Costa Rica A Pension Reform Strategy
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Costa Rica A Pension Reform Strategy
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Author :
language : en
Publisher: World Bank Publications
Release Date : 2000-01-01
Costa Rica A Pension Reform Strategy written by and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000-01-01 with Political Science categories.
"Early retirement and lax eligibility for disability are bad for the economy because they reduce labor productivity and the supply of experienced workers, and they are bad for the system because they impose a heavy financial burden that makes it nonsustainable." Costa Rica is at a turning point with respect to its social security system. While half the work force is covered and beneficiaries have fared well in the past, the pay-as-you-go (PAYG) pension system is unsustainable for the future. This publication describes the present pension system, its shortcomings, and defends the need for urgent reform. It also makes recommendations on how to reform the system, what should be changed first, and exactly what areas of the pension system should be modified.
Costa Rica
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Author : World Bank
language : en
Publisher:
Release Date : 1999
Costa Rica written by World Bank and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with categories.
Costa Rica
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Author :
language : en
Publisher:
Release Date : 1999
Costa Rica written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with categories.
Costa Rican Pension System
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Author : Asl? Demirgüç-Kunt
language : en
Publisher: World Bank Publications
Release Date : 1995
Costa Rican Pension System written by Asl? Demirgüç-Kunt and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with Costa Rica categories.
Costa Rican Pension System Options For Reform
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Author : Asli Demirgüç-Kunt
language : en
Publisher:
Release Date : 1999
Costa Rican Pension System Options For Reform written by Asli Demirgüç-Kunt and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with Electronic books categories.
June 1995 Costa Rica's demographic structure is becoming increasingly unfavorable, and its pension system is maturing, so reform of the social security system should be implemented without delay. One option for comprehensive reform is to move toward a multipillar system, with a basic pay-as-you-go public pillar complemented by a defined-contribution savings pillar and additional voluntary savings schemes. The Costa Rican Social Insurance Fund--the country's main social security institution--was established in 1941 to provide compulsory social insurance coverage for employees, through old-age, disability, and survivor pensions, as well as sickness and maternity benefits. The current status of the pension system is alarming, and reform is urgently needed. Among other things: * The system is costly to the government. * It promises generous benefits that are difficult to sustain. * Contribution rates are low. * The link between contributions and benefits is weak. * Inflation indexing is inadequate and ad hoc. * Although there is no explicit early retirement system, individuals have found a substitute for early retirement in disability pensions. * Health benefits to pensioners are paid out of pension contributions. * The system's reserves have not been well invested. Reform of the system should be immediate. At a minimum, reform should include: * Reduced benefits. * Higher contribution rates. * A higher retirement age. * A stronger link between contributions and benefits. * The unbundling of health and pension accounts. This paper--a product of the Finance and Private Sector Development Division, Policy Research Department--is part of a larger effort in the department to study old age security.
Pension Reform And The Development Of Pension Systems
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Author : Emily S. Andrews
language : en
Publisher: World Bank Publications
Release Date : 2006
Pension Reform And The Development Of Pension Systems written by Emily S. Andrews and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Business & Economics categories.
"Formal pension systems are an important means of reducing poverty among the aged. In recent years, however, pension reform has become a pressing matter, as demographic aging, poor administration, early retirement, and unaffordable benefits have strained pension balances and overall public finances. Pension systems have become a source of macroeconomic instability, a constraint to economic growth, and an ineffective and/or inequitable provider of retirement income."
Assessing Chile S Pension System Challenges And Reform Options
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Author : Samuel Pienknagura
language : en
Publisher: International Monetary Fund
Release Date : 2021-09-10
Assessing Chile S Pension System Challenges And Reform Options written by Samuel Pienknagura and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-09-10 with Business & Economics categories.
Chile’s pension system came under close scrutiny in recent years. This paper takes stock of the adequacy of the system and highlights its challenges. Chile’s defined contribution system was quite influential when introduced, and was taken as an example by other countries. However, it is now delivering low replacement rates relative to OECD peers, as its parameters did not adapt over time to changing demographics and global returns, while informality persists in the labor market. In the absence of reforms, the system’s inability to deliver adequate outcomes for a large share of participants will continue to magnify, as demographic trends and low global interest rates will continue to reduce replacement rates. In addition, recent legislation allowing for pension savings withdrawals to counter the effects from the COVID-19 pandemic, is projected to further reduce replacement rates and increase fiscal costs. A substantial improvement in replacement rates is feasible, via a reform that raises contribution rates and the retirement age, coupled with policies that increases workers’ contribution density.
Costa Rica Investment And Business Guide Volume 1 Strategic And Practical Information
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Author : IBP USA
language : en
Publisher: Lulu.com
Release Date : 2013-08
Costa Rica Investment And Business Guide Volume 1 Strategic And Practical Information written by IBP USA and has been published by Lulu.com this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-08 with Business & Economics categories.
Costa Rica Investment and Business Guide - Strategic and Practical Information
Costa Rica Banking And Financial Market Handbook Volume 1 Strategic Information And Regulations
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Author : IBP, Inc.
language : en
Publisher: Lulu.com
Release Date :
Costa Rica Banking And Financial Market Handbook Volume 1 Strategic Information And Regulations written by IBP, Inc. and has been published by Lulu.com this book supported file pdf, txt, epub, kindle and other format this book has been release on with categories.
Costa Rica Business Law Handbook Volume 1 Strategic Information And Basic Laws
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Author : IBP, Inc.
language : en
Publisher: Lulu.com
Release Date : 2018-04-30
Costa Rica Business Law Handbook Volume 1 Strategic Information And Basic Laws written by IBP, Inc. and has been published by Lulu.com this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-04-30 with Business & Economics categories.
Costa Rica Business Law Handbook - Strategic Information and Basic Laws