Linkages Between Private Pensions And Social Security Reform
DOWNLOAD
Download Linkages Between Private Pensions And Social Security Reform PDF/ePub or read online books in Mobi eBooks. Click Download or Read Online button to get Linkages Between Private Pensions And Social Security Reform book now. This website allows unlimited access to, at the time of writing, more than 1.5 million titles, including hundreds of thousands of titles in various foreign languages. If the content not found or just blank you must refresh this page
Linkages Between Private Pensions And Social Security Reform
DOWNLOAD
Author :
language : en
Publisher:
Release Date : 1982
Linkages Between Private Pensions And Social Security Reform written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1982 with Old age pensions categories.
Linkages Between Private Pensions And Social Security Reform An Information Paper 97th Congress 2nd Session 1982
DOWNLOAD
Author : United States. Congress. Senate. Special Committee on Aging
language : en
Publisher:
Release Date : 1982
Linkages Between Private Pensions And Social Security Reform An Information Paper 97th Congress 2nd Session 1982 written by United States. Congress. Senate. Special Committee on Aging and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1982 with categories.
Social Security Reform
DOWNLOAD
Author : United States. General Accounting Office
language : en
Publisher: DIANE Publishing
Release Date : 1999
Social Security Reform written by United States. General Accounting Office and has been published by DIANE Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with Deferred compensation categories.
Sequencing Social Security Pension And Insurance Reform
DOWNLOAD
Author : Dimitri Vittas
language : en
Publisher:
Release Date : 1999
Sequencing Social Security Pension And Insurance Reform written by Dimitri Vittas 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.
December 1995 The full benefits of social security reform will not be realized until social pension systems are restructured and downsized, contribution rates lowered, and the scope for private pension funds (voluntary or mandatory) increased. Reform of the insurance sector is also essential because of the close links between pensions and life, disability, and annuity insurance. For both economic and regulatory reasons, most developing countries have underdeveloped pension funds and insurance sectors, and their social security systems face many financial and organizational problems. Wide-ranging reform would produce considerable economic and social benefits. A restructured social security system would avoid financial insolvency and be better able to meet its objectives of redistribution. The development of pension funds and insurance business would generate long-term financial resources that could stimulate the growth of capital markets and might help provide adequate, affordable long-term benefits to members and policyholders. The main objectives of an ambitious reform program should be to: * Prevent the insolvency of the social security system (a longer run problem for developing countries with young populations) and thus ensure adequate but affordable, sustainable pension benefits. * Remove incentives that encourage the strategic manipulation, and hamper the efficient functioning, of labor markets. * Control the occurrence of perverse, capricious redistribution by removing the many design faults that afflict security systems in most developing countries. * Generate long-term financial savings that can help stimulate the modernization and growth of capital markets, finance long-term investments, and facilitate privatization. Although there is no single optimal way to sequence and pace a reform program, the full benefits of reform will not be realized until social pension systems are restructured and downsized, contribution rates lowered, and the scope for private pension funds (whether voluntary or mandatory) increased. One often-ignored imperative is to defer indexing the pension system until its many design flaws are corrected. Finally, reform of the insurance sector is essential for the whole program to succeed, because of the close links between pension reform and the provision of life, disability, and annuity insurance services. This paper -- a product of the Financial Sector Development Department -- is part of a larger effort in the department to study pension systems and contractual savings.
Public And Private Social Policy
DOWNLOAD
Author : D. Béland
language : en
Publisher: Springer
Release Date : 2008-11-28
Public And Private Social Policy written by D. Béland and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-11-28 with Political Science categories.
Exploring the increasing involvement of the private sector in social policy, this collection examines the complex relationship between the public and private sectors from an international perspective, focusing on health and pension policies.
Social Security Reform In Advanced Countries
DOWNLOAD
Author : Toshihiro Ihori
language : en
Publisher: Routledge
Release Date : 2002-12-26
Social Security Reform In Advanced Countries written by Toshihiro Ihori and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-12-26 with Business & Economics categories.
Increasingly ageing populations and a slowing rate of growth in the macroeconomy are forcing advanced countries to reconsider their social security programmes. The need for detailed examination of the possible reforms and initiatives has never been greater.This book brings together internationally-renowned scholars to evaluate the effect of recent
Social Security Pensions
DOWNLOAD
Author : C. Gillion
language : en
Publisher: International Labor Office
Release Date : 2000
Social Security Pensions written by C. Gillion and has been published by International Labor Office this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Business & Economics categories.
By providing a balanced assessment and factual review of the praticalities and structure behind various pension schemes around the world, this book assists decision-makers in forming effective, viable pension policy.
Privatizing Social Security
DOWNLOAD
Author : Martin Feldstein
language : en
Publisher: University of Chicago Press
Release Date : 2008-04-15
Privatizing Social Security written by Martin Feldstein and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-04-15 with Political Science categories.
This volume represents the most important work to date on one of the pressing policy issues of the moment: the privatization of social security. Although social security is facing enormous fiscal pressure in the face of an aging population, there has been relatively little published on the fundamentals of essential reform through privatization. Privatizing Social Security fills this void by studying the methods and problems involved in shifting from the current system to one based on mandatory saving in individual accounts. "Timely and important. . . . [Privatizing Social Security] presents a forceful case for a radical shift from the existing unfunded, pay-as-you-go single national program to a mandatory funded program with individual savings accounts. . . . An extensive analysis of how a privatized plan would work in the United States is supplemented with the experiences of five other countries that have privatized plans." —Library Journal "[A] high-powered collection of essays by top experts in the field."—Timothy Taylor, Public Interest
The Political Economy Of Pension Reform
DOWNLOAD
Author : Evelyne Huber
language : en
Publisher: Conran Octopus
Release Date : 2000
The Political Economy Of Pension Reform written by Evelyne Huber and has been published by Conran Octopus this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Latin America categories.
Since pension schemes-along with health care and education-absorb the largest amount of social expenditure in all countries, their reform has a potentially major impact both on the fiscal situation of the state and on the life chances of citizens who stand to win or lose from new arrangements. This makes pension reform a highly controversial issue; and, except for the addition of new programmes and benefits, major restructuring of existing pension systems has been extremely rare in advanced industrial democracies. It was also rare in Latin America before the 1980s and 1990s. But there has been a great deal of experimentation within the region during the past decade. This paper examines the larger economic, social and political context of Latin American pension reform and compares experiences in different countries of the region with options available in Western European societies during the same period. The authors argue that the type of pension reform undertaken in Latin America has been an integral part of the structural adjustment programmes pursued by Latin American governments, under the guidance of international financial institutions (IFIs). Although there was a range of possible remedies to the problems of pension systems in different Latin American countries, neo-liberal reformers and the international financial institutions preferred privatization over all others. They claimed that privatization would be superior to other kinds of reform in ensuring the financial viability of pension systems, making them more efficient, establishing a closer link between contributions and benefits and promoting the development of capital markets-thus increasing savings and investment. And they were able to push through some of their suggestions for reform in spite of considerable opposition from pensioners, trade unions and opposition political parties. Interestingly enough, their pressure proved least effective in the more democratic countries of the region. In Costa Rica, for example, citizens preferred to reform the public system-eliminating the last pockets of privilege for public sector workers and ensuring that new levels of contribution would be adequate to provide minimum benefits for the aged and infirm. In Uruguay, citizens forced a public referendum, through which they rejected a proposal for privatization. At a later stage, they did permit the introduction of private investment accounts, but not at the cost of eliminating the public programme. In Argentina and Peru, after the legislature refused to authorize partial privatization, this was eventually pushed through by presidential decree. Only in Chile and Mexico has there been a complete shift to private pension funds-but, in both cases, influential sectors of the elite, including the military, have been allowed to keep their previous, publicly managed group funds. Looking at the only privatized pension system in existence long enough to allow for some assessment of its consequences-that of Chile-the authors find that many of the claims made by supporters of privatization are not substantiated by the evidence. The first discrepancy between neo-liberal predictions and the reality of Chilean pension reform has to do with efficiency. All previous claims to the contrary, private individual accounts have proven more expensive to manage than collective claims. In fact, according to the Inter-American Development Bank, by the mid-1990s administration of the Chilean system was the most expensive in Latin America. The second disproved claim involves yield. When administrative costs are discounted, privately held and administered pension funds in Chile show an average annual real return of 5.1 per cent between 1982 and 1998. Furthermore high fees and commissions-charged at a flat rate on all accounts-have proven highly regressive. When levied against a relatively modest retirement account, for example, these standard fees reduced the amount available to the account holder by approximately 18 per cent. When applied to the deposit of an individual investing 10 times more, the reduction was slightly less than 1 per cent. The third discrepancy involves competition. Although it was assumed that efficiency within the private pension fund industry would be associated with renewed competitiveness-while the public pension system represented monopoly-the private sector has in fact become highly concentrated. The three largest pension fund administrators in Chile handle 70 per cent of the insured. And to reduce advertising costs, public regulators are limiting the number of transfers among companies that any individual can make. A fourth unfulfilled promise of privatization in Chile has to do with expansion of coverage. It was assumed that the existence of private accounts would increase incentives for people to take part in the pension sc heme, but in fact this has not happened. Coverage and compliance rates have remained virtually constant. A fifth major claim was that the conversion of the public pension system into privately held and administered accounts would strengthen capital markets, savings and investment. But a number of studies have recently concluded that, at best, this effect has been marginal. And finally, the dimension of gender equity within a fully privatized pension scheme is being subjected to increasing scrutiny. Women typically earn less money and work fewer years than men. Therefore, since pension benefits in private systems are strictly determined by the overall amount of money contributed to them, women are likely to receive considerably lower benefits. Public pension systems, in contrast, have the possibility of introducing credits for childcare that reduce this disadvantage. Sweden is an example of countries that have embarked on this course. In the latter part of the paper, Huber and Stephens widen their comparative framework to include recent pension reforms in advanced industrial countries. There, where economic crisis was not as severe and where pressure from international financial institutions was not significant, much broader options for reform were available. In fact, although long-established systems were under stress, no developed country opted for complete privatization. Complex measures were taken to strengthen the funding base of national pension systems, including changes in investment procedures and changes in rules for calculating pension benefits. Reforms also increased retirement age, as well as the number of years required to qualify for a full pension. But even the most thoroughgoing reforms retained a central role for public schemes in ensuring old-age benefits. In conclusion, the authors consider steps that can be taken to craft pension reforms with more desirable results than those obtained to date in Latin America. They recommend measures that address the problem of an aging population by increasing the ability of each generation to pay for its own pensions-rather than relying primarily on the contributions of preceding generations of insured workers. Pension payments should be invested in a variety of financial instruments and benefits must ultimately be related to the yields obtained. Such a strategy does not require introduction of privately managed, individually held, investment funds. On the contrary, risk is lessened by relying instead on collectively managed funds, in which accounts can either be identified with individuals or-more equitably-with generations of contributors. Reformed public pension systems should also contain minimum "citizenship pensions" that guarantee subsistence income in old age to all individuals as a matter of right. Such a measure, financed from general tax revenue rather than from personal contributions, is not beyond the means of medium income countries in Latin America and the Caribbean. In fact, some Nordic countries introduced citizenship pensions when their GNP per capita was lower than that of most Latin American countries today.
Retirement Pensions And Social Security
DOWNLOAD
Author : Gary S. Fields
language : en
Publisher: MIT Press
Release Date : 1984
Retirement Pensions And Social Security written by Gary S. Fields and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1984 with Business & Economics categories.
Research report on various economic models of the income opportunities of older workers in the USA to investigate the effect on retirement decisions - examines the determinants of retirement (health, social security, occupational pension schemes, private sector assets); presents regression, discrete choice and nonparametric models to evaluate retirement age responses to a change in budget sets; reviews explanation of workers' retirement age preferences across a sample of ten pension schemes; includes simulations of effects of 4 social security reforms on retirees' income.