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An Evaluation Of Social Insurance Savings Accounts

Author: STEFAN FÖLSTER
Published in PFM, Vol. 1 No. 4

Many countries have reformed, or plan to reform, their pension
system, often replacing defined benefits with some sort of savings
account. In recent years proposals have been made to apply personal
savings accounts also to other elements of social insurance, such as unemployment
insurance, social assistance or parental leave compensation.
This paper evaluates the consequences of replacing these systems with an
insured social insurance savings account. Effects on marginal tax levels
and income distribution are analyzed using both income panel data for
Sweden and a simulated sample.

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