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World Social Protection Report 2024-26: Universal social protection for climate action and a just transition

Autor: Organización Internacional del Trabajo (OIT)
Año: 2024
Resumen: The World Social Protection Report 202426 focuses on the climate crisis and the need to transition to a more sustainable world, and provides a global overview of progress made around the world since 2015 in extending social protection. The report identifies protection gaps and sets out key policy recommendations, including those for achieving the targets of the 2030 Agenda for Sustainable Development. For the first time, new trend data indicates that more than half of the world’s population are covered by social protection. But this welcome progress is dampened by the fact that 3.8 billion people are still entirely unprotected from life’s challenges and the impacts of climate change. Universal social protection systems have an important role to play in responding to the climate crisis and can help realise climate ambitions while facilitating a just transition to more sustainable societies. Greater investment in and expansion of social protection systems would support general climate mitigation and adaptation efforts and garner public support for climate policies. The report calls on policymakers, social partners and other stakeholders to accelerate their efforts to simultaneously close protection gaps and realize climate ambitions.

Fuente: Organización Internacional del Trabajo (OIT)
Clasificación: Seguridad Social y Sistemas de Pensiones
Tipo de Publicación: Informes
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Parametric Pension Reform Options in Korea

Autor: Baksa, Daniel; Bonthuis, Boele; Guo, Si; Munkacsi, Zsuzsa
Año: 2024
Resumen: Population aging in Korea will pose substantial challenges to the financial sustainability of its public pension system. Under current policies and plausible assumptions, public pension spending can increase by as much as 4 percent of GDP during 2020-70, while contribution revenue will largely stay constant. This expected rise in public pension spending mainly reflects the increase in the old-age dependency ratio (and therefore the number of pension recipients), the deceleration in GDP growth in response to demographic changes, and, to a lesser extent, the maturing of the National Pension Scheme. Three pension policies are considered to stabilize the public debt- to-GDP ratio: a retirement age increase, higher social security contributions, and a lower pension replacement rate, and a combination of all three. The adjustments need to be large to stabilize the debt-to-GDP ratio if each policy lever is used in isolation. A combination of smaller adjustments of multiple parameters yields better results.

Fuente: Fondo Monetario Internacional (FMI)
Clasificación: Reformas de Pensiones
Tipo de Publicación: Documentos de Trabajo
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Kingdom of the Netherlands-The Netherlands: Financial Sector Assessment Program- Technical Note on Insurance and Pension Fund Regulation and Supervision

Autor: Fondo Monetario Internacional (FMI)
Año: 2024
Resumen: This paper highlights a technical note on insurance and pension fund regulation and supervision in The Netherlands. The Dutch insurance sector is undergoing further consolidation, the life sector has been steadily shrinking over the last two decades, and the non-life market is relatively saturated. Investment exposures to real estate are increasing, and Dutch insurers are large providers of mortgage loans. Solvency ratios of Dutch insurers are well above the regulatory threshold, but below the EU average and furthermore distorted by the mechanics of the ‘Long-Term Guarantee Measures’ in Solvency II. The Dutch pension system—considered to be among the best according to international comparisons—rests on three pillars. Most pension schemes are defined-benefit pensions, which have come under pressure since 2008, when low interest rates resulted in declining funding ratio and led to an overall loss in confidence in the system. The Dutch system for independent state agencies, including De Nederlandsche Bank and Autoriteit Financiële Markten, carefully balances powers and accountability. Supervision of insurers and pension funds is effective in the Netherlands.

Fuente: Fondo Monetario Internacional (FMI)
Clasificación: Seguro
Tipo de Publicación: Notas de Pensiones
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Stepping Up Venture Capital to Finance Innovation in Europe

Autor: Arnold, Nathaniel; Claveres, Guillaume; Frie, Jan
Año: 2024
Resumen: Relative to the US, productivity growth and investment in R&D in lagging in the EU, where it is more difficult to finance and scale up promising, innovative startups. Many of the most successful EU startups move elsewhere for financing, causing the EU to lose out on both the direct growth benefits and positive spillovers from these innovative firms. The EU could nurture innovative startups by accelerating the development of its venture capital (VC) ecosystem. Reducing regulatory frictions, especially ones that deter pensions funds and insurers from investing in VC, combined with well-designed tax incentives for R&D investments could help accelerate the development of the VC sector. These and other key CMU initiatives, such as the consolidation of stock markets and reforming and harmonizing insolvency regimes, will take time. Given the urgency to boost innovation, giving public financial institutions like the European Investment Fund a more active and expanded role in kickstarting VC markets where needed and in familiarizing investors with the VC asset class can be a helpful interim step.

Fuente: Fondo Monetario Internacional (FMI)
Clasificación: Fondos de Inversión
Tipo de Publicación: Documentos de Trabajo
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Navigating Minefields and Headwinds: National Security, Demographic Shifts, Climate Change and Fiscal Policy in Lithuania

Autor: Cevik, Serhan
Año: 2024
Resumen: Lithuania’s immediate fiscal challenges are national security and higher costs of borrowing, but fiscal prospects are further exacerbated by long-term pressures stemming from climate change and a shrinking and aging population. The country has experienced a rapidly decreasing population—from 3.7 million in 1991 to 2.8 million in 2023—and its old-age dependency ratio is consequently expected to increase from 33 percent in 2023 to 53.4 percent by 2050. The resulting long-term spending pressures are projected to amount to as much as 11.2 percent of GDP, which is about 30 percent of the current level of spending. Debt sustainability concerns would not allow financing additional spending with more debt. Hence, a comprehensive strategy will help address these long-term fiscal challenges, including tax policy changes to raise additional revenue while primarily reducing expenditure needs through pension and healthcare reforms.

Fuente: Fondo Monetario Internacional (FMI)
Clasificación: Demografía
Tipo de Publicación: Documentos de Trabajo
Idioma:

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