Social Security and Saving: A Tentative Survey

摘要: 1. Of the many motives for personal saving, one is of special importance : accumulation sufficient assets to enable saver stop working at a particular age. 2. For much history only small few could make that dream come true, and prospect great number elderly people without adequate means support, together with desire share fruits growth older generations has led most governments establish compulsory schemes guaranteeing minimum income retired persons. 3. Two " pure systems may be envisaged first based on pay-as-you-go principle second full funding. In former, contributions paid each year by active participants are immediately used finance benefits, while in latter case fund manages individuals' their behalf they recover capital accrued earnings when retire.