Measuring the multidimensional adequacy of pension systems in European countries

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dc.contributor.authorChybalski, Filip
dc.contributor.organizationLodz University of Technologyen
dc.date.accessioned2014-04-13T19:51:22Z
dc.date.available2014-04-13T19:51:22Z
dc.date.issued2012
dc.description.abstractThe paper presents a multidimensional approach to the adequacy of the pension system, recognising it as the most relevant in comparative analyses of pension systems, as well as more authoritative than a one-dimensional approach based exclusively on pensioners’ income calculated on the basis of the replacement rate. Adequacy of the pension system can be also understood to mean the effectiveness of pension system when assessing its ability to realize income objectives. Starting from the micro- and macro functions of the pension system, OMC and World Bank objectives in terms of pension adequacy, and taking into account the indicators used by the European Commission to monitor the attainment of OMC objectives, the paper presents the overall concept of multidimensional adequacy of a pension system. Three dimensions of adequacy are defined: income, poverty, and differentiation of pensioners’ material situation by gender. Next, sub-indicators measuring the individual dimensions of adequacy are proposed, along with an aggregation procedure based on the tools of multidimensional statistical analysis. First the sub-indicators are aggregated into synthetic indicators for individual dimensions, and finally the synthetic indicators for individual dimensions are aggregated into a single synthetic indicator of the adequacy of the pension system (APS). Based on the proposed procedure, the adequacy of the pensions systems of 26 European countries is measured, and the quality of this measurement is assessed.en
dc.description.epersonFilip Chybalski
dc.identifier.citationChybalski F., Measuring the multidimensional adequacy of pension systems in European countries, Discussion Paper PI -1204, The Pensions Institute, Cass Business School, City University London, 2012.en
dc.identifier.issn1367-580X
dc.identifier.urihttps://open.icm.edu.pl/handle/123456789/3945
dc.language.isoenen
dc.publisherPensions Institute, Cass Business School, City University Londonen
dc.rightsDozwolony użytek
dc.subjectconsumption smoothingen
dc.subjectadequacyen
dc.subjectretirementen
dc.subjectpensionen
dc.titleMeasuring the multidimensional adequacy of pension systems in European countriesen
dc.typeotheren
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