Abstract
The pension systems that had appeared in Europe by 1900 had largely begun as publicly run funded systems (Bod, 1995). Since life insurance had been born much earlier, there would have been no particular difficulty with funded pension systems had two world wars and the Great Depression not destroyed them. The new pension systems had to start from scratch.
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© 2003 AndrĂ¡s Simonovits
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Simonovits, A. (2003). Unfunded systems. In: Modeling Pension Systems. Palgrave Macmillan, London. https://doi.org/10.1057/9780230597693_5
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DOI: https://doi.org/10.1057/9780230597693_5
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-4039-1525-2
Online ISBN: 978-0-230-59769-3
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