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The Welfare State as Piggy BankInformation, Risk, Uncertainty, and the Role of the State$
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Nicholas Barr

Print publication date: 2001

Print ISBN-13: 9780199246595

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0199246599.001.0001

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Twenty‐First‐Century Pensions Issues

Twenty‐First‐Century Pensions Issues

(p.144) Chapter 9 Twenty‐First‐Century Pensions Issues
The Welfare State as Piggy Bank

Nicholas Barr (Contributor Webpage)

Oxford University Press

Two sets of issues will become increasingly salient. The first part of the chapter discusses strategies to address population ageing, with heavy emphasis on two policies – increasing economic growth and raising the retirement age. The second part of the chapter discusses the possibility of pension design that is compatible with national and international labour mobility, fragmented family structures, and international competitive pressures. A particular question is whether it is possible to design pensions that have not only the advantages of defined‐contribution schemes (improved labour mobility) but also the advantages of defined‐benefit schemes (greater individual certainty).

Keywords:   defined benefit, defined contribution, economic growth, labour mobility, population ageing, retirement age

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