Historical Development and Characteristics of Pension Systems
Review of Finance, 2017, No. Issue 6 (2), pp. 1321-1338, ISSN 1572-3097
18 Pages Posted: 17 Apr 2018
Date Written: October 2017
This study examines the development of pension systems based on the main classical models: capital-covering, cost-covering and mixed. Particular attention is paid to the types of pension savings, whereas analyzed in detail are corporate pension funds, independent pension funds and funds providing one-off lump sum at a certain age and upon retirement due to old age or disability. Presented are possible pension schemes and pension plans.
Keywords: pension systems, pension plan, pension scheme, pension fund
JEL Classification: I10, I13, I15
Suggested Citation: Suggested Citation