China's Pension System

China's Pension System
Author: Mark C. Dorfman
Publisher: World Bank Publications
Total Pages: 264
Release: 2013-03-08
Genre: Political Science
ISBN: 0821395416

Comprehensive reform of China s pension and social security system is an essential element of achieving its objectives of a harmonious society and sustainable development.

Assessing Chile's Pension System: Challenges and Reform Options

Assessing Chile's Pension System: Challenges and Reform Options
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.

Aging Population, Pension Funds, and Financial Markets

Aging Population, Pension Funds, and Financial Markets
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.

Pension Systems and Old-Age Income Support in East and Southeast Asia

Pension Systems and Old-Age Income Support in East and Southeast Asia
Author: Donghyun Park
Publisher: Routledge
Total Pages: 283
Release: 2012-03-15
Genre: Business & Economics
ISBN: 1136579397

Old age income support will be one of the biggest social and economic challenges facing Asia in the twenty-first century. The growing spotlight on old age income support is largely due to exceptionally rapid population aging which is fundamentally reshaping Asia’s demographic profile. A young continent reaping the demographic dividend of a large youthful workforce is giving way to a greying continent where the ratio of retirees to workers is on the rise. In contrast to industrialized countries, most Asian countries do not yet have mature, well-functioning pension systems. As a result, they are ill prepared to provide economic security for the large number of retirees who loom on the region’s horizon. This book takes a close look at the pension systems of eight countries in East and Southeast Asia – namely, China, Indonesia, Korea, Malaysia, Philippines, Singapore, Thailand and Vietnam – which encompass a wide range of income and development levels. The book provides a comprehensive overview of pension systems in the eight countries, including an in-depth diagnosis to identify their major weaknesses and shortcomings. On the basis of the diagnosis, the book sets forth concrete and specific policy options for reforming Asia’s pension systems. Many policy options for reform are country-specific. For example, a top priority in China is to extend the pension system to rural areas. At the same time, a number of reforms – such as the need to extend coverage – resonate across the entire region. Appropriate reform will enable the region’s pension systems to deliver affordable, adequate and sustainable old-age economic security.

International Handbook of Population Aging

International Handbook of Population Aging
Author: Peter Uhlenberg
Publisher: Springer Science & Business Media
Total Pages: 758
Release: 2009-04-29
Genre: Family & Relationships
ISBN: 1402083564

The International Handbook of Population Aging examines research on a wide array of the profound implications of population aging. It demonstrates how the world is changing through population aging, and how demography is changing in response to it.

The Challenge of Public Pension Reform in Advanced and Emerging Economies

The Challenge of Public Pension Reform in Advanced and Emerging Economies
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.

Aging in Asia

Aging in Asia
Author: National Research Council
Publisher: National Academies Press
Total Pages: 486
Release: 2012-07-31
Genre: Social Science
ISBN: 0309254094

The population of Asia is growing both larger and older. Demographically the most important continent on the world, Asia's population, currently estimated to be 4.2 billion, is expected to increase to about 5.9 billion by 2050. Rapid declines in fertility, together with rising life expectancy, are altering the age structure of the population so that in 2050, for the first time in history, there will be roughly as many people in Asia over the age of 65 as under the age of 15. It is against this backdrop that the Division of Behavioral and Social Research at the U.S. National Institute on Aging (NIA) asked the National Research Council (NRC), through the Committee on Population, to undertake a project on advancing behavioral and social research on aging in Asia. Aging in Asia: Findings from New and Emerging Data Initiatives is a peer-reviewed collection of papers from China, India, Indonesia, Japan, and Thailand that were presented at two conferences organized in conjunction with the Chinese Academy of Sciences, Indian National Science Academy, Indonesian Academy of Sciences, and Science Council of Japan; the first conference was hosted by the Chinese Academy of Social Sciences in Beijing, and the second conference was hosted by the Indian National Science Academy in New Delhi. The papers in the volume highlight the contributions from new and emerging data initiatives in the region and cover subject areas such as economic growth, labor markets, and consumption; family roles and responsibilities; and labor markets and consumption.

Old-age Income Support in the 21st Century

Old-age Income Support in the 21st Century
Author: Robert Holzmann
Publisher: World Bank Publications
Total Pages: 246
Release: 2005-01-01
Genre: Business & Economics
ISBN: 082136040X

The past decade has brought an increasing recognition to the importance of pension systems to the economic stability of nations and the security of their aging populations. This report attempts to explain current policy thinking and update the World Bank's perspective on pension reform. This book incorporates lessons learned from recent Bank experiences and research that have significantly increased knowledge and insight regarding how best to proceed in the future. The book has a comprehensive introduction and two main parts. Part I presents the conceptual underpinnings for the Bank's thinking on pension systems and reforms, including structure of Bank lending in this area. Part II highlights key design and implementation issues where it signals areas of confidence and areas for further research and experience, and includes a section on regional reform experiences, including Latin American and Europe and Central Asia.