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February 2021

My word is my bond: Linking sovereign debt with national sustainability commitments

By Anderson Caputo Silva, Fiona Stewart The global COVID-19 pandemic has caused millions of deaths and the greatest global economic downturn in nearly a century. Public debt increased by $8.5 trillion in 2020, up to September, including by $1.4 trillion in emerging markets. At the same time, unprecedented levels of investment will be needed to fund COVID-19 stimulus and relief packages, as well as to address the challenges posed by climate change and the degradation of ecosystems that regulate the...

Opportunities for extending social security coverage in Jordan

By ILO The report aims to support Jordanian policymakers in the extension of social security to informal workers. It formulates typologies for informal workers outside the social security system, analyses the main constraints to coverage and outlines a range of policy approaches for the extension of coverage. The Jordanian government has been working to expand social security coverage of its workforce. In the context of the National Social Protection Strategy, the Cabinet has committed to developing an action plan to reduce...

January 2021

Digital finance and inclusion in the time of COVID-19

By Niclas Benni The COVID-19 pandemic has resulted in severe and protracted disruptions to the livelihoods of people all around the world, both in developing and developed countries. The pervasive effects of this pandemic, which have ended up affecting every aspect of our societies, keep unfolding as the crisis progresses, leaving profound marks on people’s livelihoods and countries’ economies that are expected to last for many years after the pandemic has ended. As part of the global response to...

Pension Reform Primer : Issues, Challenges, Options and Arguments in Pension Reform

By World Bank The World Bank Pension Reform Primer aims to provide a comprehensive toolkit for policy makers on designing and implementing pension reform. It is based on continuously updated information from countries that have introduced reforms emphasizing the role of privately-managed individual retirement accounts. Their experience offers a number of useful lessons for policy makers elsewhere. The Bank set out a conceptual framework for fundamental pension reform in "Averting the Old Age Crisis: Policies to Protect the Old...

Investing in People : Social Protection for Indonesia’s 2045 Vision

By Holmemo, Camilla Acosta, Pablo, George, Tina Palacios, Robert J. Pinxten, Juul Sen, Shonali, Tiwari, Sailesh The Government of Indonesia's Vision for 2045 sets an ambitious path that will require significant investments in human capital and social protection Indonesia continues to set ambitious goals for its growth and development. The Government of Indonesia's (GoI) vision for 2045—when the country celebrates 100 years of independence—is to achieve high income status and reduce poverty to nearly zero. In addition to sustained...

Another Brick on the Wall: On the Effects of Non-Contributory Pensions on Material and Subjective Well Being

By Rosangela Bando, Sebastian Galiani, Paul J. Gertler Public expenditures on non-contributory pensions are equivalent to at least 1 percent of GDP in several countries in Latin America and is expected to increase. We explore the effect of non-contributory pensions on the well-being of the beneficiary population by studying the Pensiones Alimentarias program established by law in Paraguay, which targets older adults living in poverty. Households with a beneficiary increased their level of consumption by 44 percent. The program...

China Pensions Outlook

By KPMG Welcome to KPMG’s fourth annual report tracking developments in China’s pension industry. China’s ageing demographics and the consequent challenges continued to draw attention during 2019 and triggered a number of fundamental changes. This report updates and builds on our research in China’s pension industry. In the report, we analyse why Pillar One will continue to be the most important and fastest- developing sector of the pension system in China. We also offer our view on what supporting...

Pensions Imperilled: The Political Economy of Private Pensions Provision in the UK

By Craig Berry Private pensions provision in the UK is in crisis, yet it is not the crisis often depicted in political and popular discourses. While population ageing has affected traditional pensions practice, the imperilment of UK pensions is due in fact to the peculiar way policy-makers have responded to wider social and economic change. Pensions are a mechanism for managing failed futures, yet this function is being impeded by the individualization of provision. This book offers a political economy...

January 2021

Disability pensions and social security reform : analysis of the Latin American experience

By Grushka, Carlos O. & Demarco, Gustavo This paper describes the disability pension arrangements prevailing in ten Latin American countries that reformed their pension systems. The analysis is limited to the topic of disability pensions, without attempting to evaluate other critical aspects such as the available infrastructure: handicapped access generally (ramps, blind cues), medical and nursing support, home care, and so on. The relative significance of disability pensions is highly dependant on these factors and, however, they are really limited...

Privatizing Social Security

By Martin Feldstein 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...