If personal pension accounts or provident funds are invested in GDP-linked bonds, the payments that retirees receive in 25 years will reflect the growth rate of the economy – and that of the tax base – to that date, which all makes good sense. Sweden’s pension system recently created a link between national income growth and benefits, but the reforms did not include creating GDP-linked bonds, a natural adjunct to such a scheme.
如果将个人养老金或公积金投资于GDP连动式债券，退休者在25年间的收入将会反映出经济和税基的增长率——到那个时候，一切将合乎情理。瑞典最近在国家收入和效益之间建立一种联系，但是这项改革却没有包括GDP连动式债券，它应当成为如此一项计划中不可或缺的一部分。