scholarly journals Which Norwegian Enterprises Offer the Poorest and the Best Pension Entitlements?

2019 ◽  
Vol 9 (1) ◽  
Author(s):  
Tove Midtsundstad
Keyword(s):  
Labor Market ◽  
Private Sector ◽  
Pension System ◽  
Social Partner ◽  
Occupational Pension ◽  
Occupational Pensions ◽  
National Insurance ◽  
The Social ◽  
Partner Relations ◽  
Pension Benefits

The National Insurance Scheme (NIS) remains the cornerstone of the Norwegian pension system. The introduction of a mandatory occupational pension in 2006, and the restructuring of the contractual pension (AFP) in 2008, have, however, significantly increased the importance of labor market based pensions. Entitlement to AFP and contributions to occupational pensions are largely determined by individual employers, thus resulting in significant different future pension benefits and opportunities to retire early among employees. This article investigates what characterizes private sector enterprises that offer their employees both entitlement to AFP and a ‘good’ occupational pension, compared with enterprises that only offer a minimum pension. Analyzing data from a survey carried out in 2012 among 1107 private sector companies, I find that companies who offered an occupational pension before such schemes became mandatory in 2006 and companies where the social partners had conducted negotiations concerning pensions, were more likely to offer ‘good’ labor market based pensions. Both of these factors are linked to union strength and strong social partner relations.

The UK Occupational Pension System in Crisis

2006 ◽  
Author(s):  
Gordon L. Clark
Keyword(s):  
Public Sector ◽  
Private Sector ◽  
Pension System ◽  
Occupational Pension ◽  
Defined Benefit ◽  
The Public ◽  
Occupational Pensions ◽  
Modern Capitalism ◽  
Defined Benefit Plans ◽  
Uncertain Future

The crisis in occupational pensions in Britain extend beyond coverage rates and benefit levels. Private-sector sponsors of existing defined-benefit plans face an uncertain future notwithstanding the establishment in 2005 of the Pension Protection Fund. As for the public sector, the unfunded status of many defined-benefit plans raises significant doubts about their long-term viability. Whatever happens to the Turner Report, the pension crisis has just begun; it is bound to dominate domestic politics for another generation. Most private sector employees do not have access to social security entitlements while public sector employees may see their entitlements passed back to central government to become yet another liability on an already overburdened state. This chapter examines the crisis in the British occupational pension system, the link between pensions and modern capitalism, corporate capitalism in a global environment, lessons for public policy, capital market efficiency and occupational pensions in the public sector.

Pensions at the Time of Recession. The Case of Lithuania

2011 ◽  
Vol 57 (3) ◽  
pp. 251-266 ◽  
Author(s):  
Teodoras Medaiskis
Keyword(s):  
Private Sector ◽  
Social Insurance ◽  
Pension System ◽  
Social Insurance System ◽  
High Unemployment ◽  
Insurance System ◽  
The Social ◽  
Reserve Fund ◽  
The Government ◽  
Deep Recession

In 2009, Lithuania suffered very deep recession. The fall in GDP by 15 %, high unemployment, and decreased population earnings all affected the pensions system. Before the recession struck, social insurance expenditures had increased considerably and the reserve fund had been exhausted. The recession resulted in the decreased income of the social insurance system and state. While in 2009, the government attempted to maintain the level of pensions, by 2010, it was forced to cut benefits. This shocking decision raised awareness about some theoretical problems concerning the nature of pensions. Is the social insurance payg pension the property of the retiree, or it is only a part of the working generation income shared via the social insurance system with the retired generation? How should the protection against poverty and income replacement components be combined in the pension system and how should they be financed? How should the payg and funded components be united and what are the roles of the private sector and the government? In this article, Lithuania’s attempts to cope with the recession’s consequences and to respond to these newly posed questions are presented.

scholarly journals How Occupational Pensions Shape Extended Working Lives: Gender, Class and Chance after the Norwegian Pension Reform

2020 ◽  
pp. 095001702095261
Author(s):  
Anne Skevik Grødem ◽  
Jon M Hippe
Keyword(s):  
Private Sector ◽  
Pension Reform ◽  
Working Life ◽  
Occupational Pension ◽  
Replacement Rate ◽  
Occupational Pensions ◽  
Pension Systems ◽  
Working Lives ◽  
The Future

Individuals’ need for extended working lives depends on the design of pension systems, including occupational pensions. This article examines variation in occupational pension generosity and coverage in Norway’s private sector. The analysis consists of microsimulations of future pension outcomes for cohorts born in 1953, 1963, 1973 and 1983. The first set of calculations estimate average pension levels for individuals with different pension packages who retire at 67; the second, how much longer workers in different cohorts will have to work in order to obtain a replacement rate of 70%. The overall finding is that while all workers in Norway must extend working life in the future, those with the most generous occupational pensions can retire about four years earlier than those with the least generous packages. This shows that the design and regulation of occupational pensions are crucial to the debate on extended working lives.

What determines supply and demand for occupational pensions in Germany?

2008 ◽  
Vol 7 (2) ◽  
pp. 131-156 ◽  
Author(s):  
KATHRIN DUMMANN
Keyword(s):  
Pension System ◽  
Supply And Demand ◽  
Supply Side ◽  
Occupational Pension ◽  
Demand Side ◽  
Private Pensions ◽  
Occupational Pensions ◽  
On Demand ◽  
Supply Side Factors ◽  
Old Age Benefits

AbstractDemographic change causes an undersupply of financial old age benefits within the statutory pay-as-you-go pension system in Germany. Therefore, the provision of occupational as well as private pensions has to be enhanced. However, there seems to be an undersupply of occupational pension provision particularly in small and medium sized enterprises (SMEs). Using survey data of the German Socio-Economic Panel (GSOEP) and the German SAVE survey, the present paper studies econometrically the determinants of occupational pension provision in Germany. It shows that occupational pensions depend not only on supply-side factors such as firm size and industry, but also on demand-side factors such as individual sociodemo-graphic attributes and people's savings motives.

Reconversion and the Origin of Bargained Plans

2017 ◽  
Author(s):  
Michael A. McCarthy
Keyword(s):  
World War Ii ◽  
Pension Plans ◽  
Occupational Pension ◽  
Labor Management ◽  
Private Pensions ◽  
Congress Of Industrial Organizations ◽  
Policy Interventions ◽  
Industrial Organizations ◽  
The Social ◽  
Pension Benefits

This chapter offers a explanation of the proliferation of occupational pension plans after World War II. Principally, it shows that private pension development was neither the result of policy interventions before the end of the war nor the simple result of union strength in postwar collective bargaining disputes. Instead, the turn to occupational pensions was caused by policymakers intervening in labor-management disputes—not principally to compel businesses to adopt occupational pension plans, but rather to establish labor peace in order to capture capitalist growth opportunities abroad. The chapter begins by considering why the Congress of Industrial Organizations was unable to expand the pension benefits offered by the Social Security program after the New Deal, roughly between 1939 and 1968, before turning to the expansion of private pensions.

scholarly journals Restructuring of the Disability Pension Scheme Following a Concept of an Integrated Public Social Insurance System in Poland

2020 ◽  
Vol 2 (1) ◽  
pp. 9-17
Author(s):  
Roman Garbiec
Keyword(s):  
Disability Pension ◽  
Social Insurance ◽  
Pension System ◽  
The State ◽  
Pension Scheme ◽  
Social Insurance System ◽  
Insurance System ◽  
The Social ◽  
Polish Government ◽  
Pension Benefits

AbstractThe disability pension system in Poland has operated largely unchanged since the 1970s. A compelling need to reform the system and adjust it to the challenges of the 21st century is an axiom in the Polish social policy. Unfortunately, restructuring of this system has never been, and is not a top priority for the Polish government. Ignoring this problem is a headwind against economic growth in Poland as the state is overburdened with significant social taxes. A need for the state to provide subsidies to cover current expenditures of the Social Insurance Trust Fund (FUS) is a permanent concern of the national economy. This paper highlights legislative errors and omissions in the Polish social insurance system, and the share of the state's budget devoted to financing of this system and benefit payments over the years 1991-2018. In the main part of the article, financial aspects of the operation of the pension system in Poland were presented. At the end of the article, a preliminary concept of a reform of the existing disability pension system was outlined, whose aim is in particular to improve its financial effectiveness and introduce uniform rules for the payment of pension benefits in Poland.

Projections of the costs of occupational pensions

1983 ◽  
Vol 110 (01) ◽  
pp. 243-269 ◽  
Author(s):  
J. L. Field
Keyword(s):  
Pension Scheme ◽  
Insurance Fund ◽  
Occupational Pension ◽  
Occupational Pensions ◽  
Pension Schemes ◽  
National Insurance ◽  
The Government ◽  
Starting Date

1. In the three years since projections of occupational pension scheme membership and expenditure were made for the Wilson Committee more data about schemes has become available, such as that from the Government Actuary's survey of Occupational Pension Schemes 1979 (theG.A.'s Survey), so the occasion of the publication of the Government Actuary's National Insurance Fund Long Term Financial Estimate (theQuinquennial Reviewor Q.R.) has been taken to revise and extend the Wilson Committee projections, using the starting date and earnings and prices assumptions of the Q.R.

scholarly journals Precariedad Estructural y Futuro de las Pensiones en España

2015 ◽  
Vol 3 (1) ◽  
pp. 2 ◽  
Author(s):  
Salvador Seguí-Cosme
Keyword(s):  
Labor Market ◽  
Social Protection ◽  
Pension System ◽  
Job Insecurity ◽  
Public Pension ◽  
Future Generations ◽  
Structural Unemployment ◽  
The Public ◽  
Public Pension System ◽  
The Social

<div><p>The Spanish post-crisis scenario of structural unemployment and job insecurity poses a new challenge to the public pension system: The trajectories of structurally precarious contributions, which carry the risk that future generations of retirees dispose of social protection levels considerably inferior to those of the current generations. The Spanish public pension system, already troubled by problems of sustainability, should be rethought in the context of a redefinition of the social security subsystem linked to the labor market.</p></div>

Pension reform in france as a balance between adequacy and stability

2021 ◽  
Vol 72 (5) ◽  
pp. 95-102
Author(s):  
N. Zelenko ◽  
V. Zelenko
Keyword(s):  
Life Expectancy ◽  
Financial Stability ◽  
Pension System ◽  
Pension Scheme ◽  
Occupational Pension ◽  
Defined Benefit ◽  
Member States ◽  
Eu Member States ◽  
The Government ◽  
Pension Benefits

In this paper the authors analyze the main aspects and problems of reforming the French pension system. Most EU member states have been forced to review their system due to the coronavirus crisis, at least to make temporary adjustments. Given European aging population, declining birth rates and increased life expectancy, the associated increase in the age dependency ratio is creating tensions for underfunded defined benefit pension systems. This implicit pension debt has important macroeconomic implications. In France, the structure of the pension system provides for the existence of solidarity component, occupational pension schemes, as well as personal (which are not popular in this country). Sometimes there are significant differences in pension benefits between public and private sector workers with the same earnings, although this difference is much lower than in many other EU member states. Starting from July 1, 2017, no new pension reforms have been implemented in France, as the project proposed by the government and President Macron has received significant opposition from both trade unions and a large part of the population, as the creation of the so-called “Universal pension scheme” provides significant reduction in the rights of future retirees. In general, the choice of restrictive rules that reflect trends in wages, employment and life expectancy is critical for the proper updated system management. Preservation of the French pension system in the near future provides the increase in retirement age or extension of insurance to receive full pension benefits. The results of scientific research indicate the need to apply the adjusted strategy for further reforms, compared to their original versions. The reform proposed by the government and the president is aimed mostly at achieving long-term financial stability of the pension system. As for the adequacy of pension benefits, for some categories of citizens it can be decreased. Therefore, the reform envisages new configurations between the financial stability of the pension system along with ensuring the adequacy of the pension benefits amount.

scholarly journals Class, gender and chance: the social division of welfare and occupational pensions in the United Kingdom

2008 ◽  
Vol 28 (3) ◽  
pp. 353-381 ◽  
Author(s):  
TRAUTE MEYER ◽  
PAUL BRIDGEN
Keyword(s):  
United Kingdom ◽  
Pension Reform ◽  
Significant Proportion ◽  
Occupational Pension ◽  
Policy Makers ◽  
Social Division ◽  
Occupational Pensions ◽  
The United Kingdom ◽  
The Social ◽  
And Gender

ABSTRACTThe social division of welfare literature emphasises the extent to which occupational-pension provision is distributed on the basis of class and gender. As most previous commentators have at least implicitly recognised, however, a significant proportion of less advantaged people are covered. This paper argues that the patterns of access and their distributional consequences must be considered more systematically, and that in this context, the diversity of employers' pension schemes are investigated. When this is done, it emerges that in the United Kingdom, the spread of occupational provision beyond the most privileged workers means that some vulnerable individuals avoid poverty in retirement. At the same time, however, the main determinant of which less advantaged people are covered and which not is chance. While class and gender are important predictors of who receives occupational pensions, access for the disadvantaged arises mainly as an accident of an employment decision made for reasons unrelated to savings or pensions criteria. This paper argues that the implication is that unsustainable justice-based arguments are currently used by policy makers to sanction the current distribution of UK pension incomes. The paper concludes by discussing the implications of the findings for the appropriateness of recent UK policy proposals and for international debates about pension reform.

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