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The advantages and disadvantages of different pension system designs

In: Public or Private Goods?

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  • Ian Koetsier

Abstract

This chapter provides an overview of the advantages and disadvantages of different pension system designs. The public unfunded pillar and private funded pillar are affected in different directions when some economic shocks occur, even though they do face some of the same risks. They are not equally exposed to demographic change or turmoil in the financial markets. Pensions have a very long time-horizon. This makes it impossible to predict which risks will materialize and which will not. Therefore, this chapter concludes that a multi-pillar system facilitates maximal risk sharing as adverse outcomes in one pillar could be balanced by another pillar.

Suggested Citation

  • Ian Koetsier, 2017. "The advantages and disadvantages of different pension system designs," Chapters, in: Brigitte Unger & Daan van der Linde & Michael Getzner (ed.), Public or Private Goods?, chapter 5, pages 77-94, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:17233_5
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    Cited by:

    1. I. Koetsier & J.A. Bikker, 2018. "Herding behavior of Dutch pension funds in asset class investments," Working Papers 18-04, Utrecht School of Economics.
    2. I. Koetsier & J.A. Bikker, 2018. "Herding behavior of Dutch pension funds in asset class investments," Working Papers 18-04, Utrecht School of Economics.

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    Keywords

    Economics and Finance;

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