scholarly journals Reform of Healthcare and Pension Systems in Chile (Conclusions for Poland)

2011 ◽  
Vol 14 (2) ◽  
pp. 41-60
Author(s):  
Ryszar Piasecki
Keyword(s):  
Health Reform ◽  
Pension System ◽  
Pension Reform ◽  
Public Hospitals ◽  
Medical Doctors ◽  
The Public ◽  
Pension Systems ◽  
Public Pension System ◽  
The World ◽  
State Subsidies

Health reform in Chile attemps to improve healthcare of the citizens. The authorities of the country managed to combine both the private (ISAPRE) and public systems FONASA). The biggest success was the creation of AUGE (state subsidies for 66 diseases). The unsolved problems are as follows: long waiting lists and shortages of beds in public hospitals, shortage of medical doctors and specialists. As far as the pension reform is concerned Chile was the first state in the world which in 1981 totally privatized the public pension system. Unfortunately, the fruit of changes in Chile is less optimistic (extremely low pensions) than it was initially assumed. According to specialists the only chance for a correct work of the pension system is introduction of the system which would combine two forms, i.e. a state intergenerational agreement and capital system.

Privatization of pension system in Chile and formation of new pension orthodoxy

2019 ◽  
pp. 40-54 ◽  
Author(s):  
Denis V. Melnik ◽  
Mikhail I. Miryakov
Keyword(s):  
Economic Policy ◽  
Latin America ◽  
Pension System ◽  
Pension Reform ◽  
Soviet Bloc ◽  
Actual Performance ◽  
Theoretical Concepts ◽  
Pension Systems ◽  
Design And Implementation ◽  
The World

In 1981 in Chile the Pinochet regime reformed the state-led PAYG pension system into the private pension system. Chilean experiment attracted the attention of both politicians and experts around the world and laid the foundations for the new pension orthodoxy. As a result, more than 30 countries (mostly in Latin America and in the former Soviet bloc) followed the Chilean model and privatized pension systems. The paper considers the design and results of the Chilean pension reform. The aim of the paper is to show the specific path of transformation of theoretical concepts into actual economic policy. The research provides two key results. The first is that although pension reforms of recent decades were influenced by the ideas of liberalism, their design and implementation in fact suited the pattern of the new paternalism characteristic of “neoliberalism”. The second is that implementation of the Chilean model in other countries was due to the persuasiveness of the discourse of the new pension orthodoxy rather than to actual performance of the Chilean pension system.

An assessment of the 2011 Spanish pension reform using the Swedish system as a benchmark

2013 ◽  
Vol 13 (3) ◽  
pp. 297-333 ◽  
Author(s):  
CARLOS VIDAL-MELIÁ
Keyword(s):  
Pension System ◽  
Pension Reform ◽  
Lessons Learned ◽  
Short Term ◽  
The Public ◽  
Public Pension System ◽  
Actuarial Fairness ◽  
The Us ◽  
Quantitative Analyses

AbstractThe aim of this paper is to make an assessment of the 2011 reform of the public pension system in Spain using the Swedish pension system as a benchmark, although some reference to the US pension system is also made. The paper focuses on the reform, explaining its aims, breaking down the main contents, critically examining the official view and describing the expected ageing of the Spanish population. This approach complements the quantitative analyses performed by other researchers and will enable us to assess the reformed system with the focus on four main areas: actuarial fairness, actuarial transparency, solvency and communication with the public. The main conclusion is that the reform was a wasted opportunity given that Spain did not take advantage of the lessons learned in Sweden, it did not include any elements for improving the management of pay-as-you-go systems, and there is no sound basis for claiming that the system's sustainability is assured in the medium term, the long term or even the short term. The new parametric reforms currently under consideration in Spain are targeted to correct some of the pension system's design faults that have been highlighted in this paper.

scholarly journals THE FINANCIAL CRISIS OF THE PUBLIC PENSION SYSTEM IN SPAIN

ADVOCATUS ◽  
2018 ◽  
pp. 163-174
Author(s):  
Linda Elena Nader Orfale ◽  
Saúl Eduardo Pérez De La Rosa
Keyword(s):  
Older Persons ◽  
Considerable Increase ◽  
Pension System ◽  
The Elderly ◽  
Developed Countries ◽  
Public Pension ◽  
The Public ◽  
Public Pension System ◽  
The World ◽  
The Right

Both Colombia and Spain are states that face overcrowding of the elderly in their pension system, according to the figures presented at the II World Assembly on Aging in Madrid (UN, 2002), which discussed issues of a considerable increase in the population of older adults, not only in Developed countries, but in all countries of the world. This increase in the elderly population has caused financial problems to the different pension systems in the world with respect to sustainability and the funds available to guarantee the right to a pension for older persons of retirement age. In Spain, especially, it is said that there is an imminent crisis in the Public Pension System. With the following article, it is aim to analyze the Spanish public pension system, describing its components and the incidence of its changes since the 1978 constitution

Sweden: an extended working life policy that overlooks gender considerations

2017 ◽  
Author(s):  
Clary Krekula ◽  
Lars-Gunnar Engström ◽  
Aida Alvinius
Keyword(s):  
Gender Equality ◽  
Pension System ◽  
Financial Burden ◽  
Working Life ◽  
Close Relative ◽  
Policy Debate ◽  
The Public ◽  
Public Pension System ◽  
The Social ◽  
Social Security Scheme

The Swedish government policy on extended working life has since its introduction in the mid-1990s aimed to lower the costs of the public pension system and to reduce the financial burden for workers. By focusing on an idealised category of those who are "willing and able to work longer", the policy has neglected the obstacles faced by those with physically demanding jobs or with a big responsibility to care for a close relative. This mainly affects women and upholds a neoliberal view of older people. By only problematizing gender perspective on the challenges to gender equality in working life, a narrow understanding of gender equality is created which deviates from other national gender equality policies. The policy debate thereby contributes also to excluding older women and men from the Swedish gender equality project. Despite the argument that an extended working life is needed to ensure the value of pensions, this does not apply to those who are unable to continue working - they are instead expected to rely on the social security scheme.

scholarly journals A Critical View on Pension Savings in Slovakia

2021 ◽  
Vol 101 (4) ◽  
pp. 370-382
Author(s):  
Jana Špirková ◽  
Martin Dobrovič ◽  
Miroslava Vinczeová
Keyword(s):  
Pension System ◽  
Investment Fund ◽  
Monthly Basis ◽  
Critical View ◽  
Pension Systems ◽  
Administrative Costs ◽  
The World ◽  
Almost All

In almost all countries around the world, pension systems are based on several pillars. This is also the case of Slovakia with its three-pillar pension system. The paper presents a case study underlying the risks that can seriously affect the amount of future pensions. The case study clearly indicates that current pensions in Slovakia paid under all three pillars do not correspond with the expectations from the implementation of the three-pillar pension system. The aim of the paper is to the risks that can seriously affect the amount of future pensions. Our own contribution is the determination of the amount of pension for a specific pensioner specified in the presented case study. Within the saving phase of pension contributions the development of investment fund returns, the amount of future pensioner´s contributions, as well as administrative costs are analyzed on a monthly basis. The payout phase is modelled using actuarial functions applying the mortality tables of Slovakia.

Iceland's New Plan for Debt Relief: Jubilee or Waiting for Godot?

2014 ◽  
Vol 5 (4) ◽  
pp. 517-530
Author(s):  
Maria Elvira Méndez Pinedo
Keyword(s):  
Pension System ◽  
Pension Reform ◽  
Debt Relief ◽  
Economic Recovery ◽  
European Law ◽  
Future Scenario ◽  
The Public ◽  
Long Run ◽  
Waiting For Godot ◽  
Loan System

Despite Iceland's economic recovery, nearly 48% households continue to struggle to make ends meet. This study argues, first, that the main reason behind over-indebtedness in this country is a loan system without parallel in Europe, based on a triple cost of credit (fix/variable interest, indexation of credit to inflation and negative amortization). Second, the problem is examined in the context of European law as some alleged malpractices of indexation have been referred to the EFTA Court. Third, the focus shifts to the debt-relief programme presented by the Icelandic government in 2013/2014 after the relative failure of previous debt-relief measures. It is argued that this plan will fail in the long run as long as the indexation of credit to inflation is not abolished. The private pension system in Iceland relies indirectly on indexed mortgage credit issued by the public Housing Financing Fund. Since a ban on indexation and a holistic pension reform are not expected soon, all present debt write off benefits will surely be eaten up by higher inflation. As long as indexation of credit is legal, the future scenario resembles less a debt-relief jubilee and more the theater play “Waiting for Godot ”.

Die Finanzierungslücke der Gesetzlichen Rentenversicherung in Deutschland – Eine Simulationsstudie zu Lösungsmöglichkeiten

2014 ◽  
Vol 63 (2) ◽  
Author(s):  
Steffen Bollacke
Keyword(s):  
Pension System ◽  
Population Aging ◽  
Financial Burden ◽  
Public Pension ◽  
Demographic Factor ◽  
Public Pensions ◽  
Calculation Formula ◽  
Pension Systems ◽  
Public Pension System ◽  
Reform Processes

AbstractPopulation aging challenges pay-as-you-go pension systems. Solving the associated funding problem constantly motivates reform processes. In addition to an aging population, specific regulations of the German public pension system lead to an increasing financial burden of national finances. To ensure sustainable funding of pensions, the calculation formula of the German public pension system will be investigated in this paper. It will be shown, that there are two alterable parameters, which are not optimally used regarding the funding of public pensions. Simulations show that a variable demographic factor to calculate public pensions can reduce the financial burden of national finances.

scholarly journals On the Fairness of Early-Retirement Provisions

2010 ◽  
Vol 11 (1) ◽  
pp. 60-77 ◽  
Author(s):  
Friedrich Breyer ◽  
Stefan Hupfeld
Keyword(s):  
Discount Rate ◽  
Early Retirement ◽  
Pension System ◽  
Retirement Age ◽  
Annual Income ◽  
The Public ◽  
Public Pension System ◽  
Retirement Benefit ◽  
German System ◽  
Crucial Parameter

Abstract A crucial parameter for increasing the retirement age is the early retirement discount of the public pension system. Critics of the present German system argue that the downward adjustment of the pension for early retirees is too small compared with a ‘fair’ system and thus encourages early retirement. We discuss several notions of ‘fairness’ of early-retirement provisions and propose a concept called ‘distributive neutrality’, which states that the ratio between total benefits and total contributions should not depend systematically on the individual’s ability. By applying this concept to the German retirement benefit formula and taking empirically estimated relationships between annual income (as a proxy for ability), life expectancy and retirement age into account, we show that at the present discount rate of 3.6% per year there is redistribution from low to high earners, which, surprisingly, could be attenuated by raising the discount rate.

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