Format:
1 online resource (414 pages)
ISBN:
9780821375594
,
9780821375587
Series Statement:
Directions in Development
Content:
Around the world, pension reform remains at the center of public debate. Its social, fiscal, and macroeconomic implications confront policy makers, practitioners, and academia with challenging questions. Pension systems in aging societies-in need of reform and further stressed by the pressures of globalization-require parallel reforms of the labor market and effective lifelong learning, not only to promote working longer, but to ensure that people can actually do so. At the same time, the working population should be motivated to contribute to pension schemes and prepare for old age. Diversifying the spectrum of risks in a multipillar pension scheme with mandated and voluntary, funded and unfunded, pillars should allow more flexibility in individual retirement decisions and help address reduced public generosity. But diversifying risk on a major scale requires a well developed financial market and calls for reform. At the initiative of the Center of Excellence in Finance (CEF), a conference "International Forum on Pension Reform: Exploring the Link to Labor and Financial Market Reforms" was held in Slovenia, June 7-9, 2007. High officials from ministries of finance, labor, social affairs, and central banks presented their country statements on pension, labor, and financial sector reforms. Invited experts explored various reform needs of pension systems and of labor and financial markets. Pension Reform in Southeastern Europe, gathers that important discourse in one place.Many papers in this collection have been updated since the conference and a few new ones have been included. These proceedings should be helpful to policy makers in Southeastern Europe and other parts of the world who are planning pension system, labor, and financial market reforms in their countries.
Content:
Contents -- Preface -- About the Editors -- Abbreviations -- PART I Setting the Stage -- Chapter 1 Fiscal Implications of Population Aging -- Chapter 2 Linking Pension Reform to Labor and Financial Market Reforms: An Introduction -- Population Aging and Fiscal Implications for Pension Schemes -- Drivers for Pension Reform and Reform Options -- International Reform Trends and Lessons -- Labor Market Reforms -- Financial Sector Reforms -- Conclusion -- Notes -- References -- Chapter 3 New Social Risks, the Life Course, and Social Policy -- Trends -- Challenges -- A Life-Course Perspective -- Policy Recommendations -- Conclusions -- Note -- References -- PART II Aligning and Linking the Reforms -- Chapter 4 An Overview of Pension, Labor Market, and Financial Market Reforms in Southeastern Europe -- Responses to the Pressures -- Conclusions -- Note -- References -- Chapter 5 European Pension Reforms -- The Pension Challenge and Europe's Open Method of Coordination -- Changes in the Labor Market and Projected Impacts of Reforms on Adequacy and Sustainability -- Risks of Divergence between Member States, Genders, and Qualification Levels -- New Reform Issues -- Conclusion -- Notes -- References -- Chapter 6 The Slovenian Pension System in the Context of Upcoming Demographic Developments -- Developments in the Slovenian Pension System -- Results of the Simulations -- Conclusion -- Notes -- References -- Chapter 7 Decreased Employment and Pensions: The Case of Hungary -- Exodus to Retirement -- Pension Reform 1998 -- Pension Promises until 2020 -- Policy Conclusions -- Notes -- References -- Chapter 8 Live Longer, Work Longer: Making It Happen in the Labor Market -- What Are the Growth and Welfare Implications of Population Aging, and What Can Be Done about Them? -- Why Is It Difficult to Extend Working Lives?.
Note:
Description based on publisher supplied metadata and other sources
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Contents; Preface; About the Editors; Abbreviations; PART I Setting the Stage; Figure 2.1 Old-Age Dependency Ratios in Selected World Regions, 2000 and Projected to 2050; Figure 2.2 Increase in Number of Pension Systems with Second Pillars, 1960-2009; Figure 2.3 Implicit Tax on Remaining at Work; Figure 2.4 Ratio of Savers to Dissavers by Region, 1950-2050; Figure 2.5 Financial Sector Readiness Indicator Scores in Year of Reform and Five Years Later (or in 2006), Selected Countries; PART II Aligning and Linking the Reforms; Table 4.1 Pension Reform in Southeastern European Countries
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Figure 4.1 Male and Female Retirement Ages in CEF CountriesFigure 4.2 Loss of Contributors as a Result of Low Coverage, CEF Countries; Figure 5.1 Activity Rates in the European Union, by Gender, 1970 and 2000; Figure 5.2 Cohort Comparison in the European Union, by Gender, 1981, 1986, and 1991; Box 5.1 Key Reforms of Statutory Schemes; Figure 5.3 Employment Rates of Older Workers, European Union in 2005 and Evolution since 2000; Figure 5.4 Share of Part-Time Employment in Employment of Age Group 55-64, European Union, 1995-2006
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Figure 5.5 Reasons for Leaving Last Job or Business for Workers Age 55-64, European Union, 1995-2006Figure 5.6 Dispersion of Employment Rates, Ages 55-64 and 25-54, European Union, 1983-2006; Figure 5.7 Employment Rates by Gender, Age 55-64, European Union, 1992-2006; Figure 5.8 Employment Rates for Men Age 55-64, by Skill Level, European Union, 2000 and 2006; Figure 5.9 Trends in Replacement Rates: Effect of Enacted Reforms at a Given Retirement Age, 2005 and 2050; Figure 5.10 Trends in Pension Expenditures, European Union (EU25), 2005-50
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Figure 5.11 Projected Evolution of Theoretical Replacement Rates (TRRs) and Pension Expenditures for Public Pension Schemes, European UnionFigure 5.12 Change in (Synthetic) Replacement Rate and Decline in Employment Rates between Ages 55-59 and 60-64, Selected European Union Countries, 2006; Figure 6.1 Welfare Effects in Slovenia for Different Sources of Pension System Financing (Retirement Age 60 and Full Indexation), 1925-2055; Figure 6.2 Supplementary Pension Savings Required in Order to Keep the Total Pension at the Given Level (Retirement Age 60 and Full Indexation), Slovenia, 1960-2050
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Figure 6.3 Expected Change in the Supplementary Pension Savings Required in Order to Keep the Total Pension at the Given Level with Retirement Age Increased to 65 and Unchanged Indexation of Pensions,Table 6.1 Estimates of Total Balance of the State Pension Fund Using Different Assumptions about Retirement Age and Indexation Level of Pensions, 2010-50; Figure 6.4 Expected Change in the Deficit of the Slovenian State Pension Fund with a Mandatory Second Pillar, Keeping the Total Pension at the 2000 Level (Retirement Age 60 and Full Indexation), 2005-
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Figure 7.1 Cross-Sectional Employment Ratios, Population Age 25-64, Hungary, 1970-2005
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Setting the stage. Fiscal implications of population aging / Andrej Bajuk ; Linking pension reform to labor and financial market reforms : an introduction / Robert Holzmann ; New social risks, the life course and social policy / A. Lans BovenbergAligning and linking the reforms. An overview of pension, labor market and financial market reforms in Southeastern Europe / Dušan Kidrič ; European pension reforms / Olivier Bontout and Georg Fischer ; The Slovenian pension system in the context of upcoming demographic developments / Boris Majcen and Miroslav Verbič ; Decreased employment and pensions : the case of Hungary / Maria Augusztinovics and Janos Köllő ; Live longer, work longer : making it happen in the labor market / Milan Vodopivec and Primož Dolenc ; Preparing the labor market for an aging population : designing public policy to increase labor force participation / Gary Burtless ; Retirement reform in a mature welfare state : the Danish experience / Lars Haagen Pedersen ; The pension system and employment of older workers : how to change the incentive structure : the Polish experience / Agnieszka Chlon-Dominczak ; Turning boomers into boomerangs : policies and preferences with regard to the employment of older workers in the Netherlands / Ernst B.K. van Koesveld ; Pension reform and financial markets : encouraging household savings for retirement / Anita Tuladhar ; Contemporary issues and challenges in a supplementary pension system : the case of Slovenia / Aleš S. Berk ; Designing a regulatory framework for pension reform and development of financial markets : the Estonian experience / Tõnu Lillelaid, Veiko Tali and Thomas Auväärt ; Linking pension reform and financial market development : the experience of Latin America / Augusto Iglesias P. ; Preparing the financial market for an aging population : the case of the FYR Macedonia / Zorica Apostolska -- Panels and country statements. Guidance notes for the policy panels / Robert Holzmann ; Pension reform : broad context and perspective / Gonzalo C. Caprirolo ; Aging populations and the scope for adjustment in the Slovenian labor market / Alenka Kajzer ; Reforming the Slovenian pension system : some guidelines and intergenerational distribution issues / Jan K. Grobovšek and Damjan Kozamernik ; Statement of the Ministry of Labor and Social Welfare, Federation of Bosnia and Herzegovina / Zehra Novo-Omanovič ; Statement of the Ministry of Finance, Republic of Srpska / Snježana Rudič ; Statement of the Ministry of Labor and Social Policy, Bulgaria / Goran Bankov ; Statement of the Ministry of Finance, Croatia / Ivana Maletič ; Statement of the National Bank, FYR Macedonia / Dimitar Bogov ; Statement of the Ministry of Finance, Moldova / Oleg Hirbu ; Statement of the Central Bank, Montenegro / Nikola Fabris ; Statement of the Ministry of Labor, Montenegro / Mileva Todorovič ; Statement of the Ministry of Finance, Romania / Steluta Nedelcu ; Statement of the Ministry of Finance, Serbia / Marko Lisica and Vladimir Malbašić ; Statement of the Ministry of Finance, Slovenia / Andrej Šircelj ; Statement of the Ministry of Labor, Slovenia / Romana Tomc.
Additional Edition:
ISBN 9780821375587
Additional Edition:
Erscheint auch als Druck-Ausgabe ISBN 9780821375587
Language:
English
Keywords:
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