Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

Canadian public pension plans are run on a "pay-as-you-go" basis. As the baby boom ages, contribution rates for the two main plans are projected to rise significantly, from their current level of around 5 percent of eligible earnings to over 13 percent by 2030. An alternative is to set contribution rates at their underlying long-term levels. Such a policy would imply a significant rise in current contribution rates, to 10-10½ percent of eligible earnings, but would allow the system to cope with the retirement of the baby boom generation without recourse to borrowing or significant increases in contribution rates.

Labor --- Public Finance --- Demography --- Social Security and Public Pensions --- Economics of the Elderly --- Economics of the Handicapped --- Non-labor Market Discrimination --- Nonwage Labor Costs and Benefits --- Private Pensions --- Wages, Compensation, and Labor Costs: General --- Health: General --- Pensions --- Labour --- income economics --- Population & demography --- Health economics --- Wages --- Pension spending --- Aging --- Health --- Expenditure --- Population and demographics --- Population aging --- Canada --- Income economics

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

This paper examines the impacts on welfare, savings, labor supply, and the government budget of several possible reforms of the Polish pension and unemployment benefit systems. The framework of analysis is a life cycle simulation model of household consumption, labor supply and retirement decisions. The paper builds on past work by Perraudin and Pujol (1992). The present study focusses on the length of averaging periods in pension benefit calculations, measures to offset incentives to early retirement, and interactions between pension and unemployment benefit systems.

Labor --- Public Finance --- Nonwage Labor Costs and Benefits --- Private Pensions --- Social Security and Public Pensions --- Retirement --- Retirement Policies --- Wages, Compensation, and Labor Costs: General --- Unemployment: Models, Duration, Incidence, and Job Search --- Unemployment Insurance --- Severance Pay --- Plant Closings --- Pensions --- Labour --- income economics --- Pension spending --- Wages --- Unemployment --- Expenditure --- Poland, Republic of --- Income economics

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

India's planned pension reform will set up a proper regulatory framework for the pension industry and open up the sector to private fund managers. Drawing on international experiences, the paper highlights pre-conditions for the reform to kick-start financial development, including: (i) the buildup of critical mass; (ii) sufficiently flexible investment guidelines and regulations, including on investments abroad; and (iii) concurrent reforms in capital markets. Given the limited scale of the planned reform, the key challenge for India is to achieve sufficient critical mass early on. Options to address this challenge include granting permission for existing workers to switch to the new system or outsourcing all or part of the reserves of private sector provident funds to the new pension fund managers.

Investments: General --- Investments: Bonds --- Labor --- Public Finance --- Social Security and Public Pensions --- General Financial Markets: General (includes Measurement and Data) --- Nonwage Labor Costs and Benefits --- Private Pensions --- Pensions --- Investment & securities --- Pension spending --- Pension reform --- Corporate bonds --- Securities --- Bonds --- Financial instruments --- India --- Capital market --- Monetary policy --- Econometric models.

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

The Chilean pension reform of 1981, in which Chile moved from an unfunded to a funded scheme, is considered to have contributed to this country’s excellent economic performance since the mid-1980s. The paper highlights the theoretical underpinnings of the claimed economic effects and presents empirical data and preliminary econometric testing of the conjectured growth, capital formation, and saving effects. The empirical evidence is consistent with most of the claims. In particular, the direct impact of financial market development on private saving is found to be negative, which underscores the importance of sound fiscal policy and public saving to support the transition.

Capacity --- Capital formation --- Capital --- Expenditure --- Finance --- Finance: General --- Financial Instruments --- Financial Markets and the Macroeconomy --- Financial markets --- Financial sector development --- Financial services industry --- Institutional Investors --- Intangible Capital --- Investment --- Investments: General --- Macroeconomics --- Macroeconomics: Consumption --- National accounts --- Non-bank Financial Institutions --- Pension Funds --- Pension reform --- Pension spending --- Pensions --- Private savings --- Public Finance --- Saving and investment --- Saving --- Social Security and Public Pensions --- Wealth --- Chile

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

Over the coming decades, demographic developments will lead to a significant increase in public outlays on pensions and health care, relative to national income. This study extends earlier work by considering the adverse effects of taxation on the determinants of economic growth -- in particular, investment, productivity growth, and labor force participation. Available empirical evidence suggests that these adverse effects could well be sizable, and that conventional estimates of the adverse effects of population aging probably severely underestimate their impact on the public finances and economic performance. The paper uses stochastic simulations to examine the robustness of the results to changes in parameter values. It also provides quantitative simulations of various reform options, including mainly an increase in the effective retirement age and flanking labor market measures.

Labor --- Public Finance --- Demography --- Nonwage Labor Costs and Benefits --- Private Pensions --- Social Security and Public Pensions --- National Government Expenditures and Related Policies: General --- Economics of the Elderly --- Economics of the Handicapped --- Non-labor Market Discrimination --- National Government Expenditures and Health --- Pensions --- Public finance & taxation --- Population & demography --- Pension spending --- Expenditure --- Aging --- Health care spending --- Population and demographics --- Expenditures, Public --- Population aging --- France