Article

Structure and Performance of Defined Benefit Schemes

Warren McGillivray

in The Oxford Handbook of Pensions and Retirement Income

Published in print July 2006 | ISBN: 9780199272464
Published online September 2009 | | DOI: http://dx.doi.org/10.1093/oxfordhb/9780199272464.003.0012

Series: Oxford Handbooks in Business and Management C

 Structure and Performance of Defined Benefit Schemes

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This article first describes the nature of these public defined benefit (DB) pension schemes and how they operate. The second section focuses on the financing of these plans, which generally operate on a pay-as-you-go basis. The third section uses Germany and France as examples to explain how today's public pension schemes emerged in their current form. The fourth section explores the demographic, economic, and political risks faced by DB schemes. The fifth section discusses the fundamental ways that governments can respond to the challenges of financing DB pensions. The conclusion is that the options are limited and difficult.

Keywords: defined benefit; pension scheme; political risk; demographic risk; DB pension

Article.  7314 words. 

Subjects: Business and Management ; Human Resource Management

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