US Pension Reform
Author | : Martin Neil Baily |
Publisher | : Peterson Institute |
Total Pages | : 534 |
Release | : 2009 |
Genre | : Pensions |
ISBN | : 0881325635 |
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Author | : Martin Neil Baily |
Publisher | : Peterson Institute |
Total Pages | : 534 |
Release | : 2009 |
Genre | : Pensions |
ISBN | : 0881325635 |
Author | : Mr.Benedict J. Clements |
Publisher | : International Monetary Fund |
Total Pages | : 86 |
Release | : 2013-01-25 |
Genre | : Business & Economics |
ISBN | : 147556631X |
Pension reform is high on the policy agenda of many advanced and emerging market economies. In advanced economies the challenge is generally to contain future increases in public pension spending as the population ages. In emerging market economies, the challenges are often different. Where pension coverage is extensive, the issues are similar to those in advanced economies. Where pension coverage is low, the key challenge will be to expand coverage in a fiscally sustainable manner. This volume examines the outlook for public pension spending over the coming decades and the options for reform in 52 advanced and emerging market economies.
Author | : Martin Feldstein |
Publisher | : University of Chicago Press |
Total Pages | : 515 |
Release | : 2009-02-15 |
Genre | : Political Science |
ISBN | : 0226241912 |
Social Security in the United States and in Europe is at a critical juncture. Through the essays assembled in Social Security Pension Reform in Europe, Martin Feldstein and Horst Siebert, along with a number of distinguished contributors, discuss the challenges facing Social Security reform in the aging societies of Europe. A remarkable range of European nations—Germany, France, Finland, the Netherlands, Poland, Romania, Italy, Sweden, the United Kingdom, and Hungary—have implemented or are about to implement mixed Social Security systems that combine a traditional defined benefit of the pay-as-you-go system with an individual retirement account defined contribution of a capital-funded system. The essays here highlight the problems that the European pension reform process faces and how it differs from that of the United States. This timely volume will significantly enrich the debate on pension reform worldwide.
Author | : United States. Congress. Senate. Committee on Finance. Subcommittee on Private Pension Plans |
Publisher | : |
Total Pages | : 680 |
Release | : 1973 |
Genre | : Pension trusts |
ISBN | : |
Author | : Samuel Pienknagura |
Publisher | : International Monetary Fund |
Total Pages | : 52 |
Release | : 2021-09-10 |
Genre | : Business & Economics |
ISBN | : 151359611X |
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.
Author | : United States. Congress. House. Committee on Education and the Workforce |
Publisher | : |
Total Pages | : 128 |
Release | : 2005 |
Genre | : Business & Economics |
ISBN | : |
Author | : |
Publisher | : |
Total Pages | : 116 |
Release | : 1983 |
Genre | : Civil service |
ISBN | : |
Author | : United States. Congress. Senate. Committee on Finance |
Publisher | : |
Total Pages | : 260 |
Release | : 1999 |
Genre | : Business & Economics |
ISBN | : |
Author | : Olivia S. Mitchell |
Publisher | : University of Pennsylvania Press |
Total Pages | : 446 |
Release | : 1999-01-29 |
Genre | : Business & Economics |
ISBN | : 9780812234794 |
The United States social security system is the nation's largest social insurance program. As such, it has a far-reaching impact throughout the economy, influencing not only old-age economic security but also many behaviors, including corporate employment policy, retirement patterns, and personal saving. In the past, the system's universal coverage and generous benefits ensured popular support to a degree enjoyed by no other form of "big government" social spending. Yet over two-thirds of all Americans today believe that the social security system will face bankruptcy by the time they retire. The question of social security reform—how to reform the system or whether the system needs reform at all—is the subject of heated debate at all levels of government, in the media, and among workers, pensioners, and employers. Prospects for Social Security Reform informs the debate by exploring why the system is at a crossroads today and what to do about it. Contributors detail the size and nature of the problem, explain views of key "stakeholders" regarding reform options, and report new evidence on how reform might affect the economy. Research findings and public opinion polls are analyzed, as are lessons from other countries experimenting with new ways to deliver old-age benefit promises. No other volume includes as diverse and expert a set of perspectives on reform and privatization as those gathered here from economists, actuaries, employers, investment managers, and representatives of organized labor. Among its chapters is the path-breaking study "Social Security Money's Worth," the 1999 winner of the TIAA-CREF's Paul A. Samuelson Award for Outstanding Scholarly Writing on Lifelong Financial Security.
Author | : Robert Fenge |
Publisher | : MIT Press |
Total Pages | : 311 |
Release | : 2008 |
Genre | : Pension trusts |
ISBN | : 0262062720 |
Demographic realities will soon force developed countries to find ways to pay for longer retirements for more people. In Pension Strategies in Europe and the United States, leading economists analyze topical issues in pension policy, with a focus on raising the retirement age, increasing retirement savings, and the political sustainability of reforms that will accomplish these goals. After a substantive and wide-ranging introduction by the editors that weaves together the demographic and economic strands of the story, the chapters present cutting-edge research, offering both theoretical and empirical analyses. Contributors examine such topics as the reform of key structural features of existing pay-as-you-go (PAYG) pension systems, analyzing how benefits should vary with the age of retirement, labor supply elasticity after France's 1993 pension reform, and fiscal response to a demographic shock; the feasibility of PAYG reforms in the United States and the competition among state pension systems that results from labor mobility in Europe; and private, funded systems (increasingly perceived as necessary adjuncts to PAYG systems) in the UK, the US, and the Netherlands, and in terms of individual portfolio management. The editors conclude the volume with a study of recent German and UK reforms and their effects on personal savings.ContributorsTheodore C. Bergstrom, A. Lans Bovenberg, Antoine Bozio, Woojen Chung, Juan C. Conesa, Gabrielle Demange, Richard Disney, Carl Emmerson, Robert Fenge, Luisa Fuster, Carlos Garriga, Christian Gollier, John L. Hartman, Ayse Imrohoroglu, Selahattin Imrohoroglu, Thijs Knaap, Georges de Ménil, Pierre Pestieau, Eytan Sheshinski, Matthew WakefieldRobert Fenge is Senior Research Fellow at the Ifo Institute for Economic Research and Assistant Professor of Economics at the University of Munich. Georges de Ménil is Professor of Economics at École des Hautes Études en Sciences Sociales (EHESS), Paris. Pierre Pestieau is Professor of Economics at the University of Liège. Fenge and Pestieau are coauthors of Social Security and Early Retirement (MIT Press, 2005).