The Challenge of Public Pension Reform in Advanced and Emerging Economies
Occasional Papers, January 25, 2013
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Bibliographic details
- Authors: Benedict J. Clements, David Coady, Frank Eich, Sanjeev Gupta, Alvar Kangur, Baoping Shang, Mauricio Soto
- Published: January 25, 2013
- Series: Occasional Papers
- DOI: https://doi.org/10.5089/9781616354138.084
Summary and central findings
- Pension reform is high on the policy agenda of many advanced and emerging market economies.
- In advanced economies the challenge is generally to contain future increases in public pension spending as the population ages.
- In emerging market economies:
- Where pension coverage is extensive, the issues are similar to those in advanced economies.
- Where pension coverage is low, the key challenge will be to expand coverage in a fiscally sustainable manner.
- The volume examines the outlook for public pension spending over the coming decades and the options for reform in 52 advanced and emerging market economies.
Subjects and keywords
- Subject: Aging, Pension reform, Pension spending, Pensions, Retirement
- Keywords: economy, emerging market economy, IMF staff estimate, OP, pension, retirement age
Scope and analytical focus
- Geographic/sample scope: 52 advanced and emerging market economies.
- Timeframe emphasis: outlook for public pension spending over the coming decades (as stated).
- Core analytical objectives:
- Assess projected public pension spending trajectories.
- Identify reform options to contain spending or expand coverage sustainably depending on country context.
Target policy implications and reform priorities (as presented)
- For advanced economies: prioritize policies to contain future increases in public pension spending driven by population aging.
- For emerging market economies:
- In countries with extensive pension coverage: adopt measures similar to those suitable for advanced economies to contain spending pressures.
- In countries with low pension coverage: design strategies to expand coverage while maintaining fiscal sustainability.
Source: The Challenge of Public Pension Reform in Advanced and Emerging Economies, International Monetary Fund, January 25, 2013