Defined benefit
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The financial and economic crisis and pension systems: International experiences
There has been much discussion in the British general and specialised media over the last year on the adverse consequences of the economic and financial crisis on the British pension system. It should come as no surprise that the crisis has also adversely affected pension systems in most other countries too. This paper contributes to the current debate on pensions in the UK by discussing how
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Two Centuries of Royal Weddings and Unsustainable Pensions
As the latest Royal wedding draws ever nearer, media pundits ponder how the monarchy has evolved in recent decades and speculate about the impact this latest generation will have on a very British institution. We couldn’t possibly add anything of note to these idle musings but it’s intriguing to see how another British institution – the pension – has evolved alongside over the course
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Intergenerational Justice and the Financial and Economic Crisis
- According to Musgrave (1986), a politically sustainable relationship between contributions and benefits must be based on the principle of ‘proportional risk sharing’.
- The Musgrave Rule deserves renewed attention in light of the global financial and economic crisis.
- Its intuitive political appeal has already found expression in recent Swedish and German attempts to