Population Aging and Pension Systems
Author | : F. Desmond McCarthy |
Publisher | : World Bank Publications |
Total Pages | : 60 |
Release | : |
Genre | : |
ISBN | : |
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Author | : F. Desmond McCarthy |
Publisher | : World Bank Publications |
Total Pages | : 60 |
Release | : |
Genre | : |
ISBN | : |
Author | : F. Desmond McCarthy |
Publisher | : World Bank Publications |
Total Pages | : 60 |
Release | : 1996 |
Genre | : Old age pensions |
ISBN | : |
Author | : Robert Holzmann |
Publisher | : World Bank Publications |
Total Pages | : 184 |
Release | : 2009 |
Genre | : Business & Economics |
ISBN | : 0821377329 |
Population aging will affect the performance of pension funds and financial markets in the former transition economies and require determined policy actions to complete financial market development and to promote financial literacy through education.
Author | : Barry Bosworth |
Publisher | : |
Total Pages | : 0 |
Release | : 1998 |
Genre | : Age Distribution (demography) |
ISBN | : 9780815710257 |
The authors report on national demographic trends, examine the current living conditions of the aged population, explain the structure of the retirement system, and estimate future budgetary costs of the public programs. They also discuss national debates over the potential reform of public retirement systems.
Author | : Hua Chai |
Publisher | : International Monetary Fund |
Total Pages | : 21 |
Release | : 2018-12-07 |
Genre | : Business & Economics |
ISBN | : 1484390407 |
This paper studies the effect of demographic change on national saving, global interest rates, and international capital flows, focusing on the role of the public pension system. We develop a small open economy overlapping generations model to illustrate the channels through which demographic variables and pension system generosity interact to affect both private and public saving behavior. We then extend this framework to a two-country setting and simulate scenarios of demographic change and pension reform. We find that the generosity of the pension system plays an important role in determining the movement of the global interest rate and patterns of international capital flows.
Author | : Barbara Boyle Torrey |
Publisher | : |
Total Pages | : 50 |
Release | : 1979 |
Genre | : Demography |
ISBN | : |
Author | : Sheetal K. Chand |
Publisher | : International Monetary Fund |
Total Pages | : 56 |
Release | : 1996-12-30 |
Genre | : Business & Economics |
ISBN | : 9781557756206 |
This paper discusses a study analyzing aging populations and public pension schemes. An aging society is characterized by a growing proportion of the retired to the active working population. The study examines the pension-related aging problem primarily from a fiscal perspective. It analyzes how prospective demographic developments that affect the proportion of the pensionable elderly affect pension outlays. It confirms that very serious fiscal stresses are in prospect for most industrial economies. Addressing such problems satisfactorily will require major actions early, given the long lead times involved in reforming a pension fund's financial position.
Author | : Mr.David Amaglobeli |
Publisher | : International Monetary Fund |
Total Pages | : 47 |
Release | : 2019-01-15 |
Genre | : Social Science |
ISBN | : 1484388992 |
This SDN explores how demographic changes have affected and will affect public and private sector savings, highlighting the interaction between pension systems, labor markets, and demographic variables.
Author | : National Research Council |
Publisher | : National Academies Press |
Total Pages | : 230 |
Release | : 2013-01-10 |
Genre | : Social Science |
ISBN | : 0309261961 |
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.
Author | : F. Desmond McCarthy |
Publisher | : |
Total Pages | : |
Release | : 2016 |
Genre | : |
ISBN | : |
Using an integrated simulation model, the authors estimate the scope and speed of population-aging in China, the cost of supporting the old, and the impact of different reform options and pension arrangements. Among their conclusions: The scope and speed of population-aging in China make the present pension system financially unsustainable, even assuming that GDP grows steadily in the long term. Moving the retirement age back would provide a temporary fix for the current pay-as-you-go pension system but would be politically viable only where there is great demand for labor. Pension funds could be made more sustainable by increasing GDP growth, raising contribution rates, or gradually reducing benefit rates. But the financial costs and social obstacles of those reform options must be carefully assessed. Fully funded, privately managed pension schemes might be feasible, but require a sound regulatory framework and institutional infrastructure, including financial markets that provide adequate savings instruments and insurance options. Pension reform is a long-term, multidimensional problem involving economic, social, political, and cultural factors. Governments should not focus only on taxes and transfers to redistribute income to and among the elderly. Real income growth is needed to cope with poverty among the elderly, especially in developing countries. To establish an adequate, efficient, and equitable social security system, China must maintain long-term socioeco nomic stability and sustainable growth. China could improve the labor market by removing management rigidities, facilitating human resource development, making labor markets more competitive, improving the household registration system, improving incentives, and rewarding hard and innovative work. To reduce unemployment, China can create more job opportunities in nontraditional sectors, especially its underdeveloped service industries. To shift jobs to the nonagricultural sector, it can develop medium-size cities. And to cushion the impact of demographic shocks, China should preserve traditional values and maintain family-community support. Drawing on experience in Europe and Latin America, China should move toward a transparent and decentralized system with 1) a fully funded, portable, defined-benefit pension plan, designed to meet basic needs, and 2) occupational pension plans or personal savings accounts to satisfy demand for maintaining or improving living standards.