Some Considerations Relevant to Prefunded Pensions in France
Summary:
Increasing use of life insurance instruments and company-sponsored funds in France suggests that French households may be inclined to a greater reliance on financial savings as a source of retirement income. This paper examines the challenges imposed by an aging population on the pay-as-you-go basic and supplementary pension systems, the growth of life insurance and company-sponsored funds in the absence of a comprehensive legislation on prefunded pensions, and issues related to prefunding pension schemes, such as the possibility of an welfare enhancing transition to prefunding; effects on capital markets in view of the experience in other OECD countries; and the importance of the transportability of pensions and measures fostering competition in financial markets.
Series:
Working Paper No. 1995/064
Subject:
Expenditure Financial institutions Income Insurance Insurance companies Labor National accounts Pension spending Pensions
English
Publication Date:
July 1, 1995
ISBN/ISSN:
9781451848502/1018-5941
Stock No:
WPIEA0641995
Pages:
36
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