LEADER 05260oam 22007815 450 001 9910812959003321 005 20200520144314.0 010 $a1-281-19141-8 010 $a9786611191412 010 $a0-8213-7370-6 024 7 $a10.1596/978-0-8213-7369-9 035 $a(CKB)1000000000484200 035 $a(EBL)459538 035 $a(OCoLC)290514149 035 $a(SSID)ssj0000089748 035 $a(PQKBManifestationID)11981108 035 $a(PQKBTitleCode)TC0000089748 035 $a(PQKBWorkID)10089458 035 $a(PQKB)10771187 035 $a(MiAaPQ)EBC459538 035 $a(Au-PeEL)EBL459538 035 $a(CaPaEBR)ebr10212659 035 $a(CaONFJC)MIL119141 035 $a(The World Bank)174134137$z(The World Bank)182525794 035 $a(The World Bank)ocn174134137 035 $a(US-djbf)15039895 035 $a(EXLCZ)991000000000484200 100 $a20071011d2008 uy 0 101 0 $aeng 135 $aurcn||||||||| 181 $ctxt$2rdacontent 182 $cc$2rdamedia 183 $acr$2rdacarrier 200 10$aSustainability of pension systems in the new EU member states and Croatia : $ecoping with aging challenges and fiscal pressures /$fLeszek Kasek, Thomas Laursen, Emilia Skrok 210 1$aWashington, D.C. :$cWorld Bank,$dc2008. 215 $aiv, 40 pages $cillustrations ;$d26 cm 225 0 $aWorld Bank working paper ;$vno. 129 300 $aDescription based upon print version of record. 311 $a0-8213-7369-2 320 $aIncludes bibliographical references and index. 327 $aContents; 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 327 $aTable 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 327 $aFigure 7. Pension Contribution Rates and Shares of Undeclared Work in 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 327 $aTable 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 327 $aFigure 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 330 $aThis study finds that pension reforms in recent years have improved the efficiency and sustainability of pension systems in the new member states of the European Union and Croatia. However, for many countries, these probably have not gone far enough to ensure long-term sustainability, given the aging of the population. Reforms have included changes to Pay-As-You-Go (PAYG) systems, including increases in retirement ages (not at least for women), new benefit formulas, and new indexation mechanism. Some countries (Latvia and Poland) have further strengthened the link of contributions and benefits 410 0$aWorld Bank e-Library. 606 $aPensions$zEuropean Union countries 606 $aPensions$zCroatia 615 0$aPensions 615 0$aPensions 676 $a331.25/2094 700 $aKasek$b Leszek$01657833 701 $aLaursen$b Thomas$01646747 701 $aSkrok$b Emilia$01704537 712 02$aWorld Bank. 801 0$bDLC 801 1$bDLC 801 2$bYDX 801 2$bBAKER 801 2$bYDXCP 801 2$bBTCTA 801 2$bCDX 801 2$bDLC 906 $aBOOK 912 $a9910812959003321 996 $aSustainability of pension systems in the new EU member states and Croatia$94090609 997 $aUNINA