The Ageing Challenge in Norway: Ensuring a Sustainable Pension and Welfare System
Norway will face a fast maturing old age pension scheme over the 30 next years whereas oil revenues will supply only a part of implicit liabilities related to the present generation. This working paper examines the recently proposed new measures to strengthen long term fiscal sustainability in Norwa...
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2006
|
| Schriftenreihe: | OECD Economics Department Working Papers
no.480 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | Norway will face a fast maturing old age pension scheme over the 30 next years whereas oil revenues will supply only a part of implicit liabilities related to the present generation. This working paper examines the recently proposed new measures to strengthen long term fiscal sustainability in Norway. Even though a broad agreement was reached in the parliament on the proposed principles of pension reform, crucial elements are still under discussion, among these the decision on a flexible retirement age based on actuarially fair notional accounts and the strength of the link between income and benefits. Estimated savings arising from strengthened work incentives introducing a longevity coefficient and less generous indexation are three percentage points of GDP over the long term compared to an expected nine percentage points of GDP financing gap for welfare spending. For the proposals to have maximum impact, public subsidies to existing early retirement schemes should be removed and eligibility for disability pensions and long-term sick leaves tightened. This paper relates to the 2005 OECD Economic Survey of Norway (www.oecd.org/eco/surveys/norway). |
| Beschreibung: | 1 Online-Ressource (46 p.) 21 x 29.7cm. |
| DOI: | 10.1787/600718358800 |
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| spelling | Bellone, Benoît VerfasserIn aut The Ageing Challenge in Norway Ensuring a Sustainable Pension and Welfare System Benoît, Bellone and Alexandra, Bibbee = Le défi du vieillissement en Norvège : Assurer un système de retraite et de protection sociale soutenable / Benoît, Bellone et Alexandra, Bibbee Le défi du vieillissement en Norvège Paris OECD Publishing 2006 1 Online-Ressource (46 p.) 21 x 29.7cm. Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Economics Department Working Papers no.480 Norway will face a fast maturing old age pension scheme over the 30 next years whereas oil revenues will supply only a part of implicit liabilities related to the present generation. This working paper examines the recently proposed new measures to strengthen long term fiscal sustainability in Norway. Even though a broad agreement was reached in the parliament on the proposed principles of pension reform, crucial elements are still under discussion, among these the decision on a flexible retirement age based on actuarially fair notional accounts and the strength of the link between income and benefits. Estimated savings arising from strengthened work incentives introducing a longevity coefficient and less generous indexation are three percentage points of GDP over the long term compared to an expected nine percentage points of GDP financing gap for welfare spending. For the proposals to have maximum impact, public subsidies to existing early retirement schemes should be removed and eligibility for disability pensions and long-term sick leaves tightened. This paper relates to the 2005 OECD Economic Survey of Norway (www.oecd.org/eco/surveys/norway). Economics Norway Bibbee, Alexandra MitwirkendeR ctb FWS01 ZDB-13-SOC FWS_PDA_SOC https://doi.org/10.1787/600718358800 Volltext |
| spellingShingle | Bellone, Benoît The Ageing Challenge in Norway Ensuring a Sustainable Pension and Welfare System Economics Norway |
| title | The Ageing Challenge in Norway Ensuring a Sustainable Pension and Welfare System |
| title_alt | Le défi du vieillissement en Norvège |
| title_auth | The Ageing Challenge in Norway Ensuring a Sustainable Pension and Welfare System |
| title_exact_search | The Ageing Challenge in Norway Ensuring a Sustainable Pension and Welfare System |
| title_full | The Ageing Challenge in Norway Ensuring a Sustainable Pension and Welfare System Benoît, Bellone and Alexandra, Bibbee = Le défi du vieillissement en Norvège : Assurer un système de retraite et de protection sociale soutenable / Benoît, Bellone et Alexandra, Bibbee |
| title_fullStr | The Ageing Challenge in Norway Ensuring a Sustainable Pension and Welfare System Benoît, Bellone and Alexandra, Bibbee = Le défi du vieillissement en Norvège : Assurer un système de retraite et de protection sociale soutenable / Benoît, Bellone et Alexandra, Bibbee |
| title_full_unstemmed | The Ageing Challenge in Norway Ensuring a Sustainable Pension and Welfare System Benoît, Bellone and Alexandra, Bibbee = Le défi du vieillissement en Norvège : Assurer un système de retraite et de protection sociale soutenable / Benoît, Bellone et Alexandra, Bibbee |
| title_short | The Ageing Challenge in Norway |
| title_sort | ageing challenge in norway ensuring a sustainable pension and welfare system |
| title_sub | Ensuring a Sustainable Pension and Welfare System |
| topic | Economics Norway |
| topic_facet | Economics Norway |
| url | https://doi.org/10.1787/600718358800 |
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