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The Greek Pension Reforms: Crises and NDC Attempts Awaiting Completion

Autor: Nektarios, Milton
Año: 2019
Resumen: Greece’s current pension system relies almost exclusively on the state and remains staunchly pay-as-you-go (PAYG) and defined benefit (DB). This paper offers a radical proposal for change: (i) a new multi-pillar notional and financial defined contribution (NDC and FDC) pension system for all generations first insured after 1993, with contribution rates for primary pensions reduced by 50 percent; and (ii) a transitional system for those first insured before 1993. The proposal’s robustness is tested actuarially for the period up to 2060. Though financing the legacy cost would be challenging, the quantitative exercise indicates that a radical pension reform, especially if implemented as a part of an overall recovery package, could set the country on a more favorable growth trajectory.

Fuente: Banco Mundial
Clasificación: Reformas de Pensiones
Tipo de Publicación: Documentos de Trabajo
Idioma:

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The ABCs of NDCs

Autor: Holzmann, Robert
Año: 2019
Resumen: Nonfinancial defined contribution (NDC) pension schemes have been successfully implemented since the mid-1990s in a number of European countries. The NDC approach features the lifelong contribution–benefit link of a financial defined contribution scheme, but is based on the pay-as-you-go format. An NDC approach implemented by the rulebook can manage the economic and demographic risks inherent to a pension scheme and by design creates financial sustainability. This paper offers a nontechnical introduction to NDC schemes, their basic elements and advantages over nonfinancial defined benefit schemes, the key technical frontiers of the approach, and the experiences of countries with NDC schemes.

Fuente: Banco Mundial
Clasificación: Seguridad Social y Sistemas de Pensiones
Tipo de Publicación: Informes
Idioma:

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Sistema de Pensiones de cara a un mundo cambiante

Autor: Federación Internacional de Administradoras de Fondos de Pensiones (FIAP)
Año: 2019
Resumen: Capítulo i. Las reformas de segunda generación de los sistemas de pensiones. Capítulo ii. La tecnología como aliada para mejorar las pensiones. Capítulo iii. Los cambios estructurales del mercado laboral. Capítulo iv. Incentivos para el desarrollo del ahorro voluntario. Capítulo v. Nuevas tendencias en el mundo de las inversiones.

Fuente: Federación Internacional de Administradoras de Fondos de Pensiones (FIAP)
Clasificación: Seguridad Social y Sistemas de Pensiones
Tipo de Publicación: Libros
Idioma:

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Infrastructure investment: Challenges and opportunities for social security reserve funds

Autor: Watson, Willis Towers; Asociación Internacional de la Seguridad Social (AISS)
Año: 2019
Resumen: Low and negative interest rates, a perceived overvaluation of equity and property assets, and the general difficulty of finding sufficient and appropriate income generating assets has led to an increase in social security reserve fund assets dedicated to infrastructure investment. […] Infrastructure investment is a growing global trend and may well suit social security reserve funds. It also responds to a growing focus on Socially Responsible Investment. The report concludes with an overview of this trend and highlights the types of assets and the geographical spread of recent investment.

Fuente: Asociación Internacional de la Seguridad Social (AISS)
Clasificación: Fondos de Inversión
Tipo de Publicación: Informes
Idioma:

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Income Inequality and Government Transfers in Mexico

Autor: Lambert, Frederic; Park, Hyunmin
Año: 2019
Resumen: We analyze microdata from Mexico's survey on household income and expenditures (ENIGH) to study the evolution of income inequality in Mexico over 2004-16, identify its sources, and investigate how it was affected by government social policy. We find evidence of only a small decline in inequality over this period. The observed decline may be attributed to government transfers, notably targeted cash transfers (Prospera) and noncontributory pensions. In 2016, those two programs accounted for more than two thirds of the reduction in the Gini coefficient due to government transfers. Other transfer programs such as farmland subsidies (Proagro), government scholarships, and non-monetary transfers for medical expenditures have not been as effective.

Fuente: Fondo Monetario Internacional (FMI)
Clasificación: Seguridad Social y Sistemas de Pensiones
Tipo de Publicación: Documentos de Trabajo
Idioma:

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