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The Danish Pension System
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Book Synopsis The Danish Pension System by : Torben M. Andersen
Download or read book The Danish Pension System written by Torben M. Andersen and published by Oxford University Press. This book was released on 2022-07-04 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: The need for pension reform is widely discussed against the backdrop of falling fertility rates and rising longevity. These developments challenge pension systems which in many countries already encounter problems with pension adequacy and financial sustainability. In the debate, reference is often made to Denmark as a model for pension system reform. This book offers the first coherent and in-depth description and analysis of the Danish pension system and its structure and performance. As is well-known to scholars and experts, there is a huge leap from considering general characterisations of pension systems in terms of various performance indicators to understand the structure of particular pension systems. This book aims to introduce these aspects to an international readership, explaining the structure and design of the pension system and its performance, benefit structure, regulation, critical reforms, and macroeconomic implications, as well as investment policies in pension funds in general.
Book Synopsis pension institutions and annuities in denmark by : Carsten Andersen
Download or read book pension institutions and annuities in denmark written by Carsten Andersen and published by World Bank Publications. This book was released on 2007 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt: Subject: This paper considers the overall structure of the Danish pension system, reviews the relative role of different types of pension institutions, and discusses their asset allocation strategies and investment performance. The paper also examines the regulation and supervision of providers of pension services, the growing reliance on risk-based supervision, and the application of the so-called contribution principle. The Danish pension system includes a modest universal social pension with a supplement for low-income pensioners and near universal participation in occupational and personal pensions that are primarily based on defined contribution plans. The annuity market is well developed: 50 percent of annual contributions are allocated to the purchase of deferred annuities, while immediate annuities are also purchased at or even after retirement. However, detailed comprehensive data on the rate of annuitization are lacking. Distinct features of the Danish pension system include the widespread use of profit participating contracts with minimum guaranteed benefits and regular provision of bonuses, covering both the accumulation and payout phases, and extensive use of group deferred annuity contracts. A new traffic light system with periodic stress testing has resulted in greater emphasis on asset liability matching and hedging strategies by pension institutions and a shift in investment policies in favor of foreign bonds and long-term swap contracts
Book Synopsis Pension Institutions and Annuities in Denmark by : Carsten Andersen
Download or read book Pension Institutions and Annuities in Denmark written by Carsten Andersen and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper considers the overall structure of the Danish pension system, reviews the relative role of different types of pension institutions, and discusses their asset allocation strategies and investment performance. The paper also examines the regulation and supervision of providers of pension services, the growing reliance on risk-based supervision, and the application of the so-called contribution principle. The Danish pension system includes a modest universal social pension with a supplement for low-income pensioners and near universal participation in occupational and personal pensions that are primarily based on defined contribution plans. The annuity market is well developed: 50 percent of annual contributions are allocated to the purchase of deferred annuities, while immediate annuities are also purchased at or even after retirement. However, detailed comprehensive data on the rate of annuitization are lacking. Distinct features of the Danish pension system include the widespread use of profit participating contracts with minimum guaranteed benefits and regular provision of bonuses, covering both the accumulation and payout phases, and extensive use of group deferred annuity contracts. A new traffic light system with periodic stress testing has resulted in greater emphasis on asset liability matching and hedging strategies by pension institutions and a shift in investment policies in favor of foreign bonds and long-term swap contracts.
Book Synopsis risk-based supervision of pension institutions in denmark by : Erik Brink Andersen
Download or read book risk-based supervision of pension institutions in denmark written by Erik Brink Andersen and published by World Bank Publications. This book was released on 2008 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: This paper examines the move towards risk-based supervision of pension institutions in Denmark. Although Denmark has not adopted a comprehensive model to assess risk it has developed a number of building blocks which it uses for risk-based assessment. The motivations for improving risk assessment include a desire to identify emerging problems, and concerns about the solvency of pension institutions. In Denmark there is extensive use of guaranteed minimum returns in both the accumulation and payout phases which create substantial obligations on pension institutions, and focus attention on the integrity and solvency of the institutions which provide them. In conjunction with freeing up investment restrictions and moving towards market valuation of assets, the supervisor has introduced a 'traffic light' stress test model which calculates the effect of several market scenarios - the red test which is the more plausible and the yellow test which is possible but less likely. In addition to the use of the traffic light system, there has been a growing emphasis on the adequacy of internal risk control systems and greater reliance on market discipline. Pension institutions have sought to reduce their exposure to market volatility by better matching of assets and liabilities. There is a much better understanding of the risks inherent in the pension institutions' portfolios, and there has been a substantial increase in the use of hedging instruments.
Book Synopsis The Danish Pension System and the Effects of Means Testing by :
Download or read book The Danish Pension System and the Effects of Means Testing written by and published by . This book was released on 2017 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Demographic Uncertainty and the Sustainability of the Danish Pension System by : Mads Børlum
Download or read book Demographic Uncertainty and the Sustainability of the Danish Pension System written by Mads Børlum and published by . This book was released on 2005 with total page 83 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Comparation of the Swiss and Danish Pension System by : Sarah Marissa Niederhauser
Download or read book Comparation of the Swiss and Danish Pension System written by Sarah Marissa Niederhauser and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Supplementary Pensions in Denmark - a Description of the Future Pension System by : ATP
Download or read book Supplementary Pensions in Denmark - a Description of the Future Pension System written by ATP and published by . This book was released on 1995 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis National Strategy Report on the Danish Pension System 2002 by : Danmark. Socialministeriet
Download or read book National Strategy Report on the Danish Pension System 2002 written by Danmark. Socialministeriet and published by . This book was released on 2002 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Recalibration of the Danish Old-Age Pension System by : Niels Ploug
Download or read book The Recalibration of the Danish Old-Age Pension System written by Niels Ploug and published by . This book was released on 2003 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pension reform in Denmark in the 1990s is of general interest owing to the development of a system of funded, defined contribution pension schemes based on collective agreement between the parties in the labour market. The resulting pension system seems to hold some answers to the critique of funded pension schemes. This paper analyses the process which led to the 1991 pension reform and relates the discussions and solutions found in Denmark to the international debate on pension reform.
Book Synopsis German Pension Reform by : Christina Benita Wilke
Download or read book German Pension Reform written by Christina Benita Wilke and published by Peter Lang. This book was released on 2009 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: The German pension system was the first formal pension system in the world, designed by Bismarck nearly 120 years ago. It has been very successful in providing high and reliable pension levels at reasonable contribution rates. While the generosity of the German pension system is considered a great social achievement, negative incentive effects of past reforms in the 1970s and 1980s and population aging are threatening the very core of the system. This has led to fundamental pension reforms since 1992. Based on a detailed simulation model of the German pension system, this book provides a thorough assessment of the system and its reforms. It shows that the latest reforms have put the system back onto a stable path and moved it from the old monolithic towards a multi-pillar system.
Download or read book Denmark, Selected Issues written by and published by . This book was released on 2002 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Danish Pension Funds and REITs by : Søren Grusgaard
Download or read book Danish Pension Funds and REITs written by Søren Grusgaard and published by . This book was released on 2006 with total page 138 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Do Danish Workers React to Incentives Embedded in the Danish Pension System? by : Ole Kiil Nielsen
Download or read book Do Danish Workers React to Incentives Embedded in the Danish Pension System? written by Ole Kiil Nielsen and published by . This book was released on 2010 with total page 71 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Pension Reform and Wealth Inequality by : Torben M. Andersen
Download or read book Pension Reform and Wealth Inequality written by Torben M. Andersen and published by . This book was released on 2022 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: A growing literature explores reasons for rising wealth inequality, but disregards the role of pension systems despite their well-understood influence on life-cycle saving. In theory and according to available evidence, both pay-as-you-go (PAYG) and fully-funded (FF) pension schemes crowd out voluntary retirement saving. They differ because aggregate savings decrease in the former but increase under the latter system. Unlike most nations, Denmark has seen a decline in wealth inequality in recent decades. This paper studies a calibrated life-cycle model of Denmark and employs unique registry data to argue that a Danish pension system transition, from a mostly PAYG to a dominant, mandated FF scheme, explains much of this decline
Book Synopsis Denmark by : International Monetary Fund
Download or read book Denmark written by International Monetary Fund and published by International Monetary Fund. This book was released on 2002-05-21 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper examines Denmark’s fiscal framework. It evaluates its sufficiency with respect to accommodating medium-to-long-term demographic spending increases and future challenges facing the tax system. It reviews the framework’s transparency, consistency and enforceability, taking into account local government responsibilities. The paper concludes that Denmark has already made commendable progress with public finance consolidation, changing relatively large budget deficits to solid surpluses and almost halving the debt-to-GDP ratio since 1993. The fiscal framework is transparent and appears to enjoy wide public acceptance.
Book Synopsis Pensions at a Glance 2009 Retirement-Income Systems in OECD Countries by : OECD
Download or read book Pensions at a Glance 2009 Retirement-Income Systems in OECD Countries written by OECD and published by OECD Publishing. This book was released on 2009-10-15 with total page 283 pages. Available in PDF, EPUB and Kindle. Book excerpt: This third edition of Pensions at a Glance updates in-depth information on the key features of mandatory pension systems—both public and private—in the 30 OECD countries, including projections of retirement income for today’s workers.
