Pension Reform in the Baltics, Russia, and other Countries of the Former Soviet Union (BRO)
February 1, 1998
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Summary
Despite their increasing fiscal burden, the public pension systems of BRO countries are failing to provide adequate social protection. Although there is a broad consensus about the need for pension reforms, BRO countries are debating whether to embark on systemic reforms or whether to correct the distortions in their pay-as-you-go (PAYG) pension systems. The paper reviews the measures taken by BRO countries during the transition period to address their pension problems and examines the options for further reform. It makes a strong case for a gradual reform approach aimed at establishing a multi-pillar system over the long run, but initially focused on implementation of “high-quality” reforms of the PAYG system.
Subject: Aging, Expenditure, Labor, Pension reform, Pension spending, Pensions, Population and demographics, Retirement
Keywords: Aging, Baltics, BRO country, contribution rate, country, country authorities, coverage ratio, early retirement, PAYG system, pension, pension provision, Pension Reform, Pension spending, pension system, Pensions, Retirement, retirement age, Social Protection, Transition, WP
Pages:
40
Volume:
1998
DOI:
Issue:
011
Series:
Working Paper No. 1998/011
Stock No:
WPIEA0111998
ISBN:
9781451842753
ISSN:
1018-5941
