Private Pension Plan Reform
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| Author | : Samuel Pienknagura |
| Publisher | : International Monetary Fund |
| Total Pages | : 52 |
| Release | : 2021-09-10 |
| Genre | : Business & Economics |
| ISBN | : 151359611X |
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.
| Author | : Mr.Benedict J. Clements |
| Publisher | : International Monetary Fund |
| Total Pages | : 86 |
| Release | : 2013-01-25 |
| Genre | : Business & Economics |
| ISBN | : 147556631X |
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.
| Author | : Martin Feldstein |
| Publisher | : University of Chicago Press |
| Total Pages | : 484 |
| Release | : 2008-04-15 |
| Genre | : Political Science |
| ISBN | : 0226241823 |
This volume represents the most important work to date on one of the pressing policy issues of the moment: the privatization of social security. Although social security is facing enormous fiscal pressure in the face of an aging population, there has been relatively little published on the fundamentals of essential reform through privatization. Privatizing Social Security fills this void by studying the methods and problems involved in shifting from the current system to one based on mandatory saving in individual accounts. "Timely and important. . . . [Privatizing Social Security] presents a forceful case for a radical shift from the existing unfunded, pay-as-you-go single national program to a mandatory funded program with individual savings accounts. . . . An extensive analysis of how a privatized plan would work in the United States is supplemented with the experiences of five other countries that have privatized plans." —Library Journal "[A] high-powered collection of essays by top experts in the field."—Timothy Taylor, Public Interest
| Author | : Mitch Frazer |
| Publisher | : |
| Total Pages | : 214 |
| Release | : 2012 |
| Genre | : Old age pensions |
| ISBN | : 9780888046123 |
| Author | : Christina Benita Wilke |
| Publisher | : Peter Lang |
| Total Pages | : 216 |
| Release | : 2009 |
| Genre | : Business & Economics |
| ISBN | : 9783631588512 |
The German pension system was the first formal pension system in the world, designed by Bismarck nearly 120 years ago. It has been very successful in providing high and reliable pension levels at reasonable contribution rates. While the generosity of the German pension system is considered a great social achievement, negative incentive effects of past reforms in the 1970s and 1980s and population aging are threatening the very core of the system. This has led to fundamental pension reforms since 1992. Based on a detailed simulation model of the German pension system, this book provides a thorough assessment of the system and its reforms. It shows that the latest reforms have put the system back onto a stable path and moved it from the old monolithic towards a multi-pillar system.
| Author | : OECD |
| Publisher | : OECD Publishing |
| Total Pages | : 166 |
| Release | : 2019-03-20 |
| Genre | : |
| ISBN | : 9264313737 |
This review builds on the OECD’s best practices in pension design and provides policy recommendations on how to improve the Portuguese pension system, detailing the Portuguese pension system and its strengths and weaknesses based on cross-country comparisons. The Portuguese pension system ...
| Author | : Robert Louis Clark |
| Publisher | : University of Pennsylvania Press |
| Total Pages | : 280 |
| Release | : 2003-05-12 |
| Genre | : History |
| ISBN | : 9780812237146 |
From the Wharton School, offering a comprehensive assessment of the political and financial dimensions of public-sector pensions from the colonial period until the emergence of modern retirement plans in the twentieth century.
| Author | : Olivia S. Mitchell |
| Publisher | : University of Pennsylvania Press |
| Total Pages | : 692 |
| Release | : 2001 |
| Genre | : Business & Economics |
| ISBN | : 9780812235784 |
From the Pension Research Council of the Wharton School, this book explores the diversity of governmental pension plans and investigates how these financial institutions must change in years to come.
| Author | : Mr. Alvar Kangur |
| Publisher | : International Monetary Fund |
| Total Pages | : 26 |
| Release | : 2021-07-16 |
| Genre | : Business & Economics |
| ISBN | : 1513588842 |
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.
| Author | : OECD |
| Publisher | : OECD Publishing |
| Total Pages | : 216 |
| Release | : 2007-06-08 |
| Genre | : |
| ISBN | : |
Pensions at a Glance presents a consistent framework for comparing public-pension policies across OECD countries, as well as reliable data.
