Format:
1 online resource (332 pages)
ISBN:
9780821377802
Series Statement:
Directions in development. Finance
Content:
The former transition countries of Central, Eastern, and Southern Europe (CESE) inherited defined benefit public pension systems financed on a pay-as-you-go basis. Under central planning, these systems exhibited fiscal strains which worsened during the early years of the transition and became unsustainable under a market economy and projected population aging. All CESE countries introduced reforms that varied but typically focused on issues of sustainability rather than benefit adequacy.Nine case studies-Bulgaria, Czech Republic, Croatia, Hungary, Poland, Romania, Slovakia, Slovenia, and Serbia-suggest the following broad policy conclusions: (i) fiscal sustainability has improved in most study countries, but few are fully prepared for the inevitability of population aging; (ii) the linkage between contributions and benefits has been strengthened, and pension system designs are better suited to market conditions; (iii) levels of income replacement are generally adequate for all but some categories of workers (including those with intermittent formal sector employment or low lifetime wages); (iv) further reforms to cope with population aging should focus on extending labor force participation by the elderly to avoid benefit cuts that could undermine adequacy and very high contribution rates that could discourage formal sector employment; and (v) more decisive financial market reforms are needed for funded provisions to deliver on the return expectations of participants.
Content:
Contents -- Preface -- Acknowledgments -- Abbreviations -- Chapter 1 Introduction, Summary, and Policy Conclusions -- Motivation for Reform and Policy Trends -- Characteristics of Reformed Pension Systems -- Assessment of the Performance of Pension Systems -- Conclusions -- Notes -- Bibliography -- Chapter 2 Bulgaria -- Motivation for Reform -- Characteristics of Bulgaria's Pension System -- Assessment of the Performance of Bulgaria's Pension System -- Conclusions -- Notes -- Bibliography -- Chapter 3 Croatia -- Motivation for Reform -- Characteristics of Croatia's Pension System -- Assessment of the Performance of Croatia's Pension System -- Conclusions -- Notes -- Bibliography -- Chapter 4 The Czech Republic -- Motivation for Reform -- Characteristics of the Czech Republic's Pension System -- Assessment of the Performance of the Czech Pension System -- Conclusions -- Notes -- Bibliography -- Chapter 5 Hungary -- Motivation for Reform -- Characteristics of Hungary's Pension System -- Assessment of the Performance of Hungary's Pension System -- Conclusions -- Notes -- Bibliography -- Chapter 6 Poland -- Motivation for Reform -- Characteristics of Poland's Pension System -- Assessment of the Performance of Poland's Pension System -- Conclusions -- Notes -- Bibliography -- Chapter 7 Romania -- Motivation for Reform -- Characteristics of Romania's Pension System -- Assessment of the Performance of Romania's Pension System -- Conclusions -- Notes -- Bibliography -- Chapter 8 The Slovak Republic -- Motivation for Reform -- Characteristics of the Slovak Republic's Pension System -- Assessment of the Performance of the Slovak Pension System -- Conclusions -- Notes -- Bibliography -- Chapter 9 Slovenia -- Motivation for Reform -- Characteristics of Slovenia's Pension System -- Assessment of the Performance of Slovenia's Pension System -- Conclusions.
Note:
Description based on publisher supplied metadata and other sources
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Contents; Preface; Acknowledgments; Abbreviations; Chapter 1 Introduction, Summary, and Policy Conclusions; Figures; Tables; Box; Chapter 2 Bulgaria; Chapter 3 Croatia; Chapter 4 The Czech Republic; Chapter 5 Hungary; Chapter 6 Poland; Chapter 7 Romania; Chapter 8 The Slovak Republic; Chapter 9 Slovenia; Index
Additional Edition:
ISBN 9780821377819
Additional Edition:
Erscheint auch als Druck-Ausgabe ISBN 9780821377819
Language:
English
URL:
Volltext
(lizenzpflichtig)
Author information:
Holzmann, Robert 1949-
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