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http://www.itinerainstitute.org/en/issues/_issue/pensions/_paper/ageing-and-the-welfare-state-securing-sustainability/
Ageing and the Welfare State: Securing Sustainability
15 February 2010
Over the next four decades, increasing old-age dependency ratios exert an enormous upward pressure on welfare spending in most developed countries. As this is mainly due to existing unfunded public pension schemes, many countries have embarked on far-reaching reforms in this area, strengthening actuarial fairness, modifying indexation rules, adding elements of prefunding and, last but not least, attempting to extend the period of economic activity. Efforts to contain costs may also be relevant with regard to public expenditure on health and long-term care but, thus far, no country has started to really deal with these issues. This CESIFO paper discusses all these reform options in the light of securing a sustainable welfare state.

http://www.ifo.de/pls/guestci/download/CESifo%20Working%20Papers%202010/CESifo%20Working%20Papers%20January%202010/cesifo1_wp2916.pdf

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