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Drivers of the Gender Gap in Pensions: Evidence from EU-SILC and the OECD Pension Model

Autor: Banco Mundial
Año: 2019
Resumen: This paper explores trends and drivers behind the gender gap in pensions (GGP) in Europe, focusing on countries with notionally defined contribution (NDC) schemes: Italy, Latvia, Norway, Poland, and Sweden. Based on current gender gaps on the labor market, the paper relates the progressivity of pension systems and the coverage of child care related spells to the GGP. It shows that NDC countries do not stand out as a group compared to other European countries in terms of pension outcomes for women. Nevertheless, NDC countries differ significantly from one another. Choices of indexation of pensions in payment and survivors’ pension options have a strong impact on genderinequalities. Still, labor market differences are the most important driver of the GGP.

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

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Pension Systems in East Africa: A Deep Dive

Autor: Banco Mundial
Año: 2019
Resumen: In this book, the authors share the East African story of pensions with the world. We have tried to give readers a perspective on the state of pensions within the EAC and contribute toward the development of the sector. We have also sought to provide practical advice to the business community that has embraced the opportunity to invest in pensions businesses across the region. We hope this publication will provide a useful guide not only to the history, but to the future of our pension systems. With well-thought through policies and robust implementation, we believe that East Africa can put in place pension systems fit for the 21st century and beyond. In so doing, the region can provide leadership and lessons for the rest of the world.

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

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Pension Funds with Automatic Enrollment Schemes: Lessons for Emerging Economies

Autor: Rudolph, Heinz P
Año: 2019
Resumen: Since the introduction of the KiwiSaver scheme in New Zealand in 2006, several countries have implemented, or are in the process of implementing, voluntary funded pension systems with automatic enrollment features. Since most of the literature has focused on countries with the common law tradition, including the United Kingdom and the United States, this note analyzes cases of countries with the civil code tradition, including Turkey, Poland, the Russian Federation, Chile, Brazil, and the Province of Quebec in Canada. This sample includes mostly emerging economies, with reforms at different stages, from those that have already been completed to those that are about to start discussions in their parliaments. Although they are not a substitute for necessary parametric reforms, automatic enrollment schemes offer the possibility of improvements in future retirement income for a significant part of the labor force. This note stresses that the paternalistic approach of automatic enrollment schemes imposes a great degree of responsibility on governments and requires careful consideration of the design of the system, including the industrial organization of the pension fund industry and default investment strategies. Sufficient time and resources for preparing communication and educational campaigns has played a key role in achieving high rates of participation.

Fuente: Banco Mundial
Clasificación: Fondos de Inversión
Tipo de Publicación: Informes
Idioma:

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Pensions in a Globalizing World: How Do (N)DC and (N)DB Schemes Fare and Compare on Portability and Taxation?

Autor: Genser, Bernd; Holzmann, Robert
Año: 2019
Resumen: Pensions and broader forms of retirement income do not stop at national borders. As part of globalization, individuals increasingly spend part of their working or retirement life abroad but want to keep or move their acquired rights, accumulated retirement assets, or benefits in payment freely across borders. This raises the issue of the portability and taxation of cross-border pensions in accumulation and disbursement. This paper addresses both portability and taxation issues from the angle of which type of pension scheme defined benefits (DB) or defined contributions (DC) is more aligned with globalization in establishing individual fairness, fiscal fairness, and bureaucratic efficiency. The paper shows that DC schemes tend to dominate DB schemes both at the level of portability and taxation.

Fuente: Banco Mundial
Clasificación: Reformas de Pensiones
Tipo de Publicación: Informes
Idioma:

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Developing Coherent Pension Systems: Design Issues for Private Pension Supplements to NDC Schemes

Autor: Price, William
Año: 2019
Resumen: This paper reviews the design of private pensions alongside a notional defined contribution (NDC) – or public – component. A mix of public and private pensions is the bestway to deliver a strong combination of five core outcomes: coverage, adequacy,sustainability, efficiency, and security. Choices for market structure, benefit type,contributions, and investment strategy can be guided by their impact on these outcomes.The clarity of an NDC formula allows the joint distribution of public and private pensions tobe modeled which can be crucial for optimal investment strategies given, for example, thenegative correlation between real per capita gross domestic product growth and equity markets over long periods. NDC payout formulas have broad applications where annuity markets are weak.

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

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