Pension Reform in Southeastern Europe : Linking to Labor and Financial Market Reforms

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Title:
Pension Reform in Southeastern Europe : Linking to Labor and Financial Market Reforms
Author: Holzmann, Robert ; MacKellar, Landis ; Repansek, Jana
Subjects: AGE-EARNINGS ; AGE-EARNINGS PROFILES ; ASSET ALLOCATION ; ASSET CLASS ; ASSET PORTFOLIO ; ASSET VALUE ; AVERAGE EARNINGS ; BALANCE SHEETS ; BANKS ; BENEFICIARIES ; BENEFIT FORMULA ; BEST PRACTICE ; CALCULATION ; CALCULATIONS ; CAPITAL MARKET ; CAPITAL MARKET DEVELOPMENT ; CAPITAL MARKETS ; CARE FOR CHILDREN ; CENTRAL BANK ; CENTRAL BANKS ; CENTRAL DEPOSITORY ; COMPULSORY CONTRIBUTIONS ; CONTINGENCIES ; CONTINGENT LIABILITIES ; CONTRIBUTION ; CONTRIBUTION RATE ; CONTRIBUTIONS ; CORPORATE BONDS ; CURRENCY ; CURRENT PENSION ; DEPOSITS ; DEPRECIATION ; DISABILITIES ; DISABILITY ; DISABILITY BENEFITS ; DISABILITY INSURANCE ; DIVERSIFICATION ; DIVORCE ; DIVORCES ; EARLIER RETIREMENT ; EARLY RETIREMENT ; EARNINGS ; EARNINGS OF WOMEN ; ECONOMIC ACTIVITY ; EXCHANGE RATES ; FAMILY STRUCTURES ; FINANCES ; FINANCIAL AFFAIRS ; FINANCIAL ASSETS ; FINANCIAL INCENTIVES ; FINANCIAL INFRASTRUCTURE ; FINANCIAL INSTRUMENTS ; FINANCIAL LITERACY ; FINANCIAL MARKET ; FINANCIAL MARKET DEVELOPMENT ; FINANCIAL MARKETS ; FINANCIAL POLICY ; FINANCIAL RISKS ; FINANCIAL SECTOR ; FINANCIAL SECTOR DEVELOPMENT ; FINANCIAL SERVICES ; FINANCIAL SYSTEM ; FINANCIAL SYSTEMS ; FUND ASSET ; FUND ASSETS ; FUND MANAGEMENT ; FUTURE VALUES ; GLOBALIZATION ; GOVERNMENT POLICIES ; GOVERNMENT POLICY ; GROSS DOMESTIC PRODUCT ; HOUSEHOLD APPLIANCES ; HOUSEHOLD SAVINGS ; IMPLICIT TAX ; INCOME ; INCOME REPLACEMENT ; INCOME SOURCES ; INDIVIDUAL ACCOUNTS ; INDIVIDUAL PENSION ; INDIVIDUAL RETIREMENT ; INDIVIDUAL RETIREMENT ACCOUNTS ; INDIVIDUAL SAVINGS ; INTERNATIONAL BANK ; INTERNATIONAL STANDARDS ; INVESTING ; INVESTMENT CLIMATE ; INVESTMENT FUND ; INVESTMENT PERFORMANCE ; INVESTMENT REGULATIONS ; INVESTMENT RETURNS ; INVESTMENT STRATEGIES ; INVESTMENT STRATEGY ; LABOR FORCE ; LABOR MARKET ; LABOR MARKET PERSPECTIVE ; LABOR MARKETS ; LIFE EXPECTANCIES ; LIFE EXPECTANCY ; LIFE SPANS ; LIFETIME ; LONG-TERM CARE ; MACROECONOMIC PERFORMANCE ; MACROECONOMIC POLICY ; MACROECONOMIC STABILITY ; MANDATORY PENSION FUNDS ; MARKET DEVELOPMENTS ; MARKET ECONOMY ; MARKET FAILURES ; MARKET INTEGRATION ; MARKET PARTICIPANTS ; MARKET REFORM ; MARKET REFORMS ; MONETARY FUND ; NATIONAL BANK ; NET ASSET ; OLD-AGE PENSION ; OLD-AGE PENSIONS ; OLDER WORKERS ; PENSION ; PENSION ASSETS ; PENSION BENEFITS ; PENSION COVERAGE ; PENSION FUND ; PENSION FUND ASSETS ; PENSION FUNDS ; PENSION ISSUES ; PENSION PRODUCTS ; PENSION PROVISION ; PENSION REFORM ; PENSION REFORM DEVELOPMENTS ; PENSION REFORMS ; PENSION RIGHTS ; PENSION SAVINGS ; PENSION SCHEME ; PENSION SCHEMES ; PENSION SPENDING ; PENSION SYSTEM ; PENSION SYSTEM REFORM ; PENSION SYSTEMS ; PENSIONERS ; PENSIONS ; PERSONAL SAVINGS ; PORTFOLIOS ; PRIMARY EDUCATION ; PRIVATE PENSION ; PRIVATE SAVING ; PRIVATE SAVINGS ; PROBABILITY ; PRODUCTIVITY ; PUBLIC BUDGET ; PUBLIC DEBT ; PUBLIC EXPENDITURE ; PUBLIC EXPENDITURES ; PUBLIC FINANCE ; PUBLIC FINANCES ; PUBLIC PENSION ; PUBLIC PENSION SCHEMES ; PUBLIC PENSIONS ; RATES OF RETURN ; REGULATORY FRAMEWORK ; REPLACEMENT RATE ; REPLACEMENT RATES ; RETIRED ; RETIRED WORKERS ; RETIREMENT ; RETIREMENT AGE ; RETIREMENT AGES ; RETIREMENT BENEFITS ; RETIREMENT DECISIONS ; RETIREMENT INCENTIVES ; RETIREMENT INCOME ; RETIREMENT INCOMES ; RETIREMENT PENSION ; RETIREMENT PRODUCTS ; RETIREMENT PROGRAMS ; RETIREMENT SAVINGS ; SAVERS ; SAVINGS FOR RETIREMENT ; SECURITIES ; SENIOR ; SEVERANCE PAY ; SOCIAL EXCLUSION ; SOCIAL INSURANCE ; SOCIAL INSURANCES ; SOCIAL PROTECTION ; SOCIAL RISK MANAGEMENT ; SOCIAL SECURITY ; SOCIAL SECURITY CONTRIBUTIONS ; SOCIAL WELFARE ; SOURCES OF PENSION ; SPECTRUM OF RISKS ; STATE PENSION ; STOCK EXCHANGE ; STOCKS ; SUPERVISORY AUTHORITY ; TAX ; TAX BENEFITS ; TAX BREAKS ; TAX RATES ; TAX REGIME ; TAX TREATMENT ; TRANSACTION ; TRANSITION ECONOMIES ; TYPES OF PENSION ; UNEMPLOYED ; UNEMPLOYMENT ; UNEMPLOYMENT BENEFITS ; VALUABLE ; WAGE ; WAGE GAP ; WAGES ; WELFARE STATE ; WITHDRAWAL ; WORKING LIFE ; WORKING LIVES ; YEARLY SAVING ; YOUNG ADULTS ; YOUNG CHILDREN ; YOUNGER WORKERS
Description: The reform of public pension systems and, more generally, the review of old-age income support are on the reform agenda worldwide. The reform discussion is more intense in countries where population aging is well advanced, including the member countries of the Organization for Economic Co-operation and Development (OECD), much of Latin America, China, Russia, and the former transition economies of Southeastern Europe (SEE). But developing countries in the global South are also awakening to the challenges of aging and old-age income support in view of changing family structures, urbanization, and migration. Over 80 percent of the increase in the numbers of persons age 65 and older up to 2050 will take place in countries with current per capita incomes of US$1,000 and below. Whereas the North grew rich before becoming old, the South risks becoming old before becoming rich. The remainder of the chapter attempts to substantiate this point. The next section briefly describes aging and its fiscal implications in the light of demographic developments in the countries of Southeastern Europe. There follows an outline of the drivers of pension reform that go beyond population aging and have to be understood when choosing among reform options. Subsequent sections take up recent international reform trends and lessons and underline key points concerning the labor market and financial market reforms needed to support pension reform. The chapter ends with some concluding remarks.
Related Titles: Directions in Development
Publisher: World Bank
Creation Date: 2009
Language: English
Identifier: ISBN: 9780821375587
ISBN: 082137558X
Source: Open Knowledge Repository
Ebook Central Academic Complete


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Pension Reform in Southeastern Europe : Linking to Labor and Financial Market Reforms

CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank ;ISBN: 9780821375587 ;ISBN: 082137558X

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