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The development and Reform of Social Security Pensions:The Approach of the International Labour Office
Author(s) -
Gillion Colin
Publication year - 2000
Publication title -
international social security review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.349
H-Index - 28
eISSN - 1468-246X
pISSN - 0020-871X
DOI - 10.1111/1468-246x.00062
Subject(s) - social security , poverty , pension , economics , public economics , distortion (music) , balance (ability) , corporate governance , labour economics , economic growth , development economics , finance , market economy , engineering , medicine , amplifier , physical medicine and rehabilitation , cmos , electronic engineering
The reform and the development of pension schemes are affected by the values society places on the provision of income security in old age and the resources it is prepared to allocate for the purpose. This paper examines those values and the issues arising from them. The objective is to propose reforms which will simultaneously provide full coverage with good governance, prevent poverty in old age, and result in indexed, guaranteed and reliable pensions for those onaverage incomes, all with minimum economic distortion or adverse economic effects. The question of the most appropriate design has to be weighed against these other factors, which will determine not only what is feasible and what is not, but also where the most desirable balance lies. The optimum structure would seem to involve a mix of defined benefit and defined contribution schemes.