Incentive extension of pay-as-you-go pension system

@article{7943,
   author = {Mertl, Jan and Mihola, Jiří and Valenčík, Radim},
   article_location = {Poland},
   article_number = {4},
   doi = {http://dx.doi.org/10.14254/2071-8330.2019/12-4/13},
   keywords = {human capital; pension insurance; extension of pension insurance; voluntary pension pillar; active ageing},
   language = {eng},
   issn = {2071-8330},
   journal = {Journal of International Studies},
   note = {návaznost obojí},
   title = {Incentive extension of pay-as-you-go pension system},
   url = {https://www.jois.eu/files/13_790_Mertl%20et%20al.pdf},
   volume = {12},
   year = {2019}
}

TY  - JOUR
ID  - 7943
AU  - Mertl, Jan - Mihola, Jiří - Valenčík, Radim
PY  - 2019
TI  - Incentive extension of pay-as-you-go pension system
JF  - Journal of International Studies
VL  - 12
IS  - 4
SP  - 195-213
EP  - 195-213
PB  - Centre of Sociological Research
SN  - 20718330
N1  - návaznost obojí
KW  - human capital
KW  - pension insurance
KW  - extension of pension insurance
KW  - voluntary pension pillar
KW  - active ageing
UR  - https://www.jois.eu/files/13_790_Mertl%20et%20al.pdf
L2  - https://www.jois.eu/files/13_790_Mertl%20et%20al.pdf
N2  - Pension systems have been expecting projected deficits and governments have been under pressure to increase the statutory retirement age. Fully funded pension system pillars have significant limitations, the recent attempts to adapt social insurance systems have not provided plausible results and empirically have not had strong political support to be fully implemented. Therefore, we created an incentive-based pension system extension that enables a gradual transition to a merit-based pay-as-you-go system. We present a mathematical model based on virtual accumulation of resources that works with full working, relaxed and retired phases, based on the individual decision when to enter them. We present calculations based on the parameters that are valid in the Czech Republic, but the model is designed as a general one, therefore the model variables can be adjusted according to parameters in any country withpublic pension system. Then we discuss the implications and possibilities related to the model, also in the context of changes that we see in the labour market, behavioural patterns of the older generation and the socioeconomic development in the 21st century.
ER  - 

MERTL, Jan, Jiří MIHOLA a Radim VALENČÍK. Incentive extension of pay-as-you-go pension system. Online. \textit{Journal of International Studies}. Poland: Centre of Sociological Research, 2019, roč.~12, č.~4, s.~195-213. ISSN~2071-8330. Dostupné z: https://dx.doi.org/10.14254/2071-8330.2019/12-4/13. [citováno 2024-04-24]