- Accueil >
- Maalama Textuelle >
- Développement écon... >
- Développement écon... >
- Travail et Emploi >
- Retraite >
- Pensions, Purchasing-Power Risk, Inflation and Indexation
Pensions, Purchasing-Power Risk, Inflation and Indexation
Auteur :
Whitehouse
Edward
Date de publication : 27/01/2009
Type : Etude
Thème : Travail et Emploi
Couverture :
Maroc
URL Article :
http://www.olis.oecd.org/olis/2009doc.nsf/LinkTo/NT00000A3E/$FILE/JT03258853.PDFURL Source :
www.oecd.org 
Télécharger le document :
(1,59 MB) Pensions_Purchasing_Power_Risk_Inflation_and_Indexation.pdfRésumé/Sommaire :
The rapid rise in inflation in 2006-07 has attracted attention – once again – both to how pensions systems should react to changes in prices, and to how they do so in practice. Although inflation is now falling as a result of lower commodity prices and weakening demand, this brings with it the risk of deflation – falling prices – which also raises questions as to how pension systems should react.
Most OECD countries have a legislated commitment to indexation of pensions in payment. However, the empirical evidence in this paper shows that these rules have frequently been over-ridden. Furthermore, because indexation to price inflation rather than wage inflation is much more common – and wages can be expected to rise more rapidly than prices – the effect of following legislated indexation rules will be to reduce pensioner incomes compared with those of the working-age population. However, indexation to prices is less costly, allowing a larger initial pension than under earnings indexation for a given budget constraint.
This paper sets out current, national indexation policies and historical data on how pensions have been adjusted in practice. It examines different indexation policies: to prices, earnings or a mix of the two; the choice of the price index and progressive indexation (where smaller pensions are increased more rapidly than larger).
- Plan du site -
- HCP -
- CND -
- Qui sommes nous-
- FAQ-
- RSS
