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Tax, Welfare, and Pension Reforms in Slovenia: Implications for Work Incentives and Labor Participation

Autor: Egoume-Bossogo, Philippe; Tuladhar, Anita
Año: 2006
Resumen: The labor participation rate in Slovenia has been lower than in the EU-15 (the members states prior to May 2004), particularly for the low-income and older individuals. Using simulations of tax and social benefits and public pensions, the paper shows how the current tax, welfare, and pension systems create disincentives to work among these groups. The paper finds that incentives to retire early are strong for men, especially low-wage earners. The marginal effective tax rates also make it costly for low-income individuals to work and negatively affect the probability of participating. The paper proposes reform measures to enhance work incentives and labor participation, which will be crucial for dealing with population aging and for achieving higher potential growth in Slovenia.

Fuente: Fondo Monetario Internacional (FMI)
Clasificación: Mercado Laboral
Tipo de Publicación: Documentos de Trabajo
Idioma:

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Competition and Performance in the Hungarian Second Pillar

Autor: Impavido, Gregorio
Año: 2006
Resumen: The performance of the Hungarian second pillar since inception has been mixed. This is partly due to a less than satisfactory support for the 1997 pension reform, conservative fund portfolio distributions, the hybrid nature of the mandatory pension fund system, the segmented nature of the market in terms of costs, and a less than aggressive commitment on the part of the Hungarian Financial Supervisory Authority to a low-cost, transparent, and competitive equilibrium. In the accumulation phase, the authorities would need to further promote transparency and comparability of information on costs and investment performance, facilitate migration to lower cost funds, and more generally promote competition. The regulatory framework of the payout phase needs to be overhauled before the first cohort of workers retires.

Fuente: Banco Mundial
Clasificación: Fondos de Inversión
Tipo de Publicación: Documentos de Trabajo
Idioma:

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Social Protection in the Maldives : Options for Reforming Pensions and Safety Nets

Autor: Banco Mundial
Año: 2006
Resumen: This report aims to assist the Government of the Maldives in designing and implementing social protection reforms, in particular for pensions and safety nets. The report gives an overview of poverty, risk and vulnerability in Maldives and analyzes the role and effectiveness of pensions and social assistance policies in helping poor households mitigate and cope with risks. Based on the analysis, the study delineates a menu of options for reforming the existing pension and social safety net system. The structure of the study follows the issues outlined above. Chapter 1 sets the stage with an overview of growth, inequality, poverty and vulnerability. Chapter 2 discusses old-age pensions and pension reform options. Chapter 3 covers safety nets (social assistance), while annexes describe the data sources and contain the analytical findings underpinning the recommendations. The executive summary details the main findings and policy options proposed in the report.

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

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Keeping the Promise of Social Security in Latin America

Autor: Gill, Indermit S.; Packard, Truman; Yermo, Juan
Año: 2005
Resumen: Nations around the world (both large and small, rich and poor) are engaged in debate over how to reform their social security systems and care for the aged. For many countries this debate requires speculation on hypothetical scenarios, but in Latin America a rich body of experience on social security reform has been accumulating for more than a decade (for Chile, more than two decades). This report, entitled, Keeping the Promise of Social Security in Latin America, takes stock of those reforms, evaluates their successes and failures, and considers the lessons that can be drawn for the future of pension policy in the region. The authors draw on a series of background papers and surveys commissioned specifically for this inquiry, as well as existing research conducted by themselves and other pension experts. In the debate on pension reform there is no orthodoxy, as reflected in major differences of opinion among leading experts. Despite more than a decade of experience with pension reform in Latin America, although undoubtedly a major step forward, reforms are still works in progress. This report furthers enrich the policy dialogue that is of crucial importance to the future of the region.

Fuente: World Bank
Clasificación: Seguridad Social y Sistemas de Pensiones
Tipo de Publicación: Libros
Idioma:

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South Asia : Pension Schemes for the Formal Sector, Emerging Challenges and Opportunities for Reform

Autor: Banco Mundial
Año: 2005
Resumen: For centuries informal arrangements such as intra-family transfers have been the primary source of old-age income support in South Asia. That remains true even today. Current patterns suggest that only around 1 in 10 of South Asia's half a billion workers will enter old age with a pension related to pre-retirement earnings. Pension schemes in South Asia cover small shares of the population, concentrated in the formal sector (table 1). Retirement income plans for the formal sector have for the most part performed poorly-both for their participants and for the economy. But while several countries in the region are exploring or already introducing reforms of civil service pension schemes, the performance of retirement income schemes available to the rest of the formal sector has received far less attention. The policy framework for most of these programs has barely changed since they were created, in some cases nearly half a century ago. Moreover, these schemes involve even more complex political economy issues, because governments have often used their funded (or partially funded) structures to address fiscal gaps. Now is a critical time to consider more broadly the problems affecting retirement income schemes for the formal sector. The two defined benefit programs in India and Pakistan, for example, have not yet matured. As time passes, future pension promises will become more deeply entrenched, making reform even more challenging. And as funded plans continue to grow, there is a risk of further misallocation of savings. Perhaps more important, there are encouraging signs of economic growth in the region and thus good possibilities for expanding the coverage of these programs. But even as a growing number of younger workers join the formal labor market and thus formal retirement schemes, urbanization is likely to weaken traditional informal arrangements for the elderly, including intra-family transfers. Strengthening retirement income schemes for the formal sector will help the region better prepare for the demographic change occurring over the next half century. This report seeks to provide a framework for improving the performance of pension schemes for the formal sector. After an introduction, Chapter 2 examines civil service pension schemes, chapter 3 focuses on mandatory private sector schemes, chapter 3 discusses the expansion of voluntary retirement savings arrangements, and chapter 5 is directed toward improving the business environment for retirement savings schemes. Chapter 6 presents conclusions.

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

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