Some Considerations Relevant to Prefunded Pensions in France
July 1, 1995
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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.
Subject: Expenditure, Financial institutions, Income, Insurance, Insurance companies, Labor, National accounts, Pension spending, Pensions
Keywords: banking firm, Europe, firm, fixed income, Income, Insurance, Insurance companies, life insurance company, market, Pension spending, Pensions, savings fund, savings plan, savings program, sponsoring company, worker, WP
Pages:
36
Volume:
1995
DOI:
Issue:
064
Series:
Working Paper No. 1995/064
Stock No:
WPIEA0641995
ISBN:
9781451848502
ISSN:
1018-5941
