Download or read book Pension Policy New Evidence on Key Issues written by Tim Callan and published by ESRI. This book was released on 2009 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Public Policy Toward Pensions written by Sylvester J. Schieber and published by MIT Press. This book was released on 1997 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: According to Schieber and Shoven, pension policy will emerge as one of the key economic issues of the next decade. This book provides a guide to the debate.Public and private pensions control almost a quarter of the United States' tangible wealth--equivalent to all of the country's residential real estate. They account for most current saving in the country, are a crucial component of household retirement resources, and have significant effects on labor market mobility and efficiency. Collectively, they hold a tremendous proportion of all common stock. The stock market has boomed during the past decade, as baby boomers have rapidly accumulated pension assets. Now economists are starting to wonder what will happen when the baby boomers retire. It is already clear that the Social Security system will require drastic changes to remain solvent. Will the stock market experience a similar meltdown as baby boomers withdraw their assets from pension plans? What policies might help to avoid such a crisis? According to Schieber and Shoven, pension policy will emerge as one of the key economic issues of the next decade. This book provides a guide to the debate. Topics include the impact of pensions on personal and national saving, the potential for a Pension Benefit Guarantee Corporation financial crisis, the dramatic growth in 401(k) plans, public sector plants, the prospects for adequate retirement income in the future, and recommended directions for pension policies. The book contains ten chapters, four written by Schieber and Shoven.ContributorsRobert Clark, Ping-Lung Hsin, Olivia Mitchell, James Poterba, Andrew Samwick, Jonathan Skinner, Steven Venti, Carolyn Weaver, David Wise, and Elisa Wolper.
Download or read book New Ideas about Old Age Security written by Robert Holzmann and published by World Bank Publications. This book was released on 2001 with total page 520 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Lessons from Pension Reform in the Americas written by Stephen J. Kay and published by OUP Oxford. This book was released on 2007-11-22 with total page 448 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Pension Reform in Europe written by Camila Arza and published by Routledge. This book was released on 2007-08-07 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Ageing and Pension Reform Around the World written by Giuliano Bonoli and published by Edward Elgar Publishing. This book was released on 2006-01-01 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book New Evidence on Pensions Social Security and the Timing of Retirement written by Andrew Samwick and published by . This book was released on 1998 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using a unique dataset that links the economic and demographic information of households with the details of their pension formulas, I estimate the combined effect of Social Security and pension benefits on the probability of retirement in a cross-section of the population near retirement age. The accrual rate of retirement wealth is shown to be a significant determinant of the probability of retirement. Simulations of extensions in pension coverage comparable to those that occurred in the early postwar period can account for one fourth of the contemporaneous decline in labor force participation rates.
Download or read book Pensions at a Glance 2019 OECD and G20 Indicators written by OECD and published by OECD Publishing. This book was released on 2019-11-27 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Pensions written by Thom Reilly and published by . This book was released on 2014 with total page 345 pages. Available in PDF, EPUB and Kindle. Book excerpt: The ongoing global financial crisis, coupled with the continued dramatic increases in life expectancy, have escalated the concerns countries have regarding the sustainability of their pension systems and how these retirement schemes will be financed. From 1998 to 2008, close to 30 countries embarked on privatizing reforms to their pension programs. Some of these countries introduced new pension reforms directed at private individual accounts while reducing the size of the state social security system. The focus of other reforms during this period varied but was primarily aimed at strengthening basic protection for economically at-risk older individuals, increasing benefit coverage and/or improving the overall fiscal sustainability of these systems. However, the move towards greater coverage and sustainability was interrupted by the worldwide financial meltdown. This has led to a reassessment of pension systems and reform approaches. This volume was assembled to review the status of pension reforms globally and to gain a glimpse of the trends emerging as countries adjust to the new age of macroeconomic worldwide uncertainty. The chapters in this volume provide concise, clear and dispassionate discussions on these trends and reforms as well as frank appraisals of the consequences of alternative policies. Experts from Europe, the United States and the emerging economies of Brazil, China and India approach pension reform and reassessment from different perspectives; however, each provide forthright analyses and assessment of the consequences of the "new normal".
Download or read book The Pension Challenge written by Olivia S. Mitchell and published by Oxford University Press. This book was released on 2003-11-13 with total page 361 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book, the first in a new series produced by the Pension Research Council of the Wharton School in collaboration with Oxford University Press, explores ways to enhance retirement security in a volatile financial environment.Mitchell and Smetters begin by assessing the myriad retirement risks confronting employees, retirees, employers, and governments, and it shows how stakeholders can work to reinvent pensions that perform well in a competitive global setting. Contributors then indicate how pension systems can be better designed to help protect against these risks.Of special interest is a discussion of new financial products and structures to meet and manage challenges to old-age security. Examples considered include pension investment guarantees and hedges, adapting catastrophe bonds to the pension context, and key regulatory structures and portfolio requirements designed to protect unwary or unwitting pension participants. The contributors draw important lessons for a wide range of countries, drawing from both developed and developing marketexperiences.Contributors include world-famous finance experts and risk management faculty, development economists, pension regulators, and pension consultants.
Download or read book Ageing and Income written by Organisation for Economic Co-operation and Development and published by Org. for Economic Cooperation & Development. This book was released on 2001-11-16 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: This landmark study of the material well-being of older people in nine OECD countries -- Canada, Finland, Germany, Italy, Japan, the Netherlands, Sweden, the United Kingdom and the United States -- uses a wealth of new data to shed light on the challenges that face policy-makers as they anticipate the coming retirement of the baby-boom generation. The findings are often surprising. In all the countries surveyed, policies have been fundamentally successful: older people at all income levels tend to maintain or even increase their material standards of living once they stop working. This happens despite large differences in approaches to public policy, including the size of public pensions. The systems that provide resources to older people are considerably more complex than is usually taken into account in policy-making, and the effects of policy, while large, are less direct than often thought. Demography and changing labour market patterns make reforms to these systems imperative. The challenge is to make needed changes without undermining past success. This is difficult, but entirely possible; the payoffs from relatively small changes in the balance between work and retirement could be particularly large. The study examines the many diverse ways in which the nine countries are tackling this challenge and the lessons that have been learned from their experiences. It provides invaluable evidence for policy-makers, researchers and citizens concerned about the challenges posed for societies by ageing populations.
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 Reforming Pensions Principles and Policy Choices written by Nicholas Barr and published by Oxford University Press. This book was released on 2008-09-17 with total page 763 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Aging and the Macroeconomy written by National Research Council and published by National Academies Press. This book was released on 2013-01-10 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: The United States is in the midst of a major demographic shift. In the coming decades, people aged 65 and over will make up an increasingly large percentage of the population: The ratio of people aged 65+ to people aged 20-64 will rise by 80%. This shift is happening for two reasons: people are living longer, and many couples are choosing to have fewer children and to have those children somewhat later in life. The resulting demographic shift will present the nation with economic challenges, both to absorb the costs and to leverage the benefits of an aging population. Aging and the Macroeconomy: Long-Term Implications of an Older Population presents the fundamental factors driving the aging of the U.S. population, as well as its societal implications and likely long-term macroeconomic effects in a global context. The report finds that, while population aging does not pose an insurmountable challenge to the nation, it is imperative that sensible policies are implemented soon to allow companies and households to respond. It offers four practical approaches for preparing resources to support the future consumption of households and for adapting to the new economic landscape.
Download or read book Pensions at a Glance 2021 OECD and G20 Indicators written by OECD and published by OECD Publishing. This book was released on 2021-12-08 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2021 edition of Pensions at a Glance highlights the pension reforms undertaken by OECD countries over the past two years. Moreover, the special chapter focuses on automatic adjustment mechanisms in pensions systems in OECD countries, discusses the usefulness and limitations of these policy instruments, and suggests ways to improve them in order to enhance the capacity of pension systems to fulfil their objectives.
Download or read book Prospects for Social Security Reform written by Olivia S. Mitchell and published by University of Pennsylvania Press. This book was released on 1999-01-29 with total page 446 pages. Available in PDF, EPUB and Kindle. Book excerpt: The United States social security system is the nation's largest social insurance program. As such, it has a far-reaching impact throughout the economy, influencing not only old-age economic security but also many behaviors, including corporate employment policy, retirement patterns, and personal saving. In the past, the system's universal coverage and generous benefits ensured popular support to a degree enjoyed by no other form of "big government" social spending. Yet over two-thirds of all Americans today believe that the social security system will face bankruptcy by the time they retire. The question of social security reform—how to reform the system or whether the system needs reform at all—is the subject of heated debate at all levels of government, in the media, and among workers, pensioners, and employers. Prospects for Social Security Reform informs the debate by exploring why the system is at a crossroads today and what to do about it. Contributors detail the size and nature of the problem, explain views of key "stakeholders" regarding reform options, and report new evidence on how reform might affect the economy. Research findings and public opinion polls are analyzed, as are lessons from other countries experimenting with new ways to deliver old-age benefit promises. No other volume includes as diverse and expert a set of perspectives on reform and privatization as those gathered here from economists, actuaries, employers, investment managers, and representatives of organized labor. Among its chapters is the path-breaking study "Social Security Money's Worth," the 1999 winner of the TIAA-CREF's Paul A. Samuelson Award for Outstanding Scholarly Writing on Lifelong Financial Security.
Download or read book Social Security Pensions written by C. Gillion and published by International Labor Office. This book was released on 2000 with total page 808 pages. Available in PDF, EPUB and Kindle. Book excerpt: By providing a balanced assessment and factual review of the praticalities and structure behind various pension schemes around the world, this book assists decision-makers in forming effective, viable pension policy.
