The Challenge of Public Pension Reform in Advanced and Emerging Economies
Mr. Benedict J. Clements, David Coady, Frank Eich, Mr. Sanjeev Gupta, Mr. Alvar Kangur, Baoping Shang, Mauricio Soto
International Monetary Fund, Jan 25, 2013 - Business & Economics - 86 pages
Pension reform is high on the policy agenda of many advanced and emerging market economies. In advanced economies the challenge is generally to contain future increases in public pension spending as the population ages. In emerging market economies, the challenges are often different. Where pension coverage is extensive, the issues are similar to those in advanced economies. Where pension coverage is low, the key challenge will be to expand coverage in a fiscally sustainable manner. This volume examines the outlook for public pension spending over the coming decades and the options for reform in 52 advanced and emerging market economies.
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Numerous Risks to the Projections
Considerations for Pension Reform
Pension Reform Options
Summary of Issues and Policy Recommendations
Disability Pensions Design and Reform Options
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advanced and emerging advanced economies age-related spending Australia Austria Chile Co-operation and Development country abbreviations Czech Republic defined benefit defined contribution demographic disability pensions early retirement Economic Co-operation eligibility ratios emerging economies emerging Europe emerging market economies employment Estonia European Commission Eurostat example expectancy at age Figure finances Finland fiscal consolidation funded Germany Greece growth Hungary IMF staff estimates impact incentives increasing the retirement International Labour Organization Ireland Italy Japan Korea labor force participation Latvia mandatory private pensions Netherlands OECD old-age dependency ratio Organisation for Economic payroll tax pension coverage pension reform percent of GDP percentage points point of GDP Poland Policy population 65 population aging Portugal projected increases Public Pension Expenditures public pension spending public pension systems reﬂect reform options relatively replacement rates risks share of GDP Slovak Republic Slovenia social pensions Social Security Sources Spain statutory retirement age Sweden Switzerland Ukraine United Kingdom United Nations Zealand