Fund management and its effect in the Greek social security system
Economic and demographic slowdown has put under strain public pension systems around the globe. In this paper, we discuss the characteristics of the Greek social security system and investigate the issue of pension fund management. Our empirical analysis focuses on whether flexible investment rules...
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| Veröffentlicht in: | Journal of pension economics & finance 2009-10, Vol.8 (4), p.485-500 |
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| container_title | Journal of pension economics & finance |
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| creator | MILONAS, NIKOLAOS T. PAPACHRISTOU, GEORGE A. ROUPAS, THEODORE A. |
| description | Economic and demographic slowdown has put under strain public pension systems around the globe. In this paper, we discuss the characteristics of the Greek social security system and investigate the issue of pension fund management. Our empirical analysis focuses on whether flexible investment rules (including equity investment) could have taken the pressure off the Greek public pension system while reducing the risks associated with such flexibility. The empirical results of the paper suggest that efficient management of reserves can result in additional significant revenues at acceptable levels of financial risk. However, pension fund management flexibility cannot by itself resolve the problem of social security system. |
| doi_str_mv | 10.1017/S1474747207002855 |
| format | Article |
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| fulltext | fulltext |
| identifier | ISSN: 1474-7472 |
| ispartof | Journal of pension economics & finance, 2009-10, Vol.8 (4), p.485-500 |
| issn | 1474-7472 1475-3022 |
| language | eng |
| recordid | cdi_proquest_miscellaneous_21158682 |
| source | PAIS Index; Cambridge University Press Journals Complete |
| subjects | Bank deposits Central banks Equity Investments Pension funds Reforms Social security Treasury bills |
| title | Fund management and its effect in the Greek social security system |
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