Ageing And Pension Reform Around The World

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Ageing and Pension Reform Around the World

Giuliano Bonoli,Toshimitsu Shinkawa
Ageing and Pension Reform Around the World Book PDF

Author : Giuliano Bonoli,Toshimitsu Shinkawa
Publisher : Edward Elgar Publishing
Page : 292 pages
File Size : 54,9 Mb
Release : 2006-01-01
Category : Social Science
ISBN : 9781845423377

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Ageing and Pension Reform Around the World by Giuliano Bonoli,Toshimitsu Shinkawa Pdf

This is an admirable example of a multi-authored comparative book. The two editors set the scene very carefully in the opening chapter and the subsequent chapters follow the framework set out and use the concepts explored there. In this never simple policy area, national systems are explained as clearly as possible by each author. Michael Hill, Journal of Social Policy This is an enlightening introduction to the global dimensions and complexity of pension reform. Recommended. J.F. O Connell, Choice Population ageing and the resulting pressures on existing pension systems constitutes one of the most important challenges modern societies will have to face over the coming decades. Although governments have responded to such pressures by adopting a plethora of pension reforms, the adaptation process is far from over. This book comprehensively documents developments in pension policy in eleven advanced industrial countries in Western Europe, East Asia and North America. In order to explore what population ageing means for the sustainability of pension systems, the authors present a detailed review of pension policy making over the past two decades and provide up-to-date analysis of current pension legislation. They examine the factors that can facilitate or impede the adaptation of pension systems and the features that shape and determine reforms. They also highlight the fact that although the path of reform taken by each country is somewhat different, the processes at work are often very similar. Ageing populations throughout the world are extremely reluctant to see their pension systems dismantled and are therefore prepared to mobilise in their defence. This process of mobilisation interacts with demographic pressures and institutional constraints to help determine the future direction of pension policy. The breadth of geographic coverage provides an almost global picture of the impact of ageing on pension reform, at least in terms of high income countries. Academics and students with an interest in economics, social policy, sociology and political science will find this a worthwhile and rewarding volume. It will also be of value to policymakers interested in how the problem of unsustainable pension systems can be resolved.

Old-age Income Support in the 21st Century

Robert Holzmann
Old age Income Support in the 21st Century Book PDF

Author : Robert Holzmann
Publisher : World Bank Publications
Page : 246 pages
File Size : 55,7 Mb
Release : 2005-01-01
Category : Business & Economics
ISBN : 9780821360408

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Old-age Income Support in the 21st Century by Robert Holzmann Pdf

The past decade has brought an increasing recognition to the importance of pension systems to the economic stability of nations and the security of their aging populations. This report attempts to explain current policy thinking and update the World Bank's perspective on pension reform. This book incorporates lessons learned from recent Bank experiences and research that have significantly increased knowledge and insight regarding how best to proceed in the future. The book has a comprehensive introduction and two main parts. Part I presents the conceptual underpinnings for the Bank's thinking on pension systems and reforms, including structure of Bank lending in this area. Part II highlights key design and implementation issues where it signals areas of confidence and areas for further research and experience, and includes a section on regional reform experiences, including Latin American and Europe and Central Asia.

Pension Reform and the Development of Pension Systems

Emily S. Andrews
Pension Reform and the Development of Pension Systems Book PDF

Author : Emily S. Andrews
Publisher : World Bank Publications
Page : 198 pages
File Size : 46,7 Mb
Release : 2006
Category : Business & Economics
ISBN : 9780821365526

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Pension Reform and the Development of Pension Systems by Emily S. Andrews Pdf

"Formal pension systems are an important means of reducing poverty among the aged. In recent years, however, pension reform has become a pressing matter, as demographic aging, poor administration, early retirement, and unaffordable benefits have strained pension balances and overall public finances. Pension systems have become a source of macroeconomic instability, a constraint to economic growth, and an ineffective and/or inequitable provider of retirement income."

Social Security Programs and Retirement around the World

Axel Börsch-Supan,Courtney C. Coile
Social Security Programs and Retirement around the World Book PDF

Author : Axel Börsch-Supan,Courtney C. Coile
Publisher : University of Chicago Press
Page : 481 pages
File Size : 50,7 Mb
Release : 2021-03-05
Category : Business & Economics
ISBN : 9780226674247

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Social Security Programs and Retirement around the World by Axel Börsch-Supan,Courtney C. Coile Pdf

This ninth phase of the International Social Security project, which studies the experiences of twelve developed countries, examines the effects of public pension reform on employment at older ages. In the past two decades, men’s labor force participation at older ages has increased, reversing a long-term pattern of decline; participation rates for older women have increased dramatically as well. While better health, more education, and changes in labor-supply behavior of married couples may have affected this trend, these factors alone cannot explain the magnitude of the employment increase or its large variation across countries. The studies in this volume explore how financial incentives to work at older ages have evolved as a result of public pension reforms since 1980 and how these changes have affected retirement behavior. Utilizing a common template to analyze the developments across countries, the findings suggest that social security reforms have strengthened the financial returns to working at older ages and that these enhanced financial incentives have contributed to the rise in late-life employment.

New Ideas about Old Age Security

Robert Holzmann
New Ideas about Old Age Security Book PDF

Author : Robert Holzmann
Publisher : World Bank Publications
Page : 520 pages
File Size : 46,8 Mb
Release : 2001
Category : Business & Economics
ISBN : UOM:39015049736997

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New Ideas about Old Age Security by Robert Holzmann Pdf

Printed on Demand. Limited stock is held for this title. If you would like to order 30 copies or more please contact [email protected] Contact [email protected], if currently unavailable. Policymakers worldwide are struggling to adapt their pension systems to the reality of aging populations, globalization, and tightening budgets. The World Bank actively supports these policymakers by helping them to identify the economic and demographic challenges facing them to highlighting potential policy responses and providing implementation support. New Ideas about Old Age Security is a selection of papers presented at a conference in September 1999 convened by the World Bank and attended by leading academics and policymakers from around the world. These papers, which have subsequently been revised, contain a sample of the most recent thinking in the global debate over pension reform. The papers in this volume explore a wide variety of pension reform issues. Some of the topics covered in this book include new approaches to multi-pillar pension reform, the relevance of index funds for pension investment in equities, and managing public pension reserves.

Sustainability of Pension Systems in the New EU Member States and Croatia

Leszek Kasek,Thomas Laursen,Emilia Skrok
Sustainability of Pension Systems in the New EU Member States and Croatia Book PDF

Author : Leszek Kasek,Thomas Laursen,Emilia Skrok
Publisher : World Bank Publications
Page : 48 pages
File Size : 48,5 Mb
Release : 2008-02-01
Category : Business & Economics
ISBN : 0821373706

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Sustainability of Pension Systems in the New EU Member States and Croatia by Leszek Kasek,Thomas Laursen,Emilia Skrok Pdf

This study finds that pension reforms in recent years have improved the efficiency and sustainability of pension systems in the new member states of the European Union and Croatia. However, for many countries, these probably have not gone far enough to ensure long-term sustainability, given the aging of the population. Reforms have included changes to Pay-As-You-Go (PAYG) systems, including increases in retirement ages (not at least for women), new benefit formulas, and new indexation mechanism. Some countries (Latvia and Poland) have further strengthened the link of contributions and benefits to the sustainability of the PAYG system through the introduction of national defined contribution accounts. The link is strengthened also by moving to a point system, which has been adopted by many of the countries. Several countries have introduced a second, private, pension pillar, funded through diversion of part of the pension contributions, thereby diversifying risk. However, some countries (in particular the Czech Republic, Slovenia, and Romania) will need to do more to safeguard the long-term viability of their pension systems, while others face challenges to ensure equitable pension systems and adequate living standards for all elderly people.

Equitable and Sustainable Pensions

Mr.Benedict J. Clements,Frank Eich,Mr.Sanjeev Gupta
Equitable and Sustainable Pensions Book PDF

Author : Mr.Benedict J. Clements,Frank Eich,Mr.Sanjeev Gupta
Publisher : International Monetary Fund
Page : 432 pages
File Size : 55,8 Mb
Release : 2014-03-08
Category : Business & Economics
ISBN : 9781616359508

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Equitable and Sustainable Pensions by Mr.Benedict J. Clements,Frank Eich,Mr.Sanjeev Gupta Pdf

Pension reform is high on the agenda of many advanced and emerging market economies, for many reasons. First, public pensions often constitute a large share of government expenditure. Second, population aging means that reforms would be needed just to keep pension spending from rising in the future. Third, in many economies, low or falling pension coverage will leave large segments of the population without adequate income in old age and at risk of falling into poverty. Although a number of studies have assessed the effects of pension reforms on fiscal sustainability, a systematic analysis of equity issues in pension systems—and how countries have grappled with these issues—has yet to be undertaken. This book brings together the latest research on equity issues related to pension systems and pension reforms in the post-crisis world. Some of the key issues covered include: the effect of pension systems on intergenerational equity and the impact of pension reforms on poverty, the effects of pension reform measures on fiscal sustainability and equity, and the fiscal consequences of achieving different equity goals. It also presents country case studies. The volume provides a rich menu of material to assist policymakers and academic audiences seeking to understand the latest research in this area, as well as the lessons and challenges for the design of reforms.

Old Age Security

Ramgopal Agarwala
Old Age Security Book PDF

Author : Ramgopal Agarwala
Publisher : World Bank Publications
Page : 104 pages
File Size : 43,9 Mb
Release : 1997-01-01
Category : Business & Economics
ISBN : 0821340778

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Old Age Security by Ramgopal Agarwala Pdf

The seventh edition of this annual report reviews the long-term prospects for developing countries in light of changes in the global environment and provides a detailed discussion of selected aspects of the global integration process in those countries. The first chapter evaluates prospects for the major elements of the external environment affecting developing countries and the medium-to-long-term outlook for developing countries themselves. The report forecasts that the external environment for developing countries remains broadly favorable. Among the main policy challenges faced by these countries is their ability to adapt to long-run shifts in market opportunities and heightened competitive pressures brought on by global trade liberalization--now increasingly focused on liberalization of trade in services--rising global production, and other forms of global integration. The chapter considers the implications for the world economy of rapid growth and integration in large developing countries such as China, India, and Brazil in the period to 2020. The second chapter looks at the move toward greater globalization of production, broadly defined as cross-border production by multinational enterprises and their networks of affiliates, subcontractors, and other partners. Within this context, the chapter addresses the significance of global production in world output in main groups of countries and economic sectors; factors driving the trend toward global production, including heightened competition, worldwide policy liberalization, and rapid technological progress; the benefits that developing countries can derive from global production, such as new technologies and improved efficiency practices; and the issues for policymakers seeking to enhance participation in global production and maximize its benefits for host countries.

Pensions: Challenges and Reforms

Einar Overbye
Pensions Challenges and Reforms Book PDF

Author : Einar Overbye
Publisher : Routledge
Page : 256 pages
File Size : 52,7 Mb
Release : 2017-11-28
Category : Business & Economics
ISBN : 9781351151795

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Pensions: Challenges and Reforms by Einar Overbye Pdf

Throughout the developed world, public and private pension schemes face major challenges that are creating irresistible pressures for reform. Major structural changes in Latin America and in Central and Eastern Europe have led to particularly fierce pressure. Two member states of the European Union - Italy and Sweden - have introduced radical reform of their public pensions systems; controversial pension reforms have been proposed in France and Germany; and the British government has been widely criticized over its pension reforms and its 2002 white paper. This exceptional volume examines the challenges faced by pension schemes in the advanced economies and the reforms that have been introduced to tackle these challenges. A team of international contributors provides an up-to-date, invaluable analysis of different aspects of pension problems, prospects and reforms. The book incorporates cross-national chapters as well as a focus on individual countries including Belgium, Brazil, Colombia, Finland, Greece, Italy, Sweden, the UK and the USA.

Aging Population, Pension Funds, and Financial Markets

Robert Holzmann
Aging Population Pension Funds and Financial Markets Book PDF

Author : Robert Holzmann
Publisher : World Bank Publications
Page : 184 pages
File Size : 55,5 Mb
Release : 2009
Category : Business & Economics
ISBN : 9780821377321

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Aging Population, Pension Funds, and Financial Markets by Robert Holzmann Pdf

Population aging will affect the performance of pension funds and financial markets in the former transition economies and require determined policy actions to complete financial market development and to promote financial literacy through education.

Progress and Challenges of Nonfinancial Defined Contribution Pension Schemes

Robert Holzmann,Edward Palmer,Robert Palacios,Stefano Sacchi
Progress and Challenges of Nonfinancial Defined Contribution Pension Schemes Book PDF

Author : Robert Holzmann,Edward Palmer,Robert Palacios,Stefano Sacchi
Publisher : World Bank Publications
Page : 489 pages
File Size : 50,8 Mb
Release : 2019-10-21
Category : Business & Economics
ISBN : 9781464814549

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Progress and Challenges of Nonfinancial Defined Contribution Pension Schemes by Robert Holzmann,Edward Palmer,Robert Palacios,Stefano Sacchi Pdf

The individual account-based but unfunded approach to mandated public pension systems is a reform benchmark for all pension schemes, promising fair and financially sustainable benefits. Nonfinancial defined contribution (NDC) pension schemes originated in Italy and Sweden in the 1990s, were then adopted by Latvia, Norway, and Poland, envisaged but not implemented in various other countries, such as Egypt and Russia, and remain under discussion in many nations around the world, such as China and France. In its complete form, the approach also comprises budget-financed basic income provisions and mandated or voluntary funded provisions. Volume 1 of this book offers an assessment of countries that were early adopters before addressing key aspects of policy implementation and design review, including how best to combine basic income provisions with an NDC scheme, how to deal with heterogeneity in longevity, and how to adjust NDC scheme design and labor market policies to deliver on reform expectations. Volume 2 addresses a second set of issues, including the gender pension gap and what family policies can do about it within the NDC framework, labor market issues and administrative challenges of NDC schemes and how countries are coping, the role of communication in these pension schemes, the complexity of cross-border pension taxation, and much more. Progress and Challenges of Nonfinancial Defined Contribution Pension Schemes is the third in a series of books analyzing the progress, challenges, and adjustment options of this reform revolution for mandated public pension systems. 'Pension reform is a major issue in many countries. The development of the nonfinancial defined contribution pension plan in the 90's was a major advance in pension design. By reporting actual country experiences and exploring properties of plan designs, this latest collection of essays is a valuable contribution, well worth reading.' Peter Diamond Professor at Massachusetts Institute of Technology; 2010 winner of the Nobel Memorial Prize in Economic Sciences 'A highly stimulating publication for policy makers and researchers alike. It pushes the analytical frontier for policy challenges that all public pension schemes are confronted with but that the nonfinancial defined contribution approach promises to handle best.' Noriyuki Takayama President, Research Institute for Policies on Pension and Aging, Tokyo, and professor emeritus, Hitotsubashi University, Tokyo 'In a changing world where pensions are more than ever linked to labor markets, communication tools, and flexibility considerations, this anthology provides a unique up-to-date analysis of nonfinancial defined contribution pension schemes. By mixing international experiences and theoretical studies, it demonstrates the high adaptability of such pension schemes to changing social challenges.' Pierre Devolder Professor of Finance and Actuarial Sciences, Catholic University of Louvain, Belgium

Lessons from Pension Reform in the Americas

Stephen J. Kay,Tapen Sinha
Lessons from Pension Reform in the Americas Book PDF

Author : Stephen J. Kay,Tapen Sinha
Publisher : OUP Oxford
Page : 448 pages
File Size : 54,7 Mb
Release : 2007-11-22
Category : Business & Economics
ISBN : 9780191527692

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Lessons from Pension Reform in the Americas by Stephen J. Kay,Tapen Sinha Pdf

Latin American experiments with pension reform began when Chile converted its public pay-as-you-go system to a system of private individual accounts in the early 1980s. Several other Latin American countries then followed suit, inspired both by Chile's reforms and by World Bank recommendations stressing compulsory government-mandated individual saving accounts. Individual accounts were subsequently introduced in a number of countries in Europe and Asia. Many are now re-evaluating these privatisations in an effort to 'reform the reform' to make these systems more efficient and equitable. This volume is the first to assess pension reforms in this new 'post-privatization' era. After a discussion on demographic trends in the foreword by Nobel laureate Robert W. Fogel, Section 1 of the book includes chapters on the role of pension system default options, the impact of gender, and a discussion of the World Bank's policies on pension reform. The chapter on the evidence from Chile's new social protection survey points to key lessons from the world's first privatization. Section 2 offers in-depth analysis of several significant reform initiatives in the hemisphere, and includes chapters on the United States, Canada, Mexico, Costa Rica, Brazil, Peru, Uruguay and Argentina. The volume provides an unparalleled account of the lessons from pension reform in the Americas, addressing the most pressing policy issues and highlighting a broad range of country experiences.

Reforming Pensions

Nicholas Barr,Peter Diamond
Reforming Pensions Book PDF

Author : Nicholas Barr,Peter Diamond
Publisher : Oxford University Press
Page : 264 pages
File Size : 53,9 Mb
Release : 2009-11-30
Category : Business & Economics
ISBN : 0199741972

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Reforming Pensions by Nicholas Barr,Peter Diamond Pdf

Mandatory pensions are a worldwide phenomenon. However, with fixed contribution rates, monthly benefits, and retirement ages, pension systems are not consistent with three long-run trends: declining mortality, declining fertility, and earlier retirement. Many systems need reform. This book gives an extensive nontechnical explanation of the economics of pension design. The theoretical arguments have three elements: * Pension systems have multiple objectives--consumption smoothing, insurance, poverty relief, and redistribution. Good policy needs to bear them all in mind. * Good analysis should be framed in a second-best context-- simple economic models are a bad guide to policy design in a world with imperfect information and decision-making, incomplete markets and taxation. * Any choice of pension system has risk-sharing and distributional consequences, which the book recognizes explicitly. Barr and Diamond's analysis includes labor markets, capital markets, risk sharing, and gender and family, with comparison of PAYG and funded systems, recognizing that the suitable level of funding differs by country. Alongside the economic principles of good design, policy must also take account of a country's capacity to implement the system. Thus the theoretical analysis is complemented by discussion of implementation, and of experiences, both good and bad, in many countries, with particular attention to Chile and China.

Pensions at a Glance 2019 OECD and G20 Indicators

OECD
Pensions at a Glance 2019 OECD and G20 Indicators Book PDF

Author : OECD
Publisher : OECD Publishing
Page : 180 pages
File Size : 46,6 Mb
Release : 2019-11-27
Category : Electronic
ISBN : 9789264876101

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Pensions at a Glance 2019 OECD and G20 Indicators by OECD Pdf

The 2019 edition of Pensions at a Glance highlights the pension reforms undertaken by OECD countries over the last two years. Moreover, two special chapters focus on non-standard work and pensions in OECD countries, take stock of different approaches to organising pensions for non-standard workers in the OECD, discuss why non-standard work raises pension issues and suggest how pension settings could be improved.

Pension Reform in Europe

Camila Arza,Martin Kohli
Pension Reform in Europe Book PDF

Author : Camila Arza,Martin Kohli
Publisher : Routledge
Page : 290 pages
File Size : 55,6 Mb
Release : 2007-08-07
Category : Political Science
ISBN : 9781134134366

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Pension Reform in Europe by Camila Arza,Martin Kohli Pdf

This new book provides a cross-country comparative analysis of the key issues shaping the latest pension reforms in Europe: political games, welfare models and pathways, population reactions, and observed and expected outcomes. Pension reform has been a top policy priority for European governments in the last decade. Ageing populations, changing labour market patterns and the process of European integration are the ‘irresistible forces’ pushing for reform throughout the region. The Political Economy of Pension Reform evaluates the political forces that make pension reform viable in different national and institutional contexts and the nature of political bargains, actors and cleavages surrounding policy change. The volume also examines the nature and outcomes of pension reform experiences in Europe, searching for a solution to the financial challenge posed by growing pension budgets. By addressing the nature of change, the pathways of reform, and the outcomes of the new pension mix in the region, the authors conclude with an analysis of people’s perceptions and attitudes towards pension policy and their acceptance or otherwise of different reform options. This book will be of interest to students and scholars of international political economy, European politics, and social policy.