Financial Stability and Individual Benefits in the Swedish Pension Reform Model

• Autorzy: Edward Palmeri
• Języki publikacji: EN

Abstrakty

EN

During the course of the 1990s, Sweden replaced a universal flat-rate folkpen-sion combined with an earnings-related defined benefit, ATP, (allmän tilläggspension) with a system comprising a universal, mandatory notional defined contribution (NDC) pay-as-you-go and a financial defined contribution (FDC) scheme, supplemented with a guarantee for the lifetime poor. The guarantee can be claimed the earliest at age 65, and like all other non-contributory rights must be financed with general tax revenues, i.e., with revenues from outside the insurance system itself. With the changes introduced in the 1990s, Sweden now has a stable system that provides adequate benefits and can be trusted by future generations of workers and pensioners. The main ideas of the reform were published in 1992, and the first legislation was passed in 1994, with detailed proposals for the new system.(...) This paper focuses on the main ideas underlying the NDC component of the new public scheme, but also includes a brief description of how the public FDC and the contractual supplements covering about 80% of Swedish employees fit into the overall benefit picture for the average worker. (fragment of text)

Słowa kluczowe

EN

Financial sustainability; Pension schemes; Pension system reform

PL

Stabilność finansowa; System emerytalny; Reforma systemu emerytalnego

• Czasopismo: Emergo. Journal of Transforming Economies and Societies
• Rocznik: 2002
• Tom: 9
• Numer: nr 1
• Strony: 50--60

Twórcy

autor

Edward Palmeri

• Uppsala University, Sweden

Bibliografia

• Fox, L. and Palmer, E. (1999) "Latvian Pension Reform". Social Protection Discussion Paper No. 9922. Washington DC: The World Bank
• Fox, L. and Palmer, E. (2001) "New Approaches to Multi-pillar Pension Systems: What in the World is Going On?" in J. Stiglitz et al. (eds) New Ideas about Old Age Security. The World Bank. Chicago: University of Chicago Press
• Göra, M. and Palmer, E. (2001) "Shifting Perspectives in Pensions". CASE Working Paper. Warsaw
• Palmer, E. (1999a) "Individual Decisions and Aggregate Stability in the NDC System", mimeo
• Palmer, E. (1999b) "Exit from the Labor Force of Older Workers: Can the NDC Pension System Help?" in The Geneva Papers on Risk and Insurance 24 (October): 461-72
• Palmer, E. (2000). "The Swedish Pension Reform Model: Framework and Issues". Pension Reform Primer Series, Social Protection Discussion Paper No. 0012. Washington DC: The World Bank
• Palmer, E. (2001) "Swedish Pension Reform - How Did it Evolve and What Does it Mean for the Future?" in M. Feldstein and H. Siebert (eds) Coping with the Pension Crisis: Where Does Europe Stand? Chicago: University of Chicago Press
• Palmer, E. (2001) "The Evolution of Public and Private Insurance in Sweden during the 1990s" in Xenia Scheil-Adlung (ed.) Building Social Security: The Challenge of Privatisation. International Social Security Association, Vol. 6. New Brunswick (US) and London: Transaction Publishers
• Settergren, O. (2001) "The Automatic Balancing Mechanism of the Swedish Pension System -a Non-technical Introduction". Wirtschaftspolitische Blätter 4