From Generosity to Sustainability : the Austrian Pension System and Options for its Reform /
Austria has probably the world's highest pension expenditures relative to its economic size, largely because of the generosity of its pension system. This paper examines the institutional setup of the Austrian pension system and projects its future development based on current policies. The pro...
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| Format: | Book |
| Language: | English |
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Washington, D.C. :
International Monetary Fund,
1997
Washington, D.C. : 1997 |
| Series: | IMF Working Papers ;
Working Paper No. 97/10 IMF Working Papers ; Working Paper no. 97/10 IMF Working Papers; Working Paper ; No. 1997/010 IMF eLibrary |
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| Summary: | Austria has probably the world's highest pension expenditures relative to its economic size, largely because of the generosity of its pension system. This paper examines the institutional setup of the Austrian pension system and projects its future development based on current policies. The projection results show a swift financial worsening. With the already high level of contribution rates, pension expenditures, and budget transfers, the results underscore the need for reform. Much of this reform can, however, be achieved by maintaining the structure of the system and adjusting some of its key parameters. The paper outlines options for such a reform Austria has probably the world’s highest pension expenditures relative to its economic size, largely because of the generosity of its pension system. This paper examines the institutional setup of the Austrian pension system and projects its future development based on current policies. The projection results show a swift financial worsening. With the already high level of contribution rates, pension expenditures, and budget transfers, the results underscore the need for reform. Much of this reform can, however, be achieved by maintaining the structure of the system and adjusting some of its key parameters. The paper outlines options for such a reform |
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| Item Description: | Available in PDF, ePUB, and Mobi formats on the Internet Bibliographic Level Mode of Issuance: Monograph Part of the IMF eLibrary collection |
| Physical Description: | 1 online resource (30 pages) |
| ISBN: | 1-281-60390-2 1-4518-9081-8 1-4527-5434-9 1-4623-7532-4 1281603902 1451842651 1451842651: 1451890818 1452754349 1462375324 6613784591 9781281603906 9781451842654 9781451890815 9781452754345 9781462375325 9786613784599 |
| ISSN: | 1018-5941 2227-8885 2227-8885 ; |
| Access: | Restricted for use by site license Restricted for use by site license. |