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International Patterns of Pension Provision

Autor: Palacios, Robert; Pallarès-Miralles, Montserrat
Año: 2000
Resumen: Cross country data on public and private pension schemes are presented and explained. Relevant World Bank demographic projections and other indicators previously reported in ‘averting the old age crisis is updated. Relationships between key indicators are highlighted. Many of the data are available as retrievable spreadsheets in the World Bank’s Social Protection Web-site at http://www.worldbank.org/pensions.

Fuente: Banco Mundial
Clasificación: Seguridad Social y Sistemas de Pensiones
Tipo de Publicación: Documentos de Trabajo
Idioma:

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Pension reform: what the debate is about

Autor: Bollé, Patrick
Año: 2000
Resumen: Provides guidance on the discussion underway in many countries on the reform of retirement pensions. Explains the main types of pension regime characterized by differences in financing, in the manner of determining benefits, voluntary or mandatory public or private, and then how the elements are often combined. Reviews the central issues in pension reform, including demographic trends, and retirement age, and the question of legal principles and rights.

Fuente: Organización Internacional del Trabajo (OIT)
Clasificación: Reformas de Pensiones
Tipo de Publicación: Artículo Académico
Idioma:

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Pension restructuring in Central and Eastern Europe: an analysis of recent trends. [Special topic:] Social protection: what workers and trade unions

Autor: Fultz, Elaine; Ruck, Markus
Año: 2000
Resumen: The restructuring of national pension schemes has been a major and contentious issue in most Central and Eastern European (CEE) countries in recent years. The reforms being pursued involve both reducing pension scheme costs and making benefits more individualized and related to earnings, thereby departing from the universal and redistributive pension policies of the former socialist governments. In addition, some countries – i.e., Hungary and Poland – have adopted so-called radical reforms which partially replace public pension schemes with mandatory systems of commercially-managed individual savings accounts. The result of these changes is growing differentiation both within and between countries in the extent of old age protection provided. This paper describes these reforms and identifies a set of early patterns in their implementation. The analysis has three parts. The first provides background, portraying the pension schemes which were inherited by CEE governments, the impact of the transition, and the expected role of demographic changes in coming decades. Part two describes the reforms undertaken across the region during the 1990s. These are discussed in two broad categories, restructuring of public schemes and privatization, and a set of early implementation patterns is identified. The third part draws conclusions and offers recommendations for strengthening pension policy deliberations.

Fuente: Organización Internacional del Trabajo (OIT)
Clasificación: Seguridad Social y Sistemas de Pensiones
Tipo de Publicación: Artículo Académico
Idioma:

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The Korean Pension System at a Crossroads

Autor: Banco Mundial
Año: 2000
Resumen: Old age income security in Korea is at a crossroads. The traditional system of family support is giving way to formal retirement savings--most of it mandated by government. Government employees and private school teachers are obliged to participate in special occupational schemes that operate on a pay-as-you-go basis while private sector workers must contribute to the partially funded National Pension Scheme (NPS). Employers must provide retirement allowances, a retirement cum severance payment program whose obligations are largely unfunded. These schemes have evolved over several decades and are not based on clear targets for the level of mandated retirement income or sustainable payroll tax burdens. They currently pay benefits to a minority of older Koreans. This means that over the next few years only social assistance programs will have a significant impact on the incomes of the current elderly poor. This report presents several alternative reform options. These include reforms to some elements of the existing system as well as an integrated or systemic reform option. The proposed reform allows younger workers to opt out of the earnings-related portion of the NPS. The combination of a mandatory private pension scheme--which would replace retirement allowances--and a reduced public pension scheme would result in a reasonable replacement rate target. New entrants would be obliged to join this system while older workers would continue to be covered by the current scheme.

Fuente: Banco Mundial
Clasificación: Seguridad Social y Sistemas de Pensiones
Tipo de Publicación: Libros
Idioma:

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Nicaragua: Pension Reform Proposal

Autor: Banco Mundial
Año: 2000
Resumen: The study reviews the current social security system, and its characteristics, analyzing the shortcomings of the Old Age, Disability and Survivor's Insurance (IVM) system, based on a defined benefit Pay-as-you-go (PAYG) scheme, no longer viable, given its low payroll taxes, overly generous benefits, and high rates of evasion, all systemic problems, which combined with institutional, and administrative weaknesses of the Instituto Nicaraguense de Seguridad Social (INSS), caused a cash deficit since 1997, and depletion of its reserves for the immediate future. The report explores long term finances, and the rationale for undertaking a systemic reform with mandatory, and defined contributions, based on individual capitalization accounts. It recommends closing the current PAYG system to new entrants, with the proviso for those aged 45-50, to opt for the new system, granting recognition for their acquired rights. General revenues, payroll taxes, and pension fund reserves, or other possible sources, should finance the transition to the new scheme, to be administered by pension fund managers. Funds should be invested both domestically, and abroad, ensuring diversification of the portfolio, as well as protection from local economic, and political manipulation.

Fuente: Banco Mundial
Clasificación: Reformas de Pensiones
Tipo de Publicación: Informes
Idioma:

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