Download or read book Reforming the Public Pension System in the Russian Federation written by Frank Eich and published by International Monetary Fund. This book was released on 2012-08-01 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pension reform is a key policy challenge in Russia. This paper examines how pension spending could increase in Russia in the absence of reforms, quantifies the impact of some recent proposals, and suggests some alternatives that would ensure public pension benefits - relative to wages - not fall from current levels while containing spending.
Download or read book Pension Reform in the Baltics Russia and other Countries of the Former Soviet Union BRO written by International Monetary Fund and published by International Monetary Fund. This book was released on 1998-02-01 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite their increasing fiscal burden, the public pension systems of BRO countries are failing to provide adequate social protection. Although there is a broad consensus about the need for pension reforms, BRO countries are debating whether to embark on systemic reforms or whether to correct the distortions in their pay-as-you-go (PAYG) pension systems. The paper reviews the measures taken by BRO countries during the transition period to address their pension problems and examines the options for further reform. It makes a strong case for a gradual reform approach aimed at establishing a multi-pillar system over the long run, but initially focused on implementation of “high-quality” reforms of the PAYG system.
Download or read book Public Pension Reform in Russia written by Elizabeth A. McKeon and published by . This book was released on 1997 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Macroeconomic Effects of Pension Reform in Russia written by David Hauner and published by International Monetary Fund. This book was released on 2008-08 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: Are the current account fluctuations in oil-exporting countries "excessive"? How should their real exchange rate respond to the evolution of external (and domestic) fundamentals? This paper proposes methodologies tailored to the specific features of oil-exporting countries that help address these questions. Price-based methodologies (based on the time series of real effective exchange rates) identify a strong link between the real exchange rate and the terms of trade, but have relatively limited explanatory power. On the other hand, an empirical model of the current account, which fits oil exporting countries' data well, and an intertemporal model that takes into account the stock of oil reserves provide useful benchmarks for oil exporters' external balances.
Download or read book Dividing the Spoils written by Ethan B. Kapstein and published by World Bank Publications. This book was released on 2000 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The gains from the transition in post-communist Russia were captured by the new managerial class, which won rents from the state in the form of privatized enterprises, state subsidies, credits, and opportunities for tax evasion. Those rents reduced state revenues that could have supported social policy-- including pension reform, which in turn could have fueled industrial restructuring. With neither pension reform nor industrial restructuring, Russia's economy has continued to shrink"--Cover.
Download or read book Private Pensions Series Reform and Challenges for Private Pensions in Russia written by OECD and published by OECD Publishing. This book was released on 2006-03-29 with total page 102 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report provides a critical review of reform initiatives undertaken by the Russian government to overhaul retirement provision in Russia and documents recent evolution occurring in the Russian private pension market.
Download or read book Dividing the Spoils written by Ethan B. Kapstein and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The gains from the transition in post-communist Russia were captured by the new managerial class, which won rents from the state in the form of privatized enterprises, state subsidies, credits, and opportunities for tax evasion. Those rents reduced state revenues that could have supported social policy - including pension reform, which in turn could have fueled industrial restructuring. With neither pension reform nor industrial restructuring, Russia's economy has continued to shrink. Kapstein and Milanovic present a political economy model in which policy is the outcome of an interaction between three actors: government (G), managers and workers (W), and transfer recipients (P). The government's objective is to stay in power, for which it needs the support of either P or W. It can choose slow privatization with little asset stripping and significant taxation, thus protecting the fiscal base out of which it pays pensioners relatively well (as in Poland). Or it can give away assets and tax exemptions to managers and workers, who then bankroll it and deliver the vote, but it thereby loses taxes and pays little to pensioners (as in Russia). The authors apply this model to Russia for the period 1992-96. An empirical analysis of electoral behavior in the 1996 presidential election shows that the likelihood of someone voting for Yeltsin did not depend on that person's socioeconomic group per se. Those who tended to vote for Yeltsin were richer, younger, and better educated and had more favorable expectations of the future. Entrepreneurs, who had more of these characteristics, tended to vote for Yeltsin as a result, while pensioners, who had almost none, tended to vote against Yeltsin. Unlike Poland, Russia failed to create pluralist politics in the early years of the transition, so no effective counterbalance emerged to offset managerial rent-seeking and the state was easily captured by well-organized industrial interests. The political elite were reelected because industrial interests bankrolled their campaign in return for promises that government largesse would continue to flow. Russia shows vividly how political economy affects policymaking, because of how openly and flagrantly government granted favors in return for electoral support. But special interests, venal bureaucrats, and the exchange of favors tend to be the rule, not the exception, elsewhere as well. This paper - a product of Poverty and Human Resources, Development Research Group - is part of a larger effort in the group to study the political economy of reform in transition countries. This study was funded by the Bank's Research Support Budget under the research project The Political Economy of Fiscal Policy in Transition Countries (RPO 682-52).
Download or read book Reform and Challenges for Private Pensions in Russia written by Lyudmila Sycheva and published by OECD Publishing. This book was released on 2006 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Russian Federation has undergone a major reform of the pension system which has resulted in a shift from a single, publicly managed system to one supplemented by a mandatory, privately managed occupational funded component and voluntary pension arrangements. The reform aimed to tackle a set of problems of demographic, social and economic order inherent to retirement income provision and was viewed as a way to improve old-age security of retirees in Russia by ensuring long-term financial and fiscal stability of the pension system and adequacy of pension benefits. This book examines these reforms and new challenges related to the reforms. Most prominent among the challenges is the need to further strengthen the pension system regulatory capacity and enforcement powers of the authorities in charge of the oversight of private pension institutions
Download or read book Shocking Mother Russia written by Andrea M. Chandler and published by University of Toronto Press. This book was released on 2004-01-01 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt: Examining the reform process of the old age pension system in Russia, from its Soviet origins to the Putin era, Shocking Mother Russia adds significantly to the growing body of literature on comparative social policy and the political challenges of pension reform. Andrea Chandler explains why Russia's old-age pension system went into decline after the collapse of the Soviet Union in 1991, even though it was a prominent issue in the political arena at the outset of the post-communist transition. While tracing the roots of the system's difficulties to the Soviet Union's first efforts to establish a national social welfare system after 1917, Chandler nonetheless devotes the bulk of her study to the period from 1990 to 2001. While political factors impeded reform for much of this eleven-year period, ultimately Russia's striking policy reversals provide a case study for developing nations. In 1990, a new Russian pension law was adopted during the Soviet reform process of perestroika. The system was again significantly altered in 2001 when a market-reform-oriented package of pension legislation was passed. Shocking Mother Russia places the Russian experience in comparative perspective, and suggests lessons for pension reform derived from analysis of the Russian case.
Download or read book Pension Reform in the Baltics Russia and Other Countries of the Former Soviet Union Bro written by Marta de Castello Branco and published by . This book was released on 2006 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite their increasing fiscal burden, the public pension systems of BRO countries are failing to provide adequate social protection. Although there is a broad consensus about the need for pension reforms, BRO countries are debating whether to embark on systemic reforms or whether to correct the distortions in their pay-as-you-go (PAYG) pension systems. The paper reviews the measures taken by BRO countries during the transition period to address their pension problems and examines the options for further reform. It makes a strong case for a gradual reform approach aimed at establishing a multi-pillar system over the long run, but initially focused on implementation of quot;high-qualityquot; reforms of the PAYG system.
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 Pension Funds in Central Europe and Russia written by Dimitri Vittas and published by World Bank Publications. This book was released on 1995 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Pension Reform in Russia written by and published by . This book was released on 2011 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Pension System written by and published by . This book was released on 2003 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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 No 07 written by OECD. Publishing and published by . This book was released on 2006 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reforming retirement systems has become a major challenge for policy makers in Russia and around the world. The Russian Federation has undergone a major systemic reform of its pension system, shifting from a single, publicly managed system to one supplemented by a mandatory, privately managed and occupational-funded component as well as voluntary pension arrangements. The reform tackled a set of demographic, social and economic problems inherent to retirement income provision and was designed to improve the security of retirees by ensuring the long-term financial and fiscal stability of the pe.
Download or read book Pension Reform in Russia written by Artem Kuznetsov and published by . This book was released on 2001 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt:
