The Capacity Of Public Pension

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The capacity of public pension for sufficient retirement income in the OECD European Countries

There are six types of sources of retirement income, namely work, social benefits, state pension, occupational pension, personal investments such as owned housing and personal pensions including donations and inheritance from family (Delsen and Reday, 1996). In addition, the public pension and workplace pension are considered the two largest predominant components. In this regard, this paper mainly focuses on the retirement income from Pay- As- You- Go (PAYG) financed public pension especially in 18 OECD European countries. Based on OECD pension indicators data set, there are three case attributes in this paper including
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Secondly, Haynes (2011) notices that the retirement incomes in Scandianvian countries are significantly different from other OECD nations as a result of the emergent protection for wome’s pension replacement rate, besides, the calculation of pensions relative to previous earnings has been changed in serval European countries (Arcanjo, 2011; Peeters et al., 2014). Thirdly, the income inequality among the elderly has a negative correlation with the retirement income (Brown and Prus, 2006; Dewilde, 2012). In this sense, the paper intends investigate these three logically causal conditions related to the capacity of pubilc pension for protecting sufficient retirement.

Critical realism
Given that this paper looks at a social scientific question, in addition, the social world is an open system influenced by multiple interactions, methods for complex systems are different from the experiments in a closed laboratory condition (Cilliers, 2000; Archer et al.,2013). According to Sayer (2000), unlike the traditional positivist approach, critical realists call for either conceptual or historical perspective to explore the outcome, thus, the causation of critical realism could be much more complex than one of positivism. More specifically, it is noticeable that in complex systems, the same causal
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