A Sustainable State Pension

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A sustainable state pension

Author : Great Britain: Department for Work and Pensions
Publisher : The Stationery Office
ISBN 13 : 9780101795623
Total Pages : 82 pages
Book Rating : 4.7/5 (956 download)

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Book Synopsis A sustainable state pension by : Great Britain: Department for Work and Pensions

Download or read book A sustainable state pension written by Great Britain: Department for Work and Pensions and published by The Stationery Office. This book was released on 2010-11-03 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper outlines the Government's new plans for the timing of the increase in state pension age to 66. The Pensions Act 2007 legislated for the state pension age to increase for both men and women to 66 by 2026, to 67 by 2036, and to 68 by 2046. But subsequent gains in average life expectancy have outpaced the projections on which that timetable was based. Official projections for life expectancy for those reaching 65 in 2026 have increased by 1.5 years for men and 1.6 years for women. The cost implications for maintaining the state pension are serious. The increased life expectancy means that, just for those reaching state pension age this year, the costs would increase by £6.5 billion over the lifetime of that cohort. Women's state pension age is currently rising from 60 to be equalised with men's at 65 by 2020. To enable an increase to 66, this timetable will be adjusted so that equalisation is reached in November 2018. The increase to 66 will then occur between December 2018 and April 2020 for both men and women. The increase will be phased in at a rate of three months' increase in state pension age every four months. This means that 4.9 million people will have their state pension age revised, of which 4.4 million will have an increase of a year or less. It will result in £30.4 billion of savings between 2016/17 and 2025/26, which would otherwise have to be met by the working-age population.

Economic Challenges of Pension Systems

Author : Marta Peris-Ortiz
Publisher : Springer Nature
ISBN 13 : 3030379124
Total Pages : 487 pages
Book Rating : 4.0/5 (33 download)

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Book Synopsis Economic Challenges of Pension Systems by : Marta Peris-Ortiz

Download or read book Economic Challenges of Pension Systems written by Marta Peris-Ortiz and published by Springer Nature. This book was released on 2020-03-20 with total page 487 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the major economic challenges associated with the sustainability of public pensions, specifically demographic change, labor-market relations, and risk sharing. The issue of public pensions occupies the political and economic agendas of many major governments in the world. International organizations such as the World Bank and the OECD warn that the economic changes driven by an aging society negatively affects the sustainability of pension systems. This book analyzes different global public pension systems to offer policies, methods and tools for sustainable public pensions. Real case studies from France, Sweden, Latin America, Algeria, USA and Mexico are featured.

Financial Sustainability of Pension Systems

Author : Stefania Amalia Jimon
Publisher : Springer Nature
ISBN 13 : 303074454X
Total Pages : 250 pages
Book Rating : 4.0/5 (37 download)

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Book Synopsis Financial Sustainability of Pension Systems by : Stefania Amalia Jimon

Download or read book Financial Sustainability of Pension Systems written by Stefania Amalia Jimon and published by Springer Nature. This book was released on 2021-05-31 with total page 250 pages. Available in PDF, EPUB and Kindle. Book excerpt: The sustainability of public pension systems has become an important aspect for governments and institutions worldwide. This book addresses the multiple elements that influence the sustainability of pension systems with a special focus on central and eastern European countries. Supported by the results of econometric empirical studies, the authors discuss and analyse areas like social economy versus capitalist economy, globalization versus glocalization, population aging versus birth and fertility, emigration versus immigration, early retirement versus prolongation versus professional activity, the sustainability of public pension systems versus the adequacy of benefits provided, public pension systems compared to private pension funds and taxation of salary incomes versus subsidization of state social insurance.

Equitable and Sustainable Pensions

Author : Mr.Benedict J. Clements
Publisher : International Monetary Fund
ISBN 13 : 1484395093
Total Pages : 432 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Equitable and Sustainable Pensions by : Mr.Benedict J. Clements

Download or read book Equitable and Sustainable Pensions written by Mr.Benedict J. Clements and published by International Monetary Fund. This book was released on 2014-03-08 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pension reform is high on the agenda of many advanced and emerging market economies, for many reasons. First, public pensions often constitute a large share of government expenditure. Second, population aging means that reforms would be needed just to keep pension spending from rising in the future. Third, in many economies, low or falling pension coverage will leave large segments of the population without adequate income in old age and at risk of falling into poverty. Although a number of studies have assessed the effects of pension reforms on fiscal sustainability, a systematic analysis of equity issues in pension systems—and how countries have grappled with these issues—has yet to be undertaken. This book brings together the latest research on equity issues related to pension systems and pension reforms in the post-crisis world. Some of the key issues covered include: the effect of pension systems on intergenerational equity and the impact of pension reforms on poverty, the effects of pension reform measures on fiscal sustainability and equity, and the fiscal consequences of achieving different equity goals. It also presents country case studies. The volume provides a rich menu of material to assist policymakers and academic audiences seeking to understand the latest research in this area, as well as the lessons and challenges for the design of reforms.

Sustainability of Pension Systems in the New EU Member States and Croatia

Author : Leszek Kasek
Publisher : World Bank Publications
ISBN 13 : 0821373706
Total Pages : 50 pages
Book Rating : 4.8/5 (213 download)

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Book Synopsis Sustainability of Pension Systems in the New EU Member States and Croatia by : Leszek Kasek

Download or read book Sustainability of Pension Systems in the New EU Member States and Croatia written by Leszek Kasek and published by World Bank Publications. This book was released on 2008-02-01 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study finds that pension reforms in recent years have improved the efficiency and sustainability of pension systems in the new member states of the European Union and Croatia. However, for many countries, these probably have not gone far enough to ensure long-term sustainability, given the aging of the population. Reforms have included changes to Pay-As-You-Go (PAYG) systems, including increases in retirement ages (not at least for women), new benefit formulas, and new indexation mechanism. Some countries (Latvia and Poland) have further strengthened the link of contributions and benefits to the sustainability of the PAYG system through the introduction of national defined contribution accounts. The link is strengthened also by moving to a point system, which has been adopted by many of the countries. Several countries have introduced a second, private, pension pillar, funded through diversion of part of the pension contributions, thereby diversifying risk. However, some countries (in particular the Czech Republic, Slovenia, and Romania) will need to do more to safeguard the long-term viability of their pension systems, while others face challenges to ensure equitable pension systems and adequate living standards for all elderly people.

Sustainability of State and Local Government Pension Plans

Author : Natt B. Price
Publisher : Nova Science Publishers
ISBN 13 : 9781629481296
Total Pages : 0 pages
Book Rating : 4.4/5 (812 download)

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Book Synopsis Sustainability of State and Local Government Pension Plans by : Natt B. Price

Download or read book Sustainability of State and Local Government Pension Plans written by Natt B. Price and published by Nova Science Publishers. This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over 27 million employees and beneficiaries are covered by state and local government pension plans. However, the recent economic downturn and associated budget challenges confronting state and local governments pose some questions as to the sustainability of these plans, and what changes, if any, state and local governments are making to strengthen the financial condition of their pension plans. The Government Accountability Office (GAO) was asked to examine recent trends in the financial condition of state and local government pension plans; and strategies state and local governments are using to manage pension costs and the impacts of these strategies on plans, sponsors, employees, and retirees. This book analyses sector-wide financial conditions based on national-level data on pension funding from the U.S. Census Bureau and others, and reviews information on recent state legislative changes affecting government pensions from annual reports prepared by the National Conference of State Legislatures (NCSL).

Sustainability of the State Pension

Author : Alex Boni
Publisher : GRIN Verlag
ISBN 13 : 3640851579
Total Pages : 32 pages
Book Rating : 4.6/5 (48 download)

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Book Synopsis Sustainability of the State Pension by : Alex Boni

Download or read book Sustainability of the State Pension written by Alex Boni and published by GRIN Verlag. This book was released on 2011-03-07 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essay from the year 2011 in the subject Economics - Case Scenarios, University of Exeter (Business School), course: Economics of Social Policy, language: English, abstract: It is important to recognise the complexity of the pensions system in the UK before tackling the topic. Whilst the state pension has been around in one form or another since 1908, gradual reforms to keep it applicable to modern times have been few and far between. The greatest shake-up of the pension system since its creation came into effect on April 6 2006 – known as A-Day by industry professionals, in the form of a document entitled Pension Simplification. Prior to this, there were no less than thirty-two separate rulebooks governing how pensions had to be invested and managed in the UK. Bizarrely, A-Day did not shelve these rulebooks and many of them still contain important legislation that affects pensions in the UK. Industry professionals to whom I have spoken during the course of researching this essay agree that pensions are still one of, if not the most complex areas of British personal finance that can confuse even the most seasoned of veteran investors. For this reason, I have dealt with pensions in the UK in a level of depth that is technical, but not needlessly confusing. The important factors have been mentioned and explained, though I freely admit there is a great deal more out there that anybody would struggle to cover within the confines of a book, let alone an essay! Hopefully, the arguments conveyed and discussed from hereon in are of sufficient detail to make an informed judgement upon the sustainability of the British pension system.

Sustainability of the State Pension

Author : Alex Boni
Publisher : GRIN Verlag
ISBN 13 : 3640851633
Total Pages : 61 pages
Book Rating : 4.6/5 (48 download)

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Book Synopsis Sustainability of the State Pension by : Alex Boni

Download or read book Sustainability of the State Pension written by Alex Boni and published by GRIN Verlag. This book was released on 2011-03 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essay from the year 2011 in the subject Economics - Case Scenarios, University of Exeter (Business School), course: Economics of Social Policy, language: English, abstract: It is important to recognise the complexity of the pensions system in the UK before tackling the topic. Whilst the state pension has been around in one form or another since 1908, gradual reforms to keep it applicable to modern times have been few and far between. The greatest shake-up of the pension system since its creation came into effect on April 6 2006 - known as A-Day by industry professionals, in the form of a document entitled Pension Simplification. Prior to this, there were no less than thirty-two separate rulebooks governing how pensions had to be invested and managed in the UK. Bizarrely, A-Day did not shelve these rulebooks and many of them still contain important legislation that affects pensions in the UK. Industry professionals to whom I have spoken during the course of researching this essay agree that pensions are still one of, if not the most complex areas of British personal finance that can confuse even the most seasoned of veteran investors. For this reason, I have dealt with pensions in the UK in a level of depth that is technical, but not needlessly confusing. The important factors have been mentioned and explained, though I freely admit there is a great deal more out there that anybody would struggle to cover within the confines of a book, let alone an essay! Hopefully, the arguments conveyed and discussed from hereon in are of sufficient detail to make an informed judgement upon the sustainability of the British pension system.

A state pension for the 21st century

Author : Great Britain: Department for Work and Pensions
Publisher : The Stationery Office
ISBN 13 : 9780101805322
Total Pages : 60 pages
Book Rating : 4.8/5 (53 download)

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Book Synopsis A state pension for the 21st century by : Great Britain: Department for Work and Pensions

Download or read book A state pension for the 21st century written by Great Britain: Department for Work and Pensions and published by The Stationery Office. This book was released on 2011-04-04 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this document the Government is looking at options for delivering a simpler and fairer state pension which rewards those who save for their retirement and is sustainable for future generations. The consultation is on two broad options for reform of the state pension, and the most appropriate mechanism for determining future changes to state pension age. The four guiding principles for pension reform are: personal responsibility; fairness; simplicity; affordability and sustainability. The options for reform of the state pension are: (1) faster flat rate or (2) a single tier pension. Currently the basic state pension is a flat-rate payment of £97.65 a week and the state second pension is partly flat rate and partly linked to earnings, such that higher earners receive a higher state pension. Option 1 would accelerate reforms so that the state second pension becomes fully flat rate by 2020 instead of the early 2030s. At the end of the transition those with a full contribution record - about 30 years - would receive the full pension, in two tiers, currently estimated at about £140 a week. Option 2 is a more radical approach, combining the two existing pensions into one single-tier pension. Future pensioners with at least 30 qualifying years would receive the same flat-rate pension currently estimated at £140 a week. This payment would be set above the basic level of support provided by Pension Credit. There are also two options for changing state pension age: through a formula linked to life expectancy; through a regular review.

The Sustainability of the Swiss Pension System's First Pillar

Author : Morgan Staub
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (11 download)

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Book Synopsis The Sustainability of the Swiss Pension System's First Pillar by : Morgan Staub

Download or read book The Sustainability of the Swiss Pension System's First Pillar written by Morgan Staub and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Due to changing demographics, Switzerland is facing serious issues in regard to the sustainability of the first pillar of its pension system. This state pension plan is organized as a pay-as-you-go system, meaning that the contributions from the working population today fund the benefits paid to the retired population today. Due to an ageing population, these contributions no longer cover the state pension plan's ongoing expenses and, more importantly, this problem is going to aggravate even more. The objective of this paper is twofold; first it will analyze the current state of the system and show why it is no longer sustainable. In a second phase changes will be proposed to the system in order to render the state pension plan viable again. To do so, a model is created to assess the sustainability of the system until the year 2060. Finally, a small section is dedicated to discuss Switzerland's political environment as, ultimately, all changes to the system must be voted on favorably by its population.

Pension Sustainability in China

Author : Randong Yuan
Publisher : Taylor & Francis
ISBN 13 : 1000483444
Total Pages : 141 pages
Book Rating : 4.0/5 (4 download)

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Book Synopsis Pension Sustainability in China by : Randong Yuan

Download or read book Pension Sustainability in China written by Randong Yuan and published by Taylor & Francis. This book was released on 2021-11-29 with total page 141 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pension Sustainability in China: Fragmented Administration and Population Aging aims to investigate the impact of fragmentation and population ageing on pension sustainability in China. The book demonstrates how pension sustainability is compromised by various adverse effects produced by fragmentation, such as the moral hazard caused by the disarticulated intergovernmental fiscal responsibility. An overlapping generations (OLG) model is updated with the latest demographic data and is used to assess the impact of population ageing on pension sustainability. The book considers whether adjustment in retirement age can ensure long-term financial sustainability. It explores how, compared to the population ageing, the issues stemming from the fragmentation pose a more insidious threat to pension sustainability in China.

A Comparison of the Pension Systems of Greece, Austria and Sweden

Author : Amelie Többen
Publisher : GRIN Verlag
ISBN 13 : 3656957010
Total Pages : 19 pages
Book Rating : 4.6/5 (569 download)

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Book Synopsis A Comparison of the Pension Systems of Greece, Austria and Sweden by : Amelie Többen

Download or read book A Comparison of the Pension Systems of Greece, Austria and Sweden written by Amelie Többen and published by GRIN Verlag. This book was released on 2015-05-07 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essay from the year 2014 in the subject Politics - Region: Western Europe, grade: 2,0, University of Lisbon, language: English, abstract: The European social model is challenged by decreasing fertility rates, higher life expectancies and the recent financial crisis. As member states are committed to provide sustainable and adequate pensions, they constantly have to review the sustainability of their systems and implement reforms to cope with the population ageing without destabilizing public finances. For our analysis, we choose the three countries Austria, Greece and Sweden. Our aim was to analyze a variety of different pension systems, not only different in their pension structure but also in their recent sustainability. Consulting the “2014 Pension Sustainability Index” suggests Sweden as a highly sustainable system with minor need for reforms. Austria in the mid-table has a quite sustainable pension system but needs to implement reforms to keep sustainable in the future. Greece made huge improvements in its sustainability due to the recent reforms implemented with the Troika but still remains in the lower field. In our opinion, these three countries give a diversified overview of the European social model.

State and Local Government Pension Plans

Author : Government Accountability Office
Publisher : CreateSpace
ISBN 13 : 9781492228493
Total Pages : 54 pages
Book Rating : 4.2/5 (284 download)

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Book Synopsis State and Local Government Pension Plans by : Government Accountability Office

Download or read book State and Local Government Pension Plans written by Government Accountability Office and published by CreateSpace. This book was released on 2013-08-28 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: There are over 3,400 state and local pension systems in the United States, according to the most recent Census Bureau Survey of State and Local Public-Employee Retirement Systems. Most large plans are state plans, and more state and local employees are covered by state-administered plans than by locally-administered plans (about 24 million members and beneficiaries compared with about 3 million). However, there are more local government employees than state government employees (about 14 million compared with about 5 million), and while local governments sometimes participate in plans administered by states, the local governments generally retain responsibility for contributing the employer's share of funding to the plans for their employees. As a result, local governments contribute more to pension plans each state fiscal year, overall, than do state governments.

State and Local Government Pension Plans

Author : U.s. Government Accountability Office
Publisher : Createspace Independent Publishing Platform
ISBN 13 : 9781974229697
Total Pages : 54 pages
Book Rating : 4.2/5 (296 download)

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Book Synopsis State and Local Government Pension Plans by : U.s. Government Accountability Office

Download or read book State and Local Government Pension Plans written by U.s. Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2017-08-04 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: " Over 27 million employees and beneficiaries are covered by state and local government pension plans. However, the recent economic downturn and associated budget challenges confronting state and local governments pose some questions as to the sustainability of these plans, and what changes, if any, state and local governments are making to strengthen the financial condition of their pension plans. GAO was asked to examine (1) recent trends in the financial condition of state and local government pension plans and (2) strategies state and local governments are using to manage pension costs and the impacts of these strategies on plans, sponsors, employees, and retirees. To address these topics, GAO analyzed various measures of sector-wide financial condition based on national-level data on pension funding from the U.S. Census Bureau and others, and reviewed information on recent state legislative changes affecting government pensions from annual reports prepared by the National Conference of State Legislatures (NCSL). GAO did not assess the soundness of individual plans, but did obtain documents and conduct interviews with pension and budget officials in eight states and eight localities, selected to illustrate the range of strategies being implemented to meet current and future pension funding requirement. The Internal Revenue Service and"

German Pension Reform

Author : Christina Benita Wilke
Publisher : Peter Lang
ISBN 13 : 9783631588512
Total Pages : 216 pages
Book Rating : 4.5/5 (885 download)

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Book Synopsis German Pension Reform by : Christina Benita Wilke

Download or read book German Pension Reform written by Christina Benita Wilke and published by Peter Lang. This book was released on 2009 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: The German pension system was the first formal pension system in the world, designed by Bismarck nearly 120 years ago. It has been very successful in providing high and reliable pension levels at reasonable contribution rates. While the generosity of the German pension system is considered a great social achievement, negative incentive effects of past reforms in the 1970s and 1980s and population aging are threatening the very core of the system. This has led to fundamental pension reforms since 1992. Based on a detailed simulation model of the German pension system, this book provides a thorough assessment of the system and its reforms. It shows that the latest reforms have put the system back onto a stable path and moved it from the old monolithic towards a multi-pillar system.

Assessing Chile's Pension System: Challenges and Reform Options

Author : Samuel Pienknagura
Publisher : International Monetary Fund
ISBN 13 : 151359611X
Total Pages : 52 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis Assessing Chile's Pension System: Challenges and Reform Options by : Samuel Pienknagura

Download or read book Assessing Chile's Pension System: Challenges and Reform Options written by Samuel Pienknagura and published by International Monetary Fund. This book was released on 2021-09-10 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Handbook of Research on Entrepreneurship Development and Opportunities in Circular Economy

Author : Baporikar, Neeta
Publisher : IGI Global
ISBN 13 : 1799851176
Total Pages : 696 pages
Book Rating : 4.7/5 (998 download)

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Book Synopsis Handbook of Research on Entrepreneurship Development and Opportunities in Circular Economy by : Baporikar, Neeta

Download or read book Handbook of Research on Entrepreneurship Development and Opportunities in Circular Economy written by Baporikar, Neeta and published by IGI Global. This book was released on 2020-06-26 with total page 696 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the need for sustainability, a focus on developing an economic system that aims at minimizing waste, commonly referred to as the circular economy, is emerging. Circular economy and studies related to it have gained worldwide attention, as it seems to be an effective alternative economic system. Naturally, the circular economy will impact enterprises and will shift how entrepreneurship development and entrepreneurial opportunities are perceived, developed, and resourced. The Handbook of Research on Entrepreneurship Development and Opportunities in Circular Economy is a collection of pioneering research that advances the understanding of entrepreneurship development, identifies the opportunities, and manages the entrepreneurship development, policies, and programs in order to further a circular economy. In addition to entrepreneurship development and entrepreneurial opportunities, the book will cover and discuss a number of other factors necessary for a successful transformation, such as entrepreneurship and innovation, entrepreneurship and change, and entrepreneurship education. While highlighting topics including consumer consumption, knowledge management, and linear economics, this book is ideally designed for entrepreneurs, small business owners, managers, consultants, organization development specialists, policymakers, researchers, industry experts, academicians, and students.