Pension system reform as a pillar of the overhaul of social protection in Paraguay

2019 ◽  
Author(s):  
Keyword(s):  
Social Protection ◽  
Pension System ◽  
System Reform

Socioeconomic effects of pension spending: evidence from Spain

2020 ◽  
Vol 47 (5) ◽  
pp. 599-617
Author(s):  
Fernando Bermejo ◽  
Eladio Febrero ◽  
Andre Fernandes Tomon Avelino
Keyword(s):  
Peer Review ◽  
Social Protection ◽  
Pension System ◽  
Decomposition Analysis ◽  
Value Added ◽  
Total Output ◽  
Alternative View ◽  
Input Output ◽  
Structural Decomposition Analysis ◽  
Content Type

PurposeThe purpose of this study is to provide broader understanding of the significant role that the pension system has in the Spanish economy by estimating the sectoral production, employment and income sustained by pensioners' consumption.Design/methodology/approachBased on input–output tables by the World Input–Output Database and consumption data from the Household Budget Survey by the Spanish Statistical Office, a demoeconomic model is applied to quantify the direct impacts, indirect impacts from interindustry links and induced impacts from income–consumption connections over a nine-year period (2006–2014). Then, the factors driving the evolution of total output, employment and value added during such period have been examined by using structural decomposition analysis.FindingsThe growing participation of consumption by pensioner households in final demand had proven crucial during the 2008 crisis to alleviate the negative trend in production and employment derived from the collapse in consumption suffered by the rest of households.Practical implicationsDetermining the underlying factors driving changes in both employment and income during the 2008 crisis can be of interest in political decision-making on the sustainability of the Spanish pension system.Social implicationsThe results of estimating both the employment and income supported by pensioners' consumption reveal the significant stabilizing effect of the public spending on pensions, particularly during the 2008 crisis.Originality/valueThe current Spanish approach of attaining the pension system sustainability by merely reducing social protection costs ignores the adverse consequences of a lower pensioners' demand. This paper addresses an alternative view in which pension spending is not considered a burden on economic growth but rather a means of improving the level of production and employment.Peer reviewThe peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-01-2019-0047

scholarly journals Modelling home equity conversion loans with life insurance models

2013 ◽  
Vol 58 (199) ◽  
pp. 127-164
Author(s):  
Bojan Baskot
Keyword(s):  
Life Insurance ◽  
Pension System ◽  
System Reform ◽  
Retirement Home ◽  
Home Equity ◽  
Quality Life ◽  
Maturity Date

Home equity represents a reserve that can be used for providing additional money for its owners during their retirement. Life insurance models can be successfully applied to model home equity conversion loans. The home equity conversion loan is a financial product that provides a certain flexibility by using home equity as a resource for a quality life during retirement. Home equity conversion loans do not have a predetermined maturity date, as do conventional loans. But, like every loan, it must be repaid. One potential advantage of using a home equity conversion loan during tough financial times instead of some types of need-based assistance is that eligibility is straightforward. Home equity conversion loans can be useful tools in the process of pension system reform.

scholarly journals Pension System Reform and Economic Growth in Chile

2002 ◽  
Vol 173 (1-2) ◽  
pp. 69-81
Author(s):  
Anna Ząbkowicz
Keyword(s):  
Economic Growth ◽  
Pension System ◽  
System Reform

Modern pension and health insurance systems in Japan

2020 ◽  
pp. 66-73
Author(s):  
Dmitry Maximovich Karpov
Keyword(s):  
Health Insurance ◽  
Social Protection ◽  
Pension System ◽  
Developed Countries ◽  
Pension Insurance ◽  
Commercial Activity ◽  
Insurance Premiums ◽  
Insurance System ◽  
The Absolute ◽  
Pension Insurance System

The article substantiates the relevance of issues related to the functioning of social protection systems for the population of developed countries. The review and analysis of the modern pension system in Japan is made. The mechanism of recognition of Japanese citizens and foreign citizens residing in it as insured persons of a certain category and the mechanism of functioning of individual subsystems of the pension insurance system (in particular, basic pension, employee pension insurance, optional (additional) pension insurance system) are considered. The data on the absolute amounts and rates of insurance premiums, the formulas by which the monthly pension is calculated, and the conditions that must be met by insured persons to acquire the right to a pension (for old age, for disability, for the loss of a breadwinner) are given. The conditions for receiving and the amount of benefits for dependents and child benefits are indicated. The review and analysis of the modern health insurance system in Japan is made. The mechanism of functioning of individual subsystems of the pension insurance system (in particular, insurance at the place of work, insurance at the municipal level, insurance for persons aged 75 and over) is considered. The data on the absolute amounts and rates of insurance premiums, on the specifics of fi nancing the activities of public and private organizations, which, on the basis of the principles of non-commercial activity, provide medical services to the population of Japan are presented. The conditions for receiving and the amount of benefits for the birth of a child, for a funeral, for temporary disability are indicated. Attention is drawn to the distinctive features of the pension and health insurance systems in Japan. It is proposed to use the Japanese experience to reform the national systems of social protection of the population.

Financialisation and social protection? The UK’s path towards a socially protective public–private pension system

2019 ◽  
pp. 47-70
Author(s):  
Paul Bridgen
Keyword(s):  
Current Literature ◽  
Social Protection ◽  
Pension System ◽  
Financial Sector ◽  
Private Pension ◽  
Social Regulation ◽  
Defined Contribution ◽  
Public Provision ◽  
Private Provision ◽  
System P

Consideration of pension financialisation in recent years has focused on the rise of defined contribution pensions, highlighting the greater level of individualised interaction this has encouraged between citizens and the financial sector. This development has generally been seen as unequivocally neo-liberal, complementary to retrenching reforms replacing private provision for public. This chapter, in contrast, argues for a less rigid, more fluid understanding of UK pension financialisation, one that has entailed the interaction of financialising and progressive social protection agendas in a politics more diverse and negotiated than proposed in the current literature. The result in 2019 is a UK public-private pension mix under which at least some traditional social protection objectives are met through social regulation rather than public provision. To emphasise the continuing role for agents in today’s system, the paper finishes by proposing two ambitious, but feasible, regulatory reforms designed to enhance the system’s socially protective features.

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