    Abstract:

    This paper develops an accounting model for monitoring the solvency of a notional defined contribution (NDC) Pension scheme with disability and Minimum Pension benefits. Using the annual report of ...

  • does the Pension system s income statement really matter a proposal for an ndc scheme with disability and Minimum Pension benefits
    2019
    Co-Authors: Anne Marie Garvey, Manuel Venturamarco, Carlos Vidalmelia
    Abstract:

    This paper develops a full accounting model for monitoring the solvency of a notional defined contribution (NDC) Pension scheme with disability and Minimum Pension benefits. Using the annual report of the Swedish Pension system as a benchmark (TSPS, 2018), we extend the “Swedish” actuarial balance developed by Perez-Salamero et al. (2017) by adding an income statement which fully explains the reasons behind the changes in the system’s solvency by type of benefit. In line with the reference model, assets and liabilities are measured at present value at each reporting date, and changes in present value are reported in each period as income or expenses and are included on the income statement. Our proposed model is a step forward because it, also, incorporates the changes for disability Pensions, the value of change in the discount rate and the explicit recognition of non-contributory rights (NCRs) into the Income statement. This accounting framework integrates both contributory and social aspects of public Pensions and discloses the real cost of the disability contingency and the redistribution through Minimum Pensions. The paper contains a numerical example consisting of an income statement for a (fictional) already-functioning system to illustrate the main differences between the Swedish NDC scheme and our model. Mathematical details are presented in a comprehensive technical appendix.

  • a swedish actuarial balance for a notional defined contribution Pension scheme with disability and Minimum Pension benefits
    International Social Security Review, 2017
    Co-Authors: Juan Manuel Perezsalamero Gonzalez, Manuel Venturamarco, Carlos Vidalmelia
    Abstract:

    This article proposes a “Swedish” type actuarial balance sheet (ABS) for a notional defined contribution (NDC) scheme with disability and Minimum Pension benefits. The proposed ABS splits the Pension system in two parts: the pure NDC part and the redistributive part, which includes the assets and liabilities originating from non-contributory rights. The article contains a numerical example that sheds light on the real applicability of our proposal. The model has practical implications that could be of interest to policy-makers, given that it integrates actuarial and social aspects of public Pensions and discloses the real cost of redistribution through Minimum Pensions.

Adem Yavuz Elveren - One of the best experts on this subject based on the ideXlab platform.

  • a Minimum Pension guarantee application for the individual Pension system in turkey a gendered approach
    Journal of Women Politics & Policy, 2014
    Co-Authors: Sule Sahin, Adem Yavuz Elveren
    Abstract:

    This study examines the Minimum Pension guarantee (MPG), a promise by government or Pension fund management that at retirement, a person's annuitized benefit will be above a prespecified Minimum level. For the first time, we use an actuarial model to discuss the role of MPG in lessening the gender gaps in Pension incomes in the Individual Pension System of Turkey. Our results reveal that women would be more likely than men to receive Pension subsidies and would require larger Pension subsidies for every combination of investment decision and years of Pension participation if MPGs were implemented.

  • assessing a Minimum Pension guarantee for the voluntary ips in turkey assessing a Minimum Pension guarantee for the voluntary ips in turkey
    International Social Security Review, 2011
    Co-Authors: Sule Sahin, Adem Yavuz Elveren
    Abstract:

    The returns from individual account Pension plans are subject to fluctuations in capital markets. This increases income uncertainty for the beneficiary and exposes individuals to the risk of fluctuations in the economy in general and the stock market in particular. A Minimum Pension guarantee is a way to avoid this pitfall by providing a Minimum annuity regardless of the actual investment performance of individual accounts. In this article, we present a cost analysis of a Minimum benefit guarantee mechanism for the voluntary Individual Pension System in Turkey. We examine the cost estimates and the probability of providing guaranteed payments under various economic and demographic assumptions.

  • a cost analysis of a Minimum Pension guarantee for the individual Pension system in turkey
    Research Papers in Economics, 2009
    Co-Authors: Sule Sahin, Adem Yavuz Elveren
    Abstract:

    The returns from individual accounts in Pension schemes are subject to fluctuations in capital markets. This increases income uncertainty for the beneficiary and exposes individuals to the risk of fluctuations in the economy in general, and of the stock market in particular. This fact has recently gotten considerable attention from policymakers. A Minimum Pension guarantee is a way to avoid this pitfall by providing a Minimum annuity regardless of the actual investment performance of individual accounts. In this study, we present a cost analysis of a Minimum benefit guarantee mechanism for the Individual Pension System in Turkey, a privately managed defined contribution scheme which was introduced in 2003 as a complement to the traditional pay-as-you-go system. We examine the cost estimates and the probability of guaranteed payoffs under various economic and demographic assumptions.

Alejandro Renteria - One of the best experts on this subject based on the ideXlab platform.

  • the cost of Minimum Pension guarantee
    Social Science Research Network, 2005
    Co-Authors: Tapen Sinha, Alejandro Renteria
    Abstract:

    We model Minimum Pension guarantee using a simulation approach. Lachance and Mitchell (2002) have shown that it could be important if and when individual accounts are introduced in the United States. We model ours with real data from Mexico where individual accounts are already a reality and the Minimum Pension guarantee is already enshrined by law. We calculate the probability of the government needing to honor the guarantee and estimate the cost of such a promise using a real options approach. Higher investment in the stock market turns out to be the key. The higher the proportion of investment allowed by law in stocks, the lower the probability of government support.