Download or read book Pension Reform in India written by Mr.Robert Gillingham and published by INTERNATIONAL MONETARY FUND. This book was released on 2001-09-01 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the current state of the pension system in India, as well as plans to reform it. Problems with the current system are identified, and, within this context, the appropriate role of the government in retirement saving is discussed. Finally, the OASIS reform proposal is evaluated and additional reform options are presented.
Download or read book Implementing an Inclusive and Equitable Pension Reform written by Cheolsu Kim and published by Routledge. This book was released on 2012-05-31 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: India is ageing. One response of Indian policy makers has been introduction of the New Pension Scheme (NPS), a defined contribution pension scheme which is mandatory for civil servants and voluntary for the rest of the population. Given the size of the target population, even if take up is modest, NPS savings may soon provide huge amounts of capital to the Indian economy. However, challenges are abound. What governance structure will best achieve the ultimate policy goal of serving the needs of savers? What business processes and information technology design will serve members best? How effectively will the NPS attack the problem of old-age poverty? In this book, a multi-disciplinary international team, comprised of economists, lawyers, pension management experts, and capital market experts, attempt to answer these and other questions. The book proposes significant legal, regulatory, and governance reforms for the NPS and other existing pension schemes, as well. It finds that current NPS business practices cannot keep pace with potential growth of the system and makes suggestions on how to take better advantage of information technology. Based on review of experience elsewhere and state-of-the-art economic-demographic modelling, it warns that the NPS in its current form does not address the retirement income needs of the lifelong very poor, suggesting that it is only one in a range of responses needed to cope with the challenges of population ageing in India.
Download or read book Pension Reform in India written by H. Sadhak and published by SAGE Publications Pvt. Limited. This book was released on 2013-09-17 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Changing population dynamics have challenged the socio-economic stability of nations globally. This has brought into focus pension reform as one of the most critical socio-economic-political agendas. Against this background, this book gives a comprehensive account of the Indian pension system and the ongoing reforms. Pension Reform in India discusses the current National Pension System (NPS) structure and architecture extensively and also throws light on the alternative old-age financial-security schemes available in the country. To enable a better understanding of the critical issues of the hour, the author provides insights into pension reforms in many emerging-economy countries. Drawing upon his years of experience in this field and also from exhaustive research of data and publications of international agencies and eminent scholars, the author proposes methods for designing a pension system that is both viable and robust.
Download or read book Pension Reform in India written by Robert Gillingham and published by . This book was released on 2010 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the current state of the pension system in India, as well as plans to reform it. Problems with the current system are identified, and, within this context, the appropriate role of the government in retirement saving is discussed. Finally, the OASIS reform proposal is evaluated and additional reform options are presented.
Download or read book Rethinking Pension Provision for India 2003 written by Anand Bordia and published by TATA McGraw-Hill Publishing Company. This book was released on 2003 with total page 394 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contributed articles.
Download or read book Financial Market Implications of India s Pension Reform written by Hélène Poirson and published by . This book was released on 2007 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: India's planned pension reform will set up a proper regulatory framework for the pension industry and open up the sector to private fund managers. Drawing on international experiences, the paper highlights pre-conditions for the reform to kick-start financial development, including: (i) the buildup of critical mass; (ii) sufficiently flexible investment guidelines and regulations, including on investments abroad; and (iii) concurrent reforms in capital markets. Given the limited scale of the planned reform, the key challenge for India is to achieve sufficient critical mass early on. Options to address this challenge include granting permission for existing workers to switch to the new system or outsourcing all or part of the reserves of private sector provident funds to the new pension fund managers.
Download or read book Financial Market Implications of India s Pension Reform written by Ms.Helene Poirson Ward and published by INTERNATIONAL MONETARY FUND. This book was released on 2007-04-01 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: India's planned pension reform will set up a proper regulatory framework for the pension industry and open up the sector to private fund managers. Drawing on international experiences, the paper highlights pre-conditions for the reform to kick-start financial development, including: (i) the buildup of critical mass; (ii) sufficiently flexible investment guidelines and regulations, including on investments abroad; and (iii) concurrent reforms in capital markets. Given the limited scale of the planned reform, the key challenge for India is to achieve sufficient critical mass early on. Options to address this challenge include granting permission for existing workers to switch to the new system or outsourcing all or part of the reserves of private sector provident funds to the new pension fund managers.
Download or read book The Aftermath of Structural Pension Reform written by Cheolsu Kim and published by . This book was released on 2011-01-01 with total page 90 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Aftermath of Structural Pension Reform written by Cheolsu Kim and published by Asian Development Bank. This book was released on 2011-12-01 with total page 161 pages. Available in PDF, EPUB and Kindle. Book excerpt: India's civil service retirement benefit system, based on a defined benefit scheme, imposed an annual expenditure of over $30 billion on the central and state governments. In an effort to truncate the unfunded scheme, which covers 30 million central and state government employees, the Government of India in 2004 decided to replace the traditional defined benefit scheme with a defined contributory scheme known as the New Pension Scheme. This book contains an account of the efforts of five states---Assam, Bihar, Chhattisgarh, Jharkhand, and Madhya Pradesh---to estimate their current pension liabilities, project annual pension costs over the next 15–25 years, and explore options for managing their annual costs. Using newly constructed employee databases, the book discusses in detail the projections for each state and suggests cost-saving measures based on specific needs. Also included is a lengthy discussion of the lessons that emerged in database construction and practical recommendations in managing pension costs.
Download or read book India written by and published by . This book was released on 2007 with total page 22 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 Financial Market Implications of India s Pension Reform written by Hélène K. Poirson and published by . This book was released on 2007 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
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 Old Age Security written by Ramgopal Agarwala and published by World Bank Publications. This book was released on 1997-01-01 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt: The seventh edition of this annual report reviews the long-term prospects for developing countries in light of changes in the global environment and provides a detailed discussion of selected aspects of the global integration process in those countries. The first chapter evaluates prospects for the major elements of the external environment affecting developing countries and the medium-to-long-term outlook for developing countries themselves. The report forecasts that the external environment for developing countries remains broadly favorable. Among the main policy challenges faced by these countries is their ability to adapt to long-run shifts in market opportunities and heightened competitive pressures brought on by global trade liberalization--now increasingly focused on liberalization of trade in services--rising global production, and other forms of global integration. The chapter considers the implications for the world economy of rapid growth and integration in large developing countries such as China, India, and Brazil in the period to 2020. The second chapter looks at the move toward greater globalization of production, broadly defined as cross-border production by multinational enterprises and their networks of affiliates, subcontractors, and other partners. Within this context, the chapter addresses the significance of global production in world output in main groups of countries and economic sectors; factors driving the trend toward global production, including heightened competition, worldwide policy liberalization, and rapid technological progress; the benefits that developing countries can derive from global production, such as new technologies and improved efficiency practices; and the issues for policymakers seeking to enhance participation in global production and maximize its benefits for host countries.
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 Rethinking Pension Reform written by Franco Modigliani and published by Cambridge University Press. This book was released on 2004-08-02 with total page 282 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is unique as it presents an academic and a practical aspect on managing pension funds to clarify the global debate on social security. The authors establish the basic choices in designating any system to help policy makers develop the system that achieves their many objectives. The success of reforms depends on financial innovation to mitigate key risks and some innovations are discussed, which also demonstrates how pension reform choices affect the achievement of retirement objectives. Finally, the authors examine some proposed hybrid options to show how the beneficial features of these hybrids can be captured through good design in a single fund.
Download or read book The Politics of Pension Reform written by Giuliano Bonoli and published by Cambridge University Press. This book was released on 2000-09-14 with total page 202 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comparative study of European countries' efforts to reform pension systems in the context of ageing populations.
