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Advancing Intergenerational Solidarity

Autor: Comisión Económica de la Organización de las Naciones Unidas para Europa (UNECE)
Año: 2010
Resumen: Demographic transition in Europe has led to changing household structure with a potential impact on the dynamic between generations. As a consequence of living longer and later childbearing, most adults in Europe belong to a family network of three generations with which they share several decades together in a complex web of ties. The solidarity among generations is a key feature of the economic, financial and social systems in Europe. However, the rapidly changing demographic context, particularly in combination with the demands of the recent economic crisis, could create tensions among generations and represent a challenge to the existing solidarity and cooperation among people of different age groups.

Fuente: Organización de las Naciones Unidas (ONU)
Clasificación: Demografía
Tipo de Publicación: Artículo Académico
Idioma:

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The Payout Phase of Pension Systems: A Comparison of Five Countries

Autor: Rocha, Roberto; Vittas, Dimitri; Rudolph, Heinz P.
Año: 2010
Resumen: This paper provides a comparative summary of the payout phase of pension systems in five countries -- Australia, Chile, Denmark, Sweden, and Switzerland. All five countries have large pension systems with mandatory or quasi-mandatory retirement savings schemes. But they exhibit important differences in the structure and role of different pillars, regulation of payout options, level of annuitization, market structure, capital regulations, risk management, and use of risk sharing arrangements. The paper summarizes the experience of these countries and highlights the lessons they offer to other countries.

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

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Reform and Backlash to Reform: Economic Effects of Ageing and Retirement Policy

Autor: Jensen, Svend E. Hougaard; Jorgensen, Ole Hagen
Año: 2010
Resumen: Using a stochastic general equilibrium model with overlapping generations, this paper studies (i) the effects on both extensive and intensive labor supply responses to changes in fertility rates, and (ii) the potential of a retirement reform to mitigate the effects of fertility changes on labor supply. In order to neutralize the effects on effective labor supply of a fertility decline, a retirement reform, designed to increase labor supply at the extensive margin, is found to simultaneously reduce labor supply at the intensive margin. This backlash to retirement reform requires the statutory retirement age to increase more than proportionally to fertility changes in order to compensate for endogenous responses of the intensity of labor supply. The robustness of this result is checked against alternative model specifications and calibrations relevant to an economic region such as Europe.

Fuente: Banco Mundial
Clasificación: Reformas de Pensiones
Tipo de Publicación: Documentos de Trabajo
Idioma:

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The Gambia - Improving Civil Service Performance : Public Service Pensions Policy Reform Note

Autor: Banco Mundial
Año: 2010
Resumen: There is a general consensus that The Gambia's civil service has a number of key capacity weaknesses. Pay is too low to hire, motivate and retain key technical and professional staffs. Staffs are not managed to achieve results, neither rewarded for good performance nor sanctioned for poor performance or breaking the rules. Frequent removals and transfers of Government officials have undermined job security and institutional knowledge. The main objective of this report is to outline the results of the analysis of civil service capacity constraints. Based on the analysis, the report presents options to consider for the proposed civil service reform program which the Government plans on preparing. The Personnel Management Office (PMO) drafted a reform strategy in August 2007, the 'public sector reform sector strategy paper 2007-2011,' which can be further developed by incorporating the findings of report. The expected goal of this strategy is to build the capacity of the civil service to formulate policies and allocate resources to implement those policies so as to ensure effective delivery of public services. This report is organized as follows: chapter one identifies the overall capacity constraints in the civil service; chapter two analyzes civil service pay and benefits; chapter three assesses human resource management; chapter four focuses on the education and health sectors; and chapter five summarizes the major findings and proposes reform options and the next steps.

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

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Evaluating the Financial Performance of Pension Funds

Autor: Hinz, Richard; Rudolph, Heinz P.; Antolin, Pablo; Yermo, Juan
Año: 2010
Resumen: Since the early 1980s, the structure of arrangements to provide retirement income has gradually moved from defined benefit (DB) systems to various types of arrangements in which the provision of pensions is backed by assets, either in individual accounts or in collective schemes. This change has been motivated principally by governments seeking to lessen the fiscal impact of aging populations and to diversify the sources of retirement income. One of the key results is that many pension systems are now in the process of becoming asset backed. This increasingly links retirement incomes to the performance of these assets, resulting in participants being exposed to the uncertainties of investment markets to determine the level of benefits that they will ultimately receive. The potential consequences of this have never been more evident than during the recent global financial crisis. This introductory chapter provides an overview of the issues and motivation for this work and summarizes the studies that were conducted and their main findings. It concludes with policy-related observations that arise from the overall consideration of the research program. The remainder of the volume contains a selection of the studies undertaken through the partnership that focus on developing approaches to evaluate performance of pension funds and concludes with observations and commentary from four noted experts in the field on the issues raised by this work and the interpretation of the findings.

Fuente: Banco Mundial
Clasificación: Fondos de Inversión
Tipo de Publicación: Libros
Idioma:

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