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Social Protection in a World of Crisis: Learning from the Response to the COVID-19 Pandemic in Eastern Europe and the South Caucasus

Autor: Coll-Black, Sarah; Von Lenthe, Cornelius; Brodmann, Stefanie; Shaw, William; Sandford, Judith; Gonzalez, Alejandro; Rigolini, Jamele.
Año: 2023
Resumen: This paper explores the social protection response to the COVID-19 pandemic in Armenia, Azerbaijan, Georgia, Moldova and Ukraine to learn lessons on how to build the resilience of their social protection system. These countries made substantial efforts to address the most serious consequences of the pandemic, pragmatically harnessing existing programs to reach vulnerable groups, while also introducing innovations to fill gaps in the existing social protection system. Rigidities in administrative systems, complex eligibility criteria, as well as weaknesses in information systems, limited governments’ ability to quickly identify and reach those households that were most vulnerable to the impact of the pandemic with adequate support. These challenges strengthen the case for investment in crisis preparedness – most immediately by improving the functioning of social protection systems and setting out the design features and delivery systems to support a response to future covariate shocks.

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

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Finland: Financial Sector Assessment Program-Technical Note on Non-Bank Financial Intermediation and Pension Insurance Companies

Autor: Fondo Monetario Internacional (FMI)
Año: 2023
Resumen: This note evaluates non-bank financial institutions (NBFI) as a sector in Finland, with a special focus on the pension insurance companies (PIC). The analysis was undertaken against the backdrop of the war in Ukraine, the energy crisis, and rising central bank interest rates in the face of a sustained inflationary surge and the aftermath of the COVID-19 pandemic. […] The FIN-FSA has limited resources for supervision of the PICs—who need regular on-site and off-site supervision of governance, investment and operations given their size. Updating the solvency regime would reduce the resources and complexity of short-term scrutiny of solvency. Resources should also be rebalanced from low-risk issues such as registrations and detailed technical advice on by-law changes for small non-PIC Pension Funds. FIN-FSA resources should have allowed deeper and more intensive supervision of a PIC with governance issues rather than only being significantly escalated after a provider triggered a solvency limit.

Fuente: Fondo Monetario Internacional (FMI)
Clasificación: Fondos de Inversión
Tipo de Publicación: Documentos de Trabajo
Idioma:

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Built to Include: Reimagining Social Protection in the Middle East and North Africa

Autor: Ridao-Cano, Cristobal; Moosa, Dalal; Pallares-Miralles, Montserrat; Pinxten, Juul
Año: 2023
Resumen: People in the Middle East and North Africa (MENA) region, and around the word, are hurting. A polycrisis, including COVID-19 and Russia’s invasion of Ukraine, has had—and is continuing to have—a devasting impact on living standards. But most countries in MENA were already struggling to reduce poverty and vulnerability before this cascade of shocks. This report argues that labor market exclusion is at the root of the problem. Many people cannot find jobs—MENA has the highest youth unemployment rate and the lowest women’s labor force participation rate in the world. And most workers are stuck in low-productivity informal jobs with no social protection. This makes them extremely vulnerable to falling into poverty when a shock hits—as the recent crises have pain- fully shown. Reducing labor market exclusion requires, first and foremost, a dynamic private sector that generates productive jobs. Our companion report on jobs in MENA, “Jobs Undone”, provides options to do that. How can social protection policies help? They can play a crucial role in reducing labor market exclusion, by facilitating access to productive jobs, protecting workers, and providing a safety net for people who are left behind and are at risk of poverty. And they should do so in an efficient manner, by ensuring financial responsibility and avoiding unintended consequences on decisions regarding work, retirement, and hiring.

Fuente: Banco Mundial
Clasificación: Mercado Laboral
Tipo de Publicación: Informes
Idioma:

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Mongolia Economic Update, April 2022: Navigating Stronger Headwinds - Fiscal Sustainability of the Mongolian Pension Scheme

Autor: Banco Mundial
Año: 2022
Resumen: The report provides recent macroeconomic developments, outlook, and risks that Mongolia faces. The timing of the release of this report is ideal considering that, the Mongolian economy, which was recovering from the COVID-19 on the back of a successful vaccination program and income support, faced new challenges due to tightening of global financing conditions, triggered by a surge in inflation in advanced economies. This development complicates Mongolia’s repayment of its large external debt. Mounting instability and heightened risks call for adjustments in macroeconomic policies. The report also includes a special topic on fiscal sustainability of the Mongolian pension scheme. A series of parametric reforms are recommended to improve the financial sustainability of the current pensions system, which relies heavily on budget subsidy. Produced in collaboration with the SPJ team, this discussion was timely considering a forthcoming pension reform to improve Mongolia’s long-term fiscal sustainability.

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

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Voluntary Savings Schemes to Protect Informal Workers in Jordan

Autor: Rother, Friederike; Chartouni, Carole; Sanchez-Reaza, Javier; Brodersohn, Ernesto; Pallares-Miralles, Montserrat.
Año: 2022
Resumen: This paper proposes a framework of voluntary savings schemes (VSS) in Jordan that can complement the current formal sector arrangements to better protect informal workers against economic shocks, unemployment, old age, or disability. As benefits of traditional mandatory pension systems worldwide have been cut substantially since the 1990s, voluntary defined contribution schemes are increasingly trying to fill the gap. In many countries, including in low-income countries, special voluntary savings schemes have been introduced to protect informal workers. Blending the knowledge from best practices internationally with the cluster methodology developed specifically for Jordan, the paper provides an overview of the current system of social security in Jordan and presents policy options to lower informality, extend social protection coverage, and provide more adequate protection to workers.

Fuente: Banco Mundial
Clasificación: Beneficios
Tipo de Publicación: Documentos de Trabajo
Idioma:

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