|
As percentage of gross domestic product (GDP).
(1) Pensions at a Glance 2013; OECD and G20 Indicators. OECD, 2013.
http://dx.doi.org/10.1787/pension_glance-2013-en
(At page 81 is "Figure 2.14. Homeownership and pension expenditure" whose x-axis was "Public pension expenditures, % of GDP")
(a) The number for "public pension" of each and every nation is generally accepted (CHE = Chile). But what does "public pension" means here.
(i) Pensions Glossary. OECD, 2005 (ISBN 92-64-01699-6).
www.oecd.org/finance/private-pensions/2496718.pdf
Quote:
"142. [term] Private pension funds[:] A pension fund that is regulated under private sector law.
"143. Private pension plans[:] A pension plan administered by an institution other than general government. Private pension plans may be administered directly by a private sector employer acting as the plan sponsor, a private pension fund or a private sector provider. Private pension plans may complement or substitute for public pension plans. In some countries, these may include plans for public sector workers.
"147. Public pension plans[:] Social security and similar statutory programmes administered by the general government (that is central, state, and local governments, as well as other public sector bodies such as social security institutions). Public pension plans have been traditionally PAYG [pay-as-you-go] financed, but some OECD countries have partial funding of public pension
liabilities or have replaced these plans by private pension plans.
(ii)
(A) This is made crystal clear when the example of United States is used, which we are all familiar with, because we live here.
Pension Country Profile: United States (Extract from the OECD Private Pensions Outlook 2008). at page 301.
www.oecd.org/finance/private-pensions/42575094.pdf
("The Social Security Administration: administer the public pension system")
(B) Furthermore. In 2015 fiscal year, US federal government paid out $877 billion (accounting for 5% of GDP or almost a quarter of federal budget) of social security -- 84% to Old Age and Survivors Insurance (IASI), and 16% to Disability Insurance (DI)).
(C) In this light, you will appreciate the data about other nations who are not members of OECD. See
Long-Term Projections of Public Pension Expenditure. In Pensions at a Glance 2011; Retirement-income Systems in OECD and G20 Countries. OECD, 2011
http://dx.doi.org/10.1787/pension_glance-2011-32-en
(At page 158: "In Slovenia, spending [on public pension] will increase nearly as rapidly, from 10.1% of GDP in 2010 to [projected] 18.6% in 2060" -- referring to The table in the following page that shows "public expenditure on pensions" in 2010 (as percentage of GDP): Germany (10.2%), Korea (0.9%), UK (6.7%), US (4.6%) together with China (2.2%).
(b) The term "public pension" is confusing, as some authors and organizations (such as OECD) mean it for American style of social security, while some others (in both US and Europe) apply it to mean public sector pension (ie, pension for public-sector employees).
(c) The Economist uses "pension section pension" explicitly, to avoid the confusion. See
Public-sector pensions | Unsatisfactory State; As workers in the private sector are losing their final-salary pensions, public employees are being shielded from the true cost of provision for old age. Economist, July 9, 2009.
There is no need to read the Economist article. You have to know only that The Economist uses this term.
|
发表于 1-2-2016 17:26:39
收藏
分享
支持
反对
楼主