TY  - RPRT
        AU  - Orszag, Mike
AU  - Snower, Dennis J.
        TI  - The Pension Transfer Program
        PY  - 2002/Jul/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 538
        UR  - https://www.iza.org/index.php/publications/dp538
        AB  - The paper examines the following pension reform strategy that aims to defuse the pension
time-bomb without giving rise to intergenerational conflict. Let people with rights to public
pensions have the option of using a portion of their potential pensions to provide employment
vouchers for employers that hire them. The policy is entirely voluntary; only those older
workers and those employers who wish to avail themselves of this option will do so. The
older workers retain the right to draw their public pensions and the employers have the right
not to employ them. In effect, the policy involves taking some of the funds that would have
financed public pensions and using them to provide employment subsidies. When a person
takes advantage of the PTP over a given period of time, he loses his pension rights over that
span and gains improved employment opportunities instead.
        KW  - pensions
KW  - employment subsidies
KW  - early retirement
KW  - inter-generational redistribution
        ER  -