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Public Expenditure on Pensions

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Abstract:

Public spending on cash old‐age pensions and survivors' benefits in the OECD increased 15% faster than the growth in national income between 1990 and 2007, from an average of 6.1% of gross domestic product (GDP) to 7.0%. Public pensions are often the largest single item of government expenditure, accounting for 17% of total government spending on average.

Document Type: Review Article

Publication date: 2011-03-01

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