We examine forecast accuracy and efficiency of the Social Security Administration’s projections for cost rate, trust fund balance, trust fund ratio made during 1980-2020 with horizons up to 95 years. We find that the reported deterioration in the accuracy of the forecasts during 2010’s has...

The demographic transition is a phenomenon affecting many industrialized societies. These economies are experiencing a decline in mortality alongside low fertility rates - a situation that puts social security systems under severe pressure. To implement appropriate reform measures, adequate...

The primary purpose of this paper is to report estimates of the size and the social and demographic composition of the population of Poland, in the years 1997-2050, which takes into account the variables needed for modelling the effects of the 1999 pension reform. The total population is...

Increasing retirement ages in an automatic or scheduled way with increasing life expectancy at retirement is a popular pension policy response to continuous longevity improvements. The question addressed here is: to what extent is simply adopting this approach likely to fulfill the overall goals...

The New Zealand Superannuation Fund (NZSF) is one of New Zealand's largest publicly-owned financial assets. Its primary purpose is to act as an inter-generational tax smoothing vehicle, in order to assist future taxpayers cover the cost of providing the public pension, New Zealand Superannuation...

Industrialised economies are experiencing a decline in mortality alongside low fertility rates - a situation that puts social security systems under severe pressure. Population ageing is associated not only with longer periods of pension claims but also smaller cohorts eventually entering the...