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Reforming The Pension System To Increase Coverage And Equity In Colombia
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Book Synopsis OECD Economic Surveys: Colombia 2015 by : OECD
Download or read book OECD Economic Surveys: Colombia 2015 written by OECD and published by OECD Publishing. This book was released on 2015-01-19 with total page 117 pages. Available in PDF, EPUB and Kindle. Book excerpt: OECD's 2015 Economic Survey of Colombia examines recent economic developments, policies and prospects. Special chapters cover taxes and transfers and pensions.
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.
Book Synopsis OECD Economic Surveys: Colombia 2019 by : OECD
Download or read book OECD Economic Surveys: Colombia 2019 written by OECD and published by OECD Publishing. This book was released on 2019-12-21 with total page 174 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis OECD Economic Surveys: Colombia 2017 by : OECD
Download or read book OECD Economic Surveys: Colombia 2017 written by OECD and published by OECD Publishing. This book was released on 2017-05-25 with total page 131 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis The Challenge of Public Pension Reform in Advanced and Emerging Economies by : Mr.Benedict J. Clements
Download or read book The Challenge of Public Pension Reform in Advanced and Emerging Economies written by Mr.Benedict J. Clements and published by International Monetary Fund. This book was released on 2013-01-25 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
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 Maximizing Social Science Research Through Publicly Accessible Data Sets by : Perry, S. Marshall
Download or read book Maximizing Social Science Research Through Publicly Accessible Data Sets written by Perry, S. Marshall and published by IGI Global. This book was released on 2017-10-31 with total page 349 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Colombia by : International Monetary
Download or read book Colombia written by International Monetary and published by International Monetary Fund. This book was released on 2023-03-23 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt: Benefiting from an effective policy response to the pandemic and highly favorable terms of trade, Colombia’s economy grew at one of the fastest rates among emerging economies in 2022. This demand-led recovery, however, contributed to internal and external imbalances, for which policy tightening has been now underway. A new administration took office in August 2022, with social equity and climate at the center of its ambitious reform agenda.
Book Synopsis Privatizing Social Security by : Martin Feldstein
Download or read book Privatizing Social Security written by Martin Feldstein and published by University of Chicago Press. This book was released on 2008-04-15 with total page 484 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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
Author :International Monetary Fund. Western Hemisphere Dept. Publisher :International Monetary Fund ISBN 13 :1498395147 Total Pages :73 pages Book Rating :4.4/5 (983 download)
Book Synopsis Colombia by : International Monetary Fund. Western Hemisphere Dept.
Download or read book Colombia written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2014-05-28 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt: KEY ISSUES Context. Colombia’s economic performance has been robust, underpinned by a very strong policy framework. Last year, real GDP grew by 4.3 percent, with low inflation. The country has a strong external position; the financial system is sound; and fiscal policy remains guided by a structural fiscal balance rule. The authorities intend to undertake an ambitious infrastructure program to be executed through public-private partnerships. Outlook and risks. Real GDP growth is projected to converge to potential (about 41⁄2 percent) in 2014, with inflation remaining within the 2–4 percent target range. The medium-term outlook is favorable, but risks are tilted to the downside. Colombia’s important and growing ties with the global economy expose the economy to external risks. The most important sources of risk are a decline in oil prices, a deterioration in global financial conditions, and volatility from the normalization of monetary policy in the U.S. Near-term policy mix. The current policy mix is broadly adequate. As the ongoing economic recovery takes hold, monetary and fiscal policies are expected to shift to a more neutral stance. Colombia continues to rely on a flexible exchange rate to absorb external shocks. The authorities are also taking advantage of abundant foreign inflows, primarily foreign direct investment, to strengthen their international reserve buffer. Medium-term challenges. Colombia’s key challenge is to sustain strong and inclusive growth with macroeconomic stability. To this purpose, it will be important to: (i) adhere to the fiscal consolidation plan, supporting it with revenue mobilization; (ii) address the infrastructure gap, without increasing fiscal risks; (iii) enhance the social security system by increasing coverage and improving equity, and containing health care costs; (iv) address remaining weaknesses in financial sector supervision; and (v) foster financial inclusion.
Book Synopsis Colombia's Pension Reform by : Klaus Schmidt-Hebbel
Download or read book Colombia's Pension Reform written by Klaus Schmidt-Hebbel and published by World Bank Publications. This book was released on 1995 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt: IFC Lessons of Experience No. 1F. This report reviews the experience of the International Finance Corporation (IFC) in its role as advisor and investor in privatization transactions during the past decade. In pursuit of its mandate to further economic development by encouraging the growth of productive private enterprise in developing countries, the IFC has naturally and increasingly been involved in supporting this movement. The premise of the report is that privatization will always be partly based on political considerations, including expected redistribution of wealth and the resulting winners and losers. It discusses the IFC's experience from two perspectives: as an advisor involved before the sale, which illustrates how the IFC assists in the trade-off between political and economic goals to conclude a deal; and after privatization, which discusses the resulting economic benefits. The IFC asserts that its role in privatization is defined by the evolving frontiers of political commitment. Within those frontiers, it can help expand privatization possibilities by performing advisory assignments, providing necessary investments, and developing capital market institutions. The IFC demonstrates that privatization strategies can assume many forms with few set prescriptions. Other language editions: English (ISBN 0-8213-3447-6) Stock No. 13447 Russian -out of print-(ISBN 0-8213-3545-6) Stock No. 13545 Spanish -out of print-(ISBN 0-8213-3451-4) Stock No. 13451.
Book Synopsis Pensions at a Glance 2019 OECD and G20 Indicators by : OECD
Download or read book Pensions at a Glance 2019 OECD and G20 Indicators written by OECD and published by OECD Publishing. This book was released on 2019-11-27 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Keeping the Promise of Social Security in Latin America by : Indermit S. Gill
Download or read book Keeping the Promise of Social Security in Latin America written by Indermit S. Gill and published by World Bank Publications. This book was released on 2004-10-25 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: Empirical analysis of two decades of pioneering pension and social security reform in Latin America and the Caribbean shows that much has been achieved, but that critical challenges remain. In tackling this unfinished agenda, a great deal can be learned from the reform experience of countries in the region. 'Keeping the Promise,' produced by the chief economist's office for the Latin America and Caribbean region at the World Bank, evaluates policy reforms in 12 countries, points to successes and shortcomings, and proposes priorities and options for future reform.
Book Synopsis Old-age Income Support in the 21st Century by : Robert Holzmann
Download or read book Old-age Income Support in the 21st Century written by Robert Holzmann and published by World Bank Publications. This book was released on 2005-01-01 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt: The past decade has brought an increasing recognition to the importance of pension systems to the economic stability of nations and the security of their aging populations. This report attempts to explain current policy thinking and update the World Bank's perspective on pension reform. This book incorporates lessons learned from recent Bank experiences and research that have significantly increased knowledge and insight regarding how best to proceed in the future. The book has a comprehensive introduction and two main parts. Part I presents the conceptual underpinnings for the Bank's thinking on pension systems and reforms, including structure of Bank lending in this area. Part II highlights key design and implementation issues where it signals areas of confidence and areas for further research and experience, and includes a section on regional reform experiences, including Latin American and Europe and Central Asia.
Book Synopsis Pension Reform and the Development of Pension Systems by : Emily S. Andrews
Download or read book Pension Reform and the Development of Pension Systems written by Emily S. Andrews and published by World Bank Publications. This book was released on 2006 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Formal pension systems are an important means of reducing poverty among the aged. In recent years, however, pension reform has become a pressing matter, as demographic aging, poor administration, early retirement, and unaffordable benefits have strained pension balances and overall public finances. Pension systems have become a source of macroeconomic instability, a constraint to economic growth, and an ineffective and/or inequitable provider of retirement income."
Book Synopsis Pensions in the Middle East and North Africa by : Edward Whitehouse
Download or read book Pensions in the Middle East and North Africa written by Edward Whitehouse and published by World Bank Publications. This book was released on 2005-01-01 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the first comprehensive assessment of pension systems in the Middle East and North Africa. While other regionsCentral Asia, Eastern Europe, and Latin America, in particularhave been actively introducing reforms to their pension systems, Middle East and North African countries have lagged behind. This is explained, in part, by the common belief that, because demographics remain favorablethe countries are young and the labor force is expanding rapidlyfinancial problems are far in the future; as a result, pension reform does not have to be a priority in the broader policy agenda.However, the authors show that aging is not the only factor behind a financial crisis; the problem is the generosity of the current schemes. Moreover, badly designed benefit formulas and eligibility conditions introduce unnecessary economic distortions and make the systems vulnerable to adverse distributional transfers. The book does not present a general model that could solve the problems of all pension systems in Middle East and North Africa countries. Instead the authors focus on outlining a framework for guiding discussions on pension reform and making objective policy choices.This assessment will be useful for policy makers and government officials involved in pension reform in the Middle East and North Africa region.
Book Synopsis OECD Economic Surveys: Colombia 2024 by : OECD
Download or read book OECD Economic Surveys: Colombia 2024 written by OECD and published by OECD Publishing. This book was released on 2024-09-17 with total page 134 pages. Available in PDF, EPUB and Kindle. Book excerpt: After a robust recovery from the COVID-19 crisis, Colombia's economic growth is returning to a low potential. Medium-term growth prospects depend on maintaining Colombia's strong macroeconomic framework and enacting reforms to create a business-friendly environment which can attract high levels of investment. Implementing fiscal consolidation and adhering to fiscal rules would prevent rising financing costs and safeguard debt sustainability. Reforms to raise tax revenues and improve spending efficiency are needed to create fiscal space for social and productive investment needs. Enhancing the investment climate requires reducing regulatory uncertainties and tackling corruption. Creating connected transport infrastructure, strengthening subnational government capacities and improving equalisation mechanisms in the fiscal transfer system would foster balanced development across the country. Addressing informality, gender gaps, and improving education quality would boost productivity and reduce social disparities. Investing in climate adaptation, renewable energy, and establishing stable regulatory frameworks are key for a climate-resilient economy and achieving carbon neutrality by 2050. SPECIAL FEATURES: RAISING PRODUCTIVITY; REDUCING LABOUR INFORMALITY; REGIONAL CONVERGENCE
