Strengthening Income Support for older Mongolians. N.Oyut-Erdene /Mongolian State University of Education/ Social Security Sector of Mongolia
|
|
- Pierce Houston
- 6 years ago
- Views:
Transcription
1 Strengthening Income Support for older Mongolians N.Oyut-Erdene /Mongolian State University of Education/ Social Security Sector of Mongolia
2 The Mongolian government is aware of Rapid demographic changes The risk of increasing poverty due to the greater vulnerability to poverty of the older population Need for pension system reform Need for social welfare system reform Change in population demographics Source: NSO. Mongolia Population projection
3 Table 1: Increasing importance of Older Population in Mongolia, Source: UNDESA (2009) Average annual rate of increase in total population (%) Average annual rate of increase in older population (%) Increase in older population as % of increase in total population Increase in number of older persons (000) INCREASE IN LIFE EXPECTANCY By sex, at retirement age
4 Income vs Poverty Growth in mining sector brings favorable economic conditions. GDP yearly average growth is 9% Per capita income is increased recent years Poverty rate 36.1% in % in ,9% in 2011 But : Not reaching MDG goal (1): Poverty rate - 18% from 36% ASSURING INCOME SECURITY IN OLD AGE: VIEWS OF THE MONGOLIAN ELDERLY Ghazy Mujahid, Oyut-Erdene Namdaldagva, Oyun Banzragch (2009) Part of the Regional level study on the impact of social pensions by UNFPA APRO (CST-Bangkok) The elderly reported satisfaction receiving social pension even though not adequate for living Their appraisals: do not encounter difficulties in the process ofapplication for pension and receiving, spending on their own, and contributing family income. More than 70 per cent of older people reported getting pension loans (contributory pension recipients). It demonstrated social pension is not sufficient for elderly care, medical treatment, and services. Family found to be supporting factor for older people wellbeing. The elderly who live with their children face fewer difficulties in comparison with those living on the pension only.
5 Contributing factors for poverty in old age Lack of assets Out-migration and unemployment Poor health Lack of access to credit Lack of pension Inflation especially food inflation (44% increase vs 16% non food goods inflation) Recipients of contributory pensions Spend 60 % of their pension on food items 40 per cent on their children or grandchildren, utility charges, and other things including partial payment for their health expenses
6 Contributory Social Insurance system Administered by State Social Insurance General Office of Mongolia Contributory pension system aimed at ensuring social well-being of the aged workers and provides retirement cash payments, disability pensions, widow benefits, temporary disability pensions and funeral benefits to the insured. Mongolia s pension system Prior State provision of pension 2 Contributory pension system by employer & worker 3 Notional Defined Contribution scheme Old system PAY AS YOU GO SYSTEM Partial funding
7 Social insurance contribution rate According to Social Insurance Law Insurance type Contribution percent Employer Worker Voluntary contribution Pension insurance Social assistance ins Accidental injury, hazardous work insurance Unemployment insurance 1.0, 2.0, Health insurance ТOTAL 11.0, 12.0, OlD AGE PENSION PARAMETERS Legal basis Minimum pension Vesting requirement Defined benefit pension scheme (before 1960 cohorts) Old age insurance Law on Social Insurance, Law on Pensions and Benefits by SI Fund (1995 ) 75% of minimum wage Notional Defined contribution scheme (after 1960 cohorts) Law on Individual Pension Insurance Contribution Accounts (1999) 20% of national average wage + 0,5% of average wage additional yrs 20 years 15 years Age eligibility Man 60, woman 55 Man 60, woman 55 Indexation Number of pensioners Ad hoc Pension adjustment index due inflation rate 218,7 thousand Start receiving in 2015
8 Social Pension System Administered by General Office of Social Welfare Services of Mongolia Non-contributory pension does not depend on any past contributions, Non-contributory pensions are either universal or means-tested. A universal pension is based on age and paid to all older persons reaching that age. A means-tested pension is given to those who meet a certain criterion, mostly income level and sometimes family status or health condition. Social pension Social welfare pension is a monthly cash payment from the Pension Scheme of the Social Welfare Fund allocated for those older people who are not entitled to receive a contributory retirement pension under the Law on Social Insurance. It is paid to those who are extremely poor and do not have any children and/or relatives to care for them, and whose legal guardian or caregiver is an older person or a person with disability.
9 Income support through employment Administered by Labor Exchange Office of Mongolia under the Ministry of Labor Training and Employment program for older workers Organization of public work National Networking of Retired professionals Grant program Social Welfare Reform From categorical programs to more targeted More efficient services From universal to well defined needy population Community based services Increased role of Livelihood Support Council in each local community
10 PENSION POLICY REFORM Goals set in agenda of the Mongolian government: To ensure social protection of older people by introducing multiple tier pension system Proposed agenda by the Mongolian government during the term Тo redesign policy frameworks for pension reform making a phased transition from the current distributive system to partial funded system To improve legal basis of introducing multiple tier pension system by revising social insurance regulations. To establish pension insurance fund and programs to attract herders, private enterpreneurs, and informal sector workers. To take steps to build legal environment toward establishing Pension reserve fund
11 PENSION INSURANCE FUND INCOME, EXPENSES, NUMBER OF PENSIONERS Pension insurance fund income /trillion.mnt/ Total income % Employer % Insurer % Gov Subsidy % Pension insurance fund expenditure /trillion MNT/ Total expenditure % Old Age % Dependents pension % Disability % Army personnel % Number of retirees receiving pension /OOO person/ Total number % Old age % Disability % Dependents pension % Army personnel % Problems in the current pension system Minimum pension provisions create weak incentives for wage reporting and contribute to the long run deficit of about 3 percent of GDP Inadequate pension coverage Low credibility Low level of income replacement in retirement Politics involved
12 Problem: Increase in Pension fund deficit Deficit in pension insurance fund, as of percentage in GDP Factors affected: - Contribution rate fell from 19% to 14% - Number of beneficiaries increased - Average years receiving pension increase Source: 2013 PROST projections Problem: Reduction of pension of NDS pension recipients Pension recipient born before 1960 (DB): RR 50%-68% Pension recipient born after 1960 (NDC): RR 30% MAN WOMAN Source: 2013 PROST projections
13 Problem: Inadequate pension coverage Solutions for existing problems 1. Тo gradually increase retirement age (same retirement age for both men and women- 60 y.o) 2. To eliminate early retirement conditions 3. To increase contribution rate (reinstate 19%) 4. To refine indexation and benefit formula 5. To redesign the linkage of minimum pension and minimum wage (to link to minimum subsistence level) 6. To define average wage based on work history rather than chosen 5 consecutive years. 7. To reduce accrual rate and increase vesting age for pension entitlement
14 Reduce coverage gaps involving voluntary occupational and individual pensions savings arrangements To plan to introduce mandatory contribution to herders, self employed, and informal sector workers. Reform approach: Three tier approach to old age income protection I. Targeted social pension II. Mandatory contributory pension III. Supplimental occupational and individual savings arrangements References General Office of Social Welfare Services (2013). Social Welfare Reform training handout. Government of Mongolia (2011). The Millennium Development Goals Implementation, National 4 th report Government of Mongolia & UNDP (2011). Mongolia Human development report. Ghazy Mujahid, Oyut-Erdene Namdaldagva, Oyun Banzragch (2009). Assuring income security in old age: Views of the Mongolian Elderly. Ulaanbaatar World Bank (2008). Mongolia: Pension policy challenges and reform options. July 28, Human Development Unit. East Asia and Pacific Region. World Bank (2012). Mongolia: Policy options for pension reform Report No MN. January 20,2012. Human Development Unit. East Asia and Pacific Region.
AGEING AND DEVELOPMENT: VIEWS OF THE MONGOLIAN ELDERLY. Oyut-Erdene Namdaldagva, MSW Mongolian State University of Education
AGEING AND DEVELOPMENT: VIEWS OF THE MONGOLIAN ELDERLY Oyut-Erdene Namdaldagva, MSW Mongolian State University of Education Overview of Mongolian ageing trend National policy on ageing and development
More informationLatvian Country Fiche on Pension Projections
Latvian Country Fiche on Pension Projections 1. OVERVIEW OF THE PENSION SYSTEM 2 Pension System in Latvia The Notional defined-contribution (NDC) pension scheme is functioning already since 1996, the state
More informationMONGOLIA. ILO/TF/Mongolia/R.4
MONGOLIA ILO/TF/Mongolia/R.4 International Labour Organization Financial assessment of the proposed reform to the social security system for older persons and a proposed new pension scheme for the herders
More informationSELECTED MAJOR SOCIAL SECURITY PENSION REFORMS IN EUROPE, Source: ISSA Databases
SELECTED MAJOR SOCIAL SECURITY PENSION REFORMS IN EUROPE, 1995-2014 Source: ISSA Databases COUNTRY AREA YR SUMMARY OBJECTIVE POSSIBLE EVALUATION CRITERIA* United Kingdom Pensions 2014 Replacing public
More informationUniversal Social Protection
Universal Social Protection The Universal Child Money Programme in Mongolia Mongolia s universal Child Money Programme (CMP) is one of the country s flagship programmes and an essential al part of its
More informationPOLAND 1 MAIN CHARACTERISTICS OF THE PENSIONS SYSTEM
POLAND 1 MAIN CHARACTERISTICS OF THE PENSIONS SYSTEM Poland has introduced significant reforms of its pension system since 1999. The statutory pension system, fully implemented in 1999 consists of two
More informationREPUBLIC OF BULGARIA. Country fiche on pension projections
REPUBLIC OF BULGARIA Country fiche on pension projections Sofia, November 2017 Contents 1 Overview of the pension system... 3 1.1 Description... 3 1.1.1 The public system of mandatory pension insurance
More informationPension Diagnostic Assessment and Conceptual Framework Philippines SPL Course March 9, 2016
Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Pension Diagnostic Assessment and Conceptual Framework Philippines SPL Course March 9, 2016 Mark C. Dorfman Pensions
More informationPORTUGAL 1 MAIN CHARACTERISTICS OF THE PENSIONS SYSTEM
PORTUGAL 1 MAIN CHARACTERISTICS OF THE PENSIONS SYSTEM The statutory regime of the Portuguese pension system consists of a general scheme that is mandatory for all employed and self-employed workers in
More informationREPUBLIC OF BULGARIA. Country fiche on pension projections
REPUBLIC OF BULGARIA Country fiche on pension projections Sofia, November 2014 Contents 1 Overview of the pension system... 3 1.1 Description... 3 1.1.1 The public system of mandatory pension insurance
More informationPension Diagnostic Assessment Pensions Core Course April 27, Mark C. Dorfman Pensions Team SPL Global Practice The World Bank
Pension Diagnostic Assessment Pensions Core Course April 27, 2015 Mark C. Dorfman Pensions Team SPL Global Practice The World Bank Organization I. Pension Diagnostic Assessment A. Evaluation Process &
More informationSTRUCTURAL REFORM REFORMING THE PENSION SYSTEM IN KOREA. Table 1: Speed of Aging in Selected OECD Countries. by Randall S. Jones
STRUCTURAL REFORM REFORMING THE PENSION SYSTEM IN KOREA by Randall S. Jones Korea is in the midst of the most rapid demographic transition of any member country of the Organization for Economic Cooperation
More informationSocial Security Programs Throughout the World: Asia and the Pacific, 2008
Social Security Programs Throughout the World: Asia and the Pacific, 2008 Social Security Administration Office of Retirement and Disability Policy Office of Research, Evaluation, and Statistics 500 E
More informationSocial Protection Strategy of Vietnam, : 2020: New concept and approach. Hanoi, 14 October, 2010
Social Protection Strategy of Vietnam, 2011-2020: 2020: New concept and approach Hanoi, 14 October, 2010 Ministry of Labour,, Invalids and Social Affairs A. Labour Market Indicators 1. Total population,
More informationUruguay. Old Age, Disability, and Survivors. Uruguay. Exchange rate: US$1.00 equals new pesos (NP). Regulatory Framework.
Uruguay Exchange rate: US$1.00 equals 23.85 new pesos (NP). Old Age, Disability, and Survivors First laws: Various laws for specified groups of workers from 1829 to 1954. Current law: 1995 (social insurance
More informationChallenges in Social Inclusion in Serbia
Challenges in Social Inclusion in Serbia Mrs Ljiljana Lucic, Deputy Minister, Ministry of Labor and Social Policy, Government of Serbia Athens, June 2007 Social inclusion is......a process which ensures
More informationIndicators for the 2nd cycle of review and appraisal of RIS/MIPAA (A suggestion from MA:IMI) European Centre Vienna
Indicators for the 2nd cycle of review and appraisal of RIS/MIPAA 2007-2012 (A suggestion from MA:IMI) European Centre Vienna April 2011 The indicators cover four main topics: demography, income and wealth,
More informationPensions Core Course Mark Dorfman The World Bank March 2, 2014
Pensions Diagnostic Assessment and Conceptual Framework Pensions Core Course Mark Dorfman The World Bank March 2, 2014 Organization 1. Diagnostic assessment process 2. Conceptual framework design typology
More informationPension Challenges and Pension Reforms in OECD Countries
Pension Challenges and Pension Reforms in OECD Countries Peter Whiteford Social Policy Division, OECD http://www.oecd.org/els/social Email: Peter.Whiteford@oecd.org 1 Issues and Outline The challenges
More informationCroatia Country fiche on pension projections
REPUBLIC OF CROATIA MINISTRY OF LABOUR AND PENSION SYSTEM Croatian Pension Insurance Institute Croatia Country fiche on pension projections Prepared for the 2018 round of EPC AWG projections v. 06.12.2017.
More informationESID/SPAG/CS5 25 July Seminar on the Social, Health and Economic Consequences of Population Ageing in the Context of Changing Families
FOR PARTICIPANTS ONLY ESID/SPAG/CS5 25 July 2007 UNITED NATIONS ECONOMIC AND SOCIAL COMMISSION FOR ASIA AND THE PACIFIC UNITED NATIONS POPULATION FUND UNITED NATIONS DEPARTMENT OF ECONOMIC AND SOCIAL AFFAIRS
More informationMALTA 1 MAIN CHARACTERISTICS OF THE PENSIONS SYSTEM
MALTA 1 MAIN CHARACTERISTICS OF THE PENSIONS SYSTEM In Malta the mandatory earning related pension scheme covers old-age pensions, survivor's benefits and invalidity pensions for employed people. It is
More informationCYPRUS 1 MAIN CHARACTERISTICS OF THE PENSIONS SYSTEM
CYPRUS 1 MAIN CHARACTERISTICS OF THE PENSIONS SYSTEM The pension system in Cyprus is almost entirely public, with Private provision playing a minor role. The statutory General Social Insurance Scheme,
More informationLithuanian country fiche on pension projections 2015
Ministry of Social Security and Labour Lithuanian country fiche on pension projections 2015 December, 2014 Vidija Pastukiene Social Insurance and Funded Pensions Division, Ministry of Social Security and
More informationCZECH REPUBLIC. 1. Main characteristics of the pension system
CZECH REPUBLIC 1. Main characteristics of the pension system Statutory old-age pensions are composed of two parts: a flat-rate basic pension and an earnings-related pension based on the personal assessment
More informationResponding to the Growing Elderly Population Challenges through Social Protection in Indonesia from Fiscal Policy Perspective
Responding to the Growing Elderly Population Challenges through Social Protection in Indonesia from Fiscal Policy Perspective Prof. Suahasil Nazara Head of Fiscal Policy Agency, Ministry of Finance Jakarta,
More informationREPUBLIC OF CROATIA MINISTRY OF LABOUR AND PENSION SYSTEM Croatian Pension Insurance Institute. Croatia Country fiche on pension projections
REPUBLIC OF CROATIA MINISTRY OF LABOUR AND PENSION SYSTEM Croatian Pension Insurance Institute Croatia Country fiche on pension projections Prepared for the 2015 round of EPC AWG projections Version 3
More informationAgeing working group Country fiche on 2018 pension projections of the Slovak republic
Ageing working group Country fiche on 2018 pension projections of the Slovak republic October 2017 Contents 1. Overview of the pension system... 5 1.1. Description... 5 1.2. Recent reforms of the pension
More informationNATIONAL DEVELOPMENT STRATEGY
NATIONAL DEVELOPMENT STRATEGY Government of Mongolia External Partners Second Technical Meeting N. Enkhbayar, Director, EPD Ministry of Finance of Mongolia Ulaanbaatar October 9,, 2006 Need for National
More informationSocial protection consist of policies and programs designed to reduce poverty and vulnerability.
Social Protection Index (SPI) is relatively a simple indicator that divides total expenditures on social protection by total number of intended beneficiaries of social protection programs. Social protection
More informationSocial pensions in the context of an integrated strategy to expand coverage: The ILO position
Social pensions in the context of an integrated strategy to expand coverage: The ILO position Krzysztof Hagemejer Social Security Department 1 The context: Social security is a human right Universal Declaration
More informationAUSTRIA 1 MAIN CHARACTERISTICS OF THE PENSIONS SYSTEM
AUSTRIA 1 MAIN CHARACTERISTICS OF THE PENSIONS SYSTEM The key elements of the pension reform 2004 (which came into force on 1 January 2005) were the introduction of a uniform pension law and personal defined
More informationNotes - Gruber, Public Finance Chapter 13 Basic things you need to know about SS. SS is essentially a public annuity, it gives insurance against low
Notes - Gruber, Public Finance Chapter 13 Basic things you need to know about SS. SS is essentially a public annuity, it gives insurance against low income in old age. Because there is forced participation
More informationUniversal Social Protection
Universal Social Protection Universal pensions in Thailand Old-age allowance In 2009, Thailand succeeded in expanding pensions for older persons through the implementation of a non-contributory old-age
More informationHUNGARY 1 MAIN CHARACTERISTICS OF THE PENSIONS SYSTEM
HUNGARY 1 MAIN CHARACTERISTICS OF THE PENSIONS SYSTEM Since the 1997 pension reform the mandatory public pension system consists of two tiers. The first tier is a publicly managed, pay-as-you-go financed,
More informationDEMOGRAPHICS AND MACROECONOMICS
1 KAZAKHSTAN DEMOGRAPHICS AND MACROECONOMICS Nominal GDP (EUR bn) 15 936 GDP per capita (USD) 8 535 Population (000s) 15 521 Labour force (000s) 8 415 Employment rate 93.4 Population over 65 (%) 7.7 Dependency
More informationHealth Shocks and Disability Transitions among Near-Elderly Workers. Discussant Remarks By David Weaver Social Security Administration
Health Shocks and Disability Transitions among Near-Elderly Workers Discussant Remarks By David Weaver Social Security Administration SSA s Disability Programs: Extensive Programs Serving Vulnerable Groups
More informationThe World Bank in Pensions Executive Summary
The World Bank in Pensions Executive Summary Forthcoming Background Paper for the World Bank 2012 2022 Social Protection and Labor Strategy Mark Dorfman and Robert Palacios March 2012 JEL Codes: I38 welfare
More informationFrom Poverty to Decent Work: Bridging the Gap through the Millennium Development Goals
From Poverty to Decent Work: Bridging the Gap through the Millennium Development Goals Director Lawrence Jeff Johnson ILO-CO Manila Global unemployment ( 000s) and unemployment rate (%) Source: ILO Trends
More informationSocial security and retirement reform a progress report
Social security and retirement reform a progress report Andrew R Donaldson, National Treasury 2008 Pension Lawyers Association Conference 17 March 2008 Interdepartmental task team: work agenda Social assistance
More informationPENSIONS AT A GLANCE 2009: RETIREMENT INCOME SYSTEMS IN OECD COUNTRIES NORWAY
PENSIONS AT A GLANCE 29: RETIREMENT INCOME SYSTEMS IN OECD COUNTRIES Online Country Profiles, including personal income tax and social security contributions NORWAY Norway: pension system in 26 The public
More informationIOPS COUNTRY PROFILE: BRAZIL
IOPS COUNTRY PROFILE: BRAZIL DEMOGRAPHICS AND MACROECONOMICS GDP per capita (USD) 10 900 Population (000s) 201 103 Labour force (000s) 103 600 Employment rate 93 Population over 65 (%) 6.4 Dependency ratio
More informationIOPS COUNTRY PROFILE: ROMANIA
IOPS COUNTRY PROFILE: ROMANIA DEMOGRAPHICS AND MACROECONOMICS Nominal GDP (EUR bn), 2017 187.94 GDP per capita (USD), 2016 23.197 Population (000s), 2017 19.524 Labour force (000s) 8.274 Employment rate
More informationSocial Security. Social Security Basics *Facts Continued. Social Security Basics. Social Security Basics *Facts Continued. Social Security Basics
Social Security Presented by: Jessica Carey Mike Priskos Tim Drisdom Social Security Basics *Facts Continued To become eligible for his or her benefit and benefits for family members or survivors, a worker
More informationThe Effect of Pension Subsidies on Retirement Timing of Older Women: Evidence from a Regression Kink Design
The Effect of Pension Subsidies on Retirement Timing of Older Women: Evidence from a Regression Kink Design Han Ye University of Mannheim 20th Annual Joint Meeting of the Retirement Research Consortium
More informationSocial Welfare in Korea. Young Jun Choi Dept. of Public Administration Korea University
Social Welfare in Korea Young Jun Choi Dept. of Public Administration Korea University Contents Introduction Characteristics of social welfare in Korea Socio-economic changes Welfare developments Cases
More informationPension Reform Options in Korea
Pension Reform Options in Korea Seong Sook Kim, NPRI, NPS IMF International Conference Tokyo, Japan January 2013 Contents 1. Overview of Current Public Pension Systems 2. Brief History of National Pension
More informationPension projections Denmark (AWG)
Pension projections Denmark (AWG) November 12 th, 2014 Part I: Overview of the Pension System The Danish pension system can be divided into three pillars: 1. The first pillar consists primarily of the
More informationPension schemes in EU member states, For more information on this topic please click here
Pension schemes in EU member states, 2009-2015 For more information on this topic please click here Content: 1. Pension schemes in EU member states and projection coverage, 2015...2 2. Pension schemes
More informationPension Reform in Chile
Pension Reform in Chile DAVID BRAVO, P.Universidad Católica de Chile (david.bravo@uc.cl) International Workshop on Pension Reform: Global Trends and China s Experiences The Institute of Population and
More informationCHAPTER 3 POPULATION AND ECONOMIC CHARACTERISTICS
CHAPTER 3 POPULATION AND ECONOMIC CHARACTERISTICS INTRODUCTION Population trends in La Vista and its respective planning jurisdiction serve as valuable indicators of future development needs and patterns
More informationSOCIAL PROTECTION IN VIETNAM: Successes and obstacles to progressively
SOCIAL PROTECTION IN VIETNAM: Successes and obstacles to progressively Dao Quang Vinh, Director General Institute of Labour Science and Social Affairs, Ministry of Labour, Invalids and Social Affairs,
More informationOlder Workers: Employment and Retirement Trends
Cornell University ILR School DigitalCommons@ILR Federal Publications Key Workplace Documents September 2005 Older Workers: Employment and Retirement Trends Patrick Purcell Congressional Research Service
More informationDEMOGRAPHICS AND MACROECONOMICS
1 ROMANIA DEMOGRAPHICS AND MACROECONOMICS Nominal GDP (EUR bn) 512 GDP per capita (USD) 9 518 Population (000s) 21 361 Labour force (000s) 9 945 Employment rate 94.2 Population over 65 (%) 15 Dependency
More informationSOCIAL PROTECTION IN VIETNAM: Successes and obstacles to progressively
SOCIAL PROTECTION IN VIETNAM: Successes and obstacles to progressively Dao Quang Vinh, Institute of Labour Science and Social Affairs, Ministry of Labour, Invalids and Social Affairs, Vietnam United Nations
More informationCRS Report for Congress Received through the CRS Web
Order Code RL33387 CRS Report for Congress Received through the CRS Web Topics in Aging: Income of Americans Age 65 and Older, 1969 to 2004 April 21, 2006 Patrick Purcell Specialist in Social Legislation
More informationFiscal Space for Social Protection: Harmonization of Contributory and Non-Contributory programmes
socialprotection.org presents the Fiscal Space for Social Protection: Knowledge Sharing Initiative Webinar Series Continuing with: Fiscal Space for Social Protection: Harmonization of Contributory and
More informationPUBLIC PENSION SYSTEMS AND THE ELDERLY POVERTY IN KOREA
PUBLIC PENSION SYSTEMS AND THE ELDERLY POVERTY IN KOREA Hyeok Chang Kwon (GNTECH) The Joint World Conference on Social Work, Education and Social Development 2016. COEX, Seoul Korea 28 June 2016 Today
More informationDemographic Impacts on Social Security System and Fiscal Policy: Contexts in Japan G20 Symposium
Demographic Impacts on Social Security System and Fiscal Policy: Contexts in Japan G2 Symposium Junji Ueda Ministry of Finance, Japan January 17, 218 Key questions for fiscal policy and social security
More informationOpen-Ended Working Group on Ageing Guiding Questions
1 Open-Ended Working Group on Ageing Guiding Questions 1. Equality and Non-Discrimination 1.1. Does your country s constitution and/or legislation (a) guarantee equality explicitly for older persons or
More informationIOPS Member country or territory pension system profile: ALBANIA
IOPS Member country or territory pension system profile: ALBANIA Report issued on February 2013, to be validated by the Albanian Financial Supervisory Authority IOPS Country Profiles Albania, February
More informationExecutive summary. Universal social protection to achieve the Sustainable Development Goals
Executive summary Universal social protection to achieve the Sustainable Development Goals 2017 19 Universal social protection to achieve the Sustainable Development Goals Executive summary Social protection,
More informationPension policy and financial assessment of a new defined benefit pension scheme
Pension policy and financial assessment of a new defined benefit pension scheme UNECOSOC conference Achieving sustainable development through employment creation and decent work for all 24-25 February
More informationOlder Workers: Employment and Retirement Trends
Cornell University ILR School DigitalCommons@ILR Federal Publications Key Workplace Documents 9-15-2008 Older Workers: Employment and Retirement Trends Patrick Purcell Congressional Research Service; Domestic
More informationIOPS COUNTRY PROFILE: NORWAY
IOPS COUNTRY PROFILE: NORWAY DEMOGRAPHICS AND MACROECONOMICS GDP per capita (USD) 62,182 Population (000s) 5,137 Labour force (000s) 2,758 Employment rate 1 74 Population over 65 (%) Dependency ratio 2
More informationInter-relation between the three pillars in the Icelandic pension system
Inter-relation between the three pillars in the Icelandic pension system Nordisk skattevidenskabeligt forskningsråds seminar København 26. og 27. oktober 2006 Ingvi Már Pálsson Ministry of Finance, Iceland
More informationPension Reform in Germany
Pension Reform in Germany By Dr. Christoph Schumacher-Hildebrand Head of European Union Division at the Federal Ministry of Labor and Social Affairs (ch.schumacher-hildebrand@bma.bund.de) Key issues of
More informationP R O S T Application in Tanzania: impact of reform on NSSF. Tatyana Bogomolova World Bank
P R O S T Application in Tanzania: impact of reform on NSSF Tatyana Bogomolova World Bank 1 Demographic and economic context Demographics Young population, old age population dependency rate=10% High fertility
More informationStatus of Social Protection of Elderly in Sri Lanka
Status of Social Protection of Elderly in Sri Lanka Workshop on the World Bank s Study of Ageing Dr Ravi P. Rannan-Eliya & Colleagues Institute for Health Policy www.ihp.lk February 27, 2005 Hilton Residencies
More informationPROST Application in Tanzania: impact of reform on NSSF
Public Disclosure Authorized Public Disclosure Authorized PROST Application in Tanzania: impact of reform on NSSF Public Disclosure Authorized Tatyana Bogomolova World Bank d Demographic and economic context
More informationLAW OF MONGOLIA ON PENSIONS AND BENEFITS PAID FROM SOCIAL INSURANCE FUNDS CHAPTER ONE. General provisions
LAW OF MONGOLIA ON PENSIONS AND BENEFITS PAID FROM SOCIAL INSURANCE FUNDS CHAPTER ONE General provisions Article 1. Purpose of the law The purpose of this law is to regulate relations related to the granting
More informationPRESENTATION TO RESIDENT DOCTORS WORKSHOP
Mason Mwiinga/Dorothy Soko DCB/DI PRESENTATION TO RESIDENT DOCTORS WORKSHOP 6 TH 24 March 2017 OVERVIEW OF THE PENSION POLICY IN ZAMBIA 2 The following social contingencies: are covered currently in Zambia:
More informationPensions: Basic Concepts and international debate. Bogor, Indonesia 6 March 2017
Pensions: Basic Concepts and international debate Bogor, Indonesia 6 March 2017 Situation of the elderly Reduced capacity to work Low income or no income at all Deteriorating health conditions Suffering
More informationThe Pension Scheme for the Pharmacy Sector Annual report
The Pension Scheme for the Pharmacy Sector Annual report 2012 1 2 The Pension Scheme for the Pharmacy Sector Annual report 2012 Contents Introduction 3 About the pension scheme 4 Key figures 4 Insight:
More informationIndia s Support System for Elderly Myths and Realities
India s Support System for Elderly Myths and Realities K S James Institute for Social and Economic Change Bangalore, India AGEING IN ASIA-PACIFIC: Balancing the State and the Family 20TH BIENNIAL GENERAL
More informationKyrgyz Republic Public Expenditure Review Policy Notes
Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Report No. 89007 Kyrgyz Republic Public Expenditure Review Policy Notes Pensions May
More informationACTUARIAL REPORT 12 th. on the
12 th on the OLD AGE SECURITY PROGRAM Office of the Chief Actuary Office of the Superintendent of Financial Institutions Canada 12 th Floor, Kent Square Building 255 Albert Street Ottawa, Ontario K1A 0H2
More informationMongolia: Time Use Surveys and Policy Case Study
Mongolia: Time Use Surveys and Policy Case Study Otgontugs Banzragch, Dean of Graduate School, National University of Mongolia, and Faculty Fellow in Residence, Department of Economics, American University
More informationLessons from China s Pension Reform Experiences. Mark C. Dorfman. World Bank Pensions Core Course November 13, 2009
Lessons from China s Pension Reform Experiences Mark C. Dorfman World Bank Pensions Core Course November 13, 2009 1 Organization 1. Background - History 2. Overall Structure, Challenges 3. Urban Enterprise
More informationShould Social Security Funds Invest in Government Securities? Derek Osborne CAA Conference, Dec. 2 nd, 2010, Barbados
Should Social Security Funds Invest in Government Securities? Derek Osborne CAA Conference, Dec. 2 nd, 2010, Barbados Today s Agenda Features of Caribbean social security schemes Social security investments
More informationCONSIDERATIONS CONCERNING PUBLIC PENSION SYSTEM
Scientific Bulletin Economic Sciences, Volume 13/ Issue 2 CONSIDERATIONS CONCERNING PUBLIC PENSION SYSTEM Emilia CLIPICI 1 1 Faculty of Economics, University of Pitesti, Romania, emilia.clipici@upit.ro
More informationWorld Social Security Report 2010/11 Providing coverage in times of crisis and beyond
Executive Summary World Social Security Report 2010/11 Providing coverage in times of crisis and beyond The World Social Security Report 2010/11 is the first in a series of reports on social security coverage
More informationCREATION OF A REFORMED PENSION SYSTEM FOR CIVIL SERVANTS IN TIMOR-LESTE
CREATION OF A REFORMED PENSION SYSTEM FOR CIVIL SERVANTS IN TIMOR-LESTE Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized World Bank Social
More informationDEMOGRAPHICS AND MACROECONOMICS
1 ITALY DEMOGRAPHICS AND MACROECONOMICS Nominal GDP (EUR bn) 1 572 GDP per capita (USD) 38 455 Population (000s) 59 366 Labour force (000s) 25 097 Employment rate 93.2 Population over 65 (%) 19.8 Dependency
More informationRetirement Annuity and Employment-Based Pension Income, Among Individuals Aged 50 and Over: 2006
Retirement Annuity and Employment-Based Pension Income, Among Individuals d 50 and Over: 2006 by Ken McDonnell, EBRI Introduction This article looks at one slice of the income pie of the older population:
More information!"#$%!"&'()!*$%!'"!+'(,%-$+)!#'./!+'(&"!'
!"#$%!"&()!*$%!"!+(,%-$+)!#./!+(&"! #"0&)%.1%!#)!#* 1. BACKGROUND...2 2. TWO FORMAL OLD-AGE INCOME SECURITY...3 2.1 Gratuity Scheme...3 2.2 Government Employees Provident Fund Scheme...3 3. INADEQUACY
More informationPublic Disclosure Authorized. Public Disclosure Authorized. Public Disclosure Authorized MALAWI. Pensions for the Future
Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized MALAWI Pensions for the Future d ECONOMIC PROFILE Inflation: 23.5% (average 24% since the 90 s) Main Exports: Tobacco,
More informationAll social security systems are income transfer
Scope of social security coverage around the world: Context and overview 2 All social security systems are income transfer schemes that are fuelled by income generated by national economies, mainly by
More informationHyungpyo Moon. KDI, Korea
Hyungpyo Moon KDI, Korea OUTLINE 1. Current Issues in Pension Coverage 2. Pension Reform in 2007 3. Future Policy Agenda Mandatory participation Contributory/partially funded DB Redistribution function
More informationUniversal Social Protection
Universal Social Protection The Basic Social Grant for all older persons in Namibia Namibia s old age social pension, renamed in 1998 as Basic Social Grant (BSG), guarantees all Namibia s residents over
More informationMONGOLIAN HEALTH INSURANCE SCHEME
MONGOLIAN HEALTH INSURANCE SCHEME About Mongolia ABOUT MONGOLIA Landlocked country Population: 2.83 million Territory: 1,564,116 km 2 (603,909 sq mi) 1,580 m above sea-level Average summer temperature
More informationThe Danish labour market System 1. European Commissions report 2002 on Denmark
Arbejdsmarkedsudvalget AMU alm. del - Bilag 95 Offentligt 1 The Danish labour market System 1. European Commissions report 2002 on Denmark In 2002 the EU Commission made a joint report on adequate and
More informationCOMMUNICATION THE BOARD OF TRUSTEES, FEDERAL OLD-AGE AND SURVIVORS INSURANCE AND FEDERAL DISABILITY INSURANCE TRUST FUNDS
THE 2008 ANNUAL REPORT OF THE BOARD OF TRUSTEES OF THE FEDERAL OLD-AGE AND SURVIVORS INSURANCE AND FEDERAL DISABILITY INSURANCE TRUST FUNDS COMMUNICATION FROM THE BOARD OF TRUSTEES, FEDERAL OLD-AGE AND
More informationSocial Security: What It Means to New Mexico
Social Security: What It Means to New Mexico Currently, a debate is raging in this country about Social Security. It is clear that the present Social Security fund is under financial pressure. Predictions
More informationSocial Security Reform and Benefit Adequacy
URBAN INSTITUTE Brief Series No. 17 March 2004 Social Security Reform and Benefit Adequacy Lawrence H. Thompson Over a third of all retirees, including more than half of retired women, receive monthly
More information2005 National Strategy Report on Adequate and Sustainable Pensions; Estonia
2005 National Strategy Report on Adequate and Sustainable Pensions; Estonia Tallinn July 2005 CONTENTS 1. PREFACE...2 2. INTRODUCTION...3 2.1. General socio-economic background...3 2.2. Population...3
More informationComparison of pension systems in five countries: Iceland Denmark The Netherlands Sweden United Kingdom
Comparison of pension systems in five countries: Iceland Denmark The Netherlands Sweden United Kingdom English summary of a report in Icelandic, based on data from OECD (Organisation for Economic Co-operation
More informationIMPROVING LABOR MARKET OUTCOMES FOR POOR AND VULNERABLE GROUPS IN MONGOLIA
102320-MN IMPROVING LABOR MARKET OUTCOMES FOR POOR AND VULNERABLE GROUPS IN MONGOLIA Franziska Gassmann Daphne François Lorena Zardo Trindade December 2015 Acknowledgements This report was written by Franziska
More informationSocial Protection. Panel on Eradicating poverty as a foremost objective of institutions and policies across the SDGs
Social Protection Panel on Eradicating poverty as a foremost objective of institutions and policies across the SDGs Expert meeting for HLPF 2017 United Nations, Vienna, 14 December 2016 Isabel Ortiz Director
More informationConduent Human Resource Services Retirement Consulting. Public Employees Retirement System of New Jersey
Conduent Human Resource Services Retirement Consulting Public Employees Retirement System of New Jersey Information Required Under Governmental Accounting Standards Board Statement No. 68 as of June 30,
More information