On Improving the Greek Social Security System Via Equity Investment
22 Pages Posted: 26 May 2004
Date Written: January 25, 2004
Economic and demographic slowdown has put under strain public pension systems around the globe. The actuarial balance of the PAYG system can only be restored by reshuffling its parameters and by attaining a higher return on its reserves. In this paper we investigate the extent to which an acceptable use of stock market opportunities could have relieved the pressure off the Greek public pension system while reducing the risks associated with such an exercise.
Keywords: PAYG system, pension fund reserves, social security system, random generation process, equity investment
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