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Life expectancies are rapidly increasing and uncertain in all countries in Europe. To keep pension systems affordable, policy reforms are to be implemented which will encourage individuals to work longer. In this paper we analyze the impact of working and living longer on pension incomes in five...
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attention to the rules of retirement in Hungary since 1990. In every pension system, there exist two rules which determine how … the lifetime contribution (which is approximately proportional to the years of contributions) and the retirement age … a mandatory life insurance and life annuity system. More generally, we speak of flexible retirement if adding a year to …
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