International Handbook on Ageing and Public Policy
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International Handbook on Ageing and Public Policy

Sarah Harper, Kate Hamblin, Jaco Hoffman, Kenneth Howse and George Leeson

The International Handbook on Ageing and Public Policy explores the challenges arising from the ageing of populations across the globe for government, policy makers, the private sector and civil society. It examines various national state approaches to welfare provisions for older people, and highlights alternatives based around the voluntary and third-party sector, families and private initiatives. The Handbook is highly relevant for academics interested in this critical issue, and offers important messages for policy makers and practitioners.
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Chapter 10: Understanding pension wealth

Zhenyu Li and Anthony Webb


In most developed economies, the majority of retired households rely on public and employer pensions for most of their income. Although pensions are usually illiquid and cannot be traded, they represent a claim on economic resources. A comprehensive measure of household wealth therefore requires the inclusion of pension wealth. This chapter outlines methodologies for valuing pension wealth. Although it refers to the US pension system, the principles can be applied to the pension systems in most developed economies. It first considers the valuation of Social Security wealth, and then considers pension wealth in defined-benefit pension plans and issues relating to state and local plans, and concludes with a review of defined-contribution plans.

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