Old-age income support in the 21st century : an international perspective on pension systems and reform / Robert Holzmann and Richard Hinz ; together with Hermann von Gersdorff ... [and others].

Format:

Book

Author/Creator:

Holzmann, Robert.

Contributor:

Hinz, Richard P.

Language:

English

Subjects (All):

Old age pensions--Government policy.

Old age pensions.

Aging--Economic aspects--Government policy.

Aging.

Income maintenance programs.

Social security.

Aging--Economic aspects.

Government policy.

Physical Description:

ix, 232 pages : illustrations ; 23 cm

Place of Publication:

Washington, D.C. : World Bank, [2005]

Summary:

This timely series seeks to provide objective information about the new trade agenda and to encourage an informed dialogue about the role of trade in development, particularly for the world's poorest countries.

Contents:

Introduction and Executive Summary 1

A Framework for Pension Reform 2

Design and Implementation Issues 9

Structure of the Report 20

Part 1 Conceptual Underpinnings

1 The Need for Reform 23

Fiscal Pressure: Short-Term Urgencies and Long-Term Needs 23

Delivering on Promises 27

Aligning Systems with Socioeconomic Changes 30

Challenges and Opportunities of Globalization 32

The Contours of Promising Reform Directions 34

2 Conceptual Foundations of the World Bank's Perspective 37

The Social Risk Management Framework 37

Rationale for Public Intervention 39

The Multipillar Approach: Diversification and Efficiency 42

The (Net) Benefits of Funding 44

A Benchmark, Not a Blueprint 53

3 Goals and Criteria That Define the World Bank's Perspective 55

Primary Goals: Adequate, Affordable, Sustainable, and Robust Pensions 55

Secondary Goal: Contribution to Economic Development 57

Reform Criteria 58

4 World Bank Lending to Support Pension Reform 63

Scope of the World Bank's Pension Lending 64

Diversity of Pension Reforms 65

Part 2 Design and Implementation Issues

5 General and Country-Specific Options for the Reform of Pension Systems 73

General Options for Reform 73

Country-Specific Options for Reform: Policy Progression and Path Dependency 84

6 Key Reform Issues: Firm Positions and Open Questions 93

Pillar Design, Poverty Relief, and Redistribution 93

Financial Sustainability Issues 104

Management of Public Pension Funds 106

Administrative and Implementation Issues 114

Readiness and Regulatory and Supervisory Financial Market Issues 127

Political Economy and Organization of Pension Reforms 134

Examples of Reform Dilemmas and Questions 138

7 Regional Experiences: Developments and First Evaluation of Reform 141

Latin America and the Caribbean 141

Central and Eastern Europe and Central Asia 150

South Asia 159

Sub-Saharan Africa 162

Middle East and North Africa 165

East Asia 168

Appendix Tables on Old-Age Income Poverty 173

4.1 Timing of World Bank Loans to Multipillar Schemes, by Number of Loans 69

4.2 Timing of World Bank Loans to Multipillar Schemes, by Amount of Loans 70

6.1 Parallel and Integrated Civil Service Pensions, by Region 103

6.2 Distribution and Importance of Public Pension Funds, by Region 107

6.3 Combined Collection and Clearinghouse 117

6.4 Decentralized Funded Pillar in Chile and Hungary 118

1 Multipillar Pension Taxonomy 10

4.1 World Bank Lending with Pension Components, Fiscal 1984-2004 65

4.2 Regional Distribution of World Bank Lending Activities, 1984-2004 66

4.3 World Bank Pension-Related Lending Classified by Pillar Support, 1984-2004 67

4.4 Proportion of Pension-Related Lending for Second-Pillar Implementation, 1984-2004 68

4.5 World Bank Lending for Reforms with a Dominant Second Pillar, 1984-2004 69

5.1 Multipillar Pension Taxonomy 82

5.2 Stylized Reform Choices for Countries: Matching Reform Needs with Constraints and Opportunities 85

7.1 Principal Features of Structural Reforms to Social Security Systems (Old-Age Disability and Death) in Latin America, 1980s and 1990s 142

7.2 Principal Features of Structural Reforms to Social Security Systems (Old-Age Disability and Death) in Latin America, 1990s and 2000s 144

7.3 Characteristics of Pension Reforms Moving to a Multipillar System in Transition Economies in Europe and Central Asia, as of April 2004 154

A.1 Poverty Gap in Select African Countries, by Type of Household, Various Years 173

A.2 Inventory of Noncontributory Pension Programs in Developing Countries 174

A.3 Money as a Percentage of GDP Required to Eliminate the Poverty Gap in Select African Countries, by Type of Household, Various Years 176

A.4 Cost of Social Pensions (0.70 Percent of the Poverty Threshold) as a Percentage of GDP in Select African Countries, Various Years 177.

Notes:

Includes bibliographical references (pages 195-214) and index.

ISBN:

082136040X

OCLC:

57725097

Publisher Number:

9780821360408