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Journal articles on the topic 'Pension reform'
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1
Price, Debora. "The pensions White Paper: taking account of gender." Benefits: A Journal of Poverty and Social Justice 15, no. 1 (February 2007): 45–57. http://dx.doi.org/10.51952/lbqa9574.
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Many women face severe obstacles in accumulating adequate income in later life. The pensions White Paper heralds substantive reform of the pension system, with certain elements assisting women in future to build pension entitlements. The extent to which the reforms will have the desired effect is, however, unclear since the system remains complex and means-tested benefits will remain a substantial element of pensioner income for many in the population. The government has committed to a gender impact assessment of the reforms. This article explores the elements of the pension system that should be evaluated if this assessment is to take full account of gender.
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Gurvich, E. "Roadmap for the New Pension Reform." Voprosy Ekonomiki, no. 4 (April 20, 2011): 4–31. http://dx.doi.org/10.32609/0042-8736-2011-4-4-31.
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The paper suggests measures aimed at raising efficiency and long-term sustainability of the pension system. Pension contribution rate, amount of budget transfer to the pension system, and total size of pension benefits in percent of GDP are found to exceed substantially levels typical for the OECD countries and emerging markets. Our major " bottleneck" is very low by international standards support ratio (i.e. number of contributors to pension fund per pensioner). Increase in the retirement age by 2 years for men and 5 years for women would bring life expectancy at retirement in Russia to the level typical for emerging markets. Provisional gain of the budget from this measure is estimated to vary from 1.4 to 2.3% of GDP. The objective of higher retirement age should be not budget gains but stabilization of replacement rate under forthcoming demographic crisis. Other measures suggested include in particular restoring basic pensions, fixing own sources of funds for each of the pension system tiers, and building barriers for running pension imbalances, and fostering late retirement for working aged.
3
Bridgen, Paul, and Traute Meyer. "Fair Cuts? The Impact of British Public Service Pension Reform on Workers in the Main Occupations." Social Policy and Society 12, no. 1 (October 22, 2012): 105–22. http://dx.doi.org/10.1017/s1474746412000541.
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Public service pensions have been a fundamental component of the British pension system in the post-war period and recent reform initiatives have caused political controversy. This article assesses the impact of the Conservative/Liberal government's public sector pension reform plans of 2011 for different public sector workers. It simulates their projected pension outcomes, assuming people contribute to the new system throughout their working lives. In particular, we examine the government's claim that the move away from final to average salary schemes will make pensions fairer for women and lower paid workers. The article shows that the reforms are indeed fair, if measured by the government's standards: retirement is delayed for all, but the lowest skilled and women lose least and some even gain higher pensions without paying proportionately more. Despite austerity, recent British pension reforms reflect a greater awareness of social inequality than many would expect and they have been built on more cross-party agreement than apparent at first sight.
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Mesa-Lago, Carmelo, and Eva Maria Hohnerlein. "Testing the Assumptions concerning the Effects of the German Pension Reform Based on Latin American and Eastern European Outcomes." European Journal of Social Security 4, no. 4 (December 2002): 285–330. http://dx.doi.org/10.1177/138826270200400402.
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The pension reform, approved in Germany in 2001, and implemented on January 1, 2002, has been described by the Federal Minister of Labour and Social Affairs, Walter Riester, as ‘one of the greatest social reforms this country has seen’ (Federal Ministry, 2002a) and it has prompted considerable discussion and publications. This article analyses key assumptions on the effects of the German reform in the light of two decades of experience with structural pension reforms (‘privatisation’) in Latin America. This region has pioneered this type of reform and has influenced both the international debate and changes in other regions such as Eastern Europe. The article has four objectives: (1) to elaborate a taxonomy of old-age structural pension reforms in the world and place Germany's within it; (2) to identify and analyse crucial assumptions related to the effects of the German reform (incentives for affiliation, competition and administrative costs, impact on the level of pensions, sustainability of the public pension contribution ceiling, and effects on national saving, fiscal costs, the capital market and investment returns); (3) to contrast those German assumptions that are similar to their counterparts in Latin America with data collected on real outcomes from the pension reforms in several countries of that region and, to a lesser extent, from a few Eastern European countries (the two regions combined embrace more than 80 million insured persons in private pensions); and (4) to summarise our findings and draw some useful lessons. Economic, social security and other differences between Germany and the countries compared will be taken into account in the analysis.
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Шрам, Валерий, and Valeriy Shram. "PENSION INSURANCE REFORM IN CROATIA AT THE PRESENT STAGE." Journal of Foreign Legislation and Comparative Law 1, no. 4 (October 29, 2015): 0. http://dx.doi.org/10.12737/14270.
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The article analyzes the pension insurance reform in Croatia, which marked the beginning of a three-level pension system formation. The first level includes old-age pensions, disability pension and survivors pension as part of the compulsory pension insurance system. The second level includes pensions on the basis of the compulsory pension insurance with a saving element. The third level is based on the voluntary pension insurance system. The author reveals the conditions for granting non-contributory pensions, non-contributory pensions with a saving element as well as conditions for granting funded pensions. The article analyses the new formula for calculation of non-contributory (funded) pensions, which was initially introduced as part of the Pension Insurance Law in 1998. The article displays fundamental changes in the pension insurance system, which led to the formation of compulsory pension funds and non-governmental pension funds. Special attention is paid to the formation in compulsory pension funds of capitalized savings of the insured parties as part of the compulsory pension insurance and to the procedures for payment of funded pensions with a saving element. The article reveals the reasons for adopting in 2013 and 2014 of pension laws, the implementation of which will determine the improvement of the pension insurance system in Croatia. The article reviews the conditions for the formation of compulsory and voluntary pension funds. Special attention is paid to the participation of the insured parties aged up to 40 years in compulsory pension funds, which are divided into three categories depending on the extent of risk management during investing of the insured parties’ savings. Besides general scientific methods (analysis and synthesis), the author also applied in the article private law research techniques, in particular, formal logical, theoretical, comprehensive legal, historical and comparative law methods. Scientific novelty of the work is in its integrative and comprehensive approach to the analysis of the Croatian pension system development, which is formed on the basis of a three-level system of pension insurance. The analysis of the pension insurance norms and law enforcement practice in the modern period is of great scientific and practical importance. The research findings should contribute to the development of proposals on the creation in the Russian Federation of a pension system, which is adequate to the country’s modern social-economic development and which complies with the international and legal standards of social security and foreign states’ experience.
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Gedeon, P. "Pension reform in Hungary." Acta Oeconomica 51, no. 2 (July 1, 2001): 201–38. http://dx.doi.org/10.1556/aoecon.51.2000-2001.2.3.
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Reforms are not created simply by will, they are constrained by path dependency and also by existing economic and political structures. The course of reforms is also dependent on the formulation of reform alternatives and the balance of power among decisive actors. Both the postponement and then the introduction of the pension reform in Hungary can be explained by the economic and political constraints of the reform, by how reform alternatives were formulated, and by the role of the different actors in the reform process. The structure of this paper reflects these considerations. First, I summarize the characteristics of the socialist pension system that partly created path dependency in the process of pension reform. Second, I look at the economics of pension reform, by discussing the economic constraints of the reforms, and presenting the economic aspects of reform arguments and economic policies modifying and changing the pension system. Third, I examine the politics of the pension reform, and describe the political process of bargaining that generated reform outcomes. Finally, I deal with the role of the World Bank that was the most important international actor in the Hungarian pension reform process.
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Broadbent, Simon, Justin van de Ven, and Martin Weale. "Commentary: Pensions and Pension Policy." National Institute Economic Review 193 (July 2005): 4–10. http://dx.doi.org/10.1177/0027950105058544.
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The Pensions Commission is to make its recommendations on pension policy reform later this year, in the light of comments on the challenges identified in its first Report. Widespread agreement on the need for such reform is partly a consequence of problems which have already surfaced, such as the insolvency of some pension schemes, moves to curtail benefits and mis-selling scandals. However the main impetus comes from the fact, clearly demonstrated by the Pensions Commission (2004), that for pensioners to enjoy the current relative standard of living in fifty years time will require people either to (i) retire later (ii) save more; or (iii) pay higher taxes. In the Commission's view the key issues are to find a consensus on the appropriate combination of these three, or of the alternative of lower pensioner incomes, and to find ways of bringing about such an outcome. We focus on aspects of such a reform and suggest one measure which could be implemented without further ado.
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DÍAZ-GIMÉNEZ, JAVIER, and JULIÁN DÍAZ-SAAVEDRA. "The future of Spanish pensions." Journal of Pension Economics and Finance 16, no. 2 (June 6, 2016): 233–65. http://dx.doi.org/10.1017/s1474747216000093.
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AbstractWe use an overlapping generations model economy with endogenous retirement to study the 2011 and 2013 reforms of the Spanish public pension system. These reforms delay the legal retirement ages, increase the contributivity of the system, and adopt a sustainability factor and a pension revualuation index that effectively transform the Spanish pension system into a defined-contribution pension system. We find that these reforms improve the sustainability of Spanish pensions substantially, and that they limit the tax increases that would have been necessary to finance the pension system deficits. But these results are achieved at the expense of large reductions in the real value of the average pension. This reduction is progressive and, by 2050, the average pension is approximately 30% smaller in real terms than what it would have been under the pension system rules that prevailed in 2010. We also show that these reforms are costly in welfare terms and that households born between 1950 and 1970, young disabled workers who are alive at the time of the reform, and future cohorts bear the highest welfare costs. The substantial reduction of pensions and the high welfare costs that these reforms bring about lead us to conjecture that further reforms lurk in the future of Spanish pensions.
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Collard, Sharon. "Workplace Pension Reform: Lessons from Pension Reform in Australia and New Zealand." Social Policy and Society 12, no. 1 (September 25, 2012): 123–34. http://dx.doi.org/10.1017/s1474746412000474.
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The UK Government's workplace pension reforms introduce major changes to the way in which employees save for retirement. Eligible employees will be automatically enrolled into a workplace-based pension scheme and, for the first time in the UK, employers will be legally required to contribute to employees’ pensions. This article critically examines the evidence from New Zealand and Australia, two countries that have undergone pension reforms similar in some ways to the UK reforms. We assess what we can learn from their experiences in two areas: firstly, how pension schemes are structured and, secondly, the outcomes for individuals. The evidence highlights the potential of automatic enrolment to overcome people's disinterest in pension saving. At the same time, relatively few UK employees are likely to choose where their pension savings are invested. As a result, default funds will play an important role in determining the pension outcomes for individuals.
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Grech, Aaron. "What Makes Pension Reforms Sustainable?" Sustainability 10, no. 8 (August 15, 2018): 2891. http://dx.doi.org/10.3390/su10082891.
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Policymakers pushing pension reforms have tended to justify changes on the basis that they would make systems more sustainable by lowering future spending on pensions. This is a rather narrow interpretation of sustainability that fails to consider that other fiscal programs may need to accommodate the impact of reforms that reduce pension system adequacy. In this light, this article argues that in order to correctly assess the sustainability of pension reforms, one needs to adopt a more holistic framework that encapsulates the interaction between pension system goals and constraints. In a number of countries, reforms focused solely on reducing future spending were followed by reforms that restored generosity. A holistic approach to assess pension sustainability could help limit this cycle of reform and increase trust in pension systems.
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Poznyakova, O., N. Panchuk, and O. Burtseva. "Analysis of Reforming the Pension System of Ukraine: Implementation Problems and Development Prospects." Economic Herald of the Donbas, no. 4 (62) (2020): 155–60. http://dx.doi.org/10.12958/1817-3772-2020-4(62)-155-160.
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Pension provision is an element of the pension system that ensures sustainable socio-economic development of the state as a whole. The article discusses the current problems of the pension system in Ukraine, ways to overcome and directions for its improvement. Determination of the further development and reform of the pension system aimed at ensuring the financial stability of the solidarity system. Introduction of the development of the pension system, taking into account the peculiarities of the current situation in the country, ways of reforming social insurance. The compulsory accumulative pension system is considered. Its introduction to retirees for two centuries. The advantages of the funded system, what it is based on, and its main contingent of citizens are analyzed. Principles of pension accrual, pension entitlements, old-age pensions, pension transfer, minimum and maximum pension in the course of reforms. Analyzed, introduced by introducing amendments to some legislative acts of Ukraine regarding the increase in pensions. The demographic state of the population is considered. The article proves that the main strategic directions for improving the pension reform is the introduction of changes in the demography of the population; percentage of ERUs, when calculated for each entrepreneur separately (respectively, from the group of an individual entrepreneur to the type of activity); open your deposit account for the savings system in the public domain; to enable pensioners to work (to improve their knowledge with practitioners, to provide an opportunity to work with modern equipment, programs) to determine the dates for the introduction of the second level and the age category of participants; to establish and improve the work of the organization of pension provision; to show confidence in the reforms of the Pension Fund bodies to the population. Nowadays, constant monitoring of the achievement of the strategic goals of the reform of the pension system and pension provision and the adoption of fundamental decisions to overcome strategic gaps is quite an urgent issue and requires further research.
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Mamatkazin, I. R. "Structural-Functional Analysis of a Pension as an Object of Pension Legal Relations." Siberian Law Review 18, no. 2 (October 20, 2021): 138–50. http://dx.doi.org/10.19073/2658-7602-2021-18-2-138-150.
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The pension system of the Russian Federation has undergone three fundamental reforms. In 1992, the first law on pensions began to operate in Russia, which significantly differed from the Union legislation. In 2002, insurance principles were introduced into the pension system, which led to a change in the entire system of pension coverage for persons working under an employment contract, including new types of pension coverage. In 2015, there was a significant reform of the existing insurance pension system, which in its significance is no less significant than all the previous changes in the pension legislation. Each pension reform changed the procedure for calculating pensions, legislatively establishing a new pension formula for determining the amount of a pension. Along with this, the structural elements of pensions also changed. At the same time, it is possible to identify similar features in the structural elements of pensions assigned in different periods, but at the functional level. The totality of similar functions of pension elements allows us to talk about certain patterns in the development of the pension provision of the Russian Federation. So, despite the change in the nature of pensions from state to insurance, the essence of pensions, in general, remained the same. Moreover, the essence and functions of the elements of state and insurance pensions are largely the same. The pension is a social security payment with a complex structure. The presence of a structure, the presence of elements and connections between them, indicates a complex function performed by a pension. This function cannot be reduced to a compensatory function, a function of assistance or a function of substitution of earnings. There is an element in the pension structure that reflects past employment. In pensions of different nature, this happens in different ways: wages are taken into account (in state pensions) or insurance contributions (in compulsory pension insurance pensions). In addition, the pension should include an element that increases the amount of the pension in the presence of special circumstances of a subjective nature: disabled dependents, the need for constant outside care. In pensions for state pension provision, such an element is supplements to pensions; in compulsory pension insurance, this function is performed by a fixed payment. Social pensions and funded pension are one-component payments, which raises questions not only about the nature of these pensions, but also about their essence.
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Pashkova, Galina G. "Professional pensions in Russia: problems and prospects." Vestnik Tomskogo gosudarstvennogo universiteta. Pravo, no. 44 (2022): 147–58. http://dx.doi.org/10.17223/22253513/44/13.
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The article substantiates the need to reform the pension system of the Russian Federation. According to the author, the most effective way to reduce the financial burden on the Pension Fund of the Russian Federation is to reform the institution of early (preferential) pensions, because the scale of providing preferential pensions in Russia is unparalleled in world practice. The article examines the history of concessional pension provision in Russia and the stages of reforming the pension system in sufficient detail. The author examines the measures that were planned in the 1995 Concept of Reform for the introduction of a three-tiered pension system, which would have included as one of its components a non-state (supplementary) pension in the form of professional pension systems of individual organizations, industries, territories, as well as personal pension savings in non-state pension funds or insurance companies. Then the article examines the Programme of pension reform of 1998, draft federal laws "On the Fundamentals of Pension Reform in the Russian Federation", "On compulsory professional pension systems in the Russian Federation", in which quite reasonable measures to change the institution of early pensions were proposed. The author notes with regret that the above draft laws did not receive further consideration and were withdrawn from consideration because the main issue concerning the financing of occupational pensions remained unresolved. The article discusses the main directions of the Strategy for Long-Term Development of the Pension System (until 2030), one of which is also reforming the institute of early pensions. Summarizing the results of the study, the author draws a disappointing conclusion that over the past 30 years the idea of introducing occupational pensions has not yet found real implementation, and the existing institution of concessional pensions now covers an even wider range of persons than it did in the Soviet period. The author fears that the introduction of an occupational pension system may not materialise in the next few years, given the current economic crisis, labour market problems and a difficult demographic situation. Nevertheless, the author hopes that the next phase of pension reform announced by the Russian Government will lead to real progress in introducing the occupational pension system in Russia as well. There is no doubt that the need to resolve this problem is long overdue, and effective measures should be taken as soon as possible. All the more so because the regulations already adopted over the years, which were discussed in this study, provide quite adequate and feasible measures for reforming the Russian pension system. The author declares no conflicts of interests.
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Semenova, Galina. "The need for pension reform in Russia." E3S Web of Conferences 210 (2020): 13029. http://dx.doi.org/10.1051/e3sconf/202021013029.
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The relevance of the paper is caused by the fact that the current pension system did not satisfy either citizens, since their pensions were extremely miserable, neither employers due to the high level of contributions to the Pension Fund of the Russian Federation, nor the government, since the low level of pensions caused social and, as a consequence, political tension, nor the subjects of the Russian Federation, since the unfunded pension system obliged the regions to deduct funds from their own funds to cover pension obligations to subsidized regions. The way out of this situation is the creation of a new pension reform, which will increase the size of the pension by increasing the income of the pension system itself. The main goal of the pension reform is to increase the welfare of Russian citizens after they retire. The subject of the study is a new pension reform, the stimulus of which was to become a transition from an unfunded to a defined contribution pension system. The aim of the study is to identify the main economic reasons for creating a new pension reform. Methodology. To study the new pension reform, the main indicators are systematized: the minimum length of service for assigning an insurance pension, the amount of pension points for the period from 2015 to 2024 and subsequent years, and pension calculation formulas. Results. According to the new pension reform, the employee is encouraged to show full salary for employers to pay insurance contributions. The conditions are created to remove real wages from the “shadow”. The unfunded pension system caused social instability, caused a conflict of generations, workers and employers, destabilized the authorities. The new pension reform is designed to provide conditions for mutual assistance of generations and social partnership. The unfunded pension system led to the fact that pension payments were a heavy burden on the economy. The new pension system, at the expense of the funded part of the insurance contribution, creates an investment resource of “long money” (with a demand period of 25-30 years). Thus, the pension system not only serves elderly citizens, but also really works to develop the domestic economy.
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Wiß, Tobias. "Divergent occupational pensions in Bismarckian countries: the case of Germany and Austria." Transfer: European Review of Labour and Research 24, no. 1 (February 2018): 91–107. http://dx.doi.org/10.1177/1024258917748258.
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Pension reforms and the changing public/private pension mix of the last decades are well documented. However, a more detailed look at the design of occupational pensions reveals remarkable differences even in countries that are usually treated as similar in the literature. Germany and Austria share many similarities and are having to cope with similar reform pressure. However, the design of occupational pensions varies substantially. Why? In Germany, trade unions are regularly involved in occupational pension schemes and benefits are calculated on the basis of defined contributions (DC), but with minimum return guarantees preventing losses in times of financial turmoil. By contrast, trade unions rarely participate in Austrian occupational schemes. In Austria, pure DC schemes without guarantees resulted in heavy occupational pension cuts during the recent financial market crises. Following the method of difference, the article explains this difference by trade union structure, unions’ strategic thinking and (lacking) reform threats supported by employers.
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O'Farrell, Brendan. "Public policy and pensions – Pension reform vs. pension adequacy." Pensions: An International Journal 5, no. 3 (May 2000): 191–92. http://dx.doi.org/10.1057/palgrave.pm.5940120.
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Lain, David, Sarah Vickerstaff, and Wendy Loretto. "Reforming State Pension Provision in ‘Liberal’ Anglo-Saxon Countries: Re-Commodification, Cost-Containment or Recalibration?" Social Policy and Society 12, no. 1 (September 28, 2012): 77–90. http://dx.doi.org/10.1017/s1474746412000450.
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There are good theoretical reasons for expecting pension reform in Anglo-Saxon countries to follow similar paths. Esping-Andersen (1990) famously identified these countries as belonging to the same ‘Liberal’ model of welfare, under which benefits, including pensions, are said to be residual and weakly ‘de-commodifying’, reducing individuals’ reliance on the market to a much lesser degree than elsewhere. Pierson (2001) has furthermore argued that because of path dependency welfare states are likely to follow established paths when dealing with ‘permanent austerity’. Following this logic, Aysan and Beaujot (2009) argue that pension reform in liberal countries has resulted in increasing re-commodification. In this paper, we review pension reforms in the UK, USA, Canada and New Zealand in the 2000s. We argue that because, in reality, the pension systems differed significantly at the point of reform, the paths followed varied considerably in terms of whether they focused on ‘re-commodification’, ‘cost-containment’ or ‘recalibration’.
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Idowu, Kareem O., and Kareem F. Olanike. "Pensions and pension reform in Nigeria." Pensions: An International Journal 15, no. 1 (February 2010): 11–24. http://dx.doi.org/10.1057/pm.2009.31.
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CARRERA, LEANDRO N., and MARINA ANGELAKI. "The Diversity and Causality of Pension Reform Pathways: A Fuzzy-set Qualitative Comparative Analysis." Journal of Social Policy 49, no. 3 (November 4, 2019): 582–600. http://dx.doi.org/10.1017/s0047279419000679.
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AbstractPension reform is one of the top public policy priorities in advanced industrialized countries due to population ageing and the significant weight of pension spending in governments’ budgets. As a result of these concerns European countries have engaged in varying degrees of pension reforms over the last three decades. The extant literature on pension reform focuses on structural, institutional and blame avoidance theories to explain how pension reform take place. Yet, how do different conditions combine to lead to significant pension reform outcomes? To answer this question we analyze a set of 48 pension reform cases in eight European countries since the late 1980s up until 2014 by using fuzzy set qualitative comparative analysis (fsQCA). Our main finding is that institutional, structural or blame avoidance theories cannot account by themselves for instances of significant pension reform. Rather, we find three pathways that combine structural and institutional conditions to lead to significant pension reform.
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Diakovych, Lina. "Problematic aspects of the regulatory and legislative framework for calculating pensions in Ukraine." Herald of Ternopil National Economic University, no. 2(92) (March 3, 2019): 71–80. http://dx.doi.org/10.35774/visnyk2019.02.071.
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Introduction. In order to further move towards the European Economic Area, Ukraine needs to take pension reform measures. Pension provision in Ukraine has to be profoundly reformed in terms of regulatory and legislative framework for calculating pensions in Ukraine. What is of particular importance is improving Ukraine’s laws and methods for calculation and pension payments to citizens. Another important focus of the reform agenda is to define categories of people eligible for old-age pensions, disability pensions, and long- service pensions. Purpose. The purpose of the article is to interpret the regulatory and legislative framework for calculating pensions in Ukraine; to describe changes in pension payments before and after the reform was implemented; to highlight ways of improving pension payments in terms of regulations and legislation. Methods. The research methods used in the article include: analysis; comparison; historical method to consider the legislative framework for calculating pensions at different periods of time. Results. The regulatory and legal framework for calculating pensions in Ukraine is a complex system comprising the Constitution of Ukraine, the Laws of Ukraine, the Labour Code of Ukraine, decrees, Presidential decrees, International agreements and laws of the USSR. Some of these regulations and legislation need to be revised and amended in order to bring them in line with contemporary practices and modern standards. It is claimed that since 2017, Ukraine’s government has been implementing the pension reform aimed at relieving the pressure on the working-age population and improving living standards for retired people. In particular, the retirement age has been raised, eligibility criteria for preferential pensions have been revised, and methods for calculating pensions have been changed. The Ministry of Social Policy of Ukraine argues that the new pension reform is expected to enhance social, labour and post-retirement relations, to increase tax revenues through reporting real salaries, to develop a framework of social justice when calculating pensions. The author points out that the regulatory and legislative framework for calculating pensions is outdated at this stage and it requires changes. The considered changes are as follows: the establishment of a working group for entitlement of preferential pensions; the introduction of wage differentials by industries and occupations; the increase of pensions in line with inflation and age; the implementation of notional defined contribution pension system; the introduction of the new Labour Code and Pension Code, which are expected to regulate labour and post-retirement relations and meet modern standards. It is also indicated that continued employment should be enforced by legislation and a system of granting advantages and social security benefits to those who retire later needs to be developed. In terms of legislation, sufficient regard should be given to non-state pension schemes, defined contribution pension systems, and the principle of fairness when it comes to pension entitlements. It is also crucial to adjust pension amounts and retirement age to align with the sustainability ratio and the average life expectancy. Discussion. Further research of regulatory and legal framework for calculating pensions in Ukraine should be focused on the development of the Pension Code and improvement of the existing laws relative to pension calculation and payment. The author also suggests differentiating minimum wages by industries and regions and countering the illicit labour market and campaigning against payments ‘in envelope’, because official wages are the basis for calculating pensions.
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Barrientos, Armando. "Pension reform, personal pensions and gender differences in pension coverage." World Development 26, no. 1 (January 1998): 125–37. http://dx.doi.org/10.1016/s0305-750x(97)10009-2.
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Paul, Susanne S., and James A. Paul. "The World Bank, Pensions, and Income (In)Security in the Global South." International Journal of Health Services 25, no. 4 (October 1995): 697–725. http://dx.doi.org/10.2190/w99v-7jbj-ep4b-53x2.
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The authors describe and analyze recent reductions and reorganizations of public pension programs in Latin America, as well as trends in pensions in the global South more broadly. They consider the role of the World Bank in the current pension “reform” process and situate the Bank's policies in the context of privatization, reduction of social budgets, and other aspects of structural adjustment. Chilean pension changes are analyzed in particular, showing that even by the Bank's criteria, the reforms have not been successful. The authors then discuss pension changes in China, where the World Bank is also deeply involved. The article concludes with the consideration of a number of arguments about pensions and support mechanisms in later life—including family support and means-tested welfarism—and argues in favor of global policy approaches, such as globally funded pensions and full access by older persons to productive and remunerated labor.
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JAMES, ESTELLE, ALEJANDRA COX EDWARDS, and REBECA WONG. "The gender impact of pension reform." Journal of Pension Economics and Finance 2, no. 2 (July 2003): 181–219. http://dx.doi.org/10.1017/s1474747203001215.
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Pension systems may have a different impact on the two genders because women are less likely than men to work in formal labor markets and earn lower wages when they do. Recent multi-pillar pension reforms tighten the link between payroll contributions and benefits, leading critics to argue that they will hurt women. In contrast, supporters of these reforms argue that women will be helped by the removal of distortions pillar and the better targeted redistributions in the new systems. This paper examines the differential impact of the new and old systems in three Latin American countries – Chile, Argentina and Mexico. Based on household survey data, we simulate the wage and employment histories of representative men and women, the pensions that these are likely to generate under the new and old rules, and the relative gains or losses of the two genders due to the reform. We find that women do indeed accumulate private annuities that are only 30–40% those of men in the new systems. However, this effect is mitigated by sharp targeting of the new public pillars toward low earners, many of whom are women, and by restrictions on payouts from the private pillars, particularly joint annuity requirements. As a result, low-earning married women are the biggest gainers from the pension reform.
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RING, PATRICK JOHN. "Security in Pension Provision: A Critical Analysis of UK Government Policy." Journal of Social Policy 34, no. 3 (June 15, 2005): 343–63. http://dx.doi.org/10.1017/s0047279405008810.
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The Labour government has often argued that it is attempting to find a ‘third way’ in politics, appearing to take its inspiration from Anthony Giddens and, in relation to Labour's pensions policy, Giddens' notion of ‘positive welfare’.Noting that the government maintains that ‘pensions are all about security’, and that it has declared the importance of this position throughout its reform of UK pension provision, this article critically examines the nature of the ‘security’ its reform is likely to deliver. Using the work of Giddens, it notes the importance of the concept of ontological security, and the relevance of trust to security. From this basis, and drawing upon the work of both Giddens and Niklas Luhmann, it goes on to consider whether the government's reforms of the three pillars of pension provision in the UK – state provision, occupational provision and personal provision – are capable of delivering greater security in pension provision.It concludes that, quite apart from the potential criticisms of the conception of positive welfare itself, the government's apparent adoption of such an approach has failed to appreciate adequately the importance of ontological security to any understanding of welfare. As a consequence, it is suggested that the practical outcome is reform that is likely to create much less security in pension provision than either Giddens' approach, or indeed regular government pronouncements, might suggest.
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Gelepithis, Margarita. "Institutional Mismatch, Party Reputation, and Industry Interests: Understanding the Politics of Private-Heavy Pension Systems." Political Studies 66, no. 3 (November 14, 2017): 735–51. http://dx.doi.org/10.1177/0032321717726923.
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Private-heavy welfare systems, in which low or moderate state benefits are topped up by private welfare arrangements, are expected to undermine political support for the extension of social rights and perpetuate benefit fragmentation over time. And where low state benefits are means tested, political support is expected to be particularly prone to erosion. In this article I develop the argument that the combination of private pensions and means-testing does not always perpetuate fragmentation. Rather, it structures the policy preferences of pension industry representatives and right-of-centre parties such that these actors push for reforms to make the state pension more universal. I make my argument by examining the reform history of nine private-heavy pension systems in the three decades since 1980. A fuzzy-set qualitative comparative analysis maps the conditions under which universalizing reforms have occurred, and two case studies link institutional conditions to reform outcomes via the policy preferences of key political actors.
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SCHMÄHL, WINFRIED. "Dismantling an Earnings-Related Social Pension Scheme: Germany's New Pension Policy." Journal of Social Policy 36, no. 2 (March 5, 2007): 319–40. http://dx.doi.org/10.1017/s0047279406000626.
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A paradigm shift in pension policy decided by the German red–green coalition government will considerably affect the level and structure of pension benefits as well as the mix of public and private old-age security arrangements. The article starts with a brief outline of the pension schemes as they had been designed before the recent decisions, and with a few remarks on the reasons for current reform debates. The major measures of the 2001 Pension Reform are then described. The focus of the article is on the effects of the reform for (personal) income distribution and institutional design. A partial shift from (mandatory) public (pay-as-you-go financed) pensions to (voluntary) private (capital-funded) pensions and from defined benefit towards defined contribution will, among other things, reduce the benefit level in the social pension insurance. A large number of contributors – even after many years of paying contributions – will only receive benefits below the social assistance level. It can be expected that this development will transform the present earnings-related statutory pension scheme – which has a strong contribution–benefit link and is aimed at income smoothing over the lifecycle – into a basic, highly redistributive pension scheme, aimed mainly at avoiding poverty. Income inequality in old age is expected to increase as a result of the new strategy in pension policy.
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VAGLIASINDI, PIETRO A., MARZIA ROMANELLI, and CARLO BIANCHI. "REFORMING THE ITALIAN PENSION SYSTEM IN THE XXI CENTURY: THE ISSUE OF SENIORITY PENSIONS ONCE AGAIN." Advances in Complex Systems 07, no. 02 (June 2004): 241–64. http://dx.doi.org/10.1142/s0219525904000111.
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Alternative pension schemes, and early retirement provisions in particular, can produce different effects on retirement behavior, with significant economic consequences. This paper presents new evidence on the effect of different seniority pension reforms, considering the evolution of an agent-based economy in Italy, with heterogeneous workers whose retirement age depends on expected lifetime incomes. Using dynamic aging methods, we examine behavioral changes along proposed pension reform paths. Our model — calibrated to replicate the main demographic and economic features and retirement dynamics of the Italian economy — is used to estimate the age of retirement, total pension expenditures, pension benefits and the trend of inequality and poverty among pensioners under different policy scenarios. More precisely, we compare the current state of affairs (B) with a reform proposed by the Italian Welfare Minister (M) and with an early introduction of a mixed regime for seniority pensions (A) according to two limiting "retirement behavioral rules." Under the individual rationality hypothesis, M produces slightly higher savings with minor redistributive effects; although it leads to an increase in income concentration, M mitigates poverty problems after 2008. The reform is more effective under family-bounded rationality, but it leads to permanent and more significant increases in income concentration and aggravates the diffusion and intensity of poverty.
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BRIDGEN, PAUL, and TRAUTE MEYER. "The Liberalisation of the German Social Model: Public–Private Pension Reform in Germany since 2001." Journal of Social Policy 43, no. 1 (October 29, 2013): 37–68. http://dx.doi.org/10.1017/s0047279413000597.
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AbstractSome commentators view reforms to the German political economy since the 1990s as constituting a broad liberalisation of a previously coordinated market economy (e.g., Streeck, 2009). Others argue that by maintaining protection for core workers the reforms represent a dualisation rather than liberalisation (e.g., Palier and Thelen, 2010). This debate has paid little attention to public–private pension reform since 2001. This paper argues that pensions have been a crucial component of the German social model since 1957 and demonstrates why comprehensive analysis of its development must consider them. After summarising how public and occupational pensions have supported core German workers since 1957, the paper calculates core workers’ projected net pensions and those of less privileged employees before and after recent reforms. On this basis, it concludes that pension reforms have created a system more characteristic of a liberal than a dualised political economy. Since the reform, the projected pensions of today's young workers are closer to the poverty line, and the gap between the projected benefits of core and peripheral workers has narrowed. Increasingly, as young core workers age, they will thus have less incentive to invest in employer specific skills, a development that threatens the model as a whole.
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Shaqiri, Nexhmedin. "Economic Transition Process and Kosovo Pension Reform System." European Journal of Economics and Business Studies 6, no. 1 (December 1, 2016): 80. http://dx.doi.org/10.26417/ejes.v6i1.p80-100.
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This article aims to study the Kosovo economic transition process and its impact on the Pension system reform. The study will focus on; model of new economic building system (market liberalization, economic recovery, the concept of entrepreneurship development, system integration of economic trends in the global economy, privatization and transformation of property, social welfare, social justice), etc. During this study different theories on the transition process in the economy will be used, as well as theories on reforming the pension system in the world, which affirm the sustainability of the construction of the new economic and pension system. Methods used will serve to draw relevant conclusions as follow; heuristic, descriptive, historical, comparative, statistical. The hypothesis of this study is, "Impact of the economic reform system in Kosovo and its results in the construction of the new sustainable pension system model." Through this study conceptual changes to the economic system will be put forward, dealing with socialist and liberal philosophy, as different concepts of economic development, the role of the state or the market as a regulator of the economic system. In particular, attention is paid to the new pension system in Kosovo; the causes for reform of the pension system, reforming the pension system, the basic goals of the reform of the pension system, the types of pensions systems in the world, the conceptual basis of the construction of the pension system in Kosovo, the principles of the reform of the pension system, the regulatory framework of the new pension system in Kosovo, advantages and challenges of multi pillar pension system model, the model used for Kosovo's pension system, pension schemes in Kosovo, the efficiency of the new pension system in Kosovo, comparing the new pension system in Kosovo with pension systems of other countries in the region.
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Freudenberg, Christoph, and Frederik Toscani. "Informality and the Challenge of Pension Adequacy." IMF Working Papers 19, no. 149 (July 11, 2019): 1. http://dx.doi.org/10.5089/9781498318525.001.
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Past reforms have put the Peruvian pension system on a largely fiscally sustainable path, but the system faces important challenges in providing adequate pension levels for a large share of the population. Using administrative microdata at the affiliate level, we project replacement rates in the defined benefit (DB) and defined contribution (DC) pillars over the next 30 years and simulate the impact of various reform scenarios on the average level and distribution of pensions. In the DB pillar, the regressive minimum contribution period should be re-thought, while in the DC pillar a broadening of the contribution base and/or an increase in contribution rates would help increase replacement rates relative to the baseline forecast of 25-33 percent. A higher net real rate of return than assumed in the baseline would also have a significant positive impact. In the medium-term, labor market reform to tackle informality, and a broad pension reform to restructure the system and avoid competition between the DB and DC pillars should be a priority. Given low pension coverage, having a strong non-contributory pillar will remain important for the foreseeable future.
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Koval, Natalia, Natalia Priamuhina, and Inna Zhmurko. "ANALYSIS OF ECONOMIC-FINANCIAL EXPERIENCE OF THE WORLD COUNTRIES IN THE SYSTEM OF PENSION INSURANCE." Baltic Journal of Economic Studies 6, no. 1 (March 16, 2020): 1. http://dx.doi.org/10.30525/2256-0742/2020-6-1-1-8.
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The purpose of this article is to analyze the experience of pension insurance systems in Europe, Asia, North and South America, Australia. The defining feature is that the existing pension insurance system in Ukraine does not perform its main task properly, since the rate of pension, for the most part, does not make it possible to maintain a decent standard of living for current pensioners. After analyzing the implementation of the pension reform in Ukraine, it should be emphasized that during the twelve-year period after the pension reform in the country there remain a number of unresolved issues regarding the pension provision of citizens, namely: aging of the population, which is one of the main factors that prompt the government to a new stage of reforming the pension system; the presence of arrears on contributions to compulsory state pension insurance; lack of proper differentiation of pension payments; shadow wages; lack of sound financial instruments for investing pension assets; unsatisfactory level of legal and financial awareness of the population in matters of pension provision; lack of interest of employers in financing non-state pension programs for employees, lack of confidence in the pension system of non-state pension funds. Methods. In most countries of the world, the problems of the pension system, same to what we have in our country, arose. But due to pension reform, they achieved successful results. Each country chose its own way of building a pension system based on its own demographic and socioeconomic features. However, despite this, the main task of any pension system is to secure from poverty and provide a pension that could guarantee a decent standard of living for a pensioner. Results. Ukraine is trying to build the pension insurance system, drawing on the best practice of the countries studied. Practical implications. It is found that the most effective and successful model of the pension system is considered to be Chilean, since the country has been using cumulative and voluntary pension systems for a long time, which are priority and allow to resolve the pension of their citizens financially, prudent and efficient investing of pension funds with lower rates of public investment income. The same model was taken as the basis in Peru, Argentina, Colombia and Kazakhstan. Value/originality. Analyzing the pension reforms implemented in Eastern Europe, it should be noted that part of the changes was due to the need to protect pensioners from poverty in the context of a sharp decrease in the rate of pensions because of the reduction of total pension contributions and the inability of the state to finance previous pension obligations. The real way to reduce the financial burden on employers and the state in the context of a solidarity pension system was to develop levels II and III of the pension system. It is noteworthy to study the foreign experience of the Eastern European country, such as Poland, which was one of the first to introduce a compulsory funded pension system.
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Cristina, Maria, and Gomes Da Conceição. "Households and Income: Ageing and Gender Inequalities in Urban Brazil and Colombia." Journal of Developing Societies 18, no. 2-3 (June 2002): 149–68. http://dx.doi.org/10.1177/0169796x0201800207.
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This paper discusses the ageing process in Brazil and Colombia according to gender and socioeconomic inequalities. The ageing process is related to reforms in social policies in each country. Reforms in the pension systems show contrasting results for the family structure and income. In Brazil, the extension of pensions to rural and informal workers leads to empowering poorer elderly women and men in economic and domestic relationships. Universalizing pensions allows the elderly to chose to live alone or to support adult children. On the other hand, in Colombia the reform created the individual saving system, reinforcing social exclusion and inequalities at the end of the life course. At the same time, the structural adjustments of the economy have generated new social contracts and economic order, but in different ways. The universal or individual character of the new pension system redefines in each country the profile of gender, generations, and socioeconomic inequalities. The universal reform can mitigate the economic and domestic exclusion of poorer and rural elderly, as in Brazil; and the individual reform can reinforce inequalities and, as a result, reproduce gender roles of domestic submission and dependence for poorer women in advanced ages.
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ARZA, CAMILA. "Pension Reform in Latin America: Distributional Principles, Inequalities and Alternative Policy Options." Journal of Latin American Studies 40, no. 1 (February 2008): 1–28. http://dx.doi.org/10.1017/s0022216x07003616.
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AbstractDuring the 1990s a wave of major structural reforms that changed the distributional principles underpinning pension policies spread across Latin America. Outcomes were not always as expected. The implementation of new pension rules in the socio-economic, political and institutional context of Latin America has resulted in a number of inequalities which affect pension system performance and the gains that different income groups and generations may obtain. In order to overcome the distributional drawbacks of reform, Latin American governments may need to afford a new role to non-contributive pensions, as well as consider the application of specific regulatory adjustments to reduce the risks and inequalities involved in the private pillar. Cross-border policy learning may provide useful tools to achieve these aims.
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Petreski, Blagica, and Marjan Petreski. "Dynamic microsimulation modelling of potential pension reforms in North Macedonia." Journal of Pension Economics and Finance 20, no. 1 (January 10, 2020): 49–66. http://dx.doi.org/10.1017/s1474747219000374.
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AbstractDue to structural and policy shifts, pension deficit in North Macedonia doubled over a decade and significantly outpaced the central budget deficit. The objective of the paper is to examine fiscal and development effects of few pension-reform designs. We constructed MK-PENS Dynamic Microsimulation Pension Model and simulated the effects of few reforms affecting one stakeholder and few combined reforms. Results robustly suggest that without reform and assuming only statutory pension adjustment, the deficit will remain as is. Simulated scenarios suggest that proposed pension reforms significantly reduce the pension deficit, with the most favourable results obtained within the combined scenarios of shared burden. Gradual introduction of reform's elements should come into play in case large political cost is envisaged.
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BÖRSCH-SUPAN, AXEL, ANETTE REIL-HELD, and DANIEL SCHUNK. "Saving incentives, old-age provision and displacement effects: evidence from the recent German pension reform." Journal of Pension Economics and Finance 7, no. 3 (May 9, 2008): 295–319. http://dx.doi.org/10.1017/s1474747208003636.
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AbstractIn response to population aging, pay-as-you-go pensions are being reduced in almost all developed countries. In many countries, governments aim to fill the resulting gap with subsidized private pensions. This paper exploits the recent German pension reform to shed new light on the uptake of voluntary, but heavily subsidized private pension schemes. Specifically, we investigate how the uptake of the recently introduced ‘Riester pensions’ depends on state-provided saving incentives, and how well the targeting at families and low-income households works in practice.We show that, after a slow start, private pension plans took off very quickly. While saving incentives were effective in reaching parents, they were less successful in attracting low-income earners, although Riester pensions exhibit a more equal pattern by income than occupational pensions and unsubsidized private pension plans.We also provide circumstantial evidence on displacement effects between saving for old-age provision and other purposes. Households who plan to purchase housing are less likely to have a Riester pension. The same holds for households who attach high importance to a bequest motive. Occupational pensions and other forms of private pensions, however, act as complements rather than as substitutes.
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Pikus, Ruslana, and Anna Khemii. "REFORMING OF PENSION INSURANCE SYSTEM OF COUNTRIES OF WESTERN EUROPE." Economic Analysis, no. 27(1) (2017): 131–38. http://dx.doi.org/10.35774/econa2017.01.131.
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Introduction. Investigation of foreign experience of structural pension reform is important for Ukraine. Pension insurance system in Ukraine has not been reformed in time therefore now it should go through all the stages of reforms in short terms. European countries have already passed all these stages. This process has lasted for decades. Investigation of changes in economic thought on the concept of "reform" all over the world in the context of pension insurance and mechanisms of its implementation in Western Europe in the second half of the twentieth century is a prerequisite for effective reform. Purpose. The research aims to investigate the experience of countries of Western Europe as for the structural reform of pension insurance system and its implementation in Ukraine. Results. This article explores the factors that cause structural pension reform in Europe and the possibility of its implementation in Ukraine. The historical stages of emergence and development of retirement insurance in the world have been determined. Two basic models of pension systems have been singled out. Economic thought of leading European scientists as for the pension insurance changes under the influence of time and transformations in the economy have been considered. The reasons of the pension insurance reform in Europe in postwar period have been investigated. The history of the first cumulative programs and the creation of private pension insurance that leaded to a structural reform in the countries of Western Europe have been studied. Different factors that affect the likelihood of structural pension reform in any country and the possibility of such a reform in Ukraine have been investigated.
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SYDOR, Iryna, and Tetiana DENYSIUK. "STATE PENSION INSURANCE IN UKRAINE: MODERN CHALLENGES AND DIRECTIONS OF REFORM." WORLD OF FINANCE, no. 1(70) (2022): 22–35. http://dx.doi.org/10.35774/sf2022.01.022.
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Introduction. Reforming the pension system in Ukraine is associated with the need to introduce a second funded level of pension insurance in the face of a steady deficit of the Pension Fund, the presence of significant shortcomings in the mechanism for calculating pension payments that do not depend on the volume of contributions paid for compulsory state pension insurance of the level of pensions, the level of which in the conditions the constant rise in prices for essential goods and services causes the impoverishment of the population. The purpose of the article is to conduct a comprehensive analysis of the domestic practice of generating budget revenues for the Pension Fund of Ukraine and spending in the context of permanent changes in the country, identify the main trends and challenges and determine the main directions for reforming the pension system of Ukraine. Results. An analysis was made of the domestic practice of generating budget revenues for the Pension Fund of Ukraine in the context of a reduction in incomes of the population due to quarantine measures due to the spread of COVID-19, job losses, crisis phenomena in the country's economy, as well as additional items of expenditure of the Pension Fund budget aimed at material support of citizens retirement age. The shortcomings of the current practice of functioning of the solidary system of pension insurance are identified. Conclusions. Substantiated proposals for the effective implementation of the second funded level of the pension insurance system in Ukraine. It has been determined that the combination of a solidary and funded pension insurance system in today's conditions is the best option, since it will diversify various types of risks and provide basic types of pensions.
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Thom, Michael. "The Drivers of Public Sector Pension Reform Across the U.S. States." American Review of Public Administration 47, no. 4 (June 3, 2015): 431–42. http://dx.doi.org/10.1177/0275074015589342.
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This study analyzes the diffusion of public sector pension reforms across the American states between 1999 and 2012, a policy area notable for its fiscal implications as much as its recent political polarization. Previous enactment in other, non-contiguous states was the largest and most consistent driver of reform. Otherwise, empirical findings suggest that reform antecedents varied by reform type. Existing funding levels reduced the likelihood that states would cut benefits, change pension governance, or reduce cost of living allowances, but had no effect otherwise. Evidence for partisan legislative influence is weak, although Republican control had partial, positive effects on the enactment of pension governance reforms and increases to the retirement age. Across the board, other relevant factors such as constitutional pension protections, collective bargaining rights, and union membership density had no effect. That external contagion pressures have a more robust influence than endogenous conditions raises questions about the future efficacy of pension reform.
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Saritas, Serap. "Financialisation of pensions: The case of Turkey." Global Social Policy 20, no. 1 (June 13, 2019): 60–79. http://dx.doi.org/10.1177/1468018119856042.
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This study contributes to the literature on pension reforms by evaluating the Turkish case within a theoretical framework drawing on financialisation as extensive and intensive accumulation of finance assets. Financialisation refers to the expansion of finance into ever more areas of economic and social life while increasing its depth through more sophisticated financial operations. The Turkish pension reform, which has been run under the influence of global policy actors, illustrates the integration of finance with social policy. The intensification of dependence upon finance is demonstrated by the Turkish pension funds that stimulate innovation of financial instruments through demand-side impacts on capital markets. The critical analysis of financialised pensions reveals that the social policy advice of international financial institutions, with motives to extend financial markets, exacerbates class and gender inequalities. JEL Classification: G230 Pension funds; J140 Ageing, Pension; N2 Financialisation
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Zhukova, T. V. "Wavelike Character of Pension Reforms. First-wave 1994–2008." Outlines of global transformations: politics, economics, law 12, no. 6 (December 30, 2019): 130–51. http://dx.doi.org/10.23932/2542-0240-2019-12-6-6.
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The article puts forward the hypothesis about the wave nature of pension systems reforms since the early 1990 under the effect of demographic and economic factors. In response to the results of previous works on this subject and statistical analysis results, wave’s mechanism has been identified. Conditions for starting the wave of pension reforms established with long-term demographic trend in periods of tension (the higher growth rates of age dependency ratio and others). The start and dynamic of the wave are determined by macroeconomic shocks arise from decreasing phase of business-cycle. The growth phase of pension reforms are followed by the period of deceleration. There is a factor that slowdowns responses to macroeconomic shocks (the decisions about pension reforms are not accepted instantly). Pension system adjusts to new conditions until further tightening. Quantitative and quality analysis of pension reforms across countries would allow to test this hypothesis. To that end an appropriate instruments have been developed: the classifier of pension reform (67 items with scoring system to estimate the depth of the changes), evaluation system for economic factors influences via sensitive to pension systems indicators and associated macroeconomic shocks. A cross-section of 24 countries generates a mix of pension reforms for the period of 1994–2019, two waves of pension reforms (1990–2008 and 2009 – present) is revealed, the hypothesis of waves nature of pension reforms is confirmed. The heart of pension systems transformations in the first way is identified. These are lowering of government pensions obligations, shifting the risks from state to population with the introduction of DCschemes. The suggestions that the implementation of second pillar is positive only for countries with well-developed financial market. The research of second-wave of pension reforms and projection of the third way will be dealt with in the next article.
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YUDINA, EKATERINA. "ACTIVITIES OF NON-STATE PENSION FUNDS IN THE FIELD OF EARLY NON-STATE PENSION PROVISION." Economic problems and legal practice 16, no. 5 (October 20, 2020): 248–52. http://dx.doi.org/10.33693/2541-8025-2020-16-5-248-252.
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The system of early retirement pensions was inherited from the USSR and every third Russian pensioner receives a preferential pension. It is assigned to metallurgists, oil workers, coal miners, ballerinas, trolleybus drivers, teachers - the lists of early retired pensioners are huge. The conduction of pension reform involved seeking resources within the system itself. To solve the problem of financing preferential pensions, a system of early non-state pension provision was created, implemented through non-state pension funds. However, the existing legislative regulation does not stimulate employers of hazardous and dangerous industries to create corporate pension programs due to the fact that they will not exempt employers from paying additional insurance premiums in favor of employees on preferential lists. As a result, there are no employers in the country who will not only pay wages on time, transfer insurance premiums in a timely manner, but for this category in an increased amount, but will also form additional contributions for the same employees under the early non-state pension system. The non-state pension paid in the frame of this system does not replace the early insurance old-age pension, that is, it does not entail a decrease in federal budget costs. The purpose of this study is to consider the main legal acts and the process of development of legislation on early non-state pension provision. The result of the study is practical proposals for improving the legal framework of the early retirement pension system.
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GAL, JOHN. "How well does a partnership in pensions really work? The Israeli public/private pension mix." Ageing and Society 22, no. 2 (March 2002): 161–83. http://dx.doi.org/10.1017/s0144686x02008619.
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This paper takes the old-age pension system in Israel as a test case to examine the implications of proposals for pension reform now being debated or implemented in many welfare states. For over a decade, high on the agenda of decision-makers on both national and international levels, there has been the notion of moving towards a changing ‘partnership in pensions’ or, to put it more bluntly, towards greater privatisation of social security. Virtually since its emergence in the 1950s, the Israeli old-age pension has been based primarily upon a mix of low universal state pensions and income-related private occupational pensions. This paper compares the British and Israeli social security systems for older people in the wake of the reforms recently introduced in Britain and analyses the implications of the Israeli structure on the distribution of social security spending and on the wellbeing of different categories of older individuals.
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Timshina, Ekaterina Leonidovna. ""We are returning...". Issues of pension provision in the elections to the State Duma of the Russian Federation of the VIII convocation." Право и политика, no. 3 (March 2022): 23–35. http://dx.doi.org/10.7256/2454-0706.2022.3.36817.
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One of the main directions of the state's social policy is to support the elderly. In the Russian Federation, after the last pension reform of 2018, the issue of pension provision has become one of the main points of tension in the relationship between the state and society, which was reflected in the federal election campaign of 2021. The subject of study in this article is the proposals of political parties in the field of pension policy. The election programs of the parties in the 2021 elections to the State Duma of the Russian Federation of the VIII convocation were used as the object of the study. The author examines the attitude of the authors of pre-election programs to certain aspects of pension reform, including changes in the retirement age, the direction of further reforms, social protection of pensioners and pre-retirees, in addition, a comparison with the position of the parties in 2016 was made. The results of the study are based on the use of general scientific methods and principles of scientific knowledge, a systematic approach, comparative analysis and historical objectivity. Despite the continued significant interest of the population in the pension problem in 2021, which sharply increased after the retirement age was increased, the parties were unable to fully realize the potential of this issue. Speaking from critical positions, they focused on counter-reform, reducing most of the proposals to a return to the past, practically offering no innovations. Most of the statements on raising the level of pensions were clearly populist in nature and had no mechanism for their implementation. Regarding the 2016 elections, opposition parties have noticeably intensified criticism of the existing system and the Pension Fund of Russia. United Russia, on the other hand, distanced itself as much as possible from the pension reform, without touching on the latest changes in its election theses. It can be expected that in the next election cycle, the pension issue will retain the status of one of the central issues in the election campaign.
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Fatenok-Tkachuk, Alla, and Daryna Melnyk. "THE STATE OF THE PENSION INSURANCE ACCOUNTING PROVISION ENVIRONMENT." Economic Analysis, no. 32(2) (2022): 194–202. http://dx.doi.org/10.35774/econa2022.02.194.
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The subject of the article is theoretical and applied principles of accounting support of pension provision in Ukraine. The purpose of the publication is the formation of theoretical and methodological and applied aspects of accounting and tax support of pensions in Ukraine. In the course of the research such methods were used as: systematization and generalization, retrospective analysis of the state of pension provision. The main aspects of providing pension insurance in Ukraine are considered. The issue of essential characteristics and structure of the pension system in accordance with the Law of Ukraine "On Compulsory State Pension Insurance" was updated. The main problems of the current state of pension provision have been identified, namely: imbalance of the Pension Fund budget revenues with its expenditures, which leads to a constant deficit of funds in it; a sharp increase, as a result of the 2011 pension reform, retirement age and length of service; rapid growth of the ratio between citizens of working and working age; a fairly high percentage of payment of cash contributions to the pension fund; low level of pension benefits, sometimes less than the subsistence level; underdeveloped system of private pension provision and ignorance of Ukrainian citizens with the pension system. The main aspects of pension reform in Ukraine are presented and the main principles that will help to improve the situation are highlighted. These include, in particular, such as: recalculation of pensions using modern indicators of the salary base; strengthening the requirements for insurance experience. The research of scientific works revealed the types of private pension funds, the expediency and efficiency of their activities, systematized the benefits of creating enterprises to ensure future costs and payments. The article examines the peculiarities of creating preferential pensions at the enterprise, outlines the main aspects of accounting for pensions, taxation of contributions to private pension funds, summarizes the impact of costs incurred in creating the provision of pension benefits for income tax.
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Müller, Katharina. "Articles Originally Presented at the EISS Conference on ‘EU Enlargement and Social Security’: Pension Reform in the East European Accession Countries." European Journal of Social Security 5, no. 1 (March 2003): 7–37. http://dx.doi.org/10.1177/138826270300500102.
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This paper focuses on the recent pension reform choices in the East European accession countries, which have seen many developments in this highly sensitive policy area. The paper does not discuss the desirability of alternative pension reform paths but, instead, seeks to explain how different pension reform choices came to be made in five EU accession countries. Three of the countries – Hungary, Poland and Bulgaria – represent countries which have adopted partial pension privatisation, while the other two countries – the Czech Republic and Slovenia – have reformed existing PAYG schemes without resorting to privatisation. The behaviour of individual and collective actors in the pension reform arena in each of these countries and the economic, political and institutional constraints on them are analysed in an attempt to explain why some countries have opted for radical reforms while other have not.
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HEINEMANN, FRIEDRICH, TANJA HENNIGHAUSEN, and MARC-DANIEL MOESSINGER. "Intrinsic work motivation and pension reform preferences." Journal of Pension Economics and Finance 12, no. 2 (October 11, 2012): 190–217. http://dx.doi.org/10.1017/s1474747212000327.
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AbstractAlthough demographic change leaves pay-as-you-go pension systems unsustainable, reforms, such as a higher pension age, are highly unpopular. This contribution looks into the role of intrinsic motivation as a driver for pension reform preferences. Theoretical reasoning suggests that this driver should be relevant as it decreases the subjective costs of a higher pension age. We test this key hypothesis on the basis of the German General Social Survey (ALLBUS). The results are unambiguous: in addition to factors such as age or education, the inclusion of intrinsic work motivation helps improving our prediction of an individual's reform orientation.
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Bochkovyi, Oleksiy, and Liusia Mozhechuk. "enforcement reform in Ukraine – a one-time phenomenon or a constant process?" Naukovyy Visnyk Dnipropetrovs'kogo Derzhavnogo Universytetu Vnutrishnikh Sprav 5, no. 5 (December 30, 2020): 92–96. http://dx.doi.org/10.31733/2078-3566-2020-5-92-96.
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The scientific article examines the effectiveness and prospects of reforming law enforcement agencies of Ukraine. Issues that arose during the implementation of such a reform, which in turn affected the effectiveness of law enforcement in Ukraine, were highlighted. The issue of introduction of the project «Police detectives» is investigated. The meaning of the concept «police detectives» is revealed, the peculiarities of their work and results are given. Emphasis is placed on the need to make appropriate changes to existing regulations in connection with the reform, as most provisions aren’t consistent with each other or don’t fully regulate certain legal relations. Emphasis is placed on pension reform in Ukraine, highlighting key aspects of such reform. Par-ticular attention was paid, in particular, to the issue of pensions for employees of the National Police in the context of the reform, analyzed the regulations governing legal relations in this area. The problematic aspects of the exercise of the right to a pension by former law enforcement officers, in particular the pay-ment of pensions under the new recalculations, are highlighted. Specific examples from case law on the violation of the right to adequate pension provision are given.
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Dorofeev, M. L. "Directions for improving the pension indexations mechanism in the context of Russian economy’s transformation." Vestnik Universiteta, no. 9 (November 1, 2022): 110–19. http://dx.doi.org/10.26425/1816-4277-2022-9-110-119.
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The purpose of this study is to analyse the current mechanism for indexing pensions of Russian pensioners and find directions for its possible development in the context of the structural transformation of the Russian economy. To achieve this goal, a statistical and coefficient analysis of pension level indicators from the Rosstat database was carried out. Based on the results obtained, it was concluded that, all other things being equal, it is not possible to fundamentally improve the level of pension provision and it is necessary to continue to carry out significant reforms of the Russian pension system. Taking into account the new realities in which Russia found itself after February 2022, authors proposed and analysed directions in which it would be possible to further reform the Russian pension system. The proposed directions were classified into four groups: 1) measures of a general economic nature, indirectly affecting the level of pension provision; 2) changing the general parameters of the existing pension system in order to optimize it; 3) the development of a non-governmental pension insurance system to solve the problem of a low replacement rate for high-income groups of pension recipients and 4) a change in the existing mechanism for indexing pensions, which involves more radical changes to fundamentally increase the level of pension provision for Russian pensioners.
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Khmyz, O. "Private Pension Funds' Problems." Voprosy Ekonomiki, no. 7 (July 20, 2004): 123–31. http://dx.doi.org/10.32609/0042-8736-2004-7-123-131.
Full textAbstract:
Private pension funds in Russia have been growing in number dramatically over the past few years. The increasing importance of private pension funds as holders of financial assets means that their impact on the functioning of financial markets is steadily growing. The article discusses the range of factors that can stimulate further development of the pension system reform — principles of private professional pensions' regulation as well as the structure and mechanisms of pension funds' management.
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Fornero, Elsa. "From Pension Design to Pension Reform." Journal of European Social Policy 13, no. 3 (August 2003): 273–75. http://dx.doi.org/10.1177/09589287030133006.
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