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Creation of a Reformed Pension System for Civil Servants in Timor-Leste

Autor: Banco Mundial
Año: 2014
Resumen: In February 2011, the government of Timor-Leste (GoTL) enacted a law creating a pension system for civil servants. However, the government now wants to repeal and replace this pension law as it deems it too broad in scope, coverage and cost, and it contains several non-standard design features. In its place, the GoTL wants to consider creating a reformed permanent civil service pension program covering all civil servants. Within a few years thereafter, the government also wants to implement a national social security system. This system will cover formal sector workers, and it is likely civil servants will also participate. Consequently, civil servants may get benefits from both the national social security system and the civil service pension system. Timor-Leste has many civil servants with long service both before and after independence. The reformed pension system for civil servants will give the government a method of honorably allowing its elderly civil servants to exit the work force. At this time, the primary method of caring for elderly civil servants is to continue salary payments. This is because there is no mandatory retirement age for civil servants and the government does not yet have effective procedures for compelling older workers to retire when their productivity level declines. Consequently, the government has informed us that the civil service pension is unlikely to pay benefits to any civil servants until such time as these two issues are resolved. The government estimates this will take five years (until 2018). Until that time, elderly civil servants will continue to receive their salary and will not receive a pension from the reformed civil service pension program.

Fuente: Banco Mundial
Clasificación: Seguridad Social y Sistemas de Pensiones
Tipo de Publicación: Documentos de Trabajo
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Pension Risk and Risk Based Supervision in Defined Contribution Pension Funds

Autor: Randle, Tony; Rudolph, Heinz P
Año: 2014
Resumen: The main goal of any pension system is to ensure that members receive an adequate pension income when they retire. Whilst traditional defined benefit (DB) pension plans set out what that pension income will be in advance and then strive to deliver it, the growing number of defined contribution (DC) plans accumulates a sum of assets which can then be turned into a pension income on retirement. However, the amount of this retirement income is not set in advance. In the absence of a proper regulatory framework, feature n DC plans leads to a focus by not only pension providers, but also regulators and pension plan members themselves on the short-term accumulation of pension assets rather than the longer-term goal of securing an adequate retirement income. The paper is organized as follows: chapter two discusses the origins of risks based supervision and discusses the role of capital in the alignment of incentives in financial institutions. Chapter three discusses the concept of risk based supervision for pension funds, and its limitations in the case of DC pension schemes. Chapter four discusses the effectiveness of RBS schemes in DC systems in emerging economies, and the last section provides some lessons learned.

Fuente: Banco Mundial
Clasificación: Regulación y Supervisión
Tipo de Publicación: Informes
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Making the Investment Case for Social Protection

Autor: Cécile Cherrier; Franziska Gassmann; Andrés Mideros Mora; Pierre Mohnen
Año: 2014
Resumen: The focus in this paper is on non-contributory social transfers which are considered to be the main social protection instruments targeted specifically at poor and vulnerable households, and which are financed from general government revenues. Eligibility for non-contributory transfers does not depend on employment records and contributions made in the past. The aim of the paper is to take stock of the main experiences and unpack some of the common questions raised in relation to the use of ex-ante cost-benefit analyses for the promotion and design of non-contributory social protection policies and programmes in developing countries. We conclude by highlighting a number of important questions, suggesting critical conditions for carrying out and using such analyses successfully, and proposing directions for future research.

Fuente: Organización de las Naciones Unidas (ONU)
Clasificación: Seguridad Social y Sistemas de Pensiones
Tipo de Publicación: Documentos de Trabajo
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The Chilean system of contributory pensions as locus of rivalry and of a new social compact

Autor: Ogranización de las Naciones Unidas (ONU), Comisión Económica para América Latina (CEPAL), División de Desarrollo Social; Agencia Alemana para Cooperación Técnica
Año: 2014
Resumen: Este estudio evalúa el sistema previsional contributivo en Chile y ofrece algunas recomendaciones para su reforma, desde la perspectiva de los derechos sociales que generan expectativas de satisfacción. El objetivo primordial de cualquier sistema previsional es brindar seguridad de ingresos a las personas mayores, y las pensiones contributivas deben reflejar el ahorro logrado a lo largo de la vida laboral, de modo de garantizar que, para niveles similares de esfuerzo, se obtenga una protección similar y proporcionada.

Fuente: Comisión Económica para América Latina (CEPAL)
Clasificación: Reformas de Pensiones
Tipo de Publicación: Documentos de Trabajo
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The Inverting Pyramid: Pension Systems Facing Demographic Challenges in Europe and Central Asia

Autor: Schwarz, Anita M.; Arias, Omar S.; Zviniene, Asta; Rudolph, Heinz P.; Eckardt, Sebastian; Koettl, Johannes; Immervoll, Herwig; Abels, Miglena
Año: 2014
Resumen: Pension systems in Europe and Central Asia are facing unprecedented demographic change. While many of the countries in the region have undertaken reforms when the economy faces difficult times, these reforms are frequently reversed when the economy improves. The demographic challenges that the region faces require a sustained effort toward changing the pension system toward something which provides adequate and sustainable benefits. The book documents the increased generosity of pension systems in Europe from their initial inception, noting that the current expectations of the public are based on the most recent round of generosity. The book seeks to show a nontechnical audience that such generosity is neither based on customary practice nor affordable in the future. The increased generosity in the past was only possible because the demographic pyramid was expanding, but as it inverts with fewer young people and more elderly, that generosity will no longer be affordable. Returning to the pension system of the 1970’s will go a long way toward providing adequate and sustainable benefits in the future. Moving to a more sustainable system will require reforms to labor markets, improvements in savings mechanisms, and may require additional public resources. The extent to which a country can undertake reforms in labor markets, savings, and public finances can influence the extent to which its pension system will have to change, with different solutions possible for different countries. But in all cases, the changes that need to be made have to be widely discussed and publicly accepted to prevent reversals. The book hopes to stimulate widespread public discussion of the issue to help countries make sustainable choices with gradual implementation, before they face such daunting challenges that they have to undertake sudden, harsh measures.

Fuente: Banco Mundial
Clasificación: Demografía
Tipo de Publicación: Libros
Idioma:

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