In pay-as-you-go (PAYG) pension systems claims are tied to the development of GDP as well as wages and salaries. This not only makes economic sense, because the pensioner’s claims are tied to the volume of goods and services available, but provides considerably more reliability. While rates of return on financial markets fluctuate drastically and unpredictably, […]
About Erik Türk and David Mum
Mag. Erik Türk is an economist and pensions expert at the Austrian Federal Chamber of Labour, Vienna. Dr. David Mum is an economist and head of the department on research of the Union of salaried private sector employees in Vienna.