Enhancing pension adequacy while reducing the fiscal budget and creating essential capital for domestic investments and growth: Analysing the risks and outcomes in the case of Greece

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Abstract

Many countries around the world are resorting to mandatory funded components in their multi-pillar pension systems with the purpose of catering for the financial pressure from ageing. This paper aims at analysing the possible replacement rates for such a scheme, by choosing different assumptions and setting the best combined area for the expected result. Then, an approach for analysing the potential for the implementation of such a scheme in Greece is presented along with the actuarially projected expected benefit expenditure and respective accrued capital. A result of the introduction of such a component is expected to be the elevated replacement rate at retirement with a concurrent alleviation of the fiscal burden for the state. The projected scale of savings will also provide domestic financing for investments generating growth.

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Symeonidis, G., Tinios, P., & Xenos, P. (2021). Enhancing pension adequacy while reducing the fiscal budget and creating essential capital for domestic investments and growth: Analysing the risks and outcomes in the case of Greece. Risks, 9(1), 1–17. https://doi.org/10.3390/risks9010008

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