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Generational impacts of demographic changes in pay-as-you-go pension schemes: Measurement and application to the Netherlands

Heeringa,W.L.
; 
Bovenberg,A.L.
Abstract
Rising longevity and falling fertility threaten the sustainability of pay-as-you-go pension schemes and have major implications for the distribution across generations. This paper shows that keeping generational accounts of the Dutch pay-as-you-go pension scheme constant since the introduction of this scheme in 1957 in the face of subsequent demographic changes would have required a gradual increase of the entitlement age. For the baby boom generations born between 1945 and 1960, we calculate a required increase in the entitlement age of between four and seven years to offset the generational impact of longer life expectancy and lower fertility.
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2012
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Tilburg University Research Output Collection
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Heeringa, W L & Bovenberg, A L 2012, 'Generational impacts of demographic changes in pay-as-you-go pension schemes : Measurement and application to the Netherlands', Economist-Netherlands, vol. 160, no. 1, pp. 1-16. < http://www.springerlink.com/content/u9137x4416001219/ >
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https://hdl.handle.net/20.500.14602/56312
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