Download or read book Ensuring Sustainability of the Public Service Pension Plan written by Government of Newfoundland and Labrador and published by . This book was released on 2014 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Ensuring Sustainability of the Public Service Pension Plan written by Newfoundland and Labrador. Department of Finance and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book State and Local Pension Fund Management written by Jun Peng and published by CRC Press. This book was released on 2008-08-21 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: Intense media coverage of the public pension funding crisis continues to fuel heightened awareness in and debate over public pension benefits. With over $3 trillion in assets currently under management, the ramifications of poor oversight are severe. It is important that practitioners, researchers, and taxpayers be well-advised regarding any concer
Download or read book The Challenge of Public Pension Reform in Advanced and Emerging Economies written by Mr.Benedict J. Clements and published by International Monetary Fund. This book was released on 2013-01-25 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pension reform is high on the policy agenda of many advanced and emerging market economies. In advanced economies the challenge is generally to contain future increases in public pension spending as the population ages. In emerging market economies, the challenges are often different. Where pension coverage is extensive, the issues are similar to those in advanced economies. Where pension coverage is low, the key challenge will be to expand coverage in a fiscally sustainable manner. This volume examines the outlook for public pension spending over the coming decades and the options for reform in 52 advanced and emerging market economies.
Download or read book Public service pensions written by Great BritainH.M. Treasury and published by The Stationery Office. This book was released on 2011-11-02 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper the Government sets out its preferred scheme design for public service pensions. It is built on the foundations laid by Lord Hutton in his report (Independent Public Service Pensions Commission: final report, 2011, ISBN 9780108510410). The cost of public service pensions paid out has risen by over a third over the last ten years to £32 billion a year. Reforms to date have been insufficient to reverse the increase in costs of public service schemes from rising longevity. The Government's offer is: benefits already earned are protected; for those in final salary schemes, those past benefits will be linked to their final salary when they leave the scheme or retire; public service workers with ten years or less to their current pension age, will see no change in when they can retire; Government will continue to pay more overall toward pension benefits than the workforce. The scheme design will ensure: guaranteed, index-linked pension benefits on retirement; an accrual rate of 1/60ths and earnings indexation for benefits while still working in the public service; fairer distribution of benefits across the workforce; and, that most low and middle earners working a full career will receive pension benefits at least as good as they get now. But in return, the Government is asking public service workers to pay more towards their pensions and work a bit longer. The Government's offer is conditional on the trades unions and the Government reaching agreement on the reforms.
Download or read book Kenya written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2023-07-19 with total page 190 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Kenyan economy faces multiple near-term challenges—including limited fiscal and external buffers, elevated cost of living, exchange rate pressures, tight financial conditions—while global headwinds are weighing on activity. Tackling these challenges and ensuring a steady reduction of Kenya’s debt and debt vulnerabilities will require addressing difficult policy trade-offs with mutually reinforcing policies and carefully prioritizing the authorities’ “bottom-up” reform agenda. Downside risks to the program baseline are significant in the near term from elevated uncertainty in major economies’ outlook and in the event of insufficient policy actions to sustainably address the FX market dislocation, elevated inflation, and emerging slowdown in tax revenues.
Download or read book Kenya written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2024-01-17 with total page 233 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Kenyan economy remains resilient amid a confluence of global, regional, environmental, and domestic political risks. These factors, including costly and uncertain international bond market access for frontier market economies in an environment of “higher for longer” global interest rates, are adding to Kenya’s balance of payments and fiscal financing needs despite policy efforts to sustain domestic and external balances. The authorities’ EFF/ECF-supported program, approved in April 2021 and extended by 10 months in July 2023 to April 2025, continues to evolve to address the emerging challenges, including to restore market confidence while incorporating additional policy actions to reduce debt vulnerabilities, a key objective of the program. The program also endeavors to bolster Kenya’s medium-term prospects by enhancing fiscal risk management, strengthening external buffers, and improving the governance framework.
Download or read book Ageing and the Public Service Human Resource Challenges written by OECD and published by OECD Publishing. This book was released on 2007-07-26 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: Government work forces are ageing even more rapidly than the rest of society. This book reviews the experience of nine OECD countries in dealing with this challenge.
Download or read book Assessing Chile s Pension System Challenges and Reform Options written by Samuel Pienknagura and published by International Monetary Fund. This book was released on 2021-09-10 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Ensuring a Sustainable Future written by Jody Heymann and published by Oxford University Press. This book was released on 2013-09-13 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is very little argument that the world is facing severe environmental challenges. Ongoing air and water pollution, increasing energy consumption, and the depletion of natural resources have all placed considerable stress on the capacity of our environment to support the present quality of human life in a sustainable manner. Ensuring a Sustainable Future does what few previous works have: it examines these trends' disproportionate impact on the poor and the economically viable solutions that can serve to remedy them -- solutions that simultaneously address environmental and economic problems. This gap in previous research, evidence, and writing has left low-income countries often unwilling to take on major environmental problems and many poor communities believing they faced impossible choices between improving the environment in which they live and increasing the jobs and income available. Bringing together evidence-based recommendations and in-depth case studies of successful policies and programs around the world, Ensuring a Sustainable Future examines innovative solutions to this crucial challenge. In doing so, it addresses a comprehensive range of environmental sustainability challenges affecting low-, middle-, and high-income countries.
Download or read book Official Report of the Debates of the House of Commons written by Canada. Parliament. House of Commons and published by . This book was released on 2009-06 with total page 756 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book State and Local Pensions written by Alicia H. Munnell and published by Rowman & Littlefield. This book was released on 2012-08-27 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the wake of the financial crisis and Great Recession, the health of state and local pension plans has emerged as a front burner policy issue. Elected officials, academic experts, and the media alike have pointed to funding shortfalls with alarm, expressing concern that pension promises are unsustainable or will squeeze out other pressing government priorities. A few local governments have even filed for bankruptcy, with pensions cited as a major cause. Alicia H. Munnell draws on both her practical experience and her research to provide a broad perspective on the challenge of state and local pensions. She shows that the story is big and complicated and cannot be viewed through a narrow prism such as accounting methods or the role of unions. By examining the diversity of the public plan universe, Munnell debunks the notion that all plans are in trouble. In fact, she finds that while a few plans are basket cases, many are functioning reasonably well. Munnell's analysis concludes that the plans in serious trouble need a major overhaul. But even the relatively healthy plans face three challenges ahead: an excessive concentration of plan assets in equities; the risk that steep benefit cuts for new hires will harm workforce quality; and the constraints plans face in adjusting future benefits for current employees. Here, Munnell proposes solutions that preserve the main strengths of state and local pensions while promoting needed reforms.
Download or read book Barbados written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2019-12-18 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents 2019 Article IV Consultation with Barbados and its Second Review Under the Extended Arrangement, Request for Completion of the Financing Assurances Review, and Modification of Performance Criteria. The Article IV discussions focused on fiscal adjustment, medium-term growth and resilience to climate change and natural disasters. The Barbadian authorities continue to make good progress in implementing the comprehensive Economic Recovery and Transformation (BERT) plan aimed at restoring fiscal and debt sustainability, rebuilding reserves, and increasing growth. All program targets for end-June and end-September 2019 have been met. All three structural benchmarks for the second review have also been met. The authorities have continued the reform of state-owned enterprises (SOEs) by completing a review of tariffs and fees charged by SOEs, tightening reporting requirements, and reducing costs. The authorities reached agreement with the External Creditor Committee on a restructuring of external debt to private creditors in October 2019 and launched a debt exchange offer in early November. The IMF Staff proposes modification of the performance criteria relating to the primary balance, net international reserves and net domestic assets.
Download or read book Pension Sustainability in China written by Randong Yuan and published by Routledge. This book was released on 2021-11-29 with total page 159 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pension Sustainability in China: Fragmented Administration and Population Aging aims to investigate the impact of fragmentation and population ageing on pension sustainability in China. The book demonstrates how pension sustainability is compromised by various adverse effects produced by fragmentation, such as the moral hazard caused by the disarticulated intergovernmental fiscal responsibility. An overlapping generations (OLG) model is updated with the latest demographic data and is used to assess the impact of population ageing on pension sustainability. The book considers whether adjustment in retirement age can ensure long-term financial sustainability. It explores how, compared to the population ageing, the issues stemming from the fragmentation pose a more insidious threat to pension sustainability in China.
Download or read book Reforming the Greek Pension System written by Mr. Alvar Kangur and published by International Monetary Fund. This book was released on 2021-07-16 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book International Handbook on Civil Service Systems written by A. Massey and published by Edward Elgar Publishing. This book was released on 2011-01-01 with total page 393 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'This Handbook on civil service systems is truly international and comparative. It covers and compares countries from all continents. It also connects historical (Weberian) legacies to contemporary challenges such as coordination, the hollow state, and trust. Massey's Handbook does not avoid difficult issues for civil service systems such as ruined reforms, fiscal retrenchment, and cultural and political system shocks. Therefore this book is exceptionally rich and stimulating.' Geert Bouckaert, Katholieke Universiteit Leuven, Belgium While there is no universally accepted definition of civil servant and civil service, this authoritative and informative Handbook compares and contrasts various approaches to organising the structure and activities of different civil service systems. Underpinning theories and frameworks provide a disciplinary perspective from which to explore recurring topics and themes, and international comparisons are made via case studies from Africa, Asia, Australasia, Europe, and North and South America. The expert contributors consider the historical and theoretical context of public administration and public sector management, encompassing issues such as the Weberian legacy, joined-up government and the hollowed-out state thesis. The debate between Anglo-American influenced systems versus the continental European approach to organising the civil service is also addressed.
Download or read book Government response to the House of Lords Select Committee on Public Service and Demographic Change report of session 2012 13 written by Great Britain: Department of Health and published by Stationery Office. This book was released on 2013-07-18 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Government response to HL paper 140 (ISBN 9780108550492)
