Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/201372
Title (translated): 
Pension Funds and Risk-sharing in the Finnish Earnings-related Pension System
Authors: 
Lassila, Jukka
Valkonen, Tarmo
Year of Publication: 
2019
Series/Report no.: 
ETLA Report 90
Abstract (Translated): 
We study the use of pension funds in the Finnish earnings-related pension system with the aim of smoothing contributions over time under demographic and economic risks. Smoothing is affected by the revisions in long-term forecasts and is thus imperfect. As a partially funded defined-benefit system, demographic risks and asset yield risks directly affect the contributions. In a general equilibrium setup, these risks also affect wages and thus pension benefits and replacement rates. We also consider alternative benefit rules where risks are transferred more to the pensioners.
Subjects: 
Pensions
Funding
Contribution smoothing
Risks
Generational fairness
JEL: 
E17
H55
Document Type: 
Research Report

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.