Assessing Chile's Pension System: Challenges and Reform Options PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Assessing Chile's Pension System: Challenges and Reform Options PDF full book. Access full book title Assessing Chile's Pension System: Challenges and Reform Options by Samuel Pienknagura. Download full books in PDF and EPUB format.
Author: Samuel Pienknagura
Publisher: International Monetary Fund
ISBN: 151359611X
Category : Business & Economics
Languages : en
Pages : 52
Get Book Here
Book Description
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.
Author: Samuel Pienknagura
Publisher: International Monetary Fund
ISBN: 151359611X
Category : Business & Economics
Languages : en
Pages : 52
Get Book Here
Book Description
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.
Author: OECD
Publisher: OECD Publishing
ISBN: 9264224920
Category :
Languages : en
Pages : 117
Get Book Here
Book Description
OECD's 2015 Economic Survey of Colombia examines recent economic developments, policies and prospects. Special chapters cover taxes and transfers and pensions.
Author: OECD
Publisher: OECD Publishing
ISBN: 926440645X
Category :
Languages : en
Pages : 174
Get Book Here
Book Description
Colombia has made good economic and social progress over the last two decades. Macroeconomic policies are solid and have sustained growth and smooth adjustments to shocks over the years. Maintaining and strengthening the policy framework is key to sustainable macroeconomic policies and setting the basis for higher productivity and inclusiveness. Putting Colombia on a path to stronger and more inclusive growth, and reducing dependence on natural resources, requires boosting productivity by adopting structural reforms in competition, regulations, trade policy, infrastructure, innovation, and skills.
Author: Mr.Benedict J. Clements
Publisher: International Monetary Fund
ISBN: 147556631X
Category : Business & Economics
Languages : en
Pages : 86
Get Book Here
Book Description
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.
Author: OECD
Publisher: OECD Publishing
ISBN: 9264275665
Category :
Languages : en
Pages : 131
Get Book Here
Book Description
Growth has been among the strongest in the region, reflecting the flexible exchange rate and inflation targeting monetary policy, and fiscal rules. The strong growth and welfare programmes to the most vulnerable groups have substantially reduced poverty.
Author: Mr. Alvar Kangur
Publisher: International Monetary Fund
ISBN: 1513588842
Category : Business & Economics
Languages : en
Pages : 26
Get Book Here
Book Description
The Greek pension system has been costly, complex, and distortive, which has contributed to Greece’s fiscal problems and discouraged labor force participation. Several attempts to reform the system faltered due to lack of implementation, pushback by vested interests, and court rulings leading to reversals. A series of reforms introduced throughout 2015–17 unified benefit and contribution rules, removed several distortions and reduced fragmentation and costs. If fully implemented throughout the long-term, these reforms can go a long way towards enhancing the pension system affordability. However, reforms faced setbacks and fell short of creating stronger incentives to build long contribution histories, to deliver sustainable growth by improving the fiscal policy mix, and to ensure fairness and equitable burden sharing across generations and interest groups. Policy priorities should aim towards fully implementing the 2015–17 reforms and complementing them with additional reforms to address these remaining objectives.
Author: Mariano Bosch
Publisher: Inter-American Development Bank
ISBN: 1597821780
Category : Business & Economics
Languages : en
Pages : 248
Get Book Here
Book Description
The Latin America and Caribbean (LAC) region has reduced its inequality and poverty, and is looking towards the future with greater optimism than in the past. As the region grows, new problems appear that economic policymakers must address. How to provide adequate pensions for the elderly is one such problem. This book offers an analysis of pension systems from the perspective of the functioning of the regions labor markets. It clarifies why, more than half a century after pension systems were created, only a minority of workers in the region save for their pension in the contributory systems through payroll taxes. The study points out that the problem lies not only in the lack of coverage, but also in the low level of benefits, even of contributory pensions. It argues that to design public policies for pensions, it is essential to understand the complex web of interactions between employers and workers that take place in the labor market.
Author: Perry, S. Marshall
Publisher: IGI Global
ISBN: 1522536175
Category : Social Science
Languages : en
Pages : 349
Get Book Here
Book Description
Making research in all fields of study readily available is imperative in order to circulate new information and upcoming trends. This is possible through the efficient utilization of collections of information. Maximizing Social Science Research Through Publicly Accessible Data Sets is an essential reference source for the latest academic perspectives on a wide range of methodologies and large data sets with the purpose of enhancing research in the areas of human society and social relationships. Featuring coverage on a broad range of topics such as student achievement, teacher efficacy, and instructional leadership, this book is ideally designed for academicians, researchers, and practitioners seeking material on the availability and distribution methods of research content.
Author: OECD
Publisher: OECD Publishing
ISBN: 9264876103
Category :
Languages : en
Pages : 224
Get Book Here
Book Description
The 2019 edition of Pensions at a Glance highlights the pension reforms undertaken by OECD countries over the last two years. Moreover, two special chapters focus on non-standard work and pensions in OECD countries, take stock of different approaches to organising pensions for non-standard workers in the OECD, discuss why non-standard work raises pension issues and suggest how pension settings could be improved.
Author: Martin Feldstein
Publisher: University of Chicago Press
ISBN: 0226241823
Category : Political Science
Languages : en
Pages : 484
Get Book Here
Book Description
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
