Pension - Knowledge (XXG)

1869: 982:, have shifted to a tiered system. For a simplified example, suppose there are three employees that pay into a state pension system: Sam, Veronica, and Jessica. The state pension system has three tiers: Tier I, Tier II, and Tier III. These three tiers are based on the employee's hire date (i.e. Tier I covers 1 January 1980 (and before) to 1 January 1995, Tier II 2 January 1995 to 1 January 2010, and Tier III 1 January 2010 to present) and have different benefit provisions (e.g. Tier I employees can retire at age 50 with 80% benefits or wait until 55 with full benefits, Tier II employees can retire at age 55 with 80% benefits or wait until 60 for full benefits, Tier III employees can retire at age 65 with full benefits). Therefore, Sam, hired in June 1983, would be subject to the provisions of the Tier I scheme, whereas Veronica, hired in August 1995, would be permitted to retire at age 60 with full benefits and Jessica, hired in December 2014, would not be able to retire with full benefits until she became 65. 2522:. To do so, it implies a permanent increase in the working age of for instance 2% and to decrease the number of retirees of an equivalent amount. For this last step, it is tantamount to decrease global real pensions by a certain number of GDP point. In order to find this precise number for the simulation, we can assume people live on average 80 years, study during 20 years and are retirees during 20 years. As a consequence, an increase of 2% for life expectancy at work amounts to a decrease of 4% for life expectancy in retirement. Real pensions make globally a certain percentage of the GDP according to the country chosen. By knowing it, you can finally find the certain number of GDP point to simulate the decrease of number of retirees. For instance, in France real pensions make globally around 15% of GDP. Finally, -4% of 15% makes a decrease of 0.6 of GDP point. 1764: 1168:

paid into an individual account for each member. The contributions are invested, for example in the stock market, and the returns on the investment (which may be positive or negative) are credited to the individual's account. On retirement, the member's account is used to provide retirement benefits, sometimes through the purchase of an annuity which then provides a regular income. Defined contribution plans have become widespread all over the world in recent years, and are now the dominant form of plan in the private sector in many countries. For example, the number of defined benefit plans in the US has been steadily declining, as more and more employers see pension contributions as a large expense avoidable by disbanding the defined benefit plan and instead offering a defined contribution plan.

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collecting? Employers have sought ways of getting round this problem through pre-funding, but in civil-law countries have often been limited by the legal vehicles available. A suitable legal vehicle should ideally have three qualities. First, it should convince employees that the assets are truly secured for their benefit. Second, contributions to the vehicle should be tax-deductible to the employer (or at least, a tax deduction should be secured already). And third, to the extent that it has funded the pension liability, the employer should be able to reduce the liability shown on its balance sheet.

2036:, the federal agency that insures private-sector defined-benefit pension plans in the event of bankruptcy), testified before a Congressional hearing in October 2004, "I am particularly concerned with the temptation, and indeed, growing tendency, to use the pension insurance fund as a means to obtain an interest-free and risk-free loan to enable companies to restructure. Unfortunately, the current calculation appears to be that shifting pension liabilities onto other premium payers or potentially taxpayers is the path of least resistance rather than a last resort." 2211:, answers the aim to prevent the poverty of the elderly, provide some absolute, minimum income based on solidarity and replace some portion of lifetime pre-retirement income. It is financed on a redistributive principle without constructing large reserves and takes the form of mandatory contributions linked to earnings such as minimum pensions within earnings-related plans, or separate targeted programs for retirement income. These are provided by the public sector and typically financed on pay-as-you-go basis. 936:(RPI)) as required by law for registered pension plans. Inflation during an employee's retirement affects the purchasing power of the pension; the higher the inflation rate, the lower the purchasing power of a fixed annual pension. This effect can be mitigated by providing annual increases to the pension at the rate of inflation (usually capped, for instance at 5% in any given year). This method is advantageous for the employee since it stabilizes the purchasing power of pensions to some extent. 6366: 59: 1149:

retirement age and lifespan of the employees, the returns to be earned by the pension plan's investments and any additional taxes or levies, such as those required by the Pension Benefit Guaranty Corporation in the U.S. So, for this arrangement, the benefit is relatively secure but the contribution is uncertain even when estimated by a professional. This has serious cost considerations and risks for the employer offering a pension plan.

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trustees act in the best interests of the beneficiaries. These jurisdictions account for over 80% of assets held by private pension plans around the world. Of the $ 50.7 trillion of global assets in 2019, $ 32.2T were in U.S. plans, the next largest being the U.K. ($ 3.2T), Canada ($ 2.8T), Australia ($ 1.9T), Singapore ($ 0.3T), Hong Kong and Ireland (each roughly $ 0.2T), New Zealand, India, Kenya, Nigeria, Jamaica, etc.

2086:, due to lower wages and career breaks, are also factors contributing to the gender pension gap. Furthermore, individual and occupational pensions are often based on actuarial equity, which penalises women with gender-differentiated rates. Finally, cultural and behavioural factors, such as lack of access to education and gender expectations, can also contribute to the gender pay gap and the gender pension gap. 862:

The risk and responsibility of ensuring sufficient funding through retirement is borne by the employer or plan managers. This type of plan provides a level of financial security for retirees, ensuring they will receive a specific amount of income throughout their retirement years. However this income is not usually guaranteed to keep up with inflation, so its purchasing power may decline over the years.

1889: 1075: 2550: 2386:, it is about 300 billion euros each year, namely 14-15% of French GDP. It is therefore very interesting and informative to illustrate the impacts of these different channels to finance the retirement pension, especially nowadays since many riots take place in different countries against new retirement pension reforms or willing to change the national retirement pension process. 1650:

session, Parliament established disability payments or "reliefe for Souldiours ... adventured their lives and lost their limbs or disabled their bodies" in the service of the Crown. This pension was again generous by contemporary standards, even though annual pensions were not to exceed ten pounds for "private soldiers", or twenty pounds for a "lieutenant".

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risks to the employer is the reason given by many employers for switching from defined benefit to defined contribution plans over recent years. The risks to the employer can sometimes be mitigated by discretionary elements in the benefit structure, for instance in the rate of increase granted on accrued pensions, both before and after retirement.

2510:: the GDP decreases. Finally, the public finance balance is improved but less than planned. Indeed, employer social contribution is increased but it happens to be less than expected as unemployment rises. In addition, income tax is lower than before the shock, employee social contribution increases and unemployment benefits expenses increase. 1601:

different branches of insurance, the INP failed to ensure that pensions acted as immediate remedial measures for the old-age problem that was evident at the time. Public intervention in social insurance in Spain during these years was greatly determined by the failure of private initiatives such as the Savings and Pension Fund of Barcelona.

2535:. The competitivity is improved which lead to a job creation and the boost of economic activity. The GDP increases and this shock is therefore expansionist. Administration's financing capacity improved in the short term happens to be limited in the medium term. Indeed, the drop of prices decreases the tax bases, especially household income. 1056:. The future returns on the investments, and the future benefits to be paid, are not known in advance, so there is no guarantee that a given level of contributions will be enough to meet the benefits. Typically, the contributions to be paid are regularly reviewed in a valuation of the plan's assets and liabilities, carried out by an 1239:, and some provide for a portion of the employee's contributions to be matched by the employer. In exchange, the funds in such plans may not be withdrawn by the investor prior to reaching a certain age—typically the year the employee reaches 59.5 years old (with a small number of exceptions)—without incurring a substantial penalty. 1360: 769:

benefits upon retirement. It is a tax deferred savings vehicle that allows for the tax-free accumulation of a fund for later use as retirement income. Funding can be provided in other ways, such as from labor unions, government agencies, or self-funded schemes. Pension plans are therefore a form of "deferred compensation". A

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2010, respectively. The countries with the highest pension gender gaps are Cyprus, Germany, the Netherlands, and Austria, and 14 EU member states have a pension gender gap of at least 30%. However, Eastern European countries have a smaller pension gender gap due to less pronounced gender differences in

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is improved as imports are reduced with the drop of domestic demand. In the medium term, through the rise of unemployment, gross salary and the real labour cost progressively decreases. It results in the progressive increase of employment and thus the gradual decrease of unemployment. The household's

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Most national pension systems are based on multi-pillar schemes to ensure greater flexibility and financial security to the old in contrast to reliance on one single system. In general, there are three main functions of pension systems: saving, redistribution and insurance functions. According to the

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and the increasing number of workers who are self-employed has made it more challenging to provide retirement benefits to a growing segment of the workforce due to the fact that many of these workers do not have access to employer-sponsored pension plans, making it more difficult for them to save for

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Another growing challenge is the recent trend of states and businesses in the United States purposely under-funding their pension schemes in order to push the costs onto the federal government. For example, in 2009, the majority of states have unfunded pension liabilities exceeding all reported state

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In the U.S., average balances of retirement accounts, for households having such accounts, exceed median net worth across all age groups. For those 65 and over, 11.6% of retirement accounts have balances of at least $ 1 million, more than twice that of the $ 407,581 average (shown). Those 65 and over

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Civil-law jurisdictions with statutory trust vehicles for pensions include the Netherlands ($ 1.8T), Japan ($ 1.7T), Switzerland ($ 1.1T), Denmark ($ 0.8T), Sweden, Brazil and S. Korea (each $ 0.5T), Germany, France, Israel, P.R. China, Mexico, Italy, Chile, Belgium, Spain and Finland (each roughly $

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decreases from the short term. Indeed, the income perceived by employees is reduced following the increase of employee social contribution. As the previous channel, the drop of purchasing power result in a diminishment of consumption and demand in general. It implies a drop in activity. However, the

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falls increasing thus companies' margins which limits the degradation of investments. The drop of consumption remains higher than the increase of current account which thereby results in the decrease of GDP. The public finance balance increases following the diminishment of pension benefits spent to

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In January 2018, a "total contributions approach" qualification system was announced, effective from March 2018, for those pensioners who reached state pension age after 1 September 2012. The new system requires a person to have 40 years' worth or contributions to receive the full rate and a minimum

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Officials, judges and soldiers account for 238.4 billion EUR of the expected pension expenditure of almost 478 billion EUR. In addition, there are legacy issues from the times of large state-owned companies: the federal government has to pay out 171 billion EUR for old-age pensions for former postal

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In the absence of appropriate statute, attempts have been made to invent suitable vehicles with varying degrees of success. The most notable has been in Germany where, until the end of the 20th century, most occupational pensions were unfunded ("book-reserved") promises by employers. Changes started

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However, pension assets alone are not a useful guide to the total distribution of occupational pensions around the world. It will be noted that four of the largest economies (Germany, France, Italy and Spain) have very little in the way of pension assets. Nevertheless, in terms of typical net income

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There are many ways to finance a pension and save for retirement. Pension plans can be set up by an employer, matching a monetary contribution each month, by the state or personally through a pension scheme with a financial institution, such as a bank or brokerage firm. Pension plans often come with

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In a defined contribution plan, investment risk and investment rewards are assumed by each individual/employee/retiree and not by the sponsor/employer, and these risks may be substantial. In addition, participants do not necessarily purchase annuities with their savings upon retirement, and bear the

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Hybrid plans, such as cash balance and pension equity plans, combine features of both defined benefit and defined contribution plans. These plans have become increasingly popular in the US since the 1990s. Cash balance plans, for example, provide a guaranteed benefit like a defined benefit plan, but

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On the other hand, defined contribution plans are dependent upon the amount of money contributed and the performance of the investment vehicles used. Employees are responsible for ensuring that their contributions are sufficient to provide for their retirement needs, and they face the risk of market

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The benefits of defined benefit and defined contribution plans differ based on the degree of financial security provided to the retiree. With defined benefit plans, retirees receive a guaranteed payout at retirement, determined by a fixed formula based on factors such as salary and years of service.

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in households. In addition, women tend to be more dependent on basic pensions, which makes them more vulnerable to reductions in these kind of pensions in favour of occupational ones. Moreover, the fact that many current pension systems require a minimum of 40 years of work to build up occupational

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usage. In OECD countries, women aged 65 and over receive around 74% of men's retirement income from both public and private pension sources. The gender pension gap in OECD countries varies from 3% in Estonia to 47% in Japan. Despite some progress in some countries over the years, the gender pension

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was enacted and implemented in 1889. The Old Age Pension program, financed by a tax on workers, was originally designed to provide a pension annuity for workers who reached the age of 70 years, though this was lowered to 65 years in 1916. Unlike accident insurance and health insurance, this program

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Occupational pensions are typically provided through employment agreements between workers and employers, and their financing structure must meet legislative requirements. In common-law jurisdictions, the law requires that pensions be pre-funded in trusts, with a range of requirements to ensure the

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Despite the fact that the participant in a defined contribution plan typically has control over investment decisions, the plan sponsor retains a significant degree of fiduciary responsibility over investment of plan assets, including the selection of investment options and administrative providers.

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A defined contribution (DC) plan, is a pension plan where employers set aside a certain proportion (i.e. contributions) of a worker's earnings (such as 5%) in an investment account, and the worker receives this savings and any accumulated investment earnings upon retirement. These contributions are

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and open ended risk make defined benefit plans better suited to large employers with less mobile workforces, such as the public sector (which has open-ended support from taxpayers). This coupled with a lack of foresight on the employers part means a large proportion of the workforce are kept in the

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than defined contribution plans, even if the plan allows a lump sum cash benefit at termination. Most plans, however, pay their benefits as an annuity, so retirees do not bear the risk of low investment returns on contributions or of outliving their retirement income. The open-ended nature of these

1023:. The social security systems of many European countries are unfunded, having benefits paid directly out of current taxes and social security contributions, although several countries have hybrid systems which are partially funded. Spain set up the Social Security Reserve Fund and France set up the 884:

A Defined Benefit (DB) pension plan is a plan in which workers accrue pension rights during their time at a firm and upon retirement the firm pays them a benefit that is a function of that worker's tenure at the firm and of their earnings. In other words, a DB plan is a plan in which the benefit on

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Many countries have created funds for their citizens and residents to provide income when they retire (or in some cases become disabled). Typically this requires payments throughout the citizen's working life in order to qualify for benefits later on. A basic state pension is a "contribution based"

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built on the basis of defined benefit and defined contribution plans with independent investment management, aims to protect the elderly from relative poverty and provides benefits supplementary to the income from the first pillar to contributors. Therefore, the second pillar fulfils the insurance

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In various federal states, efforts are being made to secure pension expenditure by setting up pension funds for newly hired civil servants. Fiscal relief is, however, to be expected only when the newly hired officials retire. The share of tax revenue needed to supply for the pensions will increase

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The problem: while the government preaches private pension provision to workers, the state itself has failed to build adequate reserves for the wave of pensions in the coming years. The federal government has been trying to create a cushion since 2007. So far, however, this has amounted to only 14

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The federal government's financial statements for 2016 already show the extent of that disaster. According to this, the expected costs for pensions and subsidies for medical treatment for the number of federal civil servants at the end of 2016 will amount to 647 billion EUR over the course of the

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Caesar (63 BC–AD 14) introduced one of the first recognisable pension schemes in history with his military treasury. In 13 BC Augustus created a pension plan in which retired soldiers were to receive a pension (of minimum 3,000 denarii in a lump sum, which at the time represented around 13 times a

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Traditional defined benefit plan designs (because of their typically flat accrual rate and the decreasing time for interest discounting as people get closer to retirement age) tend to exhibit a J-shaped accrual pattern of benefits, where the present value of benefits grows quite slowly early in an

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defined benefit pension, no assets are set aside and the benefits are paid for by the employer or other pension sponsor as and when they are paid. Pension arrangements provided by the state in most countries in the world are unfunded, with benefits paid directly from current workers' contributions

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for the foreseeable future. In Canada, for instance, the annual payments were increased by some 70% in 1998 to achieve this. These two nations also have an advantage from their relative openness to immigration: immigrants tend to be of working age. However, their populations are not growing as

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Recently, the German government has come under criticism for the impending disaster posed by the exorbitant tax burden resulting from civil servants' pensions. A study, commissioned by the Taxpayers Association, that Professor Bernd Raffelhüschen of the Generation Contracts Research Center of the

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Advocates of defined contribution plans point out that each employee has the ability to tailor the investment portfolio to his or her individual needs and financial situation, including the choice of how much to contribute, if anything at all. However, others state that these apparent advantages

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One of the growing concerns with defined benefit plans is that the level of future obligations will outpace the value of assets held by the plan. This "underfunding" dilemma can be faced by any type of defined benefit plan, private or public, but it is most acute in governmental and other public

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is the iconic self-funded retirement plan that many Americans rely on for much of their retirement income; these sometimes include money from an employer, but are usually mostly or entirely funded by the individual using an elaborate scheme where money from the employee's paycheck is withheld, at

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The terms "retirement plan" and "superannuation" tend to refer to a pension granted upon retirement of the individual; the terminology varies between countries. Retirement plans may be set up by employers, insurance companies, the government, or other institutions such as employer associations or

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This non-contributory pillar was introduced only recently, aiming to alleviate poverty among the elderly, and permitting fiscal conditions. It is usually financed by the state and is in form of basic pension schemes or social assistance. In some typologies, the zero and the first pillar overlap.

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many of them offer for babies, means that women, because of the need to interrupt their working lives for maternity, are at a disadvantage compared to men when it comes to collecting pensions; which is aggravated by the fact that occupational pensions are gaining more and more weight compared to

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the average pension gender gap in the EU28 was 40.2% in 2014. This means that men aged 65–74 on average receive pensions that are 40.2% higher than those of women in the same age group. This gap is much larger than the gender pay gap (16.1%) and the annual earnings gender gap (23.0%) in 2014 and

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The history of pensions in Spain began in 1908 with the creation of the National Insurance Institute (INP) and the design of old-age pensions in a free affiliation scheme subsidised by the State. Although in 1919 the pension system was made compulsory and in 1931 an attempt was made to unify the

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limits on how much can be contributed, known as the section 415 limit. In 2009, the total deferral amount, including employee contribution plus employer contribution, was limited to $ 49,000 or 100% of compensation, whichever is less. The employee-only limit in 2009 was $ 16,500 with a $ 5,500

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of defined contribution pensions is legally no different from the portability of defined benefit plans. However, because of the cost of administration and ease of determining the plan sponsor's liability for defined contribution plans (you do not need to pay an actuary to calculate the lump sum

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The fourth pillar is usually excluded from classifications since it does not usually have a legal basis and consists of "informal support (such as family), other formal social programs (such as health care or housing), and other individual assets (such as home ownership and reverse mortgages)."

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Various reforms and adjustments have been made over time, such as the 1995 reform that established the sustainability factor and the 2011 reform that raised the retirement age from 65 to 67. Currently, the pension system in Spain is still under debate to ensure its long-term sustainability with

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A retirement plan is an arrangement to provide people with an income during retirement when they are no longer earning a steady income from employment. Often retirement plans require both the employer and employee to contribute money to a fund during their employment in order to receive defined

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Defined benefit plans are sometimes criticized as being paternalistic as they enable employers or plan trustees to make decisions about the type of benefits and family structures and lifestyles of their employees. However they are typically more valuable than defined contribution plans in most

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Holzmann, R., Hinz, R., von Gersdorff, H., Gill, I., Impavido, G., Musalem, A. R., … Subbarao, K. (2005). Old-Age Income Support in the 21st Century: An International Perspective on Pension Systems and Reform (pp. 10–10). N.W. Washington, DC, USA: The International Bank for Reconstruction and

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Simulating these economic policies is then useful to understand every mechanism linked to these channels. Four different channels to finance retirement pensions will be simulated successively and will allow to explain their impacts on main economic variables presented below with an eight-year

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These channels have been used by many governments to implement new retirement pension reforms. In the past, they had been sometimes simultaneously used (two or three channels used in the same time for a pension reform) or with a targeted way (on a certain group of persons such as in a certain

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The decline of Feudal systems and formation of national states throughout Europe led to the reemergence of standing armies with their allegiances to states. Consequently, the sixteenth century in England marked the establishment of standardised systems of military pensions. During its 1592–93

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in Germany founded a widows' fund for clergy in 1645 and another for teachers in 1662. "Various schemes of provision for ministers' widows were then established throughout Europe at about the start of the eighteenth century, some based on a single premium others based on yearly premiums to be

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to ensure that the pension fund will meet future payment obligations. This means that in a defined benefit pension, investment risk and investment rewards are typically assumed by the sponsor/employer and not by the individual. If a plan is not well-funded, the plan sponsor may not have the

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In the United States, the legal definition of a defined contribution plan is a plan providing for an individual account for each participant, and for benefits based solely on the amount contributed to the account, plus or minus income, gains, expenses and losses allocated to the account (see

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The "cost" of a defined benefit plan is not easily calculated, and requires an actuary or actuarial software. However, even with the best of tools, the cost of a defined benefit plan will always be an estimate based on economic and financial assumptions. These assumptions include the average

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Intergenerational solidarity operates to an extent in any country with a defined-benefit social security system, but is more controversial when applied to high levels of professional income. Why should younger generations pay for executive pensions which they themselves are unsure of

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Pensions, thus, represent a considerable burden for public budgets. As Professor Bernd Raffelhüschen calculated in his study in 2005, the present value of the pension burden for the federal states amounts to 1,797 billion EUR, which is larger than the Germany's total public debt.

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plans where political pressures and less rigorous accounting standards can result in excessive commitments to employees and retirees, but inadequate contributions. Many states and municipalities across the United States of America and Canada now face chronic pension crises.

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Many DB plans include early retirement provisions to encourage employees to retire early, before the attainment of normal retirement age (usually age 65). Companies would rather hire younger employees at lower wages. Some of those provisions come in the form of additional

819:". These are regular, tax-funded non-contributory cash transfers paid to older people. Over 80 countries have social pensions. Some are universal benefits, given to all older people regardless of income, assets or employment record. Examples of universal pensions include 1680:(SERPS) replaced The Graduated Pension Scheme from 1959, providing a pension related to earnings, in addition to the basic state pension. Employees and employers had the possibility to contribute to it between 6 April 1978 and 5 April 2002, when it was replaced by the 2117:

report by the World Bank titled "Averting the Old Age Crisis", countries should consider separating the saving and redistributive functions, when creating pension systems, and placing them under different financing and managerial arrangements into three main pillars.

3917:(For Average household retirement savings account balance:) Estimates of 401(k), IRA, Keogh and other defined contribution account balances based on 2019 data. Source: Employee Benefit Research Institute. . . . (For median net worth:) Source: Federal Reserve. 2185:

However, this typology is rather a prescriptive than a descriptive one and most specialists usually allocate all public programmes to the first pillar, including earnings-related public schemes, which does not fit the original definition of the first pillar.

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In the short term, this labour force shock (supply policy) leads to an increase of unemployment which negatively affects household's purchasing power. The consumption decreases along with demand in general which leads to a decrease of activity. However, the

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is improved as imports are reduced following the cut of interior demand. In the medium term, the implications are similar to the decrease of real pensions. Employment and the price index decrease. Exports increase and the drop of investments is limited. The

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for an employee upon that employee's retirement is a defined benefit plan. In the U.S., corporate defined benefit plans, along with many other types of defined benefit plans, are governed by the Employee Retirement Income Security Act of 1974 (ERISA).

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Challenges have further been increased by the post-2007 credit crunch. Total funding of the nation's 100 largest corporate pension plans fell by $ 303bn in 2008, going from a $ 86bn surplus at the end of 2007 to a $ 217bn deficit at the end of 2008.

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plan, contributions from the employer, and sometimes also from plan members, are invested in a fund towards meeting the benefits. All plans must be funded in some way, even if they are pay-as-you-go, so this type of plan is more accurately known as

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the benefit is expressed as an account balance, like a defined contribution plan. Pension equity plans are a type of cash balance plan that credits employee accounts with a percentage of their pay each year, similar to a defined contribution plan.

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Germany's mandatory state pension provisions are based on the pay-as-you-go (or redistributive) model. Funds paid in by contributors (employees and employers) are not saved and neither invested but are used to pay current pension obligations.

1258:(NEST), Germany's Riester plans, Australia's Superannuation system and New Zealand's KiwiSaver scheme. Individual pension savings plans also exist in Austria, Czech Republic, Denmark, Greece, Finland, Ireland, Netherlands, Slovenia and Spain 1444:

replacement in retirement, these countries rank well relative to those with pension assets. These and other countries represent a fundamentally different approach to pension provision, often referred to as "intergenerational solidarity".

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The Mandatory Workers' Retirement (ROO) was the first compulsory social insurance in Spain and was aimed at wage earners between the ages of 16 and 65 who earned no more than 4,000 pesetas a year. This was followed by the creation of the

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In 1921, The Finance Act introduced tax relief on pension contributions in line with savings and life insurance. As a consequence, the overall size of the fund was increased since the income tax was now added to the pension as well.

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The "cost" of a defined contribution plan is readily calculated, but the benefit from a defined contribution plan depends upon the account balance at the time an employee is looking to use the assets. So, for this arrangement, the

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in the United States are a type of defined benefit pension plan. Traditionally, defined benefit plans for employers have been administered by institutions which exist specifically for that purpose, by large businesses, or, for

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Many developed economies are moving beyond DB & DC Plans and are adopting a new breed of collective risk sharing schemes where plan members pool their contributions and to a greater or less extent share the investment and

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fast as the U.S., which supplements a high immigration rate with one of the highest birthrates among Western countries. Thus, the population in the U.S. is not ageing to the extent as those in Europe, Australia, or Canada.

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Oregon – like many other states and cities, including New Jersey, Kentucky and Connecticut – is caught in a fiscal squeeze of its own making. Its economy is growing, but the cost of its state-run pension system is growing

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from approximately 10% in 2001 in many federal states to over 20% in 2020. In the extreme case of the city-state of Hamburg, every fourth euro of income will be used to finance pensions for their retired civil servants.

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Economic uncertainty can also be a cause for worry in the near future. As of April 2023, the global economy has been volatile in recent years, and this can have a significant impact on pension plans. For example, low

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followed by approving a resolution known as Virginia Act IX of 1644 stating that "...all hurt or maymed men be relieved and provided for by the several counties, where such men reside or inhabit." Furthermore, during

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pensions could potentially be a drag on their economies unless pension systems are reformed or taxes are increased. One method of reforming the pension system is to increase the retirement age. Two exceptions are

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University of Freiburg carried out states that by 2050, the state will have to spend 1.3 to 1.4 trillion EUR to supply its civil servants. The majority of it, about 870 billion EUR, is therefore spent on pensions.

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employee's career and accelerates significantly in mid-career: in other words it costs more to fund the pension for older employees than for younger ones (an "age bias"). Defined benefit pensions tend to be less

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specifies a defined benefit plan to be any pension plan that is not a defined contribution plan (see below) where a defined contribution plan is any plan with individual accounts. A traditional pension plan that

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legionnaires' annual salary) after 16 years of service in a legion and four years in the military reserves. The retiring soldiers were in the beginning paid from general revenues and later from a special fund (

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retirees. However, unemployment benefits increase and given the drop of consumption and of household's incomes, which implies a fall in the incomes received from income tax and VAT by public administration.

648:", where defined periodic payments are made in retirement. The sponsor of the scheme (e.g. the employer) must make further payments into the fund if necessary to support these defined retirement payments, or 1658: 866:

fluctuations that could reduce their retirement savings. However, defined contribution plans provide more flexibility for employees, who can choose how much to contribute and how to invest their funds.

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This economic shock involves the permanent increase of employee social contribution by for instance 2 points. This social contribution is spent by household as a share of mass wages received by them.

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This economic shock is to permanently increase employer social contribution by for instance 2 points. This social contribution is spent by employer as a share of mass wages paid to each employee.

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horizon. Some software of macroeconomic simulation allows to compute and display them. The implementation of these economic shocks and their mechanisms will be analysed in the following sections.

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can make it more difficult for pension funds to generate returns on their investments, which can in turn lead to lower benefits for pensioners. In addition, economic downturns can lead to higher

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could also hinder some workers who might not possess the financial savvy to choose the correct investment vehicles or have the discipline to voluntarily contribute money to retirement accounts.

663:; the former is usually paid in regular amounts for life after retirement, while the latter is typically paid as a fixed amount after involuntary termination of employment before retirement. 1815:(CSRS), formed in 1920. CSRS provided retirement, disability and survivor benefits for most civilian employees in the US Federal government, until the creation of a new Federal agency, the 1580:

imposing a legal responsibility on the kin group to take care of its members who were aged, blind, deaf, sick or insane. For a discussion on pension funds and early Irish law, see F Kelly,

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Defined contribution pensions, by definition, are funded, as the "guarantee" made to employees is that specified (defined) contributions will be made during an individual's working life.

1550:

billion EUR by 2018. Professor Bernd Raffelhüschen criticised that the state had made high pension commitments for decades, "but initially didn't build up any reserves for a long time."

1251:

catch-up. These numbers usually increase each year and are indexed to compensate for the effects of inflation. For 2015, the limits were raised to $ 53,000 and $ 18,000, respectively.

4318: 3353:

trading, Full Bio Eric Whiteside is the creator of the Capitalist Fool blog He has 40+ years of experience in; investing; Whiteside, finance Learn about our editorial policies Eric.

3222: 2072:

As for the possible causes of the pension gender gap phenomenon, it is likely that women are more affected due to gender segregation in the labour market and the unequal division of

5509: 4143: 1592:

total period of paid contributions of 520 weeks with ten years' full coverage. The State Pension is payable from age 66 with the age being increased to 67 in 2021 and 68 in 2028.

1466:

In the classical world, Romans offered veteran legionnaires (centurions) military pensions, typically in the form of a land grant or a special, often semi-public, appointment.

1145:

circumstances and for most employees (mainly because the employer tends to pay higher contributions than under defined contribution plans), so such criticism is rarely harsh.

2001:

increases an ever-larger portion of the population is elderly. This leaves fewer workers for each retired person. In many developed countries this means that government and

1703: 4183: 1763: 1830:

through the 1980s; since that time, defined contribution plans have become the more common type of retirement plan in the United States and many other western countries.

636: 'payment') is a fund into which amounts are paid regularly during an individual's working career, and from which periodic payments are made to support the person's 1733:

and relaxing the stringency of minimum funding requirements for pensions while ensuring protection for insolvent businesses. In a major update of the state pension, the

745:

is to describe the payments a person receives upon retirement, usually under predetermined legal or contractual terms. A recipient of a retirement pension is known as a

1428:

Social and state pensions depend largely upon legislation for their sustainability. Some have identified funds, but these hold essentially government bonds—a form of "

3328: 2406:

are therefore dropped by 1 GDP point. In the case of France (given 14–15% of GDP corresponds to retirement pensions), this is a drop of 7.5% of mass pension benefits.

1691:

completed universal coverage of social security, introducing a State Pension for everybody on a contributory basis, with men being eligible at 65 and women at 60. The

2103:, which can result in lower contributions to pension plans. This recent period of economic uncertainty has seen a rise in self-employed workers. As such, the rise of 1490:

Modern forms of pension systems were first introduced in the late 19th century. Germany was the first country to introduce a universal pension program for employees.

3419: 3912: 3379: 2467:

decreases too. Finally, in the short term, the public finance balance increases but is quickly limited (but remains an increase) with the decrease of revenues from

3205: 2343:

Access to informal (e.g. family support), other formal social programs (e.g. health) and other individual financial and nonfinancial assets (e.g. homeownership)

3020: 898:

plan, under which the pension paid is equal to the number of years worked, multiplied by the member's salary at retirement, multiplied by a factor known as the

1475:) established by Augustus in 5 or 6 AD. This was in an attempt to quell a rebellion within the Roman Empire which was facing militaristic turmoil at the time. 778:

their direction, to be contributed by their employer to the employee's plan. This money can be tax-deferred or not, depending on the exact nature of the plan.

4412: 4335: 2892: 2244:

The third tier consists of voluntary contributions in various different forms, including occupational or private saving plans, and products for individuals.

782: 3500: 5347: 5325: 1632: 795:(commonly known as the "Bradley Commission") in 1955–56. Pensions may extend past the death of the veteran himself, continuing to be paid to the widow. 578: 2939: 6251: 3992: 1784:, and subsequently, other colonies such as Virginia, Maryland (1670s) and NY (1690s), offered the first colonial pension. The general assembly of the 1180:

risk of outliving their assets. (In the United Kingdom, for instance, it is a legal requirement to use the bulk of the fund to purchase an annuity.)

6095: 5657: 4772: 3611:

Hinrichs, Karl; Lynch, Julia F. (2021). "28 Old-Age Pensions". In Béland, Daniel; Leibfried, Stephan; Morgan, Kimberly J.; Obinger, Herbert (eds.).

2498:

is degraded and results in the drop of the purchasing power. Job losses are then attended: the unemployment strongly increases. This shock is also

6276: 944: 781:

Some countries also grant pensions to military veterans. Military pensions are overseen by the government; an example of a standing agency is the

58: 6147: 5593: 4916: 4911: 4906: 4901: 4896: 4886: 4447: 3628: 3587: 3554: 3003: 2527: 2459: 2426: 1827: 1677: 1609:

system in 1963, early retirement and the possibility of partial retirement in 1978 and the special regime for self-employed workers in 1985.

1585: 312: 4311: 6152: 5040: 4522: 2033: 933: 1826:, when wage freezes prohibited outright increases in workers' pay. The defined benefit plan had been the most popular and common type of 3763: 2414: 1816: 1567: 1318: 792: 3252: 2429:

is improved as imports decrease following the reduce of domestic demand. In the medium term, since this cut of consumption and demand,

1856:. The plan experienced low investment returns and a benefit structure that had been increased without raises in funding. According to 655:", under which defined amounts are paid in during working life, and the retirement payments are whatever can be afforded from the fund. 3099: 2845: 2680: 1417: 1343: 3978:

Costa, D. L. (1995). Pensions and retirement: Evidence from union army veterans. The Quarterly Journal of Economics, 110(2), 297-319.

6389: 5564: 5352: 5320: 4263: 4219: 2977: 2718: 1980: 1746: 1396: 1255: 1114: 1637: 1227:

toward which the funds in the retirement plan are allocated. This may range from choosing one of a small number of pre-determined

3526: 6374: 2648: 1853: 979: 975: 3354: 1961: 714:

A pension created by an employer for the benefit of an employee is commonly referred to as an occupational or employer pension.

6384: 5464: 3969:

Davies, W. E. (1948). The Mexican War veterans as an organized group. The Mississippi Valley Historical Review, 35(2), 221-238.

2670: 1812: 1613:

proposals such as the implementation of private pension plans and the revision of the conditions of access to public pensions.

1036: 886: 809: 4747: 1933: 1440:

0.2T), etc. Without the vast body of common law to draw upon, statutory trusts tend to be more uniform and tightly regulated.

6394: 6157: 5529: 5481: 4695: 4017: 2229: 1914: 1622: 1096: 1024: 770: 571: 1657:, that provided 5 shillings (£0.25) a week for those over 70 whose annual means do not exceed £31.50. It coincided with the 1370: 6245: 6137: 5549: 5097: 1872: 1758: 1216: 1176:

equivalent that you do for defined benefit plans) in practice, defined contribution plans have become generally portable.

1172: 1137: 1129: 967: 735: 4168:

OCDE (2021). "Chapter 2: Understanding the gender pension gap beyond labour market drivers through a literature review".

3904: 1940: 6326: 5499: 4550: 4299: 1692: 1479: 1311: 991: 879: 828: 645: 220: 3166: 853:. This may take the form of early entry into a retirement plan for a disabled member below the normal retirement age. 6311: 5524: 3854: 1688: 1666: 1337: 696: 4742: 1899: 4406:"Les effets macroéconomiques des leviers d'équilibrage du système de retraite à l'aide du modèle e-mod.fr de l'OFCE" 3223:"IRS Announces 2015 Pension Plan Limitations; Taxpayers May Contribute up to $ 18,000 to their 401(k) plans in 2015" 885:

retirement is determined by a set formula, rather than depending on investment returns. Government pensions such as

6240: 6122: 5598: 5050: 4650: 4492: 4405: 2799: 2608: 2544: 1947: 1804:. They were expanded greatly, and began to be offered by a number of state and local governments during the early 1797: 1531:

next ten years. That is 63 billion EUR more than in the previous year—an increase of ten percent in just one year.

4208: 1918: 1903: 1793:, otherwise known as the First Indian War, this Act was expanded to widows and orphans in Virginia's Act of 1675. 1085: 6435: 6404: 6399: 6220: 5894: 5805: 5684: 4039:. Policy Department of the European Parliament's Committee on Women’s Rights and Gender Equality. pp. 28–32. 3947: 3089: 2329:

Occupational or personal pension plans, partially or fully funded defined benefit or funded defined contribution

1654: 1515: 1499: 1254:

Examples of defined contribution pension schemes in other countries are, the UK's personal pensions and proposed

1162: 652: 564: 507: 302: 225: 1725:

was established as a cross-party body to review pensions in the United Kingdom. The first Act to follow was the

6409: 6379: 6070: 5872: 5631: 5554: 5055: 5045: 4727: 4515: 4458:

From Benefits and Beneficiaries: The Historical Origins of Old-Age Pensions From a Political Regime Perspective

3508: 3468: 1910: 1834: 1711: 1606: 1378: 1247: 1092: 185: 132: 5867: 5588: 2943: 1929: 2398:

This economic shock is to permanently decrease the amount of real pensions paid to retirees by for example 1

1519:

covered industrial, agrarian, artisans and servants from the start and was supervised directly by the state.

6336: 6215: 6117: 6055: 5494: 5381: 5315: 5228: 2659: 2613: 2495: 2422: 1699:. c. 29) formally abolished the poor law, and gave a minimum income to those not paying National Insurance. 1662: 3091:

Pension Ponzi: How Public-sector Unions are Bankrupting Canada's Health Care, Education and Your Retirement

730:

aspect, since they often will pay benefits to survivors or disabled beneficiaries. Other vehicles (certain

6190: 6142: 6112: 5949: 5917: 5907: 5724: 5709: 5689: 5571: 5342: 5337: 4612: 3127: 2464: 2399: 2315:

Occupational or personal pension plans, fully funded defined benefit or fully funded defined contribution

1796:

Public pensions got their start with various 'promises', informal and legislated, made to veterans of the

542: 419: 394: 352: 265: 6132: 6127: 6065: 6010: 5959: 5581: 5112: 5085: 4757: 4685: 2665: 2653: 1742: 1461: 1274:

There are multiple naming conventions for these plans reflecting the fact that the future payouts are a

1207: 907: 719: 2048:

The inequality between men and women in terms of pensions is a significant issue all around the world.

467: 6200: 5976: 5929: 5749: 5744: 5519: 5514: 5489: 5429: 5273: 5253: 5205: 5075: 4990: 4828: 3669:

Holborn, Hajo: A History of Modern Germany – 1840–1945: Princeton University Press; 1969; pp. 291–93.

1790: 1681: 1665:

to the completion of a system of social security, with unemployment and health insurance through the

1032: 718:, the government, or other organizations may also fund pensions. Occupational pensions are a form of 547: 517: 359: 322: 285: 4283:

Terziev, Venelin. (2019). Historical development and characteristics of pension systems. 5. 124-135.

6105: 6100: 6038: 5986: 5704: 5672: 5662: 5544: 5534: 5065: 5060: 4881: 4861: 4782: 4702: 4680: 4660: 4508: 3889: 3827: 3645: 2638: 2618: 2506:

drops, exports and companies' investment fall too. The current account drops and this shock is not

2256:

These five pillars and their main criteria are summarised in the table below by Holzmann and Hinz.

2060: 1722: 1505: 1289: 1223:. In such plans, the employee is responsible, to one degree or another, for selecting the types of 1028: 492: 487: 389: 161: 1171:

Money contributed can either be from employee salary deferral or from employer contributions. The

939:

If the pension plan allows for early retirement, payments are often reduced to recognize that the

6205: 6169: 6033: 5922: 5902: 5775: 5739: 5626: 5608: 5539: 5175: 5035: 5015: 4970: 4871: 4856: 3736:

Lynn, Theodore G.; Clarke, Blanaid J. (19 August 2010). "The Irish Corporate Governance System".

3197: 2383: 1801: 1730: 902:. The final accrued amount is available as a monthly pension or a lump sum, but usually monthly. 844: 805: 527: 414: 142: 2224:

function. In addition to DB's and DC's, other types of pension schemes of the second pillar are

1848:

type pension plan and was only partially funded by the government, with only $ 268.4 million in

3712:"Die Pensionslasten der Bundesländer im Vergleich : Status Quo und zukünftige Entwicklung" 3484: 1954: 6430: 6316: 6296: 6028: 5993: 5825: 5719: 5699: 5618: 5471: 5406: 5080: 5030: 5005: 4965: 4960: 4891: 4737: 4443: 4433: 4378: 4259: 4225: 4215: 4096: 4092: 3835: 3741: 3737: 3624: 3593: 3583: 3560: 3550: 3450: 3373: 3095: 2999: 2818: 2741: 2714: 2604: 2491: 2454: 2438: 1994: 1738: 1734: 1726: 1715: 1696: 1628: 1511: 708: 347: 332: 280: 260: 190: 147: 31: 3875: 3828:"Las primeras pensiones públicas de vejez en España. Un estudio del Retiro Obrero, 1909-1936" 3771: 2822: 2817:

Willmore, Larry (April 2003). "Universal Pensions in Mauritius: Lessons for the Rest of Us".

1235:

or other financial assets. Most self-directed retirement plans are characterized by certain

6286: 6075: 6043: 6003: 5998: 5795: 5785: 5603: 5434: 5391: 5364: 5359: 5213: 5180: 5170: 5020: 4948: 4752: 4690: 4670: 4655: 4370: 4251: 4123: 4082: 3801: 3746: 3620: 3616: 3189: 3181: 2828: 2418: 2073: 1785: 598: 439: 404: 399: 384: 369: 307: 275: 180: 66: 50: 4457: 3329:"What Is Intergenerational Solidarity, And Why Does It Matter For The French - And For Us?" 1745:, and a public competitor designed to be a low-cost and efficient fund manager, called the 6346: 6281: 6090: 6060: 6048: 5912: 5810: 5677: 5010: 4777: 4580: 4555: 4545: 3277: 2710: 2628: 2468: 2358: 2357:

Government can play with four different channels to finance the retirement pension. These

1998: 1845: 1805: 1781: 537: 522: 482: 379: 364: 337: 317: 247: 237: 4486: 2966: 1706:

and Superannuation and other Funds (Validation) Act 1992. Following the highly respected

1432:" by the state which may rank no higher than the state's promise to pay future pensions. 4214:(Report). A World Bank Policy Research Report. New York: Oxford University Press. 1994. 2301:

Public pension plan, publicly managed, defined benefit or notional defined contribution

6331: 6080: 5981: 5934: 5636: 5449: 5444: 5439: 5295: 5223: 4980: 4938: 4622: 4590: 2573: 2519: 2437:

decreases as the consumption price drops. As a consequence, exports increase. The real

2083: 2052: 1268: 929: 816: 680: 625: 532: 497: 342: 292: 230: 102: 39: 963:, which are payable to a certain age, usually before attaining normal retirement age. 30:

This article is about the retirement income arrangement. For the type of lodging, see

6424: 6306: 6225: 6210: 6195: 5966: 5944: 5850: 5734: 5667: 5641: 5576: 5419: 5376: 5371: 5218: 5102: 5000: 4722: 4575: 4560: 4300:

http://siteresources.worldbank.org/INTPENSIONS/Resources/Old_Age_Inc_Supp_Full_En.pdf

4255: 4128: 4111: 3185: 2623: 2503: 2096: 2065: 2002: 1236: 1232: 943:

will receive the payouts for longer periods of time. In the United States, under the

894:

workers, by the government itself. A traditional form of defined benefit plan is the

672: 660: 552: 512: 457: 82: 4071:"European Pension Reforms: Individualization, Privatization and Gender Pension Gaps" 3167:"The Value and Risk of Defined Contribution Pension Schemes: International Evidence" 3045: 2916:

Gruber, J. (2010) Public Finance and Public Policy, Worth Publishers. G-3 (Glossary)

2867: 1478:

Widows' funds were among the first pension type arrangement to appear. For example,

966:

Due to changes in pensions over the years, many pension systems, including those in

6341: 6321: 6301: 6291: 6266: 6020: 5855: 5835: 5820: 5790: 5780: 5559: 5414: 5396: 5332: 5310: 5268: 5258: 5155: 5145: 5117: 4848: 4838: 4665: 4605: 3201: 2599: 2507: 2499: 2487: 2430: 2410: 2382:

Retirement pensions turn out to be considerable amounts of money. For instance, in

2287:"Basic" or "social pension", at least social assistance, universal or means-tested 2100: 2078: 2029: 1823: 1707: 1211: 911: 832: 704: 477: 374: 112: 4767: 4479: 4035:

Samek Lodovici, Manuela; Drufuca, Serena; Patrizio, Monica; Pesce, Flavia (2016).

3302: 3021:"More Cautionary Tales From Illinois: Tier II Pensions (And Why Actuaries Matter)" 2781: 4437: 3683:"Billionen-Risiko! 1,5 Millionen Beamte gehen bald in Ruhestand - wer zahlt das?" 2704: 2425:

and of demand in general. The activity is then negatively affected. However, the

1282:

of the plan sponsor rather than a guarantee, common naming conventions include:

5954: 5877: 5845: 5305: 5248: 4866: 4823: 4798: 4762: 4717: 4642: 4632: 4617: 4570: 2675: 2633: 2434: 1888: 1228: 1074: 820: 804:

benefit, and depends on an individual's contribution history. For examples, see

715: 700: 472: 434: 424: 409: 137: 127: 107: 97: 92: 2582: Workers can switch between social insurance system or individual accounts 1860:, this is "apparently the first" US public pension plan to declare bankruptcy. 1588:, 1988). In 2010, there were over 76,291 pension schemes operating in Ireland. 6164: 5971: 5884: 5862: 5830: 5729: 5714: 5694: 5459: 5424: 5386: 5300: 5263: 5195: 5190: 5185: 5150: 5107: 5092: 5070: 4995: 4833: 4813: 4732: 4600: 4595: 4565: 4531: 4037:

The gender pension gap: differences between mothers and women without children

2472: 2104: 1841: 1838: 1577: 1330: 1224: 891: 850: 791:

committees may also be formed to investigate specific tasks, such as the U.S.

637: 631: 251: 199: 152: 122: 117: 17: 4382: 4229: 3839: 3564: 3155:

Gruber, J. Public Finance and Public Policy, Worth Publishers. G-3 (Glossary)

2312:

Consumption smoothing and elderly poverty protection through minimum pension

1702:

The early-1990s established the existing framework for state pensions in the

6351: 6271: 6085: 5770: 5124: 5025: 4985: 4955: 4876: 4712: 4675: 3711: 3597: 3454: 2549: 2532: 2403: 2007: 948: 824: 747: 727: 4374: 4361:

Barr, Nicholas; Diamond, Peter (Spring 2006). "The Economics of Pensions".

4209:

Averting the Old Age Crisis: Policies to Protect the Old and Promote Growth

3793: 3580:

A History of Probability and Statistics and Their Applications Before 1750

6185: 5243: 5233: 5165: 5160: 5129: 4975: 4930: 4808: 4803: 4707: 4585: 3805: 3750: 3393: 3072: 2015: 1467: 87: 35: 4087: 4070: 2832: 2082:

basic pensions in the current structure. Lower employment rates and the

1039:

system is partially funded by investment in special U.S. Treasury Bonds.

5815: 5765: 5504: 5238: 4943: 4627: 4336:"Perspectives : Réforme des retraites : les leviers d'action" 3193: 1573: 1297: 1215:). Examples of defined contribution plans in the United States include 1099: in this section. Unsourced material may be challenged and removed. 1057: 971: 940: 849:

Some pension plans will provide for members in the event they suffer a

731: 684: 502: 327: 4052:"Chaper 1: Assessing the gender gap in retirement saving arrangements" 3473:. Practising Law Institute. 1985. pp. search "security contract". 3105: 2494:

degrades the labour demand and increases the costs of production. The

1710:, occupational pensions were covered by comprehensive statutes in the 5939: 5287: 4926: 4248:

OECD Pensions at a Glance 2005: Public Policies across OECD Countries

2077:

pensions or penalise part-time employment, together with the limited

2011: 1772:

net worth of about $ 250,000 (shown), about a quarter of the group's

1220: 787: 774: 170: 3903:

Dagher, Veronica; Tergesen, Anne; Ettenheim, Rosie (31 March 2023).

3128:"A$ 76,000 Monthly Pension: Why States and Cities Are Short on Cash" 4112:"Shifting the Pension Mix: Consequences for Dutch and Danish Women" 4069:

Frericks, Patricia; Maier, Robert L.; De Graaf, Willibrord (2007).

5800: 2548: 1867: 1849: 1762: 1642: 1636: 1483: 1018: 429: 270: 4474: 3470:

Foreign Pension Plans, 1985: The New Rules Under IRC Section 404A

3447:

Foreign pension plans, 1985: the new rules under IRC section 404A

2502:

given that household's consumption prices rise. As corporations'

2232:(implemented for example in Italy, Latvia, Poland and Sweden) or 831:

in the United States of America or the "older person's grant" in

5840: 5283: 4485: 3420:"Securing Employer-Based Pensions: An International Perspective" 3050: 2759: 2056: 1737:, which aligned and raised retirement ages. Following that, the 1659:

Royal Commission on the Poor Laws and Relief of Distress 1905-09

1645:

striking over pension changes by the government in November 2011

1538:

Pension obligations of EUR 477.96 billion (plus 9.7 percent) and

1324: 703:. Retirement pensions are typically in the form of a guaranteed 462: 297: 175: 73: 4504: 3993:"In apparent first, a public pension plan files for bankruptcy" 3534:. Philadelphia, Pennsylvania: University of Pennsylvania Press. 4818: 2967:"Early Retirement Provisions in Defined Benefit Pension Plans" 1882: 1429: 1353: 1068: 723: 616: 4500: 1546:

officials and 68.5 billion EUR for former railway officials.

4018:"Largest U.S. pension plans assets fall $ 217 billion short" 3905:"Here's What Retirement Looks Like in America in Six Charts" 2059:

countries are not an exception. As per a 2015 report by the

3549:. Vol. 1. London: William Pickering. pp. xlviii. 607: 3236:

Economic Policy Committee and European Commission (2006).

2893:"Defined-Benefit vs. Defined-Contribution Plans Explained" 1541:

Aid obligations of EUR 169.02 billion (plus 13.4 percent).

1373:

for the use of large quotes and possible original research

827:. Most social pensions, though, are means-tested, such as 613: 3937:

Hening’s Laws of Virginia, Vol. II, page 324 and page 331

2236:(applied, for instance, in Estonia, Germany and Norway). 1822:

Pension plans became popular in the United States during

932:, benefits are typically indexed for inflation (known as 3528:

A History of Public Sector Pensions in the United States

1653:

The beginning of the modern state pension came with the

3303:"Pensions at a Glance : Pension replacement rates" 5510:

List of countries by rate of fatal workplace accidents

4170:

Towards Improved Retirement Savings Outcomes for Women

4110:

Frericks, P.; Maier, R.; De Graaf, W. (October 2006).

4056:

Towards Improved Retirement Savings Outcomes for Women

2453:

It turns out to be a demand shock because household's

1031:(CPP) is partially funded, with assets managed by the 3876:"The Pension Timeline - complete history of pensions" 2340:

Elderly poverty protection and consumption smoothing

2298:

Elderly poverty protection and consumption smoothing

1246:

In the US, defined contribution plans are subject to

773:

is a type of employment-based Pension in the UK. The

610: 4184:"Self-employment on the rise | Knowledge for policy" 3853:

Secretaría de Estado de la Seguridad Social (2019).

1413:

a tax break depending on the country and plan type.

722:, usually advantageous to employee and employer for 604: 6259: 6178: 6019: 5893: 5758: 5650: 5617: 5480: 5405: 5282: 5204: 5138: 4925: 4847: 4791: 4641: 4538: 1729:that updated regulation by replacing OPRA with the 1704:

Social Security Contributions and Benefits Act 1992

823:Superannuation and the Basic Retirement Pension of 601: 3986: 3984: 1061:financial resources to continue funding the plan. 726:reasons. Many pensions also contain an additional 3445:Klein, James P; Practising Law Institute (1985). 2868:"Employee Retirement Income Security Act (ERISA)" 2159:Means-tested, minimum pension guarantee, or flat 1811:Federal civilian pensions were offered under the 1780:The first "American" pensions came in 1636, when 1416:For example, Canadians have the option to open a 1012:and taxes. This method of financing is known as 951:early retirement reduction factor is acceptable. 947:, any reduction factor less than or equal to the 2518:This economic shock involves an increase of the 3278:"Pensions - Private pension assets - OECD Data" 2942:. The Pensions Advisory Service. Archived from 945:Employee Retirement Income Security Act of 1974 3890:"A Brief History of Pensions – Fix My Pension" 2656:, California pension proposal of the 1930s-40s 4516: 4298:Development / THE WORLD BANK. Retrieved from 3615:. Oxford University Press. pp. 491–505. 2998:. Aspen Publishers Online. pp. 199–200. 2827:United Nations DESA Discussion Paper No. 32. 2032:, former executive director of the PBGC (the 2014:, where the pension system is forecast to be 572: 8: 3449:. New York, N.Y.: Practising Law Institute. 3094:, Mississauga, Ontario: Wiley, p. 210, 2698: 2696: 783:United States Department of Veterans Affairs 738:) may provide a similar stream of payments. 3928:Hening’s Laws of Virginia, Vol. I, page 287 3378:: CS1 maint: numeric names: authors list ( 2996:Qualified Domestic Relations Order Handbook 2531:consumption prices decrease: this shock is 2165:Personal savings plan or occupational plan 2162:Personal savings plan or occupational plan 2069:gap remains a major issue in many nations. 1917:. Unsourced material may be challenged and 1487:distributed as benefits in the same year." 992:Defined benefit pension plan § Funding 4523: 4509: 4501: 4250:. Paris: OECD Publishing. pp. 21–25. 4022:USA Today, citing a report by Watson Wyatt 3238:The impact of ageing on public expenditure 3078:7 April 2011. Retrieved 30 September 2012. 2554:First pillar of pension system by country: 2417:decreases in the short term. This drop of 1633:Timeline of pensions in the United Kingdom 579: 565: 46: 38:. For the 2021 Marathi-language film, see 6252:Comprehensive Employment and Training Act 4127: 4086: 2371:Increase of employer social contribution, 2368:Increase of employee social contribution, 1981:Learn how and when to remove this message 1397:Learn how and when to remove this message 1115:Learn how and when to remove this message 815:Many countries have also put in place a " 34:. For the mortgage repayment scheme, see 6096:Job losses caused by the Great Recession 4773:Simultaneous recruiting of new graduates 4293: 4291: 4289: 4246:OECD (2006). "Pension-system Typology". 4241: 4239: 4144:"The gender pay gap situation in the EU" 3952:, Statutes and Stories, 18 November 2017 3870: 3868: 3826:Terán, Alexander Elu (13 January 2006). 3706: 3704: 3677: 3675: 3613:The Oxford Handbook of the Welfare State 3520: 3518: 2703:Thomas P. Lemke, Gerald T. Lins (2010). 2479:Increase of employer social contribution 2446:Increase of employee social contribution 2263: 2124: 1993:A growing challenge for many nations is 6277:Credentialism and educational inflation 4279: 4277: 4275: 3088:Tufts, William; Fairbanks, Lee (2011), 2692: 2121:The Pillars of Old Age Income Security: 1294:Collective Defined Contribution Schemes 447: 246: 198: 160: 65: 49: 6148:List of countries by unemployment rate 4418:from the original on 10 December 2019. 3371: 2402:point. Transfers from public power to 1844:protection. The retirement fund is a 4400: 4398: 4396: 4394: 4392: 3621:10.1093/oxfordhb/9780198828389.013.28 2983:from the original on 6 December 2003. 1678:State Earnings-Related Pension Scheme 1586:Dublin Institute for Advanced Studies 1516:Old Age and Disability Insurance Bill 1305:Risk sharing pension sponsor examples 1141:dark over future investment schemes. 659:Pensions should not be confused with 7: 5041:Practice-based professional learning 3915:from the original on 31 March 2023. 3794:"Pension modelling results: Ireland" 2560: Basic non-contributory pension 2034:Pension Benefit Guaranty Corporation 1915:adding citations to reliable sources 1828:retirement plan in the United States 1097:adding citations to reliable sources 996:Defined benefit plans may be either 5594:Workers' right to access the toilet 4436:; Arun Muralidhar (2 August 2004). 3211:from the original on 30 April 2019. 2566: Mandatory individual accounts 2203:Pillar 1, sometimes referred to as 2134:Mandatory privately managed pillar 1817:Federal Employees Retirement System 1741:has set up automatic enrolment for 1568:Pensions in the Republic of Ireland 1319:State of Wisconsin Investment Board 4324:from the original on 12 June 2013. 3764:"The Pensions Board Annual Report" 3165:Cannon, Edmund; Ian Tonks (2012). 2681:Universities Superannuation Scheme 2475:and the increase of unemployment. 2131:Mandatory publicly managed pillar 1572:There is a history of pensions in 1418:registered retirement savings plan 1312:Healthcare of Ontario Pension Plan 25: 3855:"Historia de la Seguridad Social" 1747:National Employment Savings Trust 1256:National Employment Savings Trust 812:in the United States of America. 6365: 6364: 5658:Corporate collapses and scandals 4363:Oxford Review of Economic Policy 4312:"Welcome to World Bank Intranet" 4256:10.1787/pension_glance-2005-3-en 4129:10.1111/j.1467-9515.2006.00500.x 4116:Social Policy and Administration 3991:Mercado, Darla (19 April 2012). 3949:First American Colonial Pensions 3253:"How is Social Security Funded?" 3186:10.1111/j.1539-6975.2011.01456.x 3019:Bauer, Elizabeth (7 June 2019). 2929:, §1:2 (Thomson West, 2013 ed.). 2173:Redistributive plus coinsurance 1887: 1808:in the late nineteenth century. 1687:After the Second World War, the 1358: 1073: 793:Commission on Veterans' Pensions 597: 57: 3525:Clark RL, Craig LA, Wilson JW. 2940:"The Pensions Advisory Service" 2374:Increase of the retirement age. 1813:Civil Service Retirement System 1344:Arbejdsmarkedets Tillægspension 1084:needs additional citations for 6158:Employment-to-population ratio 5530:Occupational health psychology 4442:. Cambridge University Press. 3832:Revista de Historia Industrial 2514:Increase of the retirement age 2230:Notional Defined Contributions 1661:and was the first step in the 1623:Pensions in the United Kingdom 1217:individual retirement accounts 1: 6246:Works Progress Administration 6138:Unemployment Convention, 1919 5550:Personal protective equipment 5098:Occupational Outlook Handbook 4462:Comparative Political Studies 4188:knowledge4policy.ec.europa.eu 3646:"A Brief History of Pensions" 3507:. 20 May 2019. Archived from 3174:Journal of Risk and Insurance 3126:Walsh, Mary (14 April 2018). 3053:Glossary of Statistical Terms 2588: Social insurance system 2260:Multipillar Pension Taxonomy: 1873:2018 Russian pension protests 1759:Pensions in the United States 675:, they are commonly known as 640:from work. A pension may be: 6327:Psychopathy in the workplace 5500:Human factors and ergonomics 4342:(in French). 21 January 2003 3547:History of Actuarial Science 3489:. Taxes International. 1985. 3355:"How Do Pension Funds Work?" 2800:"New Zealand Superannuation" 2760:"Industry SuperFunds - Home" 2234:occupational pension schemes 1693:National Assistance Act 1948 880:Defined benefit pension plan 829:Supplemental Security Income 734:payouts, for example, or an 707:, thus insuring against the 6312:Narcissism in the workplace 5525:Occupational exposure limit 3859:Seguridad Social: Conócenos 2413:insofar as the household's 2284:Elderly poverty protection 1997:. As birth rates drop and 1800:and, more extensively, the 1689:National Insurance Act 1946 1667:National Insurance Act 1911 1576:that can be traced back to 1514:'s social legislation, the 1338:Stichting Pensioenfonds ABP 741:The common use of the term 6452: 6241:Civil Works Administration 6123:Technological unemployment 5599:Workplace health promotion 5051:Professional certification 4748:Personality–job fit theory 3800:. OECD. 19 November 2019. 3501:"Who was Augustus Caesar?" 2609:Fee-only financial advisor 2545:Pension systems by country 2542: 2539:Pension systems by country 2490:. Indeed, the rise of the 2421:implies a diminishment of 2365:Decrease of real pensions, 1837:Retirement Fund filed for 1756: 1626: 1620: 1582:A Guide to Early Irish Law 1565: 1503: 1497: 1459: 1160: 1157:Defined contribution plans 1029:wage-based retirement plan 989: 877: 842: 29: 6360: 6221:Guaranteed minimum income 5806:Organizational commitment 4439:Rethinking Pension Reform 3650:Davidson Asset Management 3545:Haberman, Steven (1995). 2994:Shulman, Gary A. (1999). 2394:Decrease of real pensions 2179:Savings plus coinsurance 2176:Savings plus coinsurance 1655:Old Age Pensions Act 1908 1641:Public sector workers in 1534:The sum is divided into: 1500:State Socialism (Germany) 1163:Defined contribution plan 799:Social and state pensions 764:Employment-based pensions 653:defined contribution plan 508:Guaranteed minimum income 303:Diversification (finance) 6390:Aspects of organizations 6071:Involuntary unemployment 5632:Equal pay for equal work 5555:Repetitive strain injury 5056:Professional development 5046:Professional association 4728:Letter of recommendation 3997:Pensions and Investments 3424:Pension Research Council 3046:"Unfunded Pension Plans" 2927:ERISA for Money Managers 2706:ERISA for Money Managers 2361:are the following ones: 1858:Pensions and Investments 1835:Northern Mariana Islands 1712:Pension Schemes Act 1993 1231:to selecting individual 186:Employee stock ownership 133:Refund anticipation loan 6375:Aspects of corporations 6337:Slow movement (culture) 6216:Employer of last resort 6118:Structural unemployment 6056:Frictional unemployment 5495:Epilepsy and employment 5382:Performance-related pay 5316:National average salary 5229:996 working hour system 4493:The American Cyclopædia 3909:The Wall Street Journal 3716:freidok.uni-freiburg.de 3582:. John Wiley and Sons. 2660:Individual Pension Plan 2614:Generational accounting 2226:the contingent accounts 2148:Regulated fully funded 1663:Liberal welfare reforms 103:Unsecured personal loan 6385:Aspects of occupations 6191:Unemployment insurance 6143:Unemployment extension 6113:Reserve army of labour 5918:Constructive dismissal 5725:Sleeping while on duty 5690:Exploitation of labour 5572:Sick building syndrome 4743:Person–environment fit 4613:Independent contractor 3770:. 2010. Archived from 2742:"WordNet Search - 3.1" 2590: 2326:Consumption smoothing 2290:Universal or residual 1875: 1777: 1646: 1286:Defined Ambition Plans 1136:The age bias, reduced 630: 543:Universal basic income 420:Portfolio optimization 395:Investment performance 266:Alternative investment 6395:Aspects of workplaces 6133:Unemployment benefits 6128:Types of unemployment 6066:Graduate unemployment 5960:Letter of resignation 5589:Workers' compensation 5582:Occupational fatality 5086:Vocational university 4686:Employment counsellor 3644:Gianasso, Alexandre. 2804:workandincome.govt.nz 2666:Pension Rights Center 2654:Ham and Eggs Movement 2552: 2488:supply economic shock 1871: 1852:and $ 911 million in 1766: 1743:occupational pensions 1640: 1480:Duke Ernest the Pious 1462:History of retirement 1262:Risk sharing pensions 1186:contribution is known 1025:Pensions Reserve Fund 961:supplemental benefits 874:Defined benefit plans 720:deferred compensation 667:trade unions. Called 6201:Job creation program 5977:Mandatory retirement 5930:Employee offboarding 5750:Workplace incivility 5745:Workplace harassment 5520:Occupational disease 5515:Occupational burnout 5430:Disability insurance 5274:Workweek and weekend 5254:Retroactive overtime 5076:Vocational education 4991:Continuing education 4829:Permanent employment 4456:Grünewald A. 2021. " 4375:10.1093/oxrep/grj002 4148:commission.europa.eu 3806:10.1787/888934043359 3751:10.2139/ssrn.1661617 2353:Government influence 1911:improve this section 1682:State Second Pension 1290:Target benefit plans 1192:(until calculated). 1093:improve this article 1033:CPP Investment Board 689:superannuation plans 646:defined benefit plan 548:Volatility (finance) 518:Risk-return spectrum 360:Fundamental analysis 226:Defined contribution 6106:Recession-proof job 6101:Lists of recessions 6039:Economic depression 5987:Retirement planning 5868:Work–life interface 5705:Employee monitoring 5673:Corporate behaviour 5663:Accounting scandals 5545:Occupational stress 5535:Occupational injury 5066:Reflective practice 5061:Professional school 4783:Work-at-home scheme 4703:Induction programme 4681:Employment contract 4661:Business networking 3892:. 27 February 2018. 3878:. 22 February 2023. 3798:Pension at a glance 3486:Taxes International 2833:10.2139/ssrn.398280 2762:. industrysuper.com 2639:Retirement planning 2619:Pension led funding 2090:Economic challenges 2061:European Commission 2051:In this sense, the 1930:"population ageing" 1833:In April 2012, the 1723:Pensions Commission 1506:Pensions in Germany 1424:Financing structure 934:Retail Prices Index 839:Disability pensions 493:Financial inclusion 488:Financial deepening 390:Investment advisory 162:Employment contract 6369:See also templates 6206:Job creation index 6170:Youth unemployment 6034:Discouraged worker 5923:Wrongful dismissal 5903:At-will employment 5776:Civil conscription 5740:Workplace bullying 5627:Affirmative action 5609:Workplace wellness 5540:Occupational noise 5176:Long service leave 5036:Overspecialization 5016:Induction training 4971:Career development 4172:. OCDE Publishing. 4058:. OCDE Publishing. 3327:Bauer, Elizabeth. 3132:The New York Times 2591: 2486:It proves to be a 2379:business sector). 2101:unemployment rates 1876: 1864:Current challenges 1778: 1731:Pensions Regulator 1697:11 & 12 Geo. 6 1676:Then in 1978, The 1647: 1377:You can assist by 1190:benefit is unknown 845:Disability pension 806:National Insurance 528:Structured product 468:Citizen's dividend 415:Passive management 143:Debt consolidation 6418: 6417: 6317:Post-work society 6297:Kiss up kick down 6029:Barriers to entry 5994:Severance package 5826:Human trafficking 5720:Sexual harassment 5700:Employee handbook 5619:Equal opportunity 5482:Safety and health 5472:Take-home vehicle 5081:Vocational school 5031:Lifelong learning 5006:Further education 4966:Career counseling 4961:Career assessment 4738:Overqualification 4449:978-0-521-83411-7 4434:Franco Modigliani 4088:10.1093/sp/jxm008 3774:on 5 January 2012 3630:978-0-19-882838-9 3589:978-0-471-50230-2 3578:Hald, A. (1990). 3556:978-1-85196-160-3 3400:. 4 November 2020 3005:978-0-7355-0665-7 2846:"Old age pension" 2786:pension-watch.net 2605:Financial advisor 2455:disposable income 2359:economic policies 2350: 2349: 2205:the public pillar 2183: 2182: 2137:Voluntary pillar 1995:population ageing 1991: 1990: 1983: 1965: 1879:Population ageing 1819:(FERS), in 1987. 1798:Revolutionary War 1791:King Philip's War 1739:Pensions Act 2008 1735:Pensions Act 2007 1727:Pensions Act 2004 1716:Pensions Act 1995 1629:English Poor Laws 1512:Otto von Bismarck 1473:aeririum militare 1407: 1406: 1399: 1125: 1124: 1117: 709:risk of longevity 589: 588: 261:Active management 191:Employee benefits 148:Debt rescheduling 32:Pension (lodging) 16:(Redirected from 6443: 6436:Personal finance 6405:Critique of work 6400:Corporate titles 6368: 6367: 6287:Evil corporation 6153:Employment rates 6076:Jobless recovery 6044:Great Depression 6004:Golden parachute 5999:Golden handshake 5796:Job satisfaction 5786:Critique of work 5604:Workplace phobia 5435:Health insurance 5392:Wage compression 5360:Progressive wage 5214:35-hour workweek 5181:No call, no show 5171:Leave of absence 5021:Knowledge worker 4949:Master craftsman 4753:Personality hire 4691:Executive search 4671:Curriculum vitae 4656:Background check 4525: 4518: 4511: 4502: 4497: 4489: 4480:UK State pension 4453: 4420: 4419: 4417: 4410: 4402: 4387: 4386: 4358: 4352: 4351: 4349: 4347: 4332: 4326: 4325: 4323: 4316: 4308: 4302: 4295: 4284: 4281: 4270: 4269: 4243: 4234: 4233: 4213: 4205: 4199: 4198: 4196: 4194: 4180: 4174: 4173: 4165: 4159: 4158: 4156: 4154: 4140: 4134: 4133: 4131: 4107: 4101: 4100: 4090: 4066: 4060: 4059: 4047: 4041: 4040: 4032: 4026: 4025: 4024:. 10 March 2009. 4014: 4008: 4007: 4005: 4003: 3988: 3979: 3976: 3970: 3967: 3961: 3960: 3959: 3957: 3944: 3938: 3935: 3929: 3926: 3920: 3919: 3900: 3894: 3893: 3886: 3880: 3879: 3872: 3863: 3862: 3850: 3844: 3843: 3823: 3817: 3816: 3814: 3812: 3790: 3784: 3783: 3781: 3779: 3768:pensionsboard.ie 3760: 3754: 3745: 3733: 3727: 3726: 3724: 3722: 3708: 3699: 3698: 3696: 3694: 3679: 3670: 3667: 3661: 3660: 3658: 3656: 3641: 3635: 3634: 3608: 3602: 3601: 3575: 3569: 3568: 3542: 3536: 3535: 3533: 3522: 3513: 3512: 3497: 3491: 3490: 3481: 3475: 3474: 3465: 3459: 3458: 3442: 3436: 3435: 3433: 3431: 3416: 3410: 3409: 3407: 3405: 3390: 3384: 3383: 3377: 3369: 3367: 3365: 3350: 3344: 3343: 3341: 3339: 3324: 3318: 3317: 3315: 3313: 3299: 3293: 3292: 3290: 3288: 3274: 3268: 3267: 3265: 3263: 3248: 3242: 3241: 3233: 3227: 3226: 3219: 3213: 3212: 3210: 3171: 3162: 3156: 3153: 3147: 3146: 3140: 3138: 3123: 3117: 3116: 3115: 3113: 3104:, archived from 3085: 3079: 3070: 3064: 3063: 3061: 3059: 3042: 3036: 3035: 3033: 3031: 3016: 3010: 3009: 2991: 2985: 2984: 2982: 2971: 2962: 2956: 2955: 2953: 2951: 2936: 2930: 2925:Lemke and Lins, 2923: 2917: 2914: 2908: 2907: 2905: 2903: 2889: 2883: 2882: 2880: 2878: 2864: 2858: 2857: 2855: 2853: 2842: 2836: 2826: 2814: 2808: 2807: 2796: 2790: 2789: 2778: 2772: 2771: 2769: 2767: 2756: 2750: 2749: 2738: 2732: 2731: 2729: 2727: 2700: 2587: 2581: 2571: 2565: 2559: 2419:purchasing power 2415:available income 2409:It proves to be 2273:Characteristics 2264: 2228:, known also as 2221:the second tier, 2125: 1986: 1979: 1975: 1972: 1966: 1964: 1923: 1891: 1883: 1786:Virginia Company 1402: 1395: 1391: 1388: 1382: 1362: 1361: 1354: 1214: 1120: 1113: 1109: 1106: 1100: 1077: 1069: 1027:; in Canada the 914: 669:retirement plans 623: 622: 619: 618: 615: 612: 609: 606: 603: 581: 574: 567: 450: 440:Target date fund 405:Investor profile 400:Investment style 385:Impact investing 370:Growth investing 308:Equity (finance) 181:Salary packaging 61: 51:Personal finance 47: 21: 6451: 6450: 6446: 6445: 6444: 6442: 6441: 6440: 6421: 6420: 6419: 6414: 6410:Organized labor 6380:Aspects of jobs 6356: 6347:Toxic workplace 6282:Emotional labor 6255: 6179:Public programs 6174: 6091:Great Recession 6061:Full employment 6049:Long Depression 6015: 5913:Banishment room 5889: 5811:Refusal of work 5754: 5678:Corporate crime 5646: 5613: 5476: 5401: 5278: 5200: 5134: 5011:Graduate school 4921: 4843: 4787: 4778:Underemployment 4637: 4581:Self-employment 4556:Contingent work 4546:Academic tenure 4539:Classifications 4534: 4529: 4487:"Pension" 4484: 4471: 4450: 4432: 4429: 4427:Further reading 4424: 4423: 4415: 4408: 4404: 4403: 4390: 4360: 4359: 4355: 4345: 4343: 4334: 4333: 4329: 4321: 4314: 4310: 4309: 4305: 4296: 4287: 4282: 4273: 4266: 4245: 4244: 4237: 4222: 4211: 4207: 4206: 4202: 4192: 4190: 4182: 4181: 4177: 4167: 4166: 4162: 4152: 4150: 4142: 4141: 4137: 4109: 4108: 4104: 4075:Social Politics 4068: 4067: 4063: 4049: 4048: 4044: 4034: 4033: 4029: 4016: 4015: 4011: 4001: 3999: 3990: 3989: 3982: 3977: 3973: 3968: 3964: 3955: 3953: 3946: 3945: 3941: 3936: 3932: 3927: 3923: 3902: 3901: 3897: 3888: 3887: 3883: 3874: 3873: 3866: 3852: 3851: 3847: 3825: 3824: 3820: 3810: 3808: 3792: 3791: 3787: 3777: 3775: 3762: 3761: 3757: 3735: 3734: 3730: 3720: 3718: 3710: 3709: 3702: 3692: 3690: 3681: 3680: 3673: 3668: 3664: 3654: 3652: 3643: 3642: 3638: 3631: 3610: 3609: 3605: 3590: 3577: 3576: 3572: 3557: 3544: 3543: 3539: 3531: 3524: 3523: 3516: 3511:on 21 May 2019. 3499: 3498: 3494: 3483: 3482: 3478: 3467: 3466: 3462: 3444: 3443: 3439: 3429: 3427: 3418: 3417: 3413: 3403: 3401: 3392: 3391: 3387: 3370: 3363: 3361: 3352: 3351: 3347: 3337: 3335: 3326: 3325: 3321: 3311: 3309: 3301: 3300: 3296: 3286: 3284: 3276: 3275: 3271: 3261: 3259: 3250: 3249: 3245: 3235: 3234: 3230: 3221: 3220: 3216: 3208: 3169: 3164: 3163: 3159: 3154: 3150: 3136: 3134: 3125: 3124: 3120: 3111: 3109: 3102: 3087: 3086: 3082: 3073:"Falling Short" 3071: 3067: 3057: 3055: 3044: 3043: 3039: 3029: 3027: 3018: 3017: 3013: 3006: 2993: 2992: 2988: 2980: 2969: 2965:Foster, Ann C. 2964: 2963: 2959: 2949: 2947: 2938: 2937: 2933: 2924: 2920: 2915: 2911: 2901: 2899: 2891: 2890: 2886: 2876: 2874: 2866: 2865: 2861: 2851: 2849: 2844: 2843: 2839: 2816: 2815: 2811: 2798: 2797: 2793: 2780: 2779: 2775: 2765: 2763: 2758: 2757: 2753: 2740: 2739: 2735: 2725: 2723: 2721: 2711:Thomson Reuters 2702: 2701: 2694: 2689: 2649:Bankruptcy code 2629:Pensions crisis 2596: 2589: 2585: 2583: 2579: 2577: 2569: 2567: 2563: 2561: 2557: 2547: 2541: 2528:current account 2516: 2481: 2460:current account 2448: 2433:increases. The 2427:current account 2396: 2355: 2250: 2242: 2217: 2201: 2192: 2114: 2092: 2046: 2025: 1999:life expectancy 1987: 1976: 1970: 1967: 1924: 1922: 1908: 1892: 1881: 1866: 1846:defined benefit 1806:Progressive Era 1782:Plymouth colony 1761: 1755: 1635: 1625: 1619: 1607:Social Security 1598: 1570: 1564: 1508: 1502: 1496: 1464: 1458: 1426: 1403: 1392: 1386: 1383: 1376: 1363: 1359: 1352: 1307: 1264: 1206: 1202: 1165: 1159: 1121: 1110: 1104: 1101: 1090: 1078: 1067: 1037:Social Security 1035:while the U.S. 994: 988: 906: 887:Social Security 882: 876: 859: 847: 841: 810:Social Security 801: 766: 761: 677:pension schemes 600: 596: 585: 538:Systematic risk 523:Social dividend 483:Economic bubble 448: 380:Hedge (finance) 365:Government bond 318:Estate planning 248:Personal budget 242: 238:Social security 221:Defined benefit 214: 43: 28: 27:Retirement fund 23: 22: 15: 12: 11: 5: 6449: 6447: 6439: 6438: 6433: 6423: 6422: 6416: 6415: 6413: 6412: 6407: 6402: 6397: 6392: 6387: 6382: 6377: 6371: 6370: 6361: 6358: 6357: 6355: 6354: 6349: 6344: 6339: 6334: 6332:Sunday scaries 6329: 6324: 6319: 6314: 6309: 6304: 6299: 6294: 6289: 6284: 6279: 6274: 6269: 6263: 6261: 6257: 6256: 6249: 6248: 6243: 6238: 6233: 6228: 6223: 6218: 6213: 6208: 6203: 6198: 6193: 6188: 6182: 6180: 6176: 6175: 6173: 6172: 6167: 6162: 6161: 6160: 6155: 6145: 6140: 6135: 6130: 6125: 6120: 6115: 6110: 6109: 6108: 6103: 6098: 6093: 6083: 6081:Phillips curve 6078: 6073: 6068: 6063: 6058: 6053: 6052: 6051: 6046: 6036: 6031: 6025: 6023: 6017: 6016: 6014: 6013: 6008: 6007: 6006: 6001: 5991: 5990: 5989: 5984: 5982:Retirement age 5979: 5969: 5964: 5963: 5962: 5952: 5947: 5942: 5937: 5935:Exit interview 5932: 5927: 5926: 5925: 5920: 5915: 5905: 5899: 5897: 5891: 5890: 5888: 5887: 5882: 5881: 5880: 5875: 5865: 5860: 5859: 5858: 5853: 5848: 5843: 5838: 5833: 5828: 5823: 5813: 5808: 5803: 5798: 5793: 5788: 5783: 5778: 5773: 5768: 5762: 5760: 5756: 5755: 5753: 5752: 5747: 5742: 5737: 5732: 5727: 5722: 5717: 5712: 5707: 5702: 5697: 5692: 5687: 5685:Discrimination 5682: 5681: 5680: 5675: 5670: 5665: 5654: 5652: 5648: 5647: 5645: 5644: 5639: 5637:Gender pay gap 5634: 5629: 5623: 5621: 5615: 5614: 5612: 5611: 5606: 5601: 5596: 5591: 5586: 5585: 5584: 5574: 5569: 5568: 5567: 5557: 5552: 5547: 5542: 5537: 5532: 5527: 5522: 5517: 5512: 5507: 5502: 5497: 5492: 5486: 5484: 5478: 5477: 5475: 5474: 5469: 5468: 5467: 5457: 5452: 5450:Parental leave 5447: 5445:Marriage leave 5442: 5440:Life insurance 5437: 5432: 5427: 5422: 5417: 5411: 5409: 5403: 5402: 5400: 5399: 5394: 5389: 5384: 5379: 5374: 5369: 5368: 5367: 5357: 5356: 5355: 5350: 5345: 5340: 5330: 5329: 5328: 5323: 5313: 5308: 5303: 5298: 5296:Income bracket 5292: 5290: 5280: 5279: 5277: 5276: 5271: 5266: 5261: 5256: 5251: 5246: 5241: 5236: 5231: 5226: 5224:Eight-hour day 5221: 5216: 5210: 5208: 5202: 5201: 5199: 5198: 5193: 5188: 5183: 5178: 5173: 5168: 5163: 5158: 5153: 5148: 5142: 5140: 5136: 5135: 5133: 5132: 5127: 5122: 5121: 5120: 5115: 5105: 5100: 5095: 5090: 5089: 5088: 5083: 5078: 5073: 5068: 5063: 5058: 5053: 5048: 5043: 5038: 5033: 5028: 5023: 5018: 5013: 5008: 5003: 4998: 4993: 4983: 4981:Creative class 4978: 4973: 4968: 4963: 4958: 4953: 4952: 4951: 4941: 4939:Apprenticeship 4935: 4933: 4923: 4922: 4920: 4919: 4914: 4909: 4907:Scarlet-collar 4904: 4899: 4894: 4889: 4884: 4879: 4874: 4869: 4864: 4859: 4853: 4851: 4845: 4844: 4842: 4841: 4836: 4831: 4826: 4821: 4816: 4811: 4806: 4801: 4795: 4793: 4789: 4788: 4786: 4785: 4780: 4775: 4770: 4765: 4760: 4755: 4750: 4745: 4740: 4735: 4730: 4725: 4720: 4715: 4710: 4705: 4700: 4699: 4698: 4688: 4683: 4678: 4673: 4668: 4663: 4658: 4653: 4647: 4645: 4639: 4638: 4636: 4635: 4630: 4625: 4623:Temporary work 4620: 4615: 4610: 4609: 4608: 4603: 4598: 4591:Skilled worker 4588: 4583: 4578: 4573: 4568: 4563: 4558: 4553: 4548: 4542: 4540: 4536: 4535: 4530: 4528: 4527: 4520: 4513: 4505: 4499: 4498: 4482: 4477: 4470: 4469:External links 4467: 4466: 4465: 4454: 4448: 4428: 4425: 4422: 4421: 4388: 4353: 4327: 4303: 4285: 4271: 4264: 4235: 4220: 4200: 4175: 4160: 4135: 4122:(5): 475–492. 4102: 4081:(2): 212–237. 4061: 4042: 4027: 4009: 3980: 3971: 3962: 3939: 3930: 3921: 3895: 3881: 3864: 3845: 3818: 3785: 3755: 3728: 3700: 3671: 3662: 3636: 3629: 3603: 3588: 3570: 3555: 3537: 3514: 3492: 3476: 3460: 3437: 3426:. 23 July 2015 3411: 3385: 3345: 3319: 3307:stats.oecd.org 3294: 3269: 3243: 3228: 3214: 3157: 3148: 3118: 3108:on 28 May 2014 3101:978-1118098738 3100: 3080: 3065: 3037: 3011: 3004: 2986: 2957: 2946:on 28 May 2010 2931: 2918: 2909: 2884: 2859: 2837: 2809: 2791: 2773: 2751: 2733: 2719: 2691: 2690: 2688: 2685: 2684: 2683: 2678: 2673: 2671:Provident Fund 2668: 2663: 2657: 2651: 2642: 2641: 2636: 2631: 2626: 2621: 2616: 2611: 2602: 2595: 2592: 2584: 2578: 2574:Provident fund 2568: 2562: 2556: 2543:Main article: 2540: 2537: 2520:retirement age 2515: 2512: 2480: 2477: 2447: 2444: 2395: 2392: 2376: 2375: 2372: 2369: 2366: 2354: 2351: 2348: 2347: 2344: 2341: 2338: 2334: 2333: 2330: 2327: 2324: 2320: 2319: 2316: 2313: 2310: 2306: 2305: 2302: 2299: 2296: 2292: 2291: 2288: 2285: 2282: 2278: 2277: 2276:Participation 2274: 2271: 2268: 2249: 2246: 2241: 2238: 2216: 2213: 2200: 2197: 2191: 2188: 2181: 2180: 2177: 2174: 2171: 2167: 2166: 2163: 2160: 2157: 2153: 2152: 2149: 2146: 2143: 2139: 2138: 2135: 2132: 2129: 2113: 2110: 2097:interest rates 2091: 2088: 2084:gender pay gap 2066:part-time work 2053:European Union 2045: 2042: 2024: 2021: 1989: 1988: 1895: 1893: 1886: 1880: 1877: 1865: 1862: 1757:Main article: 1754: 1751: 1621:Main article: 1618: 1617:United Kingdom 1615: 1597: 1594: 1566:Main article: 1563: 1560: 1543: 1542: 1539: 1498:Main article: 1495: 1492: 1457: 1454: 1425: 1422: 1405: 1404: 1366: 1364: 1357: 1351: 1348: 1347: 1346: 1340: 1334: 1327: 1321: 1315: 1306: 1303: 1302: 1301: 1295: 1292: 1287: 1269:longevity risk 1263: 1260: 1237:tax advantages 1201: 1198: 1161:Main article: 1158: 1155: 1123: 1122: 1081: 1079: 1072: 1066: 1063: 990:Main article: 987: 984: 930:United Kingdom 878:Main article: 875: 872: 858: 855: 843:Main article: 840: 837: 817:social pension 808:in the UK, or 800: 797: 765: 762: 760: 757: 681:United Kingdom 657: 656: 649: 587: 586: 584: 583: 576: 569: 561: 558: 557: 556: 555: 550: 545: 540: 535: 533:Sustainability 530: 525: 520: 515: 510: 505: 500: 498:Financial risk 495: 490: 485: 480: 475: 470: 465: 460: 452: 451: 445: 444: 443: 442: 437: 432: 427: 422: 417: 412: 407: 402: 397: 392: 387: 382: 377: 372: 367: 362: 357: 356: 355: 350: 345: 340: 335: 325: 320: 315: 310: 305: 300: 295: 293:Bond (finance) 290: 289: 288: 283: 278: 268: 263: 255: 254: 244: 243: 241: 240: 235: 234: 233: 231:Social pension 228: 223: 215: 213: 212: 206: 203: 202: 196: 195: 194: 193: 188: 183: 178: 173: 165: 164: 158: 157: 156: 155: 150: 145: 140: 135: 130: 125: 120: 115: 110: 105: 100: 95: 90: 85: 77: 76: 63: 62: 54: 53: 40:Pension (film) 26: 24: 18:Superannuation 14: 13: 10: 9: 6: 4: 3: 2: 6448: 6437: 6434: 6432: 6429: 6428: 6426: 6411: 6408: 6406: 6403: 6401: 6398: 6396: 6393: 6391: 6388: 6386: 6383: 6381: 6378: 6376: 6373: 6372: 6363: 6362: 6359: 6353: 6350: 6348: 6345: 6343: 6340: 6338: 6335: 6333: 6330: 6328: 6325: 6323: 6320: 6318: 6315: 6313: 6310: 6308: 6307:Make-work job 6305: 6303: 6300: 6298: 6295: 6293: 6290: 6288: 6285: 6283: 6280: 6278: 6275: 6273: 6270: 6268: 6265: 6264: 6262: 6258: 6254: 6253: 6247: 6244: 6242: 6239: 6237: 6234: 6232: 6229: 6227: 6226:Right to work 6224: 6222: 6219: 6217: 6214: 6212: 6211:Job guarantee 6209: 6207: 6204: 6202: 6199: 6197: 6196:Make-work job 6194: 6192: 6189: 6187: 6184: 6183: 6181: 6177: 6171: 6168: 6166: 6163: 6159: 6156: 6154: 6151: 6150: 6149: 6146: 6144: 6141: 6139: 6136: 6134: 6131: 6129: 6126: 6124: 6121: 6119: 6116: 6114: 6111: 6107: 6104: 6102: 6099: 6097: 6094: 6092: 6089: 6088: 6087: 6084: 6082: 6079: 6077: 6074: 6072: 6069: 6067: 6064: 6062: 6059: 6057: 6054: 6050: 6047: 6045: 6042: 6041: 6040: 6037: 6035: 6032: 6030: 6027: 6026: 6024: 6022: 6018: 6012: 6009: 6005: 6002: 6000: 5997: 5996: 5995: 5992: 5988: 5985: 5983: 5980: 5978: 5975: 5974: 5973: 5970: 5968: 5967:Restructuring 5965: 5961: 5958: 5957: 5956: 5953: 5951: 5948: 5946: 5945:Notice period 5943: 5941: 5938: 5936: 5933: 5931: 5928: 5924: 5921: 5919: 5916: 5914: 5911: 5910: 5909: 5906: 5904: 5901: 5900: 5898: 5896: 5892: 5886: 5883: 5879: 5876: 5874: 5871: 5870: 5869: 5866: 5864: 5861: 5857: 5854: 5852: 5851:Unfree labour 5849: 5847: 5844: 5842: 5839: 5837: 5834: 5832: 5829: 5827: 5824: 5822: 5821:Bonded labour 5819: 5818: 5817: 5814: 5812: 5809: 5807: 5804: 5802: 5799: 5797: 5794: 5792: 5789: 5787: 5784: 5782: 5779: 5777: 5774: 5772: 5769: 5767: 5764: 5763: 5761: 5757: 5751: 5748: 5746: 5743: 5741: 5738: 5736: 5735:Whistleblower 5733: 5731: 5728: 5726: 5723: 5721: 5718: 5716: 5713: 5711: 5708: 5706: 5703: 5701: 5698: 5696: 5693: 5691: 5688: 5686: 5683: 5679: 5676: 5674: 5671: 5669: 5668:Control fraud 5666: 5664: 5661: 5660: 5659: 5656: 5655: 5653: 5649: 5643: 5642:Glass ceiling 5640: 5638: 5635: 5633: 5630: 5628: 5625: 5624: 5622: 5620: 5616: 5610: 5607: 5605: 5602: 5600: 5597: 5595: 5592: 5590: 5587: 5583: 5580: 5579: 5578: 5577:Work accident 5575: 5573: 5570: 5566: 5565:United States 5563: 5562: 5561: 5558: 5556: 5553: 5551: 5548: 5546: 5543: 5541: 5538: 5536: 5533: 5531: 5528: 5526: 5523: 5521: 5518: 5516: 5513: 5511: 5508: 5506: 5503: 5501: 5498: 5496: 5493: 5491: 5488: 5487: 5485: 5483: 5479: 5473: 5470: 5466: 5465:United States 5463: 5462: 5461: 5458: 5456: 5453: 5451: 5448: 5446: 5443: 5441: 5438: 5436: 5433: 5431: 5428: 5426: 5423: 5421: 5420:Casual Friday 5418: 5416: 5413: 5412: 5410: 5408: 5404: 5398: 5395: 5393: 5390: 5388: 5385: 5383: 5380: 5378: 5377:Paid time off 5375: 5373: 5372:Overtime rate 5370: 5366: 5363: 5362: 5361: 5358: 5354: 5353:United States 5351: 5349: 5346: 5344: 5341: 5339: 5336: 5335: 5334: 5331: 5327: 5324: 5322: 5319: 5318: 5317: 5314: 5312: 5309: 5307: 5304: 5302: 5299: 5297: 5294: 5293: 5291: 5289: 5285: 5281: 5275: 5272: 5270: 5267: 5265: 5262: 5260: 5257: 5255: 5252: 5250: 5247: 5245: 5242: 5240: 5237: 5235: 5232: 5230: 5227: 5225: 5222: 5220: 5219:Four-day week 5217: 5215: 5212: 5211: 5209: 5207: 5203: 5197: 5194: 5192: 5189: 5187: 5184: 5182: 5179: 5177: 5174: 5172: 5169: 5167: 5164: 5162: 5159: 5157: 5154: 5152: 5149: 5147: 5144: 5143: 5141: 5137: 5131: 5128: 5126: 5123: 5119: 5116: 5114: 5111: 5110: 5109: 5106: 5104: 5103:Practice firm 5101: 5099: 5096: 5094: 5091: 5087: 5084: 5082: 5079: 5077: 5074: 5072: 5069: 5067: 5064: 5062: 5059: 5057: 5054: 5052: 5049: 5047: 5044: 5042: 5039: 5037: 5034: 5032: 5029: 5027: 5024: 5022: 5019: 5017: 5014: 5012: 5009: 5007: 5004: 5002: 5001:Employability 4999: 4997: 4994: 4992: 4989: 4988: 4987: 4984: 4982: 4979: 4977: 4974: 4972: 4969: 4967: 4964: 4962: 4959: 4957: 4954: 4950: 4947: 4946: 4945: 4942: 4940: 4937: 4936: 4934: 4932: 4928: 4924: 4918: 4915: 4913: 4910: 4908: 4905: 4903: 4902:Orange-collar 4900: 4898: 4895: 4893: 4890: 4888: 4885: 4883: 4880: 4878: 4875: 4873: 4870: 4868: 4865: 4863: 4860: 4858: 4855: 4854: 4852: 4850: 4849:Working class 4846: 4840: 4837: 4835: 4832: 4830: 4827: 4825: 4822: 4820: 4817: 4815: 4812: 4810: 4807: 4805: 4802: 4800: 4797: 4796: 4794: 4790: 4784: 4781: 4779: 4776: 4774: 4771: 4769: 4766: 4764: 4761: 4759: 4756: 4754: 4751: 4749: 4746: 4744: 4741: 4739: 4736: 4734: 4731: 4729: 4726: 4724: 4723:Job interview 4721: 4719: 4716: 4714: 4711: 4709: 4706: 4704: 4701: 4697: 4694: 4693: 4692: 4689: 4687: 4684: 4682: 4679: 4677: 4674: 4672: 4669: 4667: 4664: 4662: 4659: 4657: 4654: 4652: 4649: 4648: 4646: 4644: 4640: 4634: 4631: 4629: 4626: 4624: 4621: 4619: 4616: 4614: 4611: 4607: 4604: 4602: 4599: 4597: 4594: 4593: 4592: 4589: 4587: 4584: 4582: 4579: 4577: 4576:Part-time job 4574: 4572: 4569: 4567: 4564: 4562: 4561:Full-time job 4559: 4557: 4554: 4552: 4549: 4547: 4544: 4543: 4541: 4537: 4533: 4526: 4521: 4519: 4514: 4512: 4507: 4506: 4503: 4495: 4494: 4488: 4483: 4481: 4478: 4476: 4475:US Retirement 4473: 4472: 4468: 4463: 4459: 4455: 4451: 4445: 4441: 4440: 4435: 4431: 4430: 4426: 4414: 4407: 4401: 4399: 4397: 4395: 4393: 4389: 4384: 4380: 4376: 4372: 4368: 4364: 4357: 4354: 4341: 4337: 4331: 4328: 4320: 4313: 4307: 4304: 4301: 4294: 4292: 4290: 4286: 4280: 4278: 4276: 4272: 4267: 4265:9789264018716 4261: 4257: 4253: 4249: 4242: 4240: 4236: 4231: 4227: 4223: 4221:0-19-520996-6 4217: 4210: 4204: 4201: 4189: 4185: 4179: 4176: 4171: 4164: 4161: 4149: 4145: 4139: 4136: 4130: 4125: 4121: 4117: 4113: 4106: 4103: 4098: 4094: 4089: 4084: 4080: 4076: 4072: 4065: 4062: 4057: 4053: 4050:OCDE (2021). 4046: 4043: 4038: 4031: 4028: 4023: 4019: 4013: 4010: 3998: 3994: 3987: 3985: 3981: 3975: 3972: 3966: 3963: 3951: 3950: 3943: 3940: 3934: 3931: 3925: 3922: 3918: 3914: 3910: 3906: 3899: 3896: 3891: 3885: 3882: 3877: 3871: 3869: 3865: 3861:(in Spanish). 3860: 3856: 3849: 3846: 3841: 3837: 3833: 3829: 3822: 3819: 3807: 3803: 3799: 3795: 3789: 3786: 3773: 3769: 3765: 3759: 3756: 3752: 3748: 3743: 3739: 3732: 3729: 3717: 3713: 3707: 3705: 3701: 3688: 3684: 3678: 3676: 3672: 3666: 3663: 3651: 3647: 3640: 3637: 3632: 3626: 3622: 3618: 3614: 3607: 3604: 3599: 3595: 3591: 3585: 3581: 3574: 3571: 3566: 3562: 3558: 3552: 3548: 3541: 3538: 3530: 3529: 3521: 3519: 3515: 3510: 3506: 3502: 3496: 3493: 3488: 3487: 3480: 3477: 3472: 3471: 3464: 3461: 3456: 3452: 3448: 3441: 3438: 3425: 3421: 3415: 3412: 3399: 3395: 3394:"Plan Assets" 3389: 3386: 3381: 3375: 3360: 3356: 3349: 3346: 3334: 3330: 3323: 3320: 3308: 3304: 3298: 3295: 3283: 3279: 3273: 3270: 3258: 3254: 3247: 3244: 3239: 3232: 3229: 3224: 3218: 3215: 3207: 3203: 3199: 3195: 3191: 3187: 3183: 3179: 3175: 3168: 3161: 3158: 3152: 3149: 3145: 3133: 3129: 3122: 3119: 3107: 3103: 3097: 3093: 3092: 3084: 3081: 3077: 3076:The Economist 3074: 3069: 3066: 3054: 3052: 3047: 3041: 3038: 3026: 3022: 3015: 3012: 3007: 3001: 2997: 2990: 2987: 2979: 2975: 2968: 2961: 2958: 2945: 2941: 2935: 2932: 2928: 2922: 2919: 2913: 2910: 2898: 2894: 2888: 2885: 2873: 2869: 2863: 2860: 2847: 2841: 2838: 2834: 2830: 2824: 2820: 2813: 2810: 2805: 2801: 2795: 2792: 2787: 2783: 2782:"Country map" 2777: 2774: 2761: 2755: 2752: 2747: 2746:princeton.edu 2743: 2737: 2734: 2722: 2720:9780314902023 2716: 2712: 2708: 2707: 2699: 2697: 2693: 2686: 2682: 2679: 2677: 2674: 2672: 2669: 2667: 2664: 2661: 2658: 2655: 2652: 2650: 2647: 2646: 2645: 2640: 2637: 2635: 2632: 2630: 2627: 2625: 2624:Pension model 2622: 2620: 2617: 2615: 2612: 2610: 2606: 2603: 2601: 2598: 2597: 2593: 2575: 2555: 2551: 2546: 2538: 2536: 2534: 2529: 2523: 2521: 2513: 2511: 2509: 2505: 2504:profitability 2501: 2497: 2496:competitivity 2493: 2489: 2484: 2478: 2476: 2474: 2470: 2466: 2461: 2456: 2451: 2445: 2443: 2440: 2436: 2432: 2428: 2424: 2420: 2416: 2412: 2407: 2405: 2401: 2393: 2391: 2387: 2385: 2380: 2373: 2370: 2367: 2364: 2363: 2362: 2360: 2352: 2345: 2342: 2339: 2336: 2335: 2331: 2328: 2325: 2322: 2321: 2317: 2314: 2311: 2308: 2307: 2303: 2300: 2297: 2294: 2293: 2289: 2286: 2283: 2280: 2279: 2275: 2272: 2269: 2266: 2265: 2262: 2261: 2257: 2254: 2248:Fourth Pillar 2247: 2245: 2239: 2237: 2235: 2231: 2227: 2222: 2219:Pillar 2, or 2215:Second pillar 2214: 2212: 2210: 2206: 2198: 2196: 2189: 2187: 2178: 2175: 2172: 2169: 2168: 2164: 2161: 2158: 2155: 2154: 2151:Fully funded 2150: 2147: 2145:Tax-financed 2144: 2141: 2140: 2136: 2133: 2130: 2127: 2126: 2123: 2122: 2118: 2111: 2109: 2106: 2102: 2098: 2089: 2087: 2085: 2080: 2079:care services 2075: 2070: 2067: 2062: 2058: 2054: 2049: 2043: 2041: 2037: 2035: 2031: 2022: 2020: 2017: 2013: 2009: 2004: 2003:public sector 2000: 1996: 1985: 1982: 1974: 1963: 1960: 1956: 1953: 1949: 1946: 1942: 1939: 1935: 1932: – 1931: 1927: 1926:Find sources: 1920: 1916: 1912: 1906: 1905: 1901: 1896:This section 1894: 1890: 1885: 1884: 1878: 1874: 1870: 1863: 1861: 1859: 1855: 1851: 1847: 1843: 1840: 1836: 1831: 1829: 1825: 1820: 1818: 1814: 1809: 1807: 1803: 1799: 1794: 1792: 1787: 1783: 1775: 1771: 1765: 1760: 1753:United States 1752: 1750: 1749:(or "Nest"). 1748: 1744: 1740: 1736: 1732: 1728: 1724: 1721:In 2002, the 1719: 1717: 1713: 1709: 1705: 1700: 1698: 1694: 1690: 1685: 1683: 1679: 1674: 1670: 1668: 1664: 1660: 1656: 1651: 1644: 1639: 1634: 1630: 1624: 1616: 1614: 1610: 1608: 1602: 1595: 1593: 1589: 1587: 1583: 1579: 1575: 1569: 1561: 1559: 1555: 1551: 1547: 1540: 1537: 1536: 1535: 1532: 1528: 1524: 1520: 1517: 1513: 1507: 1501: 1493: 1491: 1488: 1485: 1481: 1476: 1474: 1469: 1463: 1455: 1453: 1449: 1445: 1441: 1437: 1433: 1431: 1423: 1421: 1419: 1414: 1410: 1401: 1398: 1390: 1380: 1374: 1372: 1367:This section 1365: 1356: 1355: 1349: 1345: 1341: 1339: 1336:Netherlands: 1335: 1332: 1328: 1326: 1322: 1320: 1316: 1313: 1309: 1308: 1304: 1299: 1296: 1293: 1291: 1288: 1285: 1284: 1283: 1281: 1277: 1272: 1270: 1261: 1259: 1257: 1252: 1249: 1244: 1240: 1238: 1234: 1230: 1226: 1222: 1218: 1213: 1212:§ 414(i) 1209: 1199: 1197: 1193: 1191: 1187: 1181: 1177: 1174: 1169: 1164: 1156: 1154: 1150: 1146: 1142: 1139: 1134: 1131: 1119: 1116: 1108: 1098: 1094: 1088: 1087: 1082:This section 1080: 1076: 1071: 1070: 1065:DB criticisms 1064: 1062: 1059: 1055: 1051: 1046: 1041: 1040: 1038: 1034: 1030: 1026: 1021: 1020: 1015: 1014:pay-as-you-go 1010: 1005: 1003: 999: 993: 985: 983: 981: 977: 973: 969: 964: 962: 958: 952: 950: 946: 942: 937: 935: 931: 926: 923: 919: 913: 912:§ 414(j) 909: 903: 901: 897: 893: 888: 881: 873: 871: 867: 863: 856: 854: 852: 846: 838: 836: 834: 830: 826: 822: 818: 813: 811: 807: 798: 796: 794: 790: 789: 784: 779: 776: 772: 763: 758: 756: 754: 750: 749: 744: 739: 737: 733: 729: 725: 721: 717: 712: 710: 706: 702: 698: 694: 690: 686: 682: 678: 674: 673:United States 670: 664: 662: 661:severance pay 654: 650: 647: 643: 642: 641: 639: 635: 634: 633: 627: 621: 594: 582: 577: 575: 570: 568: 563: 562: 560: 559: 554: 553:Watered stock 551: 549: 546: 544: 541: 539: 536: 534: 531: 529: 526: 524: 521: 519: 516: 514: 513:Market impact 511: 509: 506: 504: 501: 499: 496: 494: 491: 489: 486: 484: 481: 479: 476: 474: 471: 469: 466: 464: 461: 459: 458:Asset pricing 456: 455: 454: 453: 446: 441: 438: 436: 433: 431: 428: 426: 423: 421: 418: 416: 413: 411: 408: 406: 403: 401: 398: 396: 393: 391: 388: 386: 383: 381: 378: 376: 373: 371: 368: 366: 363: 361: 358: 354: 351: 349: 346: 344: 341: 339: 336: 334: 331: 330: 329: 326: 324: 321: 319: 316: 314: 311: 309: 306: 304: 301: 299: 296: 294: 291: 287: 284: 282: 279: 277: 274: 273: 272: 269: 267: 264: 262: 259: 258: 257: 256: 253: 249: 245: 239: 236: 232: 229: 227: 224: 222: 219: 218: 217: 216: 211: 208: 207: 205: 204: 201: 197: 192: 189: 187: 184: 182: 179: 177: 174: 172: 169: 168: 167: 166: 163: 159: 154: 151: 149: 146: 144: 141: 139: 136: 134: 131: 129: 126: 124: 121: 119: 116: 114: 111: 109: 106: 104: 101: 99: 96: 94: 91: 89: 86: 84: 81: 80: 79: 78: 75: 72: 68: 64: 60: 56: 55: 52: 48: 45: 41: 37: 33: 19: 6342:Toxic leader 6322:Presenteeism 6302:Labor rights 6292:Going postal 6267:Bullshit job 6250: 6235: 6230: 6021:Unemployment 5873:Downshifting 5856:Wage slavery 5836:Penal labour 5791:Dead-end job 5781:Conscription 5560:Right to sit 5454: 5415:Annual leave 5397:Working poor 5333:Minimum wage 5311:Maximum wage 5269:Working time 5259:Six-hour day 5156:Career break 5118:Professional 4912:Black-collar 4882:White-collar 4862:Green-collar 4839:Volunteering 4676:Drug testing 4666:Cover letter 4606:Tradesperson 4491: 4461: 4438: 4369:(1): 15–39. 4366: 4362: 4356: 4344:. 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