A conceptual framework to design sustainable pension policy

Abstract

: A conceptual framework to design sustainable pension policy is offered to tackle the interplays between different determinants from the perspective of economic policy and the concept of sustainable development. The investigation of the main socio-economic determinants presented in the literature resulted in the designing of a holistic conceptual framework, which is designed to support decision-makers and researchers who need to understand the determinants of specific policy programmes and their long-term socio-economic consequences. As a result, it helps to determine and design a sustainable pension policy. The sustainable framework emphasises the ideological background for the economic debates, historical paths plotted in the path-dependence 4S framework and the key arguments for and against the funded and unfunded pension schemes. The sustainable conceptual framework emphasises the multiple objectives of pension policy, resource flows and the capital formation debate in economics, as well as the global perspective of capital flows.