Reform Options For Mature Defined Benefit Pension Plans The Case Of The Netherlands

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Reform Options For Mature Defined Benefit Pension Plans The Case Of The Netherlands

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Author : Mr.Marc Gerard
language : en
Publisher: International Monetary Fund
Release Date : 2019-01-25

Reform Options For Mature Defined Benefit Pension Plans The Case Of The Netherlands written by Mr.Marc Gerard 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 2019-01-25 with Business & Economics categories.

The Netherlands has been operating fully funded, defined benefit second pillar pension schemes that have consistently ranked high worldwide for delivering high replacement rates while featuring strong solidarity among members. Yet the long-term sustainability of the Dutch pension funds has been undermined in recent years by protracted low interest rates and unfavorable demographic developments, exacerbating controversies over intergenerational transfer mechanisms within the plans. This has prompted a national debate over ways to move toward more individualization while preserving financial security at retirement for all. This paper draws on this experience, illustrated by stress testing simulations and assessed vis-à-vis solutions implemented in peer countries, to discuss the main policy trade-offs associated with the reform of mature pension systems in advanced economies.

Reform Options For Mature Defined Benefit Pension Plans The Case Of The Netherlands

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Author : Mr.Marc Gerard
language : en
Publisher: International Monetary Fund
Release Date : 2019-01-25

Reform Options For Mature Defined Benefit Pension Plans The Case Of The Netherlands written by Mr.Marc Gerard 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 2019-01-25 with Business & Economics categories.

The Netherlands has been operating fully funded, defined benefit second pillar pension schemes that have consistently ranked high worldwide for delivering high replacement rates while featuring strong solidarity among members. Yet the long-term sustainability of the Dutch pension funds has been undermined in recent years by protracted low interest rates and unfavorable demographic developments, exacerbating controversies over intergenerational transfer mechanisms within the plans. This has prompted a national debate over ways to move toward more individualization while preserving financial security at retirement for all. This paper draws on this experience, illustrated by stress testing simulations and assessed vis-à-vis solutions implemented in peer countries, to discuss the main policy trade-offs associated with the reform of mature pension systems in advanced economies.

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.

Pensions At A Glance 2021 Oecd And G20 Indicators

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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 2021-12-08

Pensions At A Glance 2021 Oecd And G20 Indicators written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-12-08 with categories.

The 2021 edition of Pensions at a Glance highlights the pension reforms undertaken by OECD countries over the past two years. Moreover, the special chapter focuses on automatic adjustment mechanisms in pensions systems in OECD countries, discusses the usefulness and limitations of these policy instruments, and suggests ways to improve them in order to enhance the capacity of pension systems to fulfil their objectives.

Self Employment And Support For The Dutch Pension Reform

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Author : Ms.Izabela Karpowicz
language : en
Publisher: International Monetary Fund
Release Date : 2019-03-19

Self Employment And Support For The Dutch Pension Reform written by Ms.Izabela Karpowicz 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 2019-03-19 with Business & Economics categories.

The Netherlands’ pension system is characterized by high participation rates, adequate retirement income, strong capitalization and sustainability. Pressure points are arising, however, due to population aging and untransparent intergenerational transfers inherent in the system. Moreover, the Dutch pension system needs to adapt to the changing labor market landscape with an increasing share of workers in self-employment not covered by any pension arrangement. The government has proposed replacing collective defined-benefits schemes with personal accounts, and abolishing uniform premia and constant accrual rates. The micro-data analysis shows that allowing greater risk-taking and freedom of choice in managing pension savings could crowd self-employed into pension schemes.

The Kingdom Of The Netherlands Netherlands

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Author : International Monetary Fund. European Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2019-02-12

The Kingdom Of The Netherlands Netherlands written by International Monetary Fund. European Dept. 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 2019-02-12 with Business & Economics categories.

This Selected Issues papers provide details of the sources and uses of the non-financial corporation saving and highlights the role of multinational corporations (MNCs). The paper also discusses the implications to the external sector assessment and policy recommendations. The large Dutch international investment position reflects its status as an international corporate center. The study shows that large trade surpluses and small primary income balances are consistent with the dominance of MNCs in the Netherlands’ external positions. Separating MNCs’ activities from the Dutch current account for the external sector assessment is expected to help identify underlying policy distortions. Separating MNCs’ activities would help identify imbalances of other economic sectors. The small and medium enterprises are stagnant and remain financially constrained. Small household net saving hides the fact that households are still highly leveraged, and their consumption constrained by a stagnating disposable income. Therefore, improving statistics and separating MNCs’ activities from both internal and external accounts would help identify domestic policy distortions and address imbalances effectively.

Global Pension Challenges

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Author : Patrick J. Ring
language : en
Publisher: Taylor & Francis
Release Date : 2024-03-25

Global Pension Challenges written by Patrick J. Ring and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-03-25 with Business & Economics categories.

National pension systems face a range of tough social and economic demands and pressures. These are complex to navigate, especially in a twenty-first century world that has ushered in global uncertainty and pressing challenges - even threatening the planet’s very sustainability – with implications for pensions that policymakers, financial services providers and individuals themselves must address. This book probes, and unpacks, what pension systems aim to achieve, the uncertainties they face and how they are attempting to resolve them. Analysing pension provision from the systemic, political-economy and individual perspectives, it sets out and contextualises commonalities and differences in pension systems across the globe, looking at current developments in both public and private pension provision, structures and regulation. Moreover, the reader is encouraged to question how national pension systems can best serve their populations and ensure the ‘sustainability’ of later-life incomes in the light of today’s global pension challenges. Global Pension Challenges: Pensions, Saving and Retirement in the Twenty‐First Century is an essential read for business, finance and social-policy academics and students, those working in the pensions industry and in the areas of welfare reform and advocacy, as well as the general public wishing to know more about the retirement issues we will all face in the coming years.

Hybrid Pension Plans

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Author : United States. Congress. Senate. Committee on Health, Education, Labor, and Pensions
language : en
Publisher:
Release Date : 2000

Hybrid Pension Plans written by United States. Congress. Senate. Committee on Health, Education, Labor, and Pensions and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Business & Economics categories.

Switzerland Selected Issues

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Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2021-06-21

Switzerland Selected Issues written by International Monetary 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 2021-06-21 with Business & Economics categories.

Selected Issues

The Challenge Of Public Pension Reform In Advanced And Emerging Economies

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Author : Mr.Benedict J. Clements
language : en
Publisher: International Monetary Fund
Release Date : 2013-01-25

The Challenge Of Public Pension Reform In Advanced And Emerging Economies written by Mr.Benedict J. Clements 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 2013-01-25 with Business & Economics categories.

Pension reform is high on the policy agenda of many advanced and emerging market economies. In advanced economies the challenge is generally to contain future increases in public pension spending as the population ages. In emerging market economies, the challenges are often different. Where pension coverage is extensive, the issues are similar to those in advanced economies. Where pension coverage is low, the key challenge will be to expand coverage in a fiscally sustainable manner. This volume examines the outlook for public pension spending over the coming decades and the options for reform in 52 advanced and emerging market economies.