The Challenge of Public Pension Reform in Advanced and Emerging Economies
Policy Papers, December 28, 2011
Source details
- Canonical URL
- The Challenge of Public Pension Reform in Advanced and Emerging Economies
Other formats
Bibliographic details
- Published: December 28, 2011
- Series: Policy Papers
Summary
- Reviews past trends in public pension spending and provides projections for 27 advanced and 25 emerging economies over 2011–2050.
- Incorporates the impact of recent pension reforms into the projections.
- Highlights key assumptions underlying the projections and associated risks.
- Presents reform options to address future pension spending pressures in advanced and emerging economies.
- Examines the challenge for emerging economies of expanding coverage in a fiscally sustainable manner.
Projections and Scope
- Coverage: 27 advanced economies and 25 emerging economies.
- Projection horizon: 2011–2050.
- Projections incorporate the impact of recent pension reforms.
Key Findings and Analytical Focus
- Past trends in public pension spending are reviewed and used as a basis for projections.
- The paper highlights the assumptions that underlie projected pension spending trajectories and emphasizes associated risks.
- Special attention to the challenge in emerging economies of expanding pension coverage while maintaining fiscal sustainability.
Reform Options Discussed
- Increasing retirement ages.
- Reducing replacement rates.
- Increasing payroll taxes.
- The reforms are discussed in the context of:
- Their role in fiscal consolidation.
- Implications for equity.
- Implications for economic growth.
Themes on Policy Trade-offs
- Balancing fiscal consolidation needs with equity considerations.
- Assessing effects of pension reforms on economic growth.
- Designing sustainable expansion of pension coverage in emerging economies.
Publication Metadata (from source)
- Title: The Challenge of Public Pension Reform in Advanced and Emerging Economies
- Publication date: December 28, 2011
Source: The Challenge of Public Pension Reform in Advanced and Emerging Economies (IMF policy paper).
Content in this bundle
- Executive Summary