Encyclopedia of Gerontology and Population Aging

Living Edition
| Editors: Danan Gu, Matthew E. Dupre

Social Security: Long-Term Financing and Reform

  • Miguel Sánchez-RomeroEmail author
  • Alexia Prskawetz
Living reference work entry
DOI: https://doi.org/10.1007/978-3-319-69892-2_535-1

Definition

The term “social security: long-term financing and reform” is used to denote the analysis and study of policies oriented to guarantee the long-run sustainability of social security systems. Focusing on pension systems, the principle of the social security system is to guarantee benefits when retired that are financed by contributions during working ages. The sustainability of a social security system is guaranteed if benefits paid out are covered by contributions to the system. Alternatively, sustainability of a social security system may be less stringently defined by requiring that the debt per worker of the social security system remains constant over time. Based on future projections of liabilities and revenues of social security programs, different reform scenarios can be developed. Parametric reforms of social security systems are targeted toward changes in either benefits, or contributions, or retirement ages. Structural reforms of social security systems denote the...

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Copyright information

© Springer Nature Switzerland AG 2019

Authors and Affiliations

  1. 1.Wittgenstein Centre of Demography and Global Human Capital (IIASA, VID/ÖAW, WU) WienAustria
  2. 2.Institute of Statistics and Mathematical Methods in Economics, Research Unit EconomicsTU WienViennaAustria

Section editors and affiliations

  • Bernardo L. Queiroz
    • 1
  1. 1.Department of DemographyUniversidade Federal de Minas GeraisBelo HorizonteBrazil