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Without future workers in the pipeline, many young workers view the mandatory pension system as a one-way intergenerational asset transfer.
Hungary, for instance, set up a mandatory pension system in 1998 to supplement the state scheme, with contributions deducted from wages and invested in a private fund.
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A reform in 1998 created a mandatory supplementary pension system, with contributions deducted from wages and invested in a private fund.
To cover the likely shortfall of public pensions, 13 countries now have mandatory private pension systems, in which workers are required to contribute a portion of their income to privately managed pension funds to supplement their public benefits.
In 1981, it redesigned its pension system around mandatory saving into individual accounts.
The Japanese media reported in 1998 that he had an extramarital affair with a television newscaster, and then in 2004 he was forced to step down as Democratic Party chief for failing to make mandatory payments into the national pension system.
Australia, which combines a low-cost, means-tested floor of public old-age poverty protection with a large, mandatory, and fully funded private pension system, scores in the top half of both indices.
We next relax the assumption that the collective pension system is mandatory and investigate the performance of individual investment plans in the market.
Kwan has also set up a joint venture with Hong Kong's largest mutual fund distributor, Pegasus, to capitalize on the territory's new defined-contribution pension system, known as the Mandatory Provident Fund.
Twenty percent of their salaries go into mandatory Central Provident Fund (CPF) accounts, Singapore's state pension system.
The debate on the sustainability of the Dutch pension system and the required reforms has initiated a discussion about introducing more individual choices to collective pension schemes.
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