scholarly journals Smart Technologies As a Tool for Development of Personal Pension Protection of Population

2021 ◽  
pp. 40-49
Author(s):  
Lyubov Grigoryeva ◽  
◽  
Natalya Gorshkova ◽  
Keyword(s):  
General Public ◽  
Pension System ◽  
Digital Technologies ◽  
Graphical Analysis ◽  
Financial Behavior ◽  
Pension Scheme ◽  
Retirement Benefits ◽  
Analysis And Synthesis ◽  
Territorial Differentiation ◽  
Smart Technologies

The need to provide pension protection for the population of Russia is one of the priority tasks of the state’s social policy. However, the current situation connected with the territorial differentiation of retirement benefits creates conditions for finding new opportunities to provide the population with access to pension products that will allow them to ensure their pension protection. The importance of the issue determined the purpose of this paper which is to study the specifics of investment into personal pension protection of Russian citizens, as well as the peculiarities of smart technologies use during this process. The research methodology is based on the methods of systems analysis and synthesis, as well as on general research methods like induction and deduction. Methods of statistical and graphical analysis were used to process the empirical material. In order to study the involvement of the population in the investment into personal pension protection and the use of smart technologies in the financial sector, the method of sociological surveys and expert opinion was applied. Relying on the essential parameters of the Russian system of pension protection and the digital technologies used in the process of implementing the personal pension scheme funds of Russian citizens, the authors have identified and analyzed the following parameters: 1) specific features of the Russian system of pension protection for general public in Russia; 2) peculiarities of the financial behavior and financial preferences of Russians in the formation of personal pension protection; 3) key problems that deter people from the use of pension schemes in an expanded format; 4) suggested service of existing digital technologies in the pension system and the prospects for its development. The method suggested by the authors for the solution of the issues mentioned above involves taking into account the real needs of the public for the access to pension products by means of digital technologies based on the suggested service. The set of options suggested by the authors will contribute to the most efficient investment into pension protection of the general public and improve the standard of living of the population in the future.

The transition to a multi-pillar pension system: the inherent socio-economic anomaly

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Ishay Wolf ◽  
Jose Maria Caridad y Ocerin
Keyword(s):  
Income Inequality ◽  
Old Age ◽  
Pension System ◽  
Economic Loss ◽  
Pension Scheme ◽  
Total Contribution ◽  
Content Type ◽  
Pension Systems ◽  
High Earning ◽  
Minimum Pension

Purpose This paper aims to analytically show that in an over-lapping-generation (OLG) model, low earning cohorts bear unwanted risk and absorb higher economic cost than high earning cohorts do. Design/methodology/approach This paper aims to consider the individual's risk appetite, using a simple utility function, based on consumptions and discount rates in each period. This paper calibrates the model according to teh Israeli pension system as a representative of a small open developed organization for economic cooperation and development country. Israel is considered as unique case study in the pension landscape, as it implements almost pure defined contribution pension scheme with continuous trend of pension market capitalization (Giorno and Jacques, 2016). Hence, this study finds Israel suitable for examining the theoretical mix of pension scheme. That model enables exploring combined solutions for adequate old age benefits, involving the first and the second pension pillars, under fiscal constraints. Findings It comes out that for risk-averse individuals, the optimal degree of funding is negatively correlated to asset returns' volatility and positively correlated to earning decile level. The neglect of risk and individual's current earning level will thus overstate the contribution level and funded percentage from total contributions. Moreover, even in an economy with minimum government intervention, and highly developed private pension fund with high average of rate of return, the authors find it is optimal that the pension system contains a sizeable unfunded pillar. This paper innovates by revealing a socio-economic anomaly in design of mix pension systems in favor of high earning cohorts on the expense of economic loss of low earning cohorts. Practical implications The model presented in this paper could be implemented in countries with mix pension systems, as an alternative to public social transfers or means tested, alleviating poverty and inequality in old age. Additionally, this model could raise the public awareness of the financial sustainability of the unfunded pay-as-you-go pillar to diversify financial risk in pension systems, especially for low earning cohort in society. Social implications One area of research that is particularly relevant in this context concerns the issue of alleviating poverty and income inequality. It is often stressed that the prevention of old age poverty is among the central targets of well-designed pension system (Holzmann and Hinz, 2005). The conceptualization of minimum pension guarantee used in this composition allows to clearly capturing the notion of such a poverty and social targets as an integral part of the pension system rolls. Originality/value This paper innovates by revealing a socio-economic anomaly in design of mix pension systems in favor of high earning cohorts on the expense of economic loss of low earning cohorts. That comes to realize through the level of total contribution rates and funded share that are generally optimal for high earning cohorts but not for low earning cohorts. This paper identifies that the effect of anomaly is most significant in a market characterized with high income-inequality level. This paper finds that imposing intra-generational risk sharing instrument in the form of minimum pension guarantee can re-balance pension design among different earning cohorts. This solution demonstrates balancing effect on the entire economy.

scholarly journals Personnel Component of the Regions Innovation Infrastructure as a Driver for the Development of Smart Technologies

2020 ◽  
pp. 96-108
Author(s):  
Vladimir Byvshev ◽  
Irina Panteleeva ◽  
Kristina Parfenteva ◽  
Danil Uskov
Keyword(s):  
Human Resources ◽  
Rapid Development ◽  
Digital Technologies ◽  
Business Community ◽  
Krasnoyarsk Krai ◽  
New Paradigm ◽  
Regional Innovation ◽  
Innovation Infrastructure ◽  
Smart Technologies ◽  
Regional Authorities

The processes of digitalization and development of smart technologies today set a new paradigm for the development of economy and society as a whole. From year to year, the market capitalization of companies in the field of digital and smart technologies is growing, which reflects the rapid development of this sphere, but in Russia, the pace of development of the digital sphere is lower than in the leading countries in this area, one of the reasons for the lag is insufficient staffing and brain drain. The purpose of the article is to consider the possibility of developing personnel for digital and smart technologies using the personnel component of the regional innovation infrastructure. As a result of studying the experience of Krasnoyarsk krai, it is concluded that the regional law does not set tasks for the development of the regions human resources infrastructure, although the region has a basis for such development and the human resources component of the innovation infrastructure can act as a driver for the development of smart and digital technologies. However, this requires building a model of the network interaction between postgraduate, higher, secondary, general and additional education, as well as direct coordination with regional authorities and regional innovation infrastructure areas of training that are relevant to development in the region. In addition, coordination may consist in generating demand from the business community for personnel in the field of smart and digital technologies.

scholarly journals IMPLEMENTATION OF DIGITAL TECHNOLOGIES IN HUMAN RIGHTS TO HEALTHCARE

2020 ◽  
Vol 73 (7) ◽  
pp. 1539-1544
Author(s):  
Volodymyr V. Marchenko ◽  
Inna I. Kilimnik ◽  
Alla V. Dombrovska
Keyword(s):  
Human Rights ◽  
Digital Technologies ◽  
European Convention ◽  
Structural Method ◽  
Legal Analysis ◽  
The European Union ◽  
Blockchain Technology ◽  
European Court ◽  
Analysis And Synthesis ◽  
Protection Of Human Rights

The aim: The aim of the study is to examine the blockchain technology in the field of healthcare, to analyze the principles of the European Convention on Human Rights regarding respect for private and family life, home and correspondence, to analyze the key positions of the European Court of Human Rights (hereinafter – ECHR) in the field of human rights to privacy, to analyze the European Union (hereinafter – EU) secondary legislation regarding the supply of medicines, prospects for the blockchain usage in order to protect human rights to privacy and improve the quality of medicines. Materials and methods: Scientific works that are devoted to the outspread of digital technologies in healthcare, the provisions of the European Convention on Human Rights, the ECHR’s practice on the protection of human rights to privacy, the provisions of the EU secondary legislation that regulate the supply of medicines are studied. The methodology of this article is based on comparative and legal analysis techniques and includes system-structural method, method of generalization, method of analysis and synthesis as well. Conclusions: The blockchain technology in medicine and pharmacology will increase the level of protection of human rights to healthcare quality.

Digital tools and smart technologies in marketing: a thematic evolution

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Estrella Diaz ◽  
Águeda Esteban ◽  
Rocío Carranza Vallejo ◽  
David Martín-Consuegra Navarro
Keyword(s):  
New Technologies ◽  
Market Competition ◽  
International Marketing ◽  
Digital Technologies ◽  
Future Research ◽  
Disruptive Technology ◽  
Content Type ◽  
Performance Determinants ◽  
Smart Technologies ◽  
The Impact

PurposeThis paper aims to analyze the evolution of digital and smart technologies and their relationship with different themes within marketing journals. In addition, this study has included the evolution of digital and smart technologies in relevant International Marketing (IM)/International Business (IB) journals to describe the impact of technology on this specific area to draw some interesting conclusions.Design/methodology/approachA bibliometric approach is applied in this research using science mapping analysis to visualize and reveal the evolution of smart and digital technologies in this specific academic area.FindingsBy combining science maps with performance indicators, the results of this study suggest that new technologies are related to eight main topics within marketing journals: implementation-completion, perceptions, behavior, market competition, adoption-diffusion model, social media, competitive advantage and disruptive technology. Additionally, this work provides new avenues for future research. When analyzing IM and IB journals, the findings highlight six thematic areas: perceptions-eWOM relationship, innovative foreign markets, performance determinants, Japan, industrial research and China.Originality/valueThis study contributes theoretically to developing and describing a framework for research in smart and digital technologies in the general marketing and international marketing/business fields. It adds a coherent perspective on the points of contact in marketing evolution, where smart technology has a meaningful role. This study outlines the changing questions surrounding the touchpoints as well as emerging research topics.

Selection of Retirement Saving Plan for a Private-sector Employee in Pakistan

2020 ◽  
pp. 097282012093936
Author(s):  
Bushra Naqvi ◽  
Syed Kumail Abbas Rizvi ◽  
Arsalan Shahzad
Keyword(s):  
Private Sector ◽  
Asset Management ◽  
Yield Curve ◽  
Pension System ◽  
Assistant Professor ◽  
Pension Plans ◽  
Retirement Plans ◽  
Retirement Benefits ◽  
Private And Public ◽  
Sector Employee

Tehmina Khan, a 35-year-old, married mother of two, had been working as an assistant professor at a private sector university, University of Management and Information (UMI), School of Business. For the last few years, she had been saving for her retirement via a provident fund (PF) with her employer. The fund had been posting generous returns for years up until July 2018, when it posted earnings well below the inflation rate for the same period. Tehmina wanted to be financially self-sufficient in her post-retirement years and sought no financial dependence on her posterity for that matter. The meagre returns heightened her concerns about the future eventualities, so she had to decide if she should switch to another retirement plan. She needed to explore alternative retirement plans and identify how she could participate in a voluntary pension system (VPS) outside her employer’s PF. Also, if she decided to go ahead with VPS, she had to decide which asset management company(s) and portfolio manager(s) to allocate her savings to. The case comprehensively discusses the details about different retirement benefits and mechanisms and distinguishes aspects of private and public sector retirement plans in Pakistan. Most importantly, the case includes data on the performance of seventeen out of a total of nineteen pension plans operating in Pakistan. It also includes data on asset allocations of pension funds; overall macroeconomic, historical and stock market performances; and yield curve for the last 10 years.

scholarly journals Retirement Planning Behaviour of Working Individuals and Legal Proposition for New Pension System in Malaysia

2016 ◽  
Vol 9 (4) ◽  
pp. 43 ◽  
Author(s):  
Kamal Halili Hassan ◽  
Rohani Abdul Rahim ◽  
Fariza Ahmad ◽  
Tengku Noor Azira Tengku Zainuddin ◽  
Rooshida Rahim Merican ◽  
...  
Keyword(s):  
Private Sector ◽  
Financial Literacy ◽  
Pension System ◽  
Retirement Planning ◽  
Private Pension ◽  
Pension Scheme ◽  
Age Group ◽  
Goal Clarity ◽  
Voluntary Basis ◽  
Private Pension System

<p class="MsoNormal" style="text-align: justify;">Problems have been identified pertaining to retirement scheme of the private sector employees in Malaysia where there is no legislated pension system in force. As a result of that, pension scheme and savings are more of a voluntary basis; although the principle is good but in practice many retirees suffer financially during their retirement. The objectives of this study are to examine factors contributing to individual’s retirement planning behavior and the private pension system in the private sector in Malaysia. Retirement planning behaviour in this study was measured with series of questions on behaviour about retirement planning. A total of 500 working individuals from private sectors in the age group of 40 years and above had participated in this study. The results identified several significant variables in the prediction of retirement planning among working individuals in Malaysia, including individual who had higher levels of education, higher levels of income, financial literacy, retirement goal clarity and attitude towards retirement. There is a correlation between retirement planning behavior and saving for old aged. As a response to the result collected from the survey, a legal proposition is put forward to address issues of pension during retirement among private sector’s employees.</p>

Impact of the Economic and Financial Crisis on the Pension System in the Czech Republic

2011 ◽  
Vol 57 (3) ◽  
pp. 299-312 ◽  
Author(s):  
Jirí Král
Keyword(s):  
Czech Republic ◽  
Economic Crisis ◽  
Pension System ◽  
Short Description ◽  
Pension Scheme ◽  
Current Debate ◽  
Private Pensions ◽  
The Czech Republic ◽  
The Impact ◽  
Economic And Financial Crisis

This paper addresses the situation in the area of pensions in the Czech Republic up to spring 2011. It starts with a short description of the structure of the pension landscape that differs, for example, from neighbouring countries like Poland or Hungary. In addition to a mandatory public pension scheme there exist additional voluntary private pensions. To put the impact of the financial and economic crisis into a frame, some information is given on the developments before the crisis started, taking into account parametric changes decided upon in summer 2008. Thereafter the impact of the crisis is discussed and the current debate outlined.

Private Pension Funds in Hungary

2005 ◽  
Vol 55 (3) ◽  
pp. 287-315 ◽  
Author(s):  
Ichiro Iwasaki ◽  
Kazuko Sato
Keyword(s):  
Trade Unions ◽  
Pension System ◽  
Pension Reform ◽  
Legal Framework ◽  
Pension Funds ◽  
Negative Influence ◽  
Private Pension ◽  
Pension Scheme ◽  
Special Interest Groups ◽  
Governance Reform

The new pension system launched in Hungary in 1998 is epoch-making for having introduced a mandatory private pension scheme (MPPS). However, the political decision-making on pension reform and the scheme operations have been greatly influenced by conflicts of interests among ministries, political conflicts between parties, and the presence of special interest groups, including trade unions and financial institutions. This situation may have had a certain negative influence on the legal framework of the MPPS and on the management performance of private pension funds. In order for the MPPS to be sustainable in the future and to make insurance beneficiary profits a top priority, the corporate governance reform of pension funds and reinforcement of the monitoring system over them, and political neutralisation of the public pension system are necessary.

The Role of Smart Technologies to Support Citizen Engagement and Decision Making

2018 ◽  
Vol 14 (4) ◽  
pp. 1-17 ◽  
Author(s):  
Gabriela Viale Pereira ◽  
Gregor Eibl ◽  
Constantinos Stylianou ◽  
Gilberto Martínez ◽  
Haris Neophytou ◽  
...  
Keyword(s):  
Decision Making ◽  
Social Media ◽  
Real Life ◽  
Digital Technologies ◽  
Fuzzy Cognitive Maps ◽  
Data Driven ◽  
Social Media Data ◽  
Life Problems ◽  
Smart Technologies ◽  
Media Data

Smart government relies both on the application of digital technologies to enable citizen's participation in order to achieve a high level of citizen centricity and on data-driven decision making in order to improve the quality of life of citizens. Data-driven decisions in turn depend on accessible and reliable datasets, which open government and social media data are likely to promise. The SmartGov project uses digital technologies by integrating open and social media data in Fuzzy Cognitive Maps to model real life problems and simulate different scenarios leading to better decision making. This research performed a multiple-case analysis in two pilot cities. Both municipalities use the technologies to find the best routes: Limassol to improve the garbage collection and Quart de Poblet to improve the walking routes of chaperones guiding children to school. The article proposes a generic framework for Smart City Governance focusing on the inputs and outcomes of this process in the use of technologies for policy making built based on the analysis of the SmartGov.

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