Over several recent months, the key issue in the discussion on the Strategy of Long-Term Development of the Pension System of the Russian Federation prepared by the RF Ministry of Labor was reform of the funded component of pension. The critics of the mandatory funded component in Russia usually...

Using social security actuarial theory and Shanghai pension data, this paper studies and evaluates quantitatively population importing, postponing retirement age, economic development sustainable development policies from a new prospect. The sensitive analysis results indicate that population...

This paper simulates the future performance of the Spanish pension system using a large OLG model. We compare the system in place after the 2011 pension reform to that emerging after the latest (2013) institutional changes. In particular, we explore the workings of the new indexing mechanism,...

This paper analyzes and compares the macroeconomic performance of defined-benefit and defined-contribution pay-as-you-go pension systems when population ages. When the fertility rate decreases or longevity rises, it is shown that a shift from defined benefit (defined total benefit or defined...

The structure of the Polish pension insurance system, despite many reforms carried out in recent years, is still mainly based on the pay-as-you-go (repartition) pillar. To make it work properly, a constant inflow of participants who will pay contributions, thanks to which it will be possible to...

The 2008 Global Crisis and demographic trends in Indonesia, Malaysia, and Singapore has increased the urgency of reforming their pension systems for enhancing financial, fiscal, and economic sustainability over a long period, and mitigating possible adverse economic impacts. As national and...

With the introduction of the state subsidized private retirement provision, the implementation of the sustainability factor and the increase of the statutory retirement age comprehensive pension reforms have been adopted in Germany in recent years. In this article we outline the insufficiency of...

The paper provides a framework for the conceptualization, definition and estimation of legacy costs that need to be addressed in a reform that transforms an unfunded defined contribution (NDB) scheme into a notional (or non-financial) defined contribution (NDC) scheme. As the new contribution...

Die Öffentlichkeit unterliegt drei Irrtümern in Hinblick auf die gesetzliche Rente: Es wird behauptet, dass die Rente mit 67 rentenkürzend wirkt, dass die Renten im Osten Deutschlands geringer sind als im Westen, und dass eine Ausweitung der Beitragsbemessungsgrenze die Finanzierungsprobleme...

This paper estimates the fiscal burden of the Pay-As-You-Go (PAYGO) civil service pension systems that were closed in 2008 to new members in North Cyprus. At that time, a new pension system was introduced for the newly hired government employees and new private sector workers. Estimates are made...