We find that the means-tested pension system is welfare reducing, but does provide a better outcome than a PAYG system of equivalent cost. We also find that if the benefit amount is held constant, and hence the cost of the pension programme is allowed to vary, a taper rate of 1.0 is ...
A full pension (equivalent to roughly a quarter of the average wage) is currently paid to more than half the aged population, and a reduced pension is paid to another quarter of the aged population. About 20 percent receive no old-age public pension because of the level of their income ...
The first hypothetical policy that we simulate using our overlapping generations model is the complete removal of the means test for the age pension. In this policy scenario, the three household types aged 65 years and over receive the universal age pension (i.e., the maximum age pension, p...
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In its first two terms of office, the Government increased the standard rate of pension from 22.7% of average weekly earnings to 24.4%. The Government will seek to make further increases where economic circumstances permit. At the same time, the Government has the objective of restoring parity ...
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Specifically, I propose that we commit 60 percent of the budget surplus for the next 15 years to Social Security, investing a small portion in the private sector just as any private or state government pension would do. This will earn a higher return and keep Social Security sound for 55 ...
Besides, with the improvement of the pension system in China, elderly people today depend less on their offspring, and thanks to the continuous increase in the number of well- educated and financially independent women, quite a few young women consider marriage more of an option than a necessity...
the average growth rate across all advanced economies combined has been predicted to be only 2.5 per cent (IMF, 2007). From 2006 to 2007, the annual economic growth rate declined in most advanced economies: Germany (2.9 to 2.4 per cent), France (2.0 to 1.9 per cent), Italy (1.9 ...
Each person adopting one or more cats on a single day was counted as one adopter for the calculation of the response rate. This was calculated as the number of adopters who were enrolled and completed the first questionnaire during the study period as a proportion of the total number of ...