Abstract
Retirement systems across the world are undergoing major reforms to adapt to continuously changing economic and demographic factors. Among these major changes are the so-called notional defined contribution pension schemes (NDCs), first developed about 20 years ago in countries such as Italy, Latvia, Poland and Sweden. These pension schemes attempt to reproduce the logic of a financial defined contribution pension plan within a pay-as-you-go framework. Among the countries with NDCs, Sweden is the only one where an automatic balancing mechanism goes hand in hand with the prior calculation of a financial solvency indicator that emerges from an actuarial balance sheet. This chapter describes the Swedish pension experience over the 2007-2015 period through its accounting method, together with the problems faced by the system and the policy responses.
| Original language | English |
|---|---|
| Title of host publication | Economic Challenges of Pension Systems |
| Subtitle of host publication | A Sustainability and International Management Perspective |
| Publisher | Springer |
| Chapter | 11 |
| Pages | 235-254 |
| Number of pages | 20 |
| ISBN (Electronic) | 9783030379124 |
| ISBN (Print) | 9783030379117 |
| DOIs | |
| Publication status | Published - 21 Mar 2020 |
Keywords
- Accounting
- Balancing mechanism
- Public pensions
- Retirement
- Solvency
- Sweden
- Pension Sustainability
- Pension Reforms
- PAYG Systems
- French Mandatory Occupational Pension Scheme
- Swedish Public Pension System
- Pension Reforms in Latin America
- Welfare in Advanced Economies
- Financial Sustainability of Pension Systems
- Pay-As-You-Go Pension Finance
- Mixed Two-Step Pension System
- SIEFOREs
- sustainability
- household finance
ASJC Scopus subject areas
- General Economics,Econometrics and Finance
- General Business,Management and Accounting