Reforming The Greek Pension System

Author : Mr. Alvar Kangur
Publisher : International Monetary Fund
ISBN 13 : 1513588842
Total Pages : 26 pages
Book Rating : 4.41/5 ( download)

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Download or read book Reforming the Greek Pension System written by Mr. Alvar Kangur and published by International Monetary Fund. This book was released on 2021-07-16 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Greek pension system has been costly, complex, and distortive, which has contributed to Greece’s fiscal problems and discouraged labor force participation. Several attempts to reform the system faltered due to lack of implementation, pushback by vested interests, and court rulings leading to reversals. A series of reforms introduced throughout 2015–17 unified benefit and contribution rules, removed several distortions and reduced fragmentation and costs. If fully implemented throughout the long-term, these reforms can go a long way towards enhancing the pension system affordability. However, reforms faced setbacks and fell short of creating stronger incentives to build long contribution histories, to deliver sustainable growth by improving the fiscal policy mix, and to ensure fairness and equitable burden sharing across generations and interest groups. Policy priorities should aim towards fully implementing the 2015–17 reforms and complementing them with additional reforms to address these remaining objectives.

Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1451816162
Total Pages : 30 pages
Book Rating : 4.67/5 ( download)

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Download or read book Greece written by International Monetary Fund and published by International Monetary Fund. This book was released on 2002-03-15 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issue paper provides an overview of the public pension system in Greece, and of prospective pension-related spending pressures. The paper reviews the structure of Greece’s pension system and compares some basic parameters of the Greek pension system with those of other European Union economies. It provides an overview of demographic projections for Greece in an international context. The paper also examines the sensitivity of the expenditure projections to variations in demographic and macroeconomic assumptions, including those relating to the rate of productivity growth.

Author : Einar Overbye
Publisher : Routledge
ISBN 13 : 1351151789
Total Pages : 325 pages
Book Rating : 4.88/5 ( download)

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Download or read book Pensions: Challenges and Reforms written by Einar Overbye and published by Routledge. This book was released on 2017-11-28 with total page 325 pages. Available in PDF, EPUB and Kindle. Book excerpt: Throughout the developed world, public and private pension schemes face major challenges that are creating irresistible pressures for reform. Major structural changes in Latin America and in Central and Eastern Europe have led to particularly fierce pressure. Two member states of the European Union - Italy and Sweden - have introduced radical reform of their public pensions systems; controversial pension reforms have been proposed in France and Germany; and the British government has been widely criticized over its pension reforms and its 2002 white paper. This exceptional volume examines the challenges faced by pension schemes in the advanced economies and the reforms that have been introduced to tackle these challenges. A team of international contributors provides an up-to-date, invaluable analysis of different aspects of pension problems, prospects and reforms. The book incorporates cross-national chapters as well as a focus on individual countries including Belgium, Brazil, Colombia, Finland, Greece, Italy, Sweden, the UK and the USA.

Author : Stephen J. Kay
Publisher : OUP Oxford
ISBN 13 : 0191527696
Total Pages : 448 pages
Book Rating : 4.92/5 ( download)

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Download or read book Lessons from Pension Reform in the Americas written by Stephen J. Kay and published by OUP Oxford. This book was released on 2007-11-22 with total page 448 pages. Available in PDF, EPUB and Kindle. Book excerpt: Latin American experiments with pension reform began when Chile converted its public pay-as-you-go system to a system of private individual accounts in the early 1980s. Several other Latin American countries then followed suit, inspired both by Chile's reforms and by World Bank recommendations stressing compulsory government-mandated individual saving accounts. Individual accounts were subsequently introduced in a number of countries in Europe and Asia. Many are now re-evaluating these privatisations in an effort to 'reform the reform' to make these systems more efficient and equitable. This volume is the first to assess pension reforms in this new 'post-privatization' era. After a discussion on demographic trends in the foreword by Nobel laureate Robert W. Fogel, Section 1 of the book includes chapters on the role of pension system default options, the impact of gender, and a discussion of the World Bank's policies on pension reform. The chapter on the evidence from Chile's new social protection survey points to key lessons from the world's first privatization. Section 2 offers in-depth analysis of several significant reform initiatives in the hemisphere, and includes chapters on the United States, Canada, Mexico, Costa Rica, Brazil, Peru, Uruguay and Argentina. The volume provides an unparalleled account of the lessons from pension reform in the Americas, addressing the most pressing policy issues and highlighting a broad range of country experiences.

Author : Martin Neil Baily
Publisher : Peterson Institute
ISBN 13 : 0881325635
Total Pages : 534 pages
Book Rating : 4.38/5 ( download)

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Download or read book US Pension Reform written by Martin Neil Baily and published by Peterson Institute. This book was released on 2009 with total page 534 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1451842759
Total Pages : 41 pages
Book Rating : 4.53/5 ( download)

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Download or read book Pension Reform in the Baltics, Russia, and other Countries of the Former Soviet Union (BRO) written by International Monetary Fund and published by International Monetary Fund. This book was released on 1998-02-01 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite their increasing fiscal burden, the public pension systems of BRO countries are failing to provide adequate social protection. Although there is a broad consensus about the need for pension reforms, BRO countries are debating whether to embark on systemic reforms or whether to correct the distortions in their pay-as-you-go (PAYG) pension systems. The paper reviews the measures taken by BRO countries during the transition period to address their pension problems and examines the options for further reform. It makes a strong case for a gradual reform approach aimed at establishing a multi-pillar system over the long run, but initially focused on implementation of “high-quality” reforms of the PAYG system.

Author : William G. Gale
Publisher :
ISBN 13 : 9780815731177
Total Pages : 0 pages
Book Rating : 4.75/5 ( download)

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Download or read book The Evolving Pension System written by William G. Gale and published by . This book was released on 2005 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Labor Day 1999 marked the 25th anniversary of the passage of the Employee Retirement Income Security Act (ERISA), the act that brought about sweeping reforms of the private-pension system. This volume examines the foundations and the future of the private-pension system.

Author : Nicholas Barr
Publisher : Oxford University Press
ISBN 13 : 9780199741977
Total Pages : 264 pages
Book Rating : 4.72/5 ( download)

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Download or read book Reforming Pensions written by Nicholas Barr and published by Oxford University Press. This book was released on 2009-11-30 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mandatory pensions are a worldwide phenomenon. However, with fixed contribution rates, monthly benefits, and retirement ages, pension systems are not consistent with three long-run trends: declining mortality, declining fertility, and earlier retirement. Many systems need reform. This book gives an extensive nontechnical explanation of the economics of pension design. The theoretical arguments have three elements: * Pension systems have multiple objectives--consumption smoothing, insurance, poverty relief, and redistribution. Good policy needs to bear them all in mind. * Good analysis should be framed in a second-best context-- simple economic models are a bad guide to policy design in a world with imperfect information and decision-making, incomplete markets and taxation. * Any choice of pension system has risk-sharing and distributional consequences, which the book recognizes explicitly. Barr and Diamond's analysis includes labor markets, capital markets, risk sharing, and gender and family, with comparison of PAYG and funded systems, recognizing that the suitable level of funding differs by country. Alongside the economic principles of good design, policy must also take account of a country's capacity to implement the system. Thus the theoretical analysis is complemented by discussion of implementation, and of experiences, both good and bad, in many countries, with particular attention to Chile and China.

Author : Paul Mylonas
Publisher :
ISBN 13 :
Total Pages : 72 pages
Book Rating : 4.02/5 ( download)

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Download or read book The Problems and Prospects Faced by Pay-as-you-go Pension Systems written by Paul Mylonas and published by . This book was released on 1999 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : K. Hujo
Publisher : Springer
ISBN 13 : 1137396113
Total Pages : 211 pages
Book Rating : 4.12/5 ( download)

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Download or read book Reforming Pensions in Developing and Transition Countries written by K. Hujo and published by Springer. This book was released on 2014-08-22 with total page 211 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book moves beyond technical studies of pension systems by addressing the political economy of pension reform in different contexts. It provides insights into key issues related to pension policy and its developmental implications, drawing on selected country studies in Africa, Asia, Eastern Europe, the Middle East, and Latin America.