Download or read book Equitable and Sustainable Pensions written by Mr.Benedict J. Clements and published by International Monetary Fund. This book was released on 2014-03-08 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Sustainability of Pension Systems in the New EU Member States and Croatia written by Leszek Kasek and published by World Bank Publications. This book was released on 2008-02-01 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Towards an Inclusive Equitable and Sustainable National Pension System in Iraq written by International Monetary Fund and published by International Monetary Fund. This book was released on 2024-04-30 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Sustainability and Equity Challenges written by Mariusz Jarmuzek and published by International Monetary Fund. This book was released on 2016-03-02 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Sustainability and Equity Challenges written by Mariusz Jarmuzek and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Equitable and Sustainable Pensions written by Mr.Benedict J. Clements and published by International Monetary Fund. This book was released on 2014-03-08 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
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 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 China s Pension System written by Mark C. Dorfman and published by World Bank Publications. This book was released on 2013-03-08 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Fiscal Policy and Income Inequality written by International Monetary Fund and published by International Monetary Fund. This book was released on 2014-07-03 with total page 69 pages. Available in PDF, EPUB and Kindle. Book excerpt: NULL
Download or read book Handbook of Research on Entrepreneurship Development and Opportunities in Circular Economy written by Baporikar, Neeta and published by IGI Global. This book was released on 2020-06-26 with total page 696 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Pension Systems in East and Southeast Asia written by Donghyun Park and published by Asian Development Bank. This book was released on 2012-08-01 with total page 165 pages. Available in PDF, EPUB and Kindle. Book excerpt: Population aging poses two major challenges for Asian policy makers: (i) sustaining rapid economic growth in the face of less favorable demographic conditions; and (ii) providing affordable, adequate, sustainable old-age income support for a large and growing elderly population. This book explores the second issue by examining the pension systems of eight countries in East and Southeast Asia: the People's Republic of China, Indonesia, the Republic of Korea, Malaysia, the Philippines, Singapore, Thailand, and Viet Nam. It also puts forward both country-specific and region-wide reforms to address two critical areas of pension reform, namely, fairness and sustainability.
Download or read book Joint Report on Pensions written by and published by . This book was released on 2010 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Sustainable Prosperity in the New Economy written by William Lazonick and published by W.E. Upjohn Institute. This book was released on 2009 with total page 377 pages. Available in PDF, EPUB and Kindle. Book excerpt: Lazonick explores the origins of the new era of employment insecurity and income inequality, and considers what governments, businesses, and individuals can do about it. He also asks whether the United States can refashion its high-tech business model to generate stable and equitable economic growth. --from publisher description.
Download or read book Economic Challenges of Pension Systems written by Marta Peris-Ortiz and published by Springer Nature. This book was released on 2020-03-20 with total page 487 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the major economic challenges associated with the sustainability of public pensions, specifically demographic change, labor-market relations, and risk sharing. The issue of public pensions occupies the political and economic agendas of many major governments in the world. International organizations such as the World Bank and the OECD warn that the economic changes driven by an aging society negatively affects the sustainability of pension systems. This book analyzes different global public pension systems to offer policies, methods and tools for sustainable public pensions. Real case studies from France, Sweden, Latin America, Algeria, USA and Mexico are featured.
Download or read book Communities in Action written by National Academies of Sciences, Engineering, and Medicine and published by National Academies Press. This book was released on 2017-04-27 with total page 583 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the United States, some populations suffer from far greater disparities in health than others. Those disparities are caused not only by fundamental differences in health status across segments of the population, but also because of inequities in factors that impact health status, so-called determinants of health. Only part of an individual's health status depends on his or her behavior and choice; community-wide problems like poverty, unemployment, poor education, inadequate housing, poor public transportation, interpersonal violence, and decaying neighborhoods also contribute to health inequities, as well as the historic and ongoing interplay of structures, policies, and norms that shape lives. When these factors are not optimal in a community, it does not mean they are intractable: such inequities can be mitigated by social policies that can shape health in powerful ways. Communities in Action: Pathways to Health Equity seeks to delineate the causes of and the solutions to health inequities in the United States. This report focuses on what communities can do to promote health equity, what actions are needed by the many and varied stakeholders that are part of communities or support them, as well as the root causes and structural barriers that need to be overcome.
Download or read book Pension Systems and Old Age Income Support in East and Southeast Asia written by Donghyun Park and published by Routledge. This book was released on 2012-03-15 with total page 283 pages. Available in PDF, EPUB and Kindle. Book excerpt: Old age income support will be one of the biggest social and economic challenges facing Asia in the twenty-first century. The growing spotlight on old age income support is largely due to exceptionally rapid population aging which is fundamentally reshaping Asia’s demographic profile. A young continent reaping the demographic dividend of a large youthful workforce is giving way to a greying continent where the ratio of retirees to workers is on the rise. In contrast to industrialized countries, most Asian countries do not yet have mature, well-functioning pension systems. As a result, they are ill prepared to provide economic security for the large number of retirees who loom on the region’s horizon. This book takes a close look at the pension systems of eight countries in East and Southeast Asia – namely, China, Indonesia, Korea, Malaysia, Philippines, Singapore, Thailand and Vietnam – which encompass a wide range of income and development levels. The book provides a comprehensive overview of pension systems in the eight countries, including an in-depth diagnosis to identify their major weaknesses and shortcomings. On the basis of the diagnosis, the book sets forth concrete and specific policy options for reforming Asia’s pension systems. Many policy options for reform are country-specific. For example, a top priority in China is to extend the pension system to rural areas. At the same time, a number of reforms – such as the need to extend coverage – resonate across the entire region. Appropriate reform will enable the region’s pension systems to deliver affordable, adequate and sustainable old-age economic security.
