This European survey examines (a) Preserving the financial viability of France's state pension system is better achieved by raising the effective retirement age than by raising contributions while working; (b) Preserving the financial viability of France's state pension system is better achieved by raising the effective retirement age than by reducing benefits once retired
Keyword: pensions
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This week's IGM Economic Experts Panel statements:
A) Without changes in policy, a rising share of people who are over age 65 will exert a substantial downward influence on per capita real GDP in western European countries.
B) In European countries where the share of those over 65 is rising, there are net social benefits to adjusting retirement ages for state-financed (including pay-as-you-go) pension systems upwards, so that revised retirement ages better reflect longer life expectancies.
This week's European Economic Experts Panel statements:
A) Without changes in policy, a rising share of people who are over age 65 will exert a substantial downward influence on per capita real GDP in western European countries.
B) In European countries where the share of those over 65 is rising, there are net social benefits to adjusting retirement ages for state-financed (including pay-as-you-go) pension systems upwards, so that revised retirement ages better reflect longer life expectancies.
This week’s IGM Economic Experts Panel statements:
A: By discounting pension liabilities at high interest rates under government accounting standards, many U.S. state and local governments understate their pension liabilities and the costs of providing pensions to public-sector workers. (The experts panel previously voted on this question on October 1, 2012. Those earlier results can be found here.)
B: During the next two decades some U.S. states, unless they substantially increase taxes, cut spending, and/or change public-sector pensions, will require a combination of severe austerity budgets, a federal bailout, and/or default. (The experts panel previously voted on this question on October 1, 2012. Those earlier results can be found here.)
This week’s IGM Economic Experts Panel statement:
An effective way to increase savings rates of employees whose firms have defined contribution plans is to combine automatic enrollment in those plans and periodic automatic increases in their contributions (with the ability to opt out of either).
This week’s IGM Economic Experts Panel statements:
A: By discounting pension liabilities at high interest rates under government accounting standards, many U.S. state and local governments understate their pension liabilities and the costs of providing pensions to public-sector workers.
B: During the next two decades some U.S. states, unless they substantially increase taxes, cut spending, and/or change public-sector pensions, will require a combination of severe austerity budgets, a federal bailout, and/or default.
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