Key Terms
- Support ratio: The number of people of working age compared with the number of people beyond retirement age.
- Participation rate: The proportion of the population that is in the labor force.
- Defined benefit: A pension linked to the employee's salary, where the risk falls on the employer to pay a contractual amount.
- Defined contribution: A pension dependent on the amount contributed and related investment performance, where the risk falls mainly on the employee.
Read more about this topic: Pensions Crisis
Famous quotes containing the words key and/or terms:
“The key to the age may be this, or that, or the other, as the young orators describe; the key to all ages is—Imbecility: imbecility in the vast majority of men, at all times, and even in heroes, in all but certain eminent moments: victims of gravity, customs and fear. This gives force to the strong,—that the multitude have no habit of self-reliance or original action.”
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