By Hanming Fang (University of Pennsylvania - Department of Economics; National Bureau of Economic Research (NBER)) & Jin Feng (Fudan University - School of Economics) We provide a detailed overview of the current state of the Chinese pension system, as well as its development, its problems and some ideas for future reforms. (more…)
By United States General Accounting Office (GAO) Pursuant to a congressional request, GAO reviewed the status of public pension plan funding, focusing on the basic pension plans of state and local governments. GAO found that: (1) states and localities with underfunded pension plans run the risk of reducing future pension benefits to taxpayers or raising revenues; (2) unfunded liabilities for all state and local pension plans totalled $200 billion in 1992; (3) contributions to pension funds in 1992 fell short of...
By Alexandra Horvathova, Rasmus Kristian Feldthusen & Vibe Ulfbeck (University of Copenhagen) The European Union encourages individuals to save in private and occupational pension funds to complement their state saving-plans. Throughout their lives, employers directly sponsor occupational retirement saving plans, so individual employees may top up their future pensions. While the European Union clearly supports the formation and cross-border participation in these financial vehicles by adopting regulatory framework, the EU has also decided to determine a common investment decision standard...
By Alexandra Horvathova, Rasmus Kristian Feldthusen & Vibe Ulfbeck (University of Copenhagen) The European Union encourages individuals to save in private and occupational pension funds to complement their state saving-plans. Throughout their lives, employers directly sponsor occupational retirement saving plans, so individual employees may top up their future pensions. While the European Union clearly supports the formation and cross-border participation in these financial vehicles by adopting regulatory framework, the EU has also decided to determine a common investment decision standard...
By Bonnie-Jeanne MacDonald (Independent), Richard J. Morrison (Independent), Marvin Avery (Human Resources and Skills Development), Lars Osberg (Dalhousie University) This paper examines the importance of pensions (employment and social security), taxes and government transfers for alternative retirement savings drawdown strategies, based on Canadian evidence. Using as examples single elderly Canadians at the 10th, median and 90th percentiles of the income distribution, we use a lifetime utility framework to evaluate an illustrative set of six popular drawdown strategies. Our longitudinal dynamic...
Por Carlos Borondo, Zen N Jim Nez-Ridruejo Ayuso, Carmen Lorenzo Lago Los procesos migratorios alteran sustancialmente los vinculos existentes entre las cotizaciones y las prestaciones en los sistemas publicos de pensiones. En el caso de Espana la evolucion demografica y del mercado de trabajo se han visto profundamente modificados por la presencia de un intenso flujo de inmigrantes, que han influido de un modo manifiesto sobre el balance y la capacidad del sistema de pensiones publicas de jubilacion, mejorando las...
Por: Jos Ricardo Duarte Ojeda, Carlos Elizalde S Nchez, Mar a Teresa Casparri Los sistemas de pensiones de America Latina han vivido una oleada de reformas sin precedente en la decada de los noventa; el pionero es el caso de Chile, que en 1981 ha migrado del sistema de Reparto (PAYGO) al sistema de capitalizacion individual. Es un contrastante cambio de politica de corte neoliberal que ha privatizado las pensiones de los trabajadores, ocasionando una variedad de resultados. Este libro...
Por Juana Isabel Vera Lopez A nivel mundial, los sistemas de pensiones se encuentran en crisis debido a que sus regimenes y beneficios consideraron una situacion distinta a la actual. Fenomenos como el envejecimiento poblacion, aumento de la esperanza de vida, el aumento del trabajo informal, subempleo, auto empleo, entre otros factores han agravado esta situacion. En Mexico, en 1995 y 2007 se reformaron las legislaciones del IMSS e ISSSTE siguiendo los parametros internacionales. En estas dos decadas transcurridas desde...
By Fabio Bertranou & Luis Casanova (International Labour Organization); Oscar Cetrángolo & Carlos Grushka (University of Buenos Aires) In the last decades, the pension system in Argentina has experienced important changes that included the introduction of an individual account defined-contribution component (or individual capitalisation) in 1994 and its subsequent reversal to a defined benefit pay-as-you-go pension scheme in 2008. After the 2001 crisis, the favourable fiscal position allowed the implementation of policies that reversed the decline in pension coverage to unprecedented...
