Document Type
Working Paper
Publication Date
2004
Abstract
Rapid population aging is raising concerns about the sustainability of public pension systems in high-income countries. The first part of this study identifies the four factors that determine trends in public pension expenditures: population aging, pension benefit levels, the mean age at retirement, and the labor force participation rate. The second part presents projections to 2050 of the impact of demographic trends on public pension expenditures in the absence of changes in pension benefits, labor force participation, and age at retirement. These projections demonstrate that current trends are unsustainable, because without reforms population aging will produce an unprecedented and harmful accumulation of public debt.
DOI
10.31899/pgy1.1012
Language
English
Recommended Citation
Bongaarts, John. 2004. "Population aging and the rising cost of public pensions," Policy Research Division Working Paper no. 185. New York: Population Council. Version of record: https://doi.org/10.1111/j.1728-4457.2004.00001.x
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Demography, Population, and Ecology Commons, Gerontology Commons, International Public Health Commons, Labor Economics Commons