What We Know and What We do not Know about the Willingness to Provide Self-Financed Old-Age Insurance

  • Axel Börsch-Supan
Chapter

Abstract

The point of departure for this chapter is the current flurry of pension reforms in Europe, actually, around the world. The reason for these reforms are well known, and it is no surprise that they are particularly debated in Europe: of the world regions, Europe has the highest proportion of population aged 65 or over (NAS, 2001). Within Europe (and hence in the world), Italy has the highest proportion of people aged 65 or over (18% in 2000), but Belgium, Sweden and Greece also score very high (17% or more). Outside Europe, only Japan has a similar age structure (about 17% of the population is 65 or over). In Europe, the ratio of persons aged over 65 as a percentage of the working age population 20–64 (the dependency ratio), is expected to increase from about 27% in 2000 to 39% in 2025, and to 53% in 2050 (European Commission, 2000). This increase of the dependency ratio in itself places a heavy financial burden on society.

Keywords

Saving Rate Pension System Public Pension Private Saving Pension Reform 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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© Springer Science+Business Media Dordrecht 2001

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  • Axel Börsch-Supan

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