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Political risk with automatic adjustment mechanisms for social security: Is “automatic” really automatic?

Automatic adjustment mechanisms for social security systems are an innovative and dynamic policy for dealing with the risks that affect the financing of these systems.

Sweden has been a leader in this area, but a dozen countries have adopted such mechanisms. A presumed advantage of these mechanisms is that once the adjustment process has been put in place, politicians are no longer involved and political risk is eliminated. This paper investigates why automatic adjustment mechanisms have been overridden by politicians in some countries. Factors include the size of the adjustment required and the timing of elections.

Report:

2Turner-paper.pdf 198.75 kB

Author: Turner, John A. Pension Policy Center. United States.
ISSA, 2010
Topics: Social security financing
Events: 6th International Policy and Research Conference on Social Security "Emerging trends in times of instability: New challenges and opportunities for social security"
Regions: International
Language: English

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