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Pension FundsRetirement-Income Security and Capital Markets: An International Perspective$
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E. Philip Davis

Print publication date: 1998

Print ISBN-13: 9780198293040

Published to Oxford Scholarship Online: March 2012

DOI: 10.1093/acprof:oso/9780198293040.001.0001

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(p.1) Introduction
Pension Funds

E. Philip Davis

Oxford University Press

Because of lower fertility and the various advances in terms of medicine, the number of people over 60 will have raisen from 500 million in 1990 to about 1.4 billion in 2030. If seen on a global scale, the issue of population ageing may give rise to various economic problems. As compared to when life expectancy was still relatively low, a large portion of the population will have claims to a share of a particular output in spite of not being about to provide labour sufficient enough to maintain their incomes. One of the major issues in both advanced and Third World countries will then involve how to organize this type of system while retaining economic growth and efficiency. In taking the political and financial risks into account, the resulting option as well as its consequences for pension fund development will significantly affect the financial system's structure.

Keywords:   fertility, medical advances, pension funds, income, labour, financial system

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