The decline of the traditional pension
Subtitle: a comparative study of threats to retirement security
By: George A. (Sandy) Mackenzie
Publisher: Cambridge University Press
Published: 2010
Place of publication: New York
Language: eng
Number of pages: 279
ISBN-13: 9780521518475
Description: "The traditional (final or average salary) pension that employers have provided their employees has suffered a huge decline in labor force coverage in the United Kingdom and the United States, and less severe declines in Canada and elsewhere. The traditional pension provides a precious measure of retirement security by paying retirees an annuity for life. This study compares developments in the countries just named and in Australia, Denmark, Germany, Japan, Netherlands, Sweden, and Switzerland to explain the forces behind the decline of the traditional pension and to contrast the experience of public sector employer-provided plans, where it remains dominant. Given the great value of the longevity insurance that the traditional plan provides, and the risks its diminished coverage entails, the book proposes a set of measures that either stem the decline or endow defined contribution pensions with some of the attributes of the traditional plan"--
Table of contents: title: Machine generated contents note: Introduction; Part I: 1. The development of employer-provided pensions; 2. The economics of occupational/employer-provided pension plans; 3. Issues in funding and investing; 4. Regulatory issues; 5. Public sector employer-provided pensions and recent innovations in the first tier; Part II: 6. The causes of decline; 7. Policies to address the decline of the traditional pension; 8. Summary and conclusions; Appendix 1. Ten country profiles; Appendix 2. Mathematical treatments and derivations.