Public debt and pension policy

Article Abstract:

The method of government financing of state pensions affects the public sector borrowing requirement, the statistics for which can be more enlightening if the details of pension policy are investigated. The two main methods of funding pensions are the cash flow system, whereby supplementary pensions are taxed on a consumption-tax basis, or the prepayment method, whereby premiums are not tax-deductable. Under the cash flow system, the government is providing a loan to the public sector, is purchasing a share of the pension funds and is forced to borrow more on capital markets. Its advantages are that it gives better insulation against demographic changes and yields a smaller income tax base.

Pension funds, National debt, Public debts

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European pension systems: a simulation analysis

Article Abstract:

A dynamic programming framework based on the household decision-making concept can be used in evaluating Europe's pension systems. The late retirement in Finland and early retirement in France are proven to be correlated with lower savings. This is due to the non-linear response of savings to the changes in the retirement age. Welfare can be significantly decreased by the interaction of borrowing constraints and high replacement rations, such as those seen in Italy and Spain.

Employer Pension & Welfare Suppl, Europe, Social policy, Pensions, Retirement

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The regulation of product quality in the public utilities and the citizen's charter

Article Abstract:

Too much emphasis has been placed on pricing policies of former public utilities that have now been privatised and the subsequent consideration of quality in the regulation of monopolies is a positive step. It is claimed that too much emphasis was formerly put on quality before privatisation, but the fact that standards did not fall as a result of privatisation indicates otherwise. Quality standards should be set in accordance of consumer demands.

Production management, Evaluation, Product quality, Municipal services

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