Abstract
A social policy is said to be temporally inconsistent if unanticipated changes occur in circumstances that were foreseeable at the time of its formulation and implementation. The temporal consistency of pension systems is considered essential to achieve socially desirable goals as it offers individuals and institutions a stable framework for the future planning of their decisions on consumption, savings, the labor market, and retirement. In this paper we analyze the impact of demographic trends on the equilibrium of the intergenerational social contract, discuss the importance of temporal consistency in the management of pension systems and present the general features of a structural reform of pension systems.
Translated title of the contribution | Pensions reform and intertemporal consistency of social protection |
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Original language | Portuguese |
Title of host publication | A Economia numa Perspectiva Interdisciplinar |
Editors | Lucca Simeoni Pavan |
Place of Publication | Ponta Gross, PR |
Publisher | Atena |
Pages | 75-91 |
Volume | 2 |
ISBN (Electronic) | 978-85-7247-983-7 |
DOIs | |
Publication status | Published - 19 Feb 2020 |
Keywords
- Pension systems
- Intertemporal consistency
- Social policy
- Aging