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Outcomes and Risk Based Supervision in Pensions: Methodology with a Case Study for Costa Rica

Autor: Price, William; Ashcroft, John; Inglis, Evan
Año: 2016
Resumen: This report illustrates a new methodology to develop an Outcomes and Risk Based Supervision (ORBS) framework for funded pensions with a case study of Costa Rica. The approach was used in a FIRST1 funded project in Costa Rica with the regulator and supervisor of pensions SUPEN. The intention is to highlight an approach that may be useful in the region, and globally, to help agencies responsible for private pensions to focus on the long run outcomes they are seeking to achieve, identify the risks to these outcomes and implement the most effective solutions to these risks. This is all done through a consistent framework that embeds the long run outcomes at the heart of the process, and so lends itself naturally to the greater focus on results, and Monitoring and Evaluation that are central to modern development projects. The focus on Costa Rica also helps illustrate the approach in a country that has not typically been used as a case study. This helps to broaden the range of case studies available for practitioners and expands the possibilities for ‘South-South’ learning. It also shows how the approach can be tailored to the specific characteristics of a country. The report starts with a description of the Costa Rican pension system. This provides the context for the case study. It helps to illustrate the variety of defined benefit and defined contribution pensions that needed to be covered. It also identifies the wide range of different institutions involved in delivering good pension outcomes, and hence the ‘eco-system’ in which the supervisor needs to operate effectively to improve outcomes for the benefits of pension savers in Costa Rica.

Fuente: Banco Mundial
Clasificación: Regulación y Supervisión
Tipo de Publicación: Informes
Idioma:

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The Greek Pension Reform Strategy 2010–2015

Autor: Symeonidis, Georgios
Año: 2016
Resumen: In 2010, Greece, under the pressure of an increasing public debt, was forced to resort to the Troika, which is the designation of the triumvirate which comprises the European Commission (EC), the European Central Bank (ECB) and the International Monetary Fund (IMF). The Troika agreed to provide Greece with financial help, on special terms recorded in a Memorandum of Understanding (MoU) between the Greek Government and the Troika. One of the most important reforms that are recorded in the MoU is the Pension Reform since the Greek Social Security System had long showed signs of unsustainability and insolvency. The recession also caused further impoverishment of old-age people followed by the rest of the population and this became one of the main reasons that the reforms could not be fully implemented for fear of further impoverishment of pensioners and social exclusion in general, as well as political cost which is always a key factor. This paper aims to further analyze and present the impact of the reforms on the Greek Pension System and the people who rely on it, through an actuarial, statistical analysis and point out the changes in the main factors mentioned above and how they correlate.

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

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Benefits and Costs of Social Pensions in Sub-Saharan Africa

Autor: Guven, Melis U.; Leite, Phillippe G.
Año: 2016
Resumen: The lack of efficient social security systems, the presence of large informal sectors, and the pace at which the population is aging in some Sub-Saharan African countries are red flags warning of a potential long-term problem: that is, the inability of countries to provide old-age income security to all. Many adults in the region have difficulties accessing health care and other essential services, increasing their vulnerability and their likelihood of becoming impoverished as they age. Since the coverage of contribution-based pension schemes has remained low for decades, direct cash grants (henceforth, universal social pensions) are increasingly proposed as a way to address the coverage gap and to fight poverty among the elderly. This paper explores the role of universal social pensions in 12 Sub-Saharan African countries, showing that they may be part of the answer to the coverage gap in pensions and may be important from a human rights lens. However, they have limited impact on poverty because a significant share of the elderly population is found not to fall into the poorest and most vulnerable segments of society. Universal social pensions can also be quite costly, difficult to sustain in low-income settings, and less cost-effective at fighting poverty compared to poverty-targeted cash transfer programs. Implementation errors are quite prevalent in universal social pension schemes, contradicting the apparent simplicity of identifying program beneficiaries. The report’s main findings are that a discussion of poverty targeted programs vis-à-vis universal programs is less relevant for policymakers than how to design and implement a policy or a mix of coordinated and harmonized policies under a robust system that allows governments to reach their main objectives of meeting the basic needs of their most vulnerable citizens.

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

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Aportes de los programas de capitalización individual y sus ventajas sobre los programas públicos de reparto

Autor: Federación Internacional de Administradoras de Fondos de Pensiones (FIAP)
Año: 2016
Resumen: Las reformas previsionales basadas en capitalización individual desactivaron una bomba de tiempo. Los sistemas de reparto se basan en una pirámide poblacional que en la mayoría de los países ya no existe, debido al aumento de las expectativas de vida y a la caída de la tasa de fertilidad. Los cambios demográficos hacen imposible mantener un mecanismo basado en que los trabajadores (cada vez en menor cantidad) financien los beneficios de los pensionados (cada vez en mayor cantidad). Es así como varios países, como por ejemplo Chile (1981), Perú (1993), Colombia (1994) y México (1997), decidieron introducir en sus sistemas de seguridad social un programa de capitalización individual.

Fuente: Federación Internacional de Administradoras de Fondos de Pensiones (FIAP)
Clasificación: Reformas de Pensiones
Tipo de Publicación: Notas de Pensiones
Idioma:

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Libertad en el retiro de fondos de pensiones: Lecciones sobre la experiencia del Reino Unido

Autor: Federación Internacional de Administradoras de Fondos de Pensiones (FIAP)
Año: 2016
Resumen: Tras la puesta en marcha de la reforma Freedom and Choice (Libertad y Elección) en el Reino Unido, que entrega absoluta libertad a los individuos para hacer uso de sus fondos previsionales de contribución definida, varias lecciones de política pueden ser extraídas para la realidad de nuestros países latinoamericanos.

Fuente: Federación Internacional de Administradoras de Fondos de Pensiones (FIAP)
Clasificación: Reformas de Pensiones
Tipo de Publicación: Notas de Pensiones
Idioma:

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