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The Swiss Multi Pillar Pension System
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Book Synopsis The Swiss Multi-pillar Pension System by : Monika Queisser
Download or read book The Swiss Multi-pillar Pension System written by Monika Queisser and published by . This book was released on 2000 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt: Switzerland is the first country to have publicly articulated the benefits of a multi-pillar approach to pensions and the first OECD country to have mandated that employers provide occupational pension plans for their employees. Not surprising, the Swiss system has many unique and attractive features.
Book Synopsis The Swiss Multi-Pillar Pension System by : Monika Queisser
Download or read book The Swiss Multi-Pillar Pension System written by Monika Queisser and published by . This book was released on 2016 with total page 91 pages. Available in PDF, EPUB and Kindle. Book excerpt: Switzerland is the first ...
Book Synopsis The Swiss Multi-Pillar Pension System by : Queisser
Download or read book The Swiss Multi-Pillar Pension System written by Queisser and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Future of Multi-Pillar Pensions by : Lans Bovenberg
Download or read book The Future of Multi-Pillar Pensions written by Lans Bovenberg and published by Cambridge University Press. This book was released on 2012-06-21 with total page 435 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pension systems are under serious pressure worldwide. This pressure stems not only from the well-known trend of population aging, but also from those of increasing heterogeneity of the population and increasing labour mobility. The current economic crisis has aggravated these problems, thereby exposing the vulnerability of many pension schemes to macroeconomic shocks. This book reconsiders the multi-pillar pension scheme against the background of these pressures. It adopts an integral perspective and asks how the pension system as a whole contributes to the three basic functions of pension schemes: facilitating life-cycle financial planning, insuring idiosyncratic risks and sharing macroeconomic risks across generations. It focuses on the optimal balance between the various pension pillars and on the optimal design of each of the schemes. It sketches a number of economic trade-offs, showing that countries may opt for different pension schemes depending on how they react to these trade-offs.
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.
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 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.
Book Synopsis Private Pensions Versus Social Inclusion? by : Barbara Riedmüller
Download or read book Private Pensions Versus Social Inclusion? written by Barbara Riedmüller and published by Edward Elgar Publishing. This book was released on 2008-01-01 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: Assesses the extent to which six European multi-pillar pension regimes are socially inclusive, by micro-simulating retirement income for hypothetical citizens facing typical post-industrial risks. This book identifies the political and institutional conditions under which private pensions are reconcilable with social inclusion.
Book Synopsis Annuities in Switzerland by : Monika Butler
Download or read book Annuities in Switzerland written by Monika Butler and published by . This book was released on 2016 with total page 110 pages. Available in PDF, EPUB and Kindle. Book excerpt: Switzerland's pension system has attracted considerable attention, mainly due to its reliance on a three-pillar structure. A relatively small pay-as-you-go system (first pillar) is complemented by a mandatory, employer-based, fully funded occupational pension scheme (second pillar). The main goal of this paper is to provide a detailed description and analysis of the Swiss pension system. Particular emphasis is placed on the second pillar and its role in the provision of old age benefits within the Swiss social security system. The paper shows, for example, that a typical individual with an uninterrupted career can expect a net (after-tax) replacement rate of at least 70 percent. Occupational pension plans are highly regulated. Minimum interest rate requirements and minimum conversion rates (at which the accumulated retirement balances are transformed into annuity streams) introduce many elements of defined benefit plans into notionally defined contribution schemes. The resulting money's worth ratios are very high (with the exception of single males). Switzerland also has a high annuitization rate by international standards (approximately 80 percent). However, due to high fragmentation of the scheme and non-uniform accounting practices, some aspects of the system are not very transparent. The paper sheds light on the financial health of the pension system and theevolution of the regulatory framework in the past two decades.
Book Synopsis Multi-pillar pension systems: investing in the future by :
Download or read book Multi-pillar pension systems: investing in the future written by and published by . This book was released on 2016 with total page 404 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Asset Allocation and Performance Analysis Within the Second Pillar of the Swiss Pension System by :
Download or read book Asset Allocation and Performance Analysis Within the Second Pillar of the Swiss Pension System written by and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis investigates the relationship between asset allocation, investment performance and management expenses of occupational pension funds in Switzerland. In Switzerland, as in many other developed countries, pension systems face different challenges such as an aging society, increased life expectancy, demographic changes and the unavailability of consistent risk free investments. For this reasons reforms and regulatory changes are needed in order to provide financial stability to the beneficiaries. This thesis attempts to find additional ways of lowering the pressure on the system on top of the "Retirement Reform 2020" by looking at efficiency gains through structural reforms, increased returns due to an improved asset allocation and reduced costs due to a more strict and transparent cost control. To look for the factors significantly influencing the pension system detailed data are analysed using multivariate OLS-, FE- and RE-regressions. The results support the wide-spread hypothesis that economies of scale play an important role within the second pillar. While larger funds with respect to the asset under management achieve higher returns and show lower administration costs, they have to deal with significantly higher asset management costs as a percentage of total assets. Furthermore, the results indicate that asset allocation decisions have a considerable effect on the performance of the funds. More risky assets and investments abroad in the portfolio lead on average to higher returns. Whereas investments in bonds and mortgages in the home currency slightly reduce them. A higher share of private equity markedly increases the costs of the asset management. The results of the empirical analysis show that differences towards the types of institutions do occur. Actions aiming at reducing the discrepancies between the funds are welcome and a consolidation within the occupational pension sector would help all beneficiaries.
Book Synopsis Analysis of Wealth Redistribution in the Second Pillar of the Swiss Pension System by : Philipp Kobler
Download or read book Analysis of Wealth Redistribution in the Second Pillar of the Swiss Pension System written by Philipp Kobler and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The thesis at hand aims to analyse and quantify the predicted intergenerational redistribution in the occupational benefit plan in the context of the expected demographic change and prognosticated economic development. In a first step, the analysis focuses on the elaboration of the relevant theoretical basic knowledge and the discussion of studies computing the size of redistribution. In a second step, an EXCEL-based calculation tool is developed in order to quantify the size of intergenerational redistribution for different demographic and pension reform scenarios. Both, the analysis of existing studies and the computed redistribution results unambiguously indicate a growing financial burden on young generations and therefore a violation of the principle of intergenerational fairness. Even under favourable demographic and economic conditions, intergenerational redistribution will increase significantly, which is demonstrated by means of a sensitivity analysis. The design of the calculation tool further allows the simulation of the effects of an increase in the retirement age on the one hand, as well as of the effects of a reduction of the statutory minimum conversion rate on the other hand. The results of the simulations clearly demonstrate the suitability and long-term effectiveness of these two measures in order to mitigate the problem of intergenerational redistribution.
Book Synopsis The Future of Multi-Pillar Pensions by : Lans Bovenberg
Download or read book The Future of Multi-Pillar Pensions written by Lans Bovenberg and published by Cambridge University Press. This book was released on 2012-06-21 with total page 435 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pension systems are under serious pressure worldwide. This pressure stems not only from the well-known trend of population aging, but also from those of increasing heterogeneity of the population and increasing labour mobility. The current economic crisis has aggravated these problems, thereby exposing the vulnerability of many pension schemes to macroeconomic shocks. This book reconsiders the multi-pillar pension scheme against the background of these pressures. It adopts an integral perspective and asks how the pension system as a whole contributes to the three basic functions of pension schemes: facilitating life-cycle financial planning, insuring idiosyncratic risks and sharing macroeconomic risks across generations. It focuses on the optimal balance between the various pension pillars and on the optimal design of each of the schemes. It sketches a number of economic trade-offs, showing that countries may opt for different pension schemes depending on how they react to these trade-offs.
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 Achieving Investment Excellence by : Kees Koedijk
Download or read book Achieving Investment Excellence written by Kees Koedijk and published by John Wiley & Sons. This book was released on 2019-04-08 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: Crucial methods, tactics and tools for successful pension fund management Achieving Investment Excellence offers trustees and asset managers a comprehensive handbook for improving the quality of their investments. With a stated goal of substantially and sustainably improving annual returns, this book clarifies and demystifies important concepts surrounding trustee duties and responsibilities, investment strategies, analysis, evaluation and much more. Low interest rates are making the high cost of future pension payouts fraught with tension, even as the time and knowledge required to manage these funds appropriately increases — it is no wonder that pensions are increasingly seen as a financial liability. Now more than ever, it is critical that trustees understand exactly what contributes to investment success — and what detracts from it. This book details the roles, the tools and the strategies that make pension funds pay off. Understand the role of pension funds and the fiduciary duty of trustees Learn the tools and kills you need to build profound and lasting investment excellence Analyse, diagnose and improve investment quality of funds using concrete tools and instruments Study illustrative examples that demonstrate critical implementation and execution advice Packed with expert insight, crucial tools and real-life examples, this book is an important resource for those tasked with governing these. Achieving Investment Excellence provides the expert insight, clear guidance and key wisdom you need to manage these funds successfully.
Book Synopsis Switzerland in Europe by : Christine Trampusch
Download or read book Switzerland in Europe written by Christine Trampusch and published by Taylor & Francis. This book was released on 2011-03-14 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book provides the first systematic overview of Swiss political economy in comparative perspective. It provides an analysis of major socio-economic institutions, economic actors, economic and social policies, and political institutions and their recent changes.
Book Synopsis Swiss Public Administration by : Andreas Ladner
Download or read book Swiss Public Administration written by Andreas Ladner and published by Springer. This book was released on 2018-08-07 with total page 397 pages. Available in PDF, EPUB and Kindle. Book excerpt: Swiss citizens approve of their government and the way democracy is practiced; they trust the authorities and are satisfied with the range of services Swiss governments provide. This is quite unusual when compared to other countries. This open access book provides insight into the organization and the functioning of the Swiss state. It claims that, beyond politics, institutions and public administration, there are other factors which make a country successful. The authors argue that Switzerland is an interesting case, from a theoretical, scientific and a more practice-oriented perspective. While confronted with the same challenges as other countries, Switzerland offers different solutions, some of which work astonishingly well.
