Reforming the Public Pension System in the Russian Federation

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1475505515
Total Pages : 25 pages
Book Rating : 4.4/5 (755 download)

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Book Synopsis Reforming the Public Pension System in the Russian Federation by : Frank Eich

Download or read book Reforming the Public Pension System in the Russian Federation written by Frank Eich and published by International Monetary Fund. This book was released on 2012-08-01 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pension reform is a key policy challenge in Russia. This paper examines how pension spending could increase in Russia in the absence of reforms, quantifies the impact of some recent proposals, and suggests some alternatives that would ensure public pension benefits - relative to wages - not fall from current levels while containing spending.

Pension Reform in the Baltics, Russia, and Other Countries of the Former Soviet Union (BRO)

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Author :
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.3/5 ( download)

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Book Synopsis Pension Reform in the Baltics, Russia, and Other Countries of the Former Soviet Union (BRO) by : Marta de Castello Branco

Download or read book Pension Reform in the Baltics, Russia, and Other Countries of the Former Soviet Union (BRO) written by Marta de Castello Branco and published by International Monetary Fund. This book was released on 1998-02 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite their increasing fiscal burden, the public pension systems of BRO countries are failing to provide adequate social protection. Although there is a broad consensus about the need for pension reforms, BRO countries are debating whether to embark on systemic reforms or whether to correct the distortions in their pay-as-you-go (PAYG) pension systems. The paper reviews the measures taken by BRO countries during the transition period to address their pension problems and examines the options for further reform. It makes a strong case for a gradual reform approach aimed at establishing a multi-pillar system over the long run, but initially focused on implementation of “high-quality” reforms of the PAYG system.

Private Pensions Series Reform and Challenges for Private Pensions in Russia

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Author :
Publisher : OECD Publishing
ISBN 13 : 9264013873
Total Pages : 102 pages
Book Rating : 4.2/5 (64 download)

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Book Synopsis Private Pensions Series Reform and Challenges for Private Pensions in Russia by : OECD

Download or read book Private Pensions Series Reform and Challenges for Private Pensions in Russia written by OECD and published by OECD Publishing. This book was released on 2006-03-29 with total page 102 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report provides a critical review of reform initiatives undertaken by the Russian government to overhaul retirement provision in Russia and documents recent evolution occurring in the Russian private pension market.

The Necessity of Pension Reform in the Russian Federation and How Pensioners Feel about Themselves in Russian Province

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Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

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Book Synopsis The Necessity of Pension Reform in the Russian Federation and How Pensioners Feel about Themselves in Russian Province by : Vladimir Gusev

Download or read book The Necessity of Pension Reform in the Russian Federation and How Pensioners Feel about Themselves in Russian Province written by Vladimir Gusev and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The article points out the problems of the RF pension system, as well as pensioners' feeling in rich and depressed regions, and the necessity of effective management of investment funds of the Russian Federation Pension Fund.

Reform and Challenges for Private Pensions in Russia

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Author :
Publisher : OECD Publishing
ISBN 13 :
Total Pages : 108 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Reform and Challenges for Private Pensions in Russia by : Lyudmila Sycheva

Download or read book Reform and Challenges for Private Pensions in Russia written by Lyudmila Sycheva and published by OECD Publishing. This book was released on 2006 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Russian Federation has undergone a major reform of the pension system which has resulted in a shift from a single, publicly managed system to one supplemented by a mandatory, privately managed occupational funded component and voluntary pension arrangements. The reform aimed to tackle a set of problems of demographic, social and economic order inherent to retirement income provision and was viewed as a way to improve old-age security of retirees in Russia by ensuring long-term financial and fiscal stability of the pension system and adequacy of pension benefits. This book examines these reforms and new challenges related to the reforms. Most prominent among the challenges is the need to further strengthen the pension system regulatory capacity and enforcement powers of the authorities in charge of the oversight of private pension institutions

No. 07

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Publisher :
ISBN 13 : 9786610606634
Total Pages : 0 pages
Book Rating : 4.6/5 (66 download)

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Book Synopsis No. 07 by : OECD. Publishing

Download or read book No. 07 written by OECD. Publishing and published by . This book was released on 2006 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reforming retirement systems has become a major challenge for policy makers in Russia and around the world. The Russian Federation has undergone a major systemic reform of its pension system, shifting from a single, publicly managed system to one supplemented by a mandatory, privately managed and occupational-funded component as well as voluntary pension arrangements. The reform tackled a set of demographic, social and economic problems inherent to retirement income provision and was designed to improve the security of retirees by ensuring the long-term financial and fiscal stability of the pe.

Assessing Chile's Pension System: Challenges and Reform Options

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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.

Challenges of the Mandatory Funded Pension System in the Russian Federation

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Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (931 download)

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Book Synopsis Challenges of the Mandatory Funded Pension System in the Russian Federation by : Heinz P. Rudolph

Download or read book Challenges of the Mandatory Funded Pension System in the Russian Federation written by Heinz P. Rudolph and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The overwhelming number of contributors that have been allocated into the default option is one of the main characteristics of the Russian second pillar. This finding confirms that the level of financial literacy for most of the participants is not sufficient to make informed portfolio selections. The authors argue that the current system is perfectly consistent with a solid second pillar, but the authorities should focus their attention in the strategic asset allocation of pension funds. Since in the short and medium term it is unlikely to see improvements in financial literacy of individuals that may overcome the complexity of these decisions, the authorities can play an important role in designing default investment portfolios that can be aligned with expected replacement rates for the contributors. The current investment regulation of the default option induces investment in inefficient portfolios that are unlikely to bring returns above inflation, and probably will result in very low replacement rates for contributors. Further liberalization of the investments of the pension portfolio; improvements in the governance and supervision of the pension system; and greater certainty about the ownership of the funds are necessary steps to complete the pension reform launched in 2002.

The Pension System

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Publisher :
ISBN 13 :
Total Pages : 140 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis The Pension System by :

Download or read book The Pension System written by and published by . This book was released on 2003 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Public Pension Reform in Russia

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Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (212 download)

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Book Synopsis Public Pension Reform in Russia by : Elizabeth A. McKeon

Download or read book Public Pension Reform in Russia written by Elizabeth A. McKeon and published by . This book was released on 1997 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Reforming the Social Safety Net?

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Publisher :
ISBN 13 :
Total Pages : 23 pages
Book Rating : 4.:/5 (43 download)

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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:

The Social Crisis in the Russian Federation

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Publisher : OECD Publishing
ISBN 13 : 926419245X
Total Pages : 148 pages
Book Rating : 4.2/5 (641 download)

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Book Synopsis The Social Crisis in the Russian Federation by : OECD

Download or read book The Social Crisis in the Russian Federation written by OECD and published by OECD Publishing. This book was released on 2001-03-12 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a detailed analysis of the social problems facing the Russian Federation, and develops proposals for continuing reform to improve the economic fundamentals, including the productivity, while at the same time ensuring that social and labour market policies become more effective.

Pension Reform in the Baltics, Russia, and Other Countries of the Former Soviet Union (Bro).

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Author :
Publisher :
ISBN 13 :
Total Pages : 40 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Pension Reform in the Baltics, Russia, and Other Countries of the Former Soviet Union (Bro). by : Marta de Castello Branco

Download or read book Pension Reform in the Baltics, Russia, and Other Countries of the Former Soviet Union (Bro). written by Marta de Castello Branco and published by . This book was released on 2006 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite their increasing fiscal burden, the public pension systems of BRO countries are failing to provide adequate social protection. Although there is a broad consensus about the need for pension reforms, BRO countries are debating whether to embark on systemic reforms or whether to correct the distortions in their pay-as-you-go (PAYG) pension systems. The paper reviews the measures taken by BRO countries during the transition period to address their pension problems and examines the options for further reform. It makes a strong case for a gradual reform approach aimed at establishing a multi-pillar system over the long run, but initially focused on implementation of quot;high-qualityquot; reforms of the PAYG system.

Reforming the Greek Pension System

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Publisher : International Monetary Fund
ISBN 13 : 1513588842
Total Pages : 26 pages
Book Rating : 4.5/5 (135 download)

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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.

Reforming Public Pensions

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Author :
Publisher : Organisation for Economic Co-operation and Development
ISBN 13 :
Total Pages : 354 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Reforming Public Pensions by : Organisation for Economic Co-operation and Development

Download or read book Reforming Public Pensions written by Organisation for Economic Co-operation and Development and published by Organisation for Economic Co-operation and Development. This book was released on 2004-01-23 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pension reform is a key issue on the policy agenda in many countries, given the fiscal, economic and social implications of population ageing. This publication examines the practical lessons of public pension reforms over the past decade in Central and Eastern Europe, and how they compare with reforms in other OECD member countries. Countries covered include the Czech Republic, Poland, Hungary, the Slovak Republic, Slovenia, Latvia, the Russian Federation and Lithuania, as well as Germany, Italy and the Netherlands. Aspects discussed include: problems of poverty in old age; the imbalance between time spent in work and in retirement; the appropriate mix of different forms of retirement income provisions; labour market implications of different approaches to financing pensions; and the potential complexities of meeting short-term and long-term policy objectives.

Macroeconomic Effects of Pension Reform in Russia

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Publisher :
ISBN 13 :
Total Pages : 25 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Macroeconomic Effects of Pension Reform in Russia by : David Hauner

Download or read book Macroeconomic Effects of Pension Reform in Russia written by David Hauner and published by . This book was released on 2010 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: Putting the pension system on a sustainable footing arguably remains the biggest challenge in Russia's economic policies. The debate about the policy options was hitherto constrained by the absence of general equilibrium analysis. This paper fills this gap by simulating their macroeconomic effects in a DSGE model calibrated to Russia's economy - the first of its kind to the best of our knowledge. The results suggest that a minimum benefit level in the public system should optimally be financed through lower government consumption, while higher taxation of labor and capital should be avoided. Reducing public investment spending is superior to increasing consumption taxes unless investment generates high rates of return.

Colombia's Pension Reform

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Author :
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 92 pages
Book Rating : 4.:/5 (318 download)

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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.