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This report, the full PER, aims to undertake a detailed analysis of the recent trends in publicexpenditures and revenue with a view to helping Mongolia's policy makers and opinion leaders identify the main priorities for a successful implementation of its ongoing recovery program. It also intends to strengthen the fiscal foundation of rapid and inclusive growth to help achieve the objectives of the SDV 2030. Furthermore, the PER also reviews the spending needs of key sectors such as health and education, which play an essential role in the long-term development of the country and the fight against poverty.

Fiscal Policy --- Mining --- Pension Reform --- Tax Reform

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It is desirable that pension reforms and legislated rules have the backing of thepopulation or at least are accepted by voters. With the objective of achieving-acceptance,'*the Swedish Pensions Agency publishes an annual actuarial balance of the solvency of the whole public pension system and distributes to each participant information on his or her individual accumulated notional balance and funded accounts, movements during the year,and estimates of the projected individual future pension amount. This paper describes the Swedish pension experience in communication with pension participants over the last decade, together with the main changes in information delivered to improve individuals' pension knowledge and help them make more informed, better decisions on work, savings,and retirement.

Pension Reform --- Pensions and Retirement Systems --- Social Protections and Labor

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This report was prepared at the request in mid-2018 of the Secretaries of Finance for the Pakistan Federal Ministry of Finance, the Sindh Ministry of Finance and Punjab Ministry of Finance. Missions visited Pakistan in January and November 2018, the latter which included a week-long training program in the use of the Pensions Reform Options Simulation Toolkit (PROST). Policy discussions were held about reform options in January 2019 during a workshop on South Asia Civil Service Pension system in Bangkok, Thailand. The initial findings of the PROST projections were discussed with key counterparts in Islamabad, Karachi and Lahore in October, 2019. This report evaluates the current civil service pension scheme and suggests options to consider for pension policy and parameter reforms to improve sustainability, equity and predictability. Actuarial projections have been employed for the civil servant schemes for the Federal civil servants, and for civil servants in Punjab and Sindh. We have not modeled the schemes for other provinces, for Autonomous Authorities or for Uniformed Forces. This report is organized as follows: section two reviews the design, parameters and coverage of the civil servant pension schemes in Pakistan; section three evaluates the key challenges presented in these schemes; section four suggests options for parametric and structural reforms; and section five concludes.

Pension Reform --- Pensions and Retirement Systems --- Social Protections and Labor

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Latvia introduced a nonfinancial defined contribution (NDC) scheme in 1996 as it transitioned to a market economy. Despite a 20 percent decline in the working-age population from 1994-2016, the ratio of contributors to old-age pensioners rose from 1.6 to 2.1 given a steady increase in formal labor force participation and 5-6 percent real per capita wage growth. Projections show that long-term financial balance will be maintained through 2070, despite the threat of a projected 50 percent decline in the working-age population. Budgeted reserves will cushion the continued transition into a two-pillar public pension scheme. Latvia's most important long-term policy challenge is to create the domestic investments and economic growth to reward younger workers for remaining in the country.

Pension Reform --- Pensions and Retirement Systems --- Social Protections and Labor

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This report evaluates the adequacy and sustainability of the Mongolian pension insurance scheme. It analyzes recent changes to pension parameters including amendments enacted in 2017 and early 2018. The report uses actuarial projections to assess the impact of changes, including the contribution rate and retirement age, on the fiscal costs of state subsidies to the scheme. The report finds that 2017-2018 changes including a discounted service buyback, reduction in herders' retirement ages, and several supplements to service histories for herders and mothers will materially impact the sustainability and incentives of the scheme. It recommends several changes in parameters to limit the growth in fiscal costs and improve incentives. It also presents transition arrangements to smooth the impact of the reforms presented.

Life Expectancy --- Pension Reform --- Pensions and Retirement Systems --- Social Protections and Assistance --- Social Protections and Labor