Equitable And Sustainable Pensions

Author : Mr.Benedict J. Clements,Frank Eich,Mr.Sanjeev Gupta
Publisher : International Monetary Fund
Page : 432 pages
File Size : 41,7 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.

Author : International Monetary Fund,World Bank,International Labour Office
Publisher : International Monetary Fund
Page : 73 pages
File Size : 51,8 Mb
Release : 2024-04-30
Category : Business & Economics
ISBN : 9798400269288

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Towards an Inclusive, Equitable and Sustainable National Pension System in Iraq by International Monetary Fund,World Bank,International Labour Office Pdf

A pension system is at the heart of social protection. By ensuring income security for older persons and other vulnerable groups, it prevents poverty, reduces inequality, and facilitates consumption smoothing. A pension system also affects the working population’s labor market choices and has important fiscal implications. Iraq’s current pension system is highly fragmented, inequitable, and inefficient. First, it fails to provide adequate income protection to most of Iraqi’s old age population and other vulnerable groups, such as survivors and persons with disability. Second, the public sector pension is already putting substantial pressure on the budget and is potentially unsustainable given the projected acceleration of the total pension bill due to recent policy changes. Third, it sets an uneven playing field between the public and private sectors, contributing to the continued expansion of an already outsized civil service and holding back much-needed economic diversification and private sector growth. Thus, a comprehensive pension reform is urgently needed. Based on collaboration between the IMF, ILO and the World Bank this policy note aims to: 1) Provide an assessment of the existing public and private pension system across the four dimensions: fiscal sustainability; labor market implications; coverage; and adequacy of benefits. 2) Develop and propose options to adjust the pension system with a view to making it fiscally sustainable, more inclusive and adequate, and conducive to private sector development and labor market formalization. 3) Provide a basis to engage key stakeholders—including workers, employers organizations and the civil society—on strategies to achieve a more inclusive system, importantly by including workers in the informal economy, female workers, workers with disabilities, and other disadvantaged groups.

Author : Leszek Kasek,Thomas Laursen,Emilia Skrok
Publisher : World Bank Publications
Page : 48 pages
File Size : 50,6 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.

Author : Erik Schokkaert,Pierre Devolder,Jean Hindriks,Frank Vandenbroucke
Publisher : Unknown
Page : 128 pages
File Size : 52,9 Mb
Release : 2017
Category : Electronic
ISBN : OCLC:1197680233

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Towards an Equitable and Sustainable Points System by Erik Schokkaert,Pierre Devolder,Jean Hindriks,Frank Vandenbroucke Pdf

Author : Mariusz Jarmuzek
Publisher : International Monetary Fund
Page : 20 pages
File Size : 46,5 Mb
Release : 2016-03-02
Category : Political Science
ISBN : 9781513541730

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Sustainability and Equity Challenges by Mariusz Jarmuzek Pdf

Reform of Lebanon’s pension system is indispensable. The country already faces fiscal sustainability risks, which will be compounded in the future by significantly higher pensionrelated spending and liabilities, mainly reflecting adverse demographics. In addition to sustainability issues, the pension system also suffers from equity shortcomings—Lebanon is the only MENA country that does not offer social security for retirees in the private sector. While several reform proposals have been formulated since the early 2000s, none has been implemented to date. Costs mount with every year of delay, so action is required soon to address these challenges.

Author : Judith Davey,Geoff Rashbrooke,Robert Stephens
Publisher : Unknown
Page : 200 pages
File Size : 44,6 Mb
Release : 2010
Category : Old age pensions
ISBN : 1877347426

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Retirement Income Policy and Intergenerational Equity by Judith Davey,Geoff Rashbrooke,Robert Stephens Pdf

Population ageing is widely recognised as a major issue throughout the world. A crucial implication of ageing is its impact on retirement income policy. Having a reliable income in retirement or being able to look forward to a comfortable standard of living is important for everyone. It is not just a concern for older or even middle-aged people. Retirement income policy raises questions of fairness and intergenerational equity. Whether a tax-funded pension system is sustainable depends on the balance between the number of recipients and the number of taxpayers who can contribute to it. If the financial support of pensioners is indeed a 'burden', then how could that fiscal burden be shared between current and future taxpayers, and pension recipients? These and related issues are discussed in Retirement Income Policy and Intergenerational Equity in a series of papers from a wide range of perspectives. These papers were originally presented at a conference run by the Institute of Policy Studies, with the support of the Retirement Commissioner, in July 2010.

Author : Mariusz Jarmuzek,Najla Nakhle
Publisher : Unknown
Page : 128 pages
File Size : 55,7 Mb
Release : 2016
Category : Lebanon
ISBN : 1513557238

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Sustainability and Equity Challenges by Mariusz Jarmuzek,Najla Nakhle Pdf

Author : J. Roemer,K. Suzumura
Publisher : Springer
Page : 368 pages
File Size : 48,9 Mb
Release : 2007-11-08
Category : Business & Economics
ISBN : 9780230236769

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Intergenerational Equity and Sustainability by J. Roemer,K. Suzumura Pdf

This book addresses distributive justice across generations and includes original theories from distinguished economists on intergenerational equity, efficiency and rationality, which discuss policies on social security, pensions, and environmental degradation, as examples of policies of the present generation which impact upon future generations.

Author : Mark C. Dorfman,Robert Holzmann,Philip O'Keefe,Dewen Wang,Yvonne Sin,Richard Hinz
Publisher : World Bank Publications
Page : 264 pages
File Size : 46,6 Mb
Release : 2013-03-08
Category : Political Science
ISBN : 9780821395417

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China's Pension System by Mark C. Dorfman,Robert Holzmann,Philip O'Keefe,Dewen Wang,Yvonne Sin,Richard Hinz Pdf

Comprehensive reform of China s pension and social security system is an essential element of achieving its objectives of a harmonious society and sustainable development.

Author : Mr. Alvar Kangur,Niki Kalavrezou,Mr. Daehaeng Kim
Publisher : International Monetary Fund
Page : 26 pages
File Size : 50,7 Mb
Release : 2021-07-16
Category : Business & Economics
ISBN : 9781513588841

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Reforming the Greek Pension System by Mr. Alvar Kangur,Niki Kalavrezou,Mr. Daehaeng Kim Pdf

The Greek pension system has been costly, complex, and distortive, which has contributed to Greece’s fiscal problems and discouraged labor force participation. Several attempts to reform the system faltered due to lack of implementation, pushback by vested interests, and court rulings leading to reversals. A series of reforms introduced throughout 2015–17 unified benefit and contribution rules, removed several distortions and reduced fragmentation and costs. If fully implemented throughout the long-term, these reforms can go a long way towards enhancing the pension system affordability. However, reforms faced setbacks and fell short of creating stronger incentives to build long contribution histories, to deliver sustainable growth by improving the fiscal policy mix, and to ensure fairness and equitable burden sharing across generations and interest groups. Policy priorities should aim towards fully implementing the 2015–17 reforms and complementing them with additional reforms to address these remaining objectives.

Author : Samuel Pienknagura,Christopher Evans
Publisher : International Monetary Fund
Page : 52 pages
File Size : 45,8 Mb
Release : 2021-09-10
Category : Business & Economics
ISBN : 9781513596112

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Assessing Chile's Pension System: Challenges and Reform Options by Samuel Pienknagura,Christopher Evans Pdf

Chile’s pension system came under close scrutiny in recent years. This paper takes stock of the adequacy of the system and highlights its challenges. Chile’s defined contribution system was quite influential when introduced, and was taken as an example by other countries. However, it is now delivering low replacement rates relative to OECD peers, as its parameters did not adapt over time to changing demographics and global returns, while informality persists in the labor market. In the absence of reforms, the system’s inability to deliver adequate outcomes for a large share of participants will continue to magnify, as demographic trends and low global interest rates will continue to reduce replacement rates. In addition, recent legislation allowing for pension savings withdrawals to counter the effects from the COVID-19 pandemic, is projected to further reduce replacement rates and increase fiscal costs. A substantial improvement in replacement rates is feasible, via a reform that raises contribution rates and the retirement age, coupled with policies that increases workers’ contribution density.

Author : Robert Holzmann,Edward E. Palmer
Publisher : World Bank Publications
Page : 692 pages
File Size : 47,7 Mb
Release : 2006
Category : Business & Economics
ISBN : 9780821361665

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Pension Reform by Robert Holzmann,Edward E. Palmer Pdf

This book presents 25 state of the art papers on the conceptual foundations and issues surrounding Non-financial, or Notional, Defined Contribution (NDC), country implementation of NDC (Italy, Latvia, Poland, and Sweden) and case studies for countries where NDC is figured in the reform debate. This book is intended to be a handbook for academics and policy makers who want to become informed about what NDC is and to learn about the pros and cons of this attractive reform proposal.

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 69 pages
File Size : 54,8 Mb
Release : 2014-07-03
Category : Business & Economics
ISBN : 9781498343671

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Fiscal Policy and Income Inequality by International Monetary Fund Pdf

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Author : Baporikar, Neeta
Publisher : IGI Global
Page : 696 pages
File Size : 50,5 Mb
Release : 2020-06-26
Category : Business & Economics
ISBN : 9781799851172

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Handbook of Research on Entrepreneurship Development and Opportunities in Circular Economy by Baporikar, Neeta Pdf

With the need for sustainability, a focus on developing an economic system that aims at minimizing waste, commonly referred to as the circular economy, is emerging. Circular economy and studies related to it have gained worldwide attention, as it seems to be an effective alternative economic system. Naturally, the circular economy will impact enterprises and will shift how entrepreneurship development and entrepreneurial opportunities are perceived, developed, and resourced. The Handbook of Research on Entrepreneurship Development and Opportunities in Circular Economy is a collection of pioneering research that advances the understanding of entrepreneurship development, identifies the opportunities, and manages the entrepreneurship development, policies, and programs in order to further a circular economy. In addition to entrepreneurship development and entrepreneurial opportunities, the book will cover and discuss a number of other factors necessary for a successful transformation, such as entrepreneurship and innovation, entrepreneurship and change, and entrepreneurship education. While highlighting topics including consumer consumption, knowledge management, and linear economics, this book is ideally designed for entrepreneurs, small business owners, managers, consultants, organization development specialists, policymakers, researchers, industry experts, academicians, and students.

Author : Anonim
Publisher : Unknown
Page : 96 pages
File Size : 45,6 Mb
Release : 2010
Category : Old age pensions
ISBN : UCSD:31822036616514

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Joint Report on Pensions by Anonim Pdf

Recoge: 1. An introduction to pensions reform- 2. A decade in pension reform in the EU - 3. The impact of the crisis - 4. Policy challenges over the long-term - 5. Policy implications.