Risk Aspects of Investment-Based Social Security Reform (National Bureau of Economic Research Conference Report)

Description

Our current social security system operates on a pay-as-you-go basis; benefits are paid almost entirely out of current revenues. As the ratio of retirees to taxpayers increases, concern about the high costs of providing benefits in a pay-as-you-go system has led economists to explore other options. One involves "prefunding," in which a person's withholdings are invested in financial instruments, such as stocks and bonds, the eventual returns from which would fund his or her retirement. The risks such a system would introduce--such as the volatility in the market prices of investment a.

First Sentence

The increasing life expectancy in the United States and in other industrial countries is creating a major problem for traditional unfunded social security pension programs.

Subjects

Other Editions

• Risk Aspects of Investment-Based Social Security Reform (National Bureau of Economic Research Conference Report)University Of Chicago Press2000-12-01
• Risk Aspects of Investment-based Social Security ReformUniversity of Chicago Press2009-01-01
• Risk Aspects of Investment-Based Social Security ReformUniversity of Chicago Press2010-01-01