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Record Nr. |
UNINA9910778244503321 |
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Autore |
Kasek Leszek |
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Titolo |
Sustainability of pension systems in the new EU member states and Croatia : : coping with aging challenges and fiscal pressures / / Leszek Kasek, Thomas Laursen, Emilia Skrok |
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Pubbl/distr/stampa |
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Washington, D.C. : , : World Bank, , c2008 |
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ISBN |
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1-281-19141-8 |
9786611191412 |
0-8213-7370-6 |
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Descrizione fisica |
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iv, 40 pages : illustrations ; ; 26 cm |
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Collana |
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World Bank working paper ; ; no. 129 |
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Altri autori (Persone) |
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LaursenThomas |
SkrokEmilia |
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Disciplina |
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Soggetti |
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Pensions - European Union countries |
Pensions - Croatia |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Description based upon print version of record. |
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Nota di bibliografia |
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Includes bibliographical references and index. |
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Nota di contenuto |
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Contents; Acknowledgments; 1. Overview of Current Pension Systems; Table 1. Retirement Ages in the EU10+1 in 2007; Table 2. Structure of Pension Systems in the EU10+1 Countries; Table 3. Basic Characteristics of Mixed Old-age Pension Systems; Figure 1. Pension Expenditure in 1996-2004, percent of GDP; Figure 2. Breakdown of Pension Expenditure in 2004, percent of GDP; Figure 3. Employment Rate of Older Workers (ages 55-64); Figure 4. Average Exit Age from the Labor Force Weighted by the Probability of Withdrawal from the Labor Market |
Table 4. Gross Replacement Rates in Mid-1990s and Mid-2000s, PercentFigure 5. Benefits per Year of Service (Accrual Rates); Table 5. Basic Demographic and Labor Market Characteristics by Gender; Table 6. Indexation of Pensions in Selected European Countries; Figure 6. Pension Contribution Rates in Selected European Countries; Table 7. Contribution Bases for Self-employed, 2005; Table 8. Cross-subsidization of Self-employed; Table 9. Implicit Individual IRR of the Pension Systems in the EU10+1 Countries, 2006 |
Figure 7. Pension Contribution Rates and Shares of Undeclared Work in |
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the EU10+1 CountriesFigure 8. Implicit IRRs and Shares of Undeclared Work in the EU10+1 Countries; Table 11. Financial Indicators of Agricultural Social Insurance Fund (KRUS) in Poland in 2000-05; Table 10. Social Insurance Balance, Percent of GDP; Table 12. Asset Allocation of Private Pension Funds, 2004 (percent); Table 13. Switching to the Second Pillar and Revenue Losses to the PAYG System, 2005; Table 14. Regulatory Administrative Charges to Second and Third Pillar Pension Funds, 2005 |
Table 15. Average Real Rate of Return on Investment of Assets in Private Pension Pillar2. Medium-Long Term Sustainability of Pension Schemes; Figure 9. Population Aged 65+ Years, Percent Change Relative to 2004; Figure 10. Eurostat Projections of Old-age Dependency Ratio in Europe; Table 16. Old-age Pension Expenditure: Current Situation and Prospects; Table 17. Long-term Sustainability of Public Finances; Table 18. Implied Replacement Rates (Illustrative); Table 19. Theoretical Replacement Rate of a Male Worker |
Figure 11. Projected Average Replacement Rate for Old-Age Pensioners in Romania (Percent of Average Wage)Figure 12. Projected Replacement Rates in Croatia 2000-40; 3. Conclusions; References |
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Sommario/riassunto |
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This study finds that pension reforms in recent years have improved the efficiency and sustainability of pension systems in the new member states of the European Union and Croatia. However, for many countries, these probably have not gone far enough to ensure long-term sustainability, given the aging of the population. Reforms have included changes to Pay-As-You-Go (PAYG) systems, including increases in retirement ages (not at least for women), new benefit formulas, and new indexation mechanism. Some countries (Latvia and Poland) have further strengthened the link of contributions and benefits |
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