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Reforming The Greek Pension System
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Book Synopsis Reforming the Greek Pension System by : Mr. Alvar Kangur
Download or read book Reforming the Greek Pension System written by Mr. Alvar Kangur and published by International Monetary Fund. This book was released on 2021-07-16 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Greece by : International Monetary Fund
Download or read book Greece written by International Monetary Fund and published by International Monetary Fund. This book was released on 2002-03-15 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issue paper provides an overview of the public pension system in Greece, and of prospective pension-related spending pressures. The paper reviews the structure of Greece’s pension system and compares some basic parameters of the Greek pension system with those of other European Union economies. It provides an overview of demographic projections for Greece in an international context. The paper also examines the sensitivity of the expenditure projections to variations in demographic and macroeconomic assumptions, including those relating to the rate of productivity growth.
Book Synopsis The Greek Pension Reforms by : Milton Nektarios
Download or read book The Greek Pension Reforms written by Milton Nektarios and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Greece's current pension system relies almost exclusively on the state and remains staunchly pay-as-you-go (PAYG) and defined benefit (DB). This paper offers a radical proposal for change: (i) a new multi-pillar notional and financial defined contribution (NDC and FDC) pension system for all generations first insured after 1993, with contribution rates for primary pensions reduced by 50 percent; and (ii) a transitional system for those first insured before 1993. The proposal's robustness is tested actuarially for the period up to 2060. Though financing the legacy cost would be challenging, the quantitative exercise indicates that a radical pension reform, especially if implemented as a part of an overall recovery package, could set the country on a more favorable growth trajectory.
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.
Book Synopsis Greek Pension Reform Strategy 2010-2015 by : Georgios Symeonidis
Download or read book Greek Pension Reform Strategy 2010-2015 written by Georgios Symeonidis and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Prospects of Greek Pensions Under the Debt, Fiscal and Employment Crisis by : Theodoros Sakellaropoulos
Download or read book The Prospects of Greek Pensions Under the Debt, Fiscal and Employment Crisis written by Theodoros Sakellaropoulos and published by . This book was released on 2014 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: Die deutsche Version dieses Artikels finden Sie unter: 'http://ssrn.com/abstract=2424071' http://ssrn.com/abstract=2424071The present paper analyses the prospects of the Greek pension system in the context of the current debt, fiscal and employment crisis. In understanding the current state of the Greek pension system, the paper starts with a presentation of the major reform initiatives undertaken since the early 1990s, then proceeds by examining the measures taken since the crisis and which have been part of the financial assistance provided by the EU, ECB and the IMF and concludes with a preliminary assessment of the latest reforms and a discussion of the challenges which lie ahead.
Book Synopsis Reforming Pensions by : Nicholas Barr
Download or read book Reforming Pensions written by Nicholas Barr and published by Oxford University Press. This book was released on 2009-11-30 with total page 261 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mandatory pensions are a worldwide phenomenon. However, with fixed contribution rates, monthly benefits, and retirement ages, pension systems are not consistent with three long-run trends: declining mortality, declining fertility, and earlier retirement. Many systems need reform. This book gives an extensive nontechnical explanation of the economics of pension design. The theoretical arguments have three elements: * Pension systems have multiple objectives--consumption smoothing, insurance, poverty relief, and redistribution. Good policy needs to bear them all in mind. * Good analysis should be framed in a second-best context-- simple economic models are a bad guide to policy design in a world with imperfect information and decision-making, incomplete markets and taxation. * Any choice of pension system has risk-sharing and distributional consequences, which the book recognizes explicitly. Barr and Diamond's analysis includes labor markets, capital markets, risk sharing, and gender and family, with comparison of PAYG and funded systems, recognizing that the suitable level of funding differs by country. Alongside the economic principles of good design, policy must also take account of a country's capacity to implement the system. Thus the theoretical analysis is complemented by discussion of implementation, and of experiences, both good and bad, in many countries, with particular attention to Chile and China.
Book Synopsis Study on the Pension Reforms in Greece During the Economic Adjustment Programs by :
Download or read book Study on the Pension Reforms in Greece During the Economic Adjustment Programs written by and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The three Economic Adjustment Programmes (EAPs) implemented in Greece over the period 2010-2018 consisted of providing loans to Greece in light of the financial difficulties it was facing, conditionally on the implementation of policy measures. Pension reforms were a key focus of the programmes from the start, given that the pension system had recently been assessed to be unsustainable, based on actuarial studies and long-term projections of the Greek National Actuarial Authority. This study provides an overview of the main characteristics of the pension system at the start of the programme and depicts the various waves of reforms which have been implemented. It then provides an independent assessment of the impact of those reforms on the pension system (in terms of sustainability, fiscal savings made and efficiency). Finally, it covers the economic implications of the Court rulings and the impact of the reforms on the labour market. The study draws on evidence gathered through a mixed-methods approach, comprising both quantitative and qualitative research techniques.
Book Synopsis The Legality of Public Pension Reforms in Times of Financial Crisis by : Dafni Diliagka
Download or read book The Legality of Public Pension Reforms in Times of Financial Crisis written by Dafni Diliagka and published by Nomos Verlagsgesellschaft. This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first reactions to the Greek financial crisis were pension reforms and reductions. The aim of this book is to assess the legal implications of the reductions to pension benefits, proposing a legal framework in which pensioners are able to raise legal claims in court. The book gives account of the background regarding the factors that necessitated pension reforms prior to and after the fiscal crisis. Furthermore, it describes the Greek pension reforms and reductions which were undertaken progressively by the Greek Parliament from the beginning of the crisis until the year 2012. Finally, it examines the legality of the public pension reforms and reductions in old-age pension benefits with the Greek Constitution and with international law. The assessment is achieved using the principle of proportionality as a balancing concept.
Book Synopsis The Problems and Prospects Faced by Pay-as-you-go Pension Systems by : Paul Mylonas
Download or read book The Problems and Prospects Faced by Pay-as-you-go Pension Systems written by Paul Mylonas and published by . This book was released on 1999 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Pension Reforms written by Heikki Oksanen and published by . This book was released on 2004 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The 2022 Greek Pension Reform by : Nikola Altiparmakov
Download or read book The 2022 Greek Pension Reform written by Nikola Altiparmakov and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Greece by : Fondo Monetario Internacional
Download or read book Greece written by Fondo Monetario Internacional and published by . This book was released on 2002 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Pensions: Challenges and Reforms by : Einar Overbye
Download or read book Pensions: Challenges and Reforms written by Einar Overbye and published by . This book was released on 2017 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Throughout the developed world, public and private pension schemes face major challenges that are creating irresistible pressures for reform. Major structural changes in Latin America and in Central and Eastern Europe have led to particularly fierce pressure. Two member states of the European Union - Italy and Sweden - have introduced radical reform of their public pensions systems; controversial pension reforms have been proposed in France and Germany; and the British government has been widely criticized over its pension reforms and its 2002 white paper. This exceptional volume examines the challenges faced by pension schemes in the advanced economies and the reforms that have been introduced to tackle these challenges. A team of international contributors provides an up-to-date, invaluable analysis of different aspects of pension problems, prospects and reforms. The book incorporates cross-national chapters as well as a focus on individual countries including Belgium, Brazil, Colombia, Finland, Greece, Italy, Sweden, the UK and the USA."--Provided by publisher.
Book Synopsis Reforming the Social Safety Net? by : Linda J. Cook
Download or read book Reforming the Social Safety Net? written by Linda J. Cook and published by . This book was released on 1999 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Pension System Reform written by and published by . This book was released on 2009 with total page 127 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Politics of Pension Reform in Greece in Comparative Perspective by : Polyxeni Triantafillou
Download or read book The Politics of Pension Reform in Greece in Comparative Perspective written by Polyxeni Triantafillou and published by . This book was released on 2005 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt:
