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Journal articles on the topic 'Funded pension system'

Author: Grafiati
Published: 3 June 2025
Last updated: 31 July 2025

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1

Kobayashi, Wataru, and Junichiro Takahata. "A Funded Pension System with Endogenous Retirement." Asian Journal of Economic Modelling 10, no. 3 (2022): 207–15. http://dx.doi.org/10.55493/5009.v10i3.4569.

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This study employs an overlapping generations model to analyze the effect of public pension levels on economic variables when the labor supply of the elderly is determined endogenously. This paper focuses on the effects of a funded scheme on the economy as well as a pay-as-you-go (PAYG) scheme. First, the impact of the expansion of public pensions on the capital–labor ratio is analyzed. It is shown that the expansion of a funded pension increases the capital–labor ratio, which is contrasted with the fact that the PAYG pension is neutral to capital–labor ratio. Next, the impact of public pensio
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2

Poškutė, Virginija, Tadas Gudaitis, Teodoras Medaiskis, and Jaroslav Mečkovski. "SEARCH FOR SUSTAINABLE PENSION SYSTEM AND STATE SUPPORT FOR FUNDED PENSIONS IN CEE COUNTRIES." Business: Theory and Practice 23, no. 2 (2022): 313–22. http://dx.doi.org/10.3846/btp.2022.16250.

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Pension systems around Europe are being reformed for several decades already. Main objectives of the reforms are to enable people to have adequate income at retirement and to ensure the system’s financial sustainability. Many European countries implemented policies aiming at diversification of financing sources of income at older age: risk-sharing between pay-as-you-go and funded pensions is expected to help in achieving social policy objectives towards pension systems. Central and Eastern European countries (CEE) face even more challenges in ensuring adequate income at retirement. First, CEE
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3

Шрам, Валерий, and Valeriy Shram. "PENSION INSURANCE REFORM IN CROATIA AT THE PRESENT STAGE." Journal of Foreign Legislation and Comparative Law 1, no. 4 (2015): 0. http://dx.doi.org/10.12737/14270.

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The article analyzes the pension insurance reform in Croatia, which marked the beginning of a three-level pension system formation. The first level includes old-age pensions, disability pension and survivors pension as part of the compulsory pension insurance system. The second level includes pensions on the basis of the compulsory pension insurance with a saving element. The third level is based on the voluntary pension insurance system. The author reveals the conditions for granting non-contributory pensions, non-contributory pensions with a saving element as well as conditions for granting
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Burdenyuk, Svitlana. "PROSPECTS FOR THE DEVELOPMENT OF FUNDED PENSION PROVISION IN UKRAINE." INNOVATIVE ECONOMY, no. 5-6 (August 2020): 142–47. http://dx.doi.org/10.37332/2309-1533.2020.5-6.18.

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Purpose. The aim of the article is the analysis of the pension system of Ukraine and directions of its reform, clarification of the role of accumulative pension insurance in the system of social protection of the population, as well as study of the prospects for the introduction of a mandatory accumulative pension system in Ukraine. Methods of research. During the research, special economic literature related to the introduction and use of the funded pension system was developed, various economic methods are used, relevant normative and instructive documents in the field of pension provision,
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SYDOR, Iryna, and Tetiana DENYSIUK. "STATE PENSION INSURANCE IN UKRAINE: MODERN CHALLENGES AND DIRECTIONS OF REFORM." WORLD OF FINANCE, no. 1(70) (2022): 22–35. http://dx.doi.org/10.35774/sf2022.01.022.

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Introduction. Reforming the pension system in Ukraine is associated with the need to introduce a second funded level of pension insurance in the face of a steady deficit of the Pension Fund, the presence of significant shortcomings in the mechanism for calculating pension payments that do not depend on the volume of contributions paid for compulsory state pension insurance of the level of pensions, the level of which in the conditions the constant rise in prices for essential goods and services causes the impoverishment of the population. The purpose of the article is to conduct a comprehensiv
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Usonalieva, D. A., and L. N. Dzhalilova. "PROSPECTS FOR THE DEVELOPMENT OF STATE REGULATION OF PENSION PROVISION FOR THE POPULATION." Vestnik Bishkek state university af K Karasaev 3, no. 69 (2024): 237–42. https://doi.org/10.35254/bsu/2024.69.36.

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This article explores the issues with Kyrgyzstan's pension system post-USSR and its potential reforms. This highlights the importance of providing a decent living standard for pensioners and enhancing public financial literacy regarding pensions. The global pension system trends are reviewed, including maintaining state distribution systems with voluntary accumulative elements, raising the retirement age, and shifting to private pension insurance. Key deficiencies in Kyrgyzstan's pension system were identified: low financial literacy, poor interaction between the State Accumulative Pension Fun
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Borzutzky, Silvia, and Mark Hyde. "Chile's private pension system at 35: impact and lessons." Journal of International and Comparative Social Policy 32, no. 1 (2016): 57–73. http://dx.doi.org/10.1080/21699763.2016.1148623.

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This paper provides an analysis of Chile's 35 year experience with defined contribution, fully funded pensions and argues that this pension approach should not be emulated by countries seeking to reduce the state role in the provision of pensions. The paper shows that 35 years of privatized pensions have led to a massive accumulation and concentration of capital and profits in the hands of the pension fund administrators and insufficient and unequal pensions for the retirees. This legacy of the Pinochet dictatorship has experienced marginal reforms after the transition to democracy. However, t
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8

Simonovits, A. "New results in pension modelling." Acta Oeconomica 51, no. 2 (2001): 173–200. http://dx.doi.org/10.1556/aoecon.51.2000-2001.2.2.

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In a former paper (Simonovits, 1999), I have discussed the problems of the new Hungarian pension system verbally. In this paper I will present some new results obtained by others and myself with mathematical models, which are related to the Hungarian pension reform (see e.g. Palacios and Rocha, 1998). (1) How can one model a pension system with the life-cycle theory? (Of course, this is introduction rather than new result.) (2) How is the model of a funded system modified if volatility of yields and operating costs are taken into account? (3) What would the actuarially fair model be in an unfu
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9

Kulikova, Tatiana. "Funded pensions under the conditions of consistently low and negative interest rates." Population 22, no. 4 (2019): 51–61. http://dx.doi.org/10.19181/1561-7785-2019-00038.

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developed countries sovereign bonds yields are going down, and this trend has been going on for a few decades already. Currently, in most countries whose sovereign debt is considered safe even long-term government bonds' nominal yields are close to zero (or even negative), and their real (i.e. inflation-adjusted) yields are even lower. This means that today there are virtually no safe assets in which pension funds could invest their clients' retirement savings with reasonably high rate of return. Therefore pensions funds in order to provide even barely satisfactory returns to their clients tur
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10

ACHKASOVA, Svitlana. "The influence of the risk-oriented system of funded pension provision on the socio-economic security of the state." Economics. Finances. Law 11/3, no. - (2021): 5–7. http://dx.doi.org/10.37634/efp.2021.11(3).1.

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Introduction. The implementation of a risk-oriented approach is an important issue for implementation in various fields. The purpose of the paper is to assess the impact of the risk-oriented system of funded pension provision on the socio-economic security of the state. The method of analysis of T. Saati's hierarchies was used to assess the impact of the instruments of the risk-oriented system of accumulative pension provision on the socio-economic security of the state. Results. The highest priority is given to 3 instruments: use of tools for identification and formation of risk profile of ac
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11

Rajevska, Olga. "Theoretical Old-Age Pension Benefits and Replacement Rates in the Baltic States: A Retrospective Simulation." Economics and Business 28, no. 1 (2016): 13–19. http://dx.doi.org/10.1515/eb-2016-0002.

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Abstract The author presents a comparative analysis of old-age pension systems in Estonia, Latvia and Lithuania using a method of retrospective simulation run on a self-developed model. The model baseline case is a person retiring in December 2014 after 40 years of service with nationwide average salary. Other cases include low and high-earners, funded schemes participants and simulations for modified notional capital valorisation formulae. Three study countries return very dissimilar results, which is caused by differences in their pension systems’ designs. Lack of non-contributory element (b
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12

Tabakh, A. "Introducing Funded Pension Systems: International and Russian Experience." Voprosy Ekonomiki, no. 5 (May 20, 2010): 138–48. http://dx.doi.org/10.32609/0042-8736-2010-5-138-148.

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The article reviews international experience of the pension reform switching from PAYG pension system toward funded or mixed ones. Issues related to reception of new institutions and changes in institutional environment are considered, recommendations on correction of the Russian pension system are formulated. Global experience shows that funded pension systems were successfully introduced either by democratic political regimes based on consensus or by dictatorships using authoritarian methods. In the latter case, reform plans were corrected as implementation proceeded. Stability of the reform
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13

Rudyk, Vоdymyr, and Ivanna Cheshnevska. "Peculiarities of Formation of the System for Protection of Pension Assets of Accumulative Pension Programs." Oblik i finansi, no. 1(95) (2022): 59–64. http://dx.doi.org/10.33146/2307-9878-2022-1(95)-59-64.

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European countries widely use multi-level pension systems, and Ukraine has also gone the way of building a three-level pension model. The use of funded pension programs is associated with the need to create a system of preservation and protection of their pension assets from the manifestations of various risks. The article aims to reveal the peculiarities of the formation of the system of protection of pension assets of accumulative pension programs and to determine the state's role in improving its reliability and efficiency. In Ukraine, the state has a key role in shaping the protection syst
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14

ZUBYK, Serhii. "FUNDED PENSION PROVISION AS A FACTOR OF ECONOMIC DEVELOPMENT." Economy of Ukraine 2018, no. 11-12 (2018): 71–81. http://dx.doi.org/10.15407/economyukr.2018.11.071.

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The important goal of the funded pension provision is to create developmental effects since pension payments from all components of the pension system, funded or non-funded one, are financed out of a country’s output. In the context of financial intermediation, the funded pension provision (compulsory state system of funded pension insurance and system of non-state pension provision) contributes to economic growth through, firstly, transformation of long-term savings into long-term investments, and secondly, promotion of technological changes and structural shifts in the economy. In Ukraine, t
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15

Cheberyako, O., and V. Bykova. "Models of the pension system: international experience and local practice." Bulletin of Taras Shevchenko National University of Kyiv. Economics, no. 212 (2020): 43–51. http://dx.doi.org/10.17721/1728-2667.2020/212-5/6.

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The article substantiates the nature of the national models of the pension system and its structure in accordance with the concept of the Organization for Economic Co-operation and Development (OECD). The basis of the national models of pension system are two well-known models of social security: Bismarck and Beveridge Social Insurance Systems. Thus, authors prepared the comparison of this models. The features of pension system in the countries of Europe (Germany, Great Britain, Sweden, Poland), the United States and Chile are analysed. The analysis of the national models of the pension system
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16

Burdeniuk, Svitlana. "THE INFLUENCE OF ACCUMULATIVE PENSION PROGRAMMES ON THE EFFICIENCY OF THE FUNCTIONING OF NATIONAL PENSION SYSTEMS OF THE EASTERN EUROPEAN COUNTRIES AND UKRAINE." Green, Blue & Digital Economy Journal 2, no. 1 (2021): 24–30. http://dx.doi.org/10.30525/2661-5169/2021-1-4.

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The aim of the scientific article is to study the peculiarities of the operation of funded pension systems in Eastern Europe, determine their advantages, disadvantages, the impact of various factors on their efficiency, assess the role of funded pension insurance in them and to justify their positive experience in pension reform оf Ukraine. Research methods. When writing a scientific article, appropriate research methods were used: balance, monograph methods, the method of statistical grouping and tables, methods of analysis using generalizing indicators: absolute and relative, averages and ti
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17

Yurovska, Viktoriia. "Accumulative pension system: current issues." Law and innovations, no. 2 (34) (June 18, 2021): 52–57. http://dx.doi.org/10.37772/2518-1718-2021-2(34)-6.

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Problem setting. The pension system is an area in which economic and social relations are intertwined. Its functioning depends on external and internal factors, at the same time the pension system itself has a very diverse impact on various processes of society, including the processes of reproduction of labor. We must state that the process of reforming the pension system in Ukraine has always been too politicized, which has led to inconsistent actions and unsatisfactory results in the long run. None of the Ukrainian governments has been able to achieve a decent standard of living for the eld
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18

Alekseyenko, Lyudmyla. "Accumulative pension system in Ukraine: theoretical and applied discourse." Herald of Economics, no. 1(99) (February 1, 2021): 22. http://dx.doi.org/10.35774/visnyk2021.01.022.

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Introduction. The study of theoretical and empirical aspects of the accumulative pension system should help to identify patterns and contradictions of its development in society. In order to conduct an effective economic policy on the introduction of a funded pension system, it is necessary to define a theoretical concept of a model of the active role of the state in socio-economic processes or a moderate liberal model. Reforming the pension system is a rather long process and requires both the definition of the main directions, principles and measures for the development of the funded pension
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19

Khmelevskaya, Svetlana, and Tatiana Esaulkova. "SEARCHING FOR A NEW CONFIGURATION OF THE RUSSIAN PENSION SYSTEM: REFORMING THE INSTITUTION OF A FUNDED PENSION." Public Administration Issues, no. 4 (2021): 36–65. http://dx.doi.org/10.17323/1999-5431-2021-0-4-36-65.

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The focus of the study is placed on the institute of funded pension, which has been repeatedly transformed throughout its existence. In this regard, the first part of the article analyzes the results of the theoretical comprehension of forming the accumulative element of the pension system, presented in foreign sources, as well as reforms in a number of countries. The next round of reforming the institution of funded pension in the Russian pension system is associated with its transformation from a system of obligatory pension insurance to a system of non-state pension provision. Based on the
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20

Nepp, Alexander, and James Okrah. "FINANCIAL AND SOCIAL SUSTAINABILITY PENSION SYSTEMS IN THE FACE OF DEMOGRAPHIC RISKS." CBU International Conference Proceedings 5 (September 23, 2017): 331–36. http://dx.doi.org/10.12955/cbup.v5.947.

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The ongoing distribution of the pension system is on the threshold of losing its sustainability, financially, which has produced a deficit in the budget of the Pension Fund of the Russian Federation and the deflection of pension funds to the distribution system in 2014. This situation was to some extent caused by demographic risks. Funded systems could become the main instrument for mitigating the demographic problem of the distribution pension system. But the problem is, these systems are unprotected to demographic risks as well.The paper examines the effect of demographic uncertainty on fund
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21

Bitkina, I. K. "Efficiency of the Funded Elements of the Pension System: International Practices." Finance: Theory and Practice 24, no. 5 (2020): 24–40. http://dx.doi.org/10.26794/2587-5671-2020-24-5-24-40.

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The author summarizes key science theories of the funded pension system and its development. The aim of the article is to review and discuss the studies on the efficiency of the funded elements of the pension system from the perspective of international practices. The research methods included generalization; classification and comparative analysis of theoretical and methodological approaches to evaluating the efficiency of a pension system and its elements; abstraction, which allowed us to classify existing pension plans on the basis of the materials presented in the paper; as well as scienti
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22

Kompa, Krzysztof, and Dorota Witkowska. "Pension System in Poland: Performance of Pension Funds." Studies of Applied Economics 33, no. 3 (2020): 965–84. http://dx.doi.org/10.25115/eea.v33i3.3142.

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The significant increase of the old-age-dependency ratio in Poland after the collapse of the centrally planned economy required transformation of the retirement system to adopt it to the current situation. Therefore the essential reform of the pension system in Poland took place in 1999, when the one-pillar – pay as you go system was replaced by the three-pillars system consisting of mandatory, pay-as-you-go pillar; mandatory, fully funded pillar; and voluntary, funded pillar. However problems concerning budget deficit in Poland caused that the Polish government introduced essential changes co
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23

Nijhof, Erik. "Pensions and Providence: Dutch Employers and the Creation of Funded Pension Schemes." Enterprise & Society 10, no. 2 (2009): 265–303. http://dx.doi.org/10.1017/s1467222700008016.

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From an international perspective, the Dutch system of old age provisions stands out for its wide coverage, fixed benefits, and an overall actuarial soundness that seem to make this system more shock proof to demographic shifts and economic adversities than those in other “Western” countries. Its actual foundation is a compulsory old age insurance for all citizens, enforced by law and implemented by the state; this insurance is supplemented by fully funded pension schemes for workers and employees, operating under legal control; and finally there is a variety of additional and noncompulsory pe
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Makarski, Krzysztof, Jan Hagemejer, and Joanna Tyrowicz. "ANALYZING THE EFFICIENCY OF PENSION REFORM: THE ROLE OF THE WELFARE EFFECTS OF FISCAL CLOSURES." Macroeconomic Dynamics 21, no. 5 (2016): 1205–34. http://dx.doi.org/10.1017/s1365100515000383.

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Replacing the pay-as-you-go defined benefit (PAYG DB) system with an at least partially funded defined contribution (DC) system generates fiscal costs that need financing. The fiscal closures at hand differ by the channel and the extent of distortions. The main contribution of this paper is a thorough comparison of the welfare effects of the various fiscal closures of the pension system reform. In addition, we decompose the welfare effects to the parts attributable to changing the way pensions are financed (PAYG ⇒ prefunding) and to changing the way pensions are computed (DB ⇒ DC). We show tha
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Jorg Michael, Dostal. "Nigerian Pension Reform 2004-2010: Great Leap or Inappropriate Policy Design?" Korean Journal of Policy Studies 25, no. 2 (2010): 13–37. http://dx.doi.org/10.52372/kjps25202.

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This paper analyses early results of the 2004 Nigerian pension reform. At the beginning of 2010, the new system of privately managed, funded pension accounts covered around four million Nigerians in a country with a workforce of around 50 million people. The study focuses on shortcomings of the new system. Most crucially, the reform has failed to contribute to basic social security in old age for the majority of Nigerians employed in the informal sector. Moreover, the minority of covered workers are also likely to experience problems. The study demonstrates in a model calculation that the fund
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Mamatkazin, I. R. "Structural-Functional Analysis of a Pension as an Object of Pension Legal Relations." Siberian Law Review 18, no. 2 (2021): 138–50. http://dx.doi.org/10.19073/2658-7602-2021-18-2-138-150.

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The pension system of the Russian Federation has undergone three fundamental reforms. In 1992, the first law on pensions began to operate in Russia, which significantly differed from the Union legislation. In 2002, insurance principles were introduced into the pension system, which led to a change in the entire system of pension coverage for persons working under an employment contract, including new types of pension coverage. In 2015, there was a significant reform of the existing insurance pension system, which in its significance is no less significant than all the previous changes in the p
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Giguashvili, Giuli, Maka Salkhinashvili, Tamar Makasarashvili, and Davit Bidzinashvili. "Funded pension system of Georgia and its legal regulation mechanisms." InterConf, no. 48(213) (August 19, 2024): 77–90. http://dx.doi.org/10.51582/interconf.19-20.08.2024.007.

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Against the backdrop of the financial, demographic, and economic challenges facing the modern civilized world, the increase and aging of the population, the rise in life expectancy, and the activation of migration processes, it is especially relevant to research issues related to the perfection of the pension system in any country, including Georgia. The pension system is one of the primary mechanisms determining the well-being and quality of life of the elderly population. In Georgia, it is a significant tool in the fight against poverty. The working-age population in our country has signific
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FRASSI, BENEDETTA, GIORGIO GNECCO, FABIO PAMMOLLI, and XUE WEN. "Intragenerational redistribution in a funded pension system." Journal of Pension Economics and Finance 18, no. 2 (2018): 271–303. http://dx.doi.org/10.1017/s147474721700049x.

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AbstractIn a general equilibrium framework, this paper studies the properties, in terms of labour market distortions and capital accumulation, of three social security systems: a pay-as-you-go notional defined contribution (PAYG NDC), a fully funded (FF), and a novel modified FF (MFF) system, which includes an intragenerational redistributive component to guarantee minimum living standards to future low-income retirees. We show that while PAYG NDC depresses labour supply and physical capital accumulation, FF is neutral on both dimensions. Conversely, MFF slightly increases physical capital acc
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Poznyakova, O., N. Panchuk, and O. Burtseva. "Analysis of Reforming the Pension System of Ukraine: Implementation Problems and Development Prospects." Economic Herald of the Donbas, no. 4 (62) (2020): 155–60. http://dx.doi.org/10.12958/1817-3772-2020-4(62)-155-160.

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Pension provision is an element of the pension system that ensures sustainable socio-economic development of the state as a whole. The article discusses the current problems of the pension system in Ukraine, ways to overcome and directions for its improvement. Determination of the further development and reform of the pension system aimed at ensuring the financial stability of the solidarity system. Introduction of the development of the pension system, taking into account the peculiarities of the current situation in the country, ways of reforming social insurance. The compulsory accumulative
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Єлагін Віктор Павлович та Мартиненко Наталія Василівна. "АДМІНІСТРУВАННЯ ПЕНСІЙНИХ ВНЕСКІВ В КРАЇНАХ – ЧЛЕНАХ ЄВРОПЕЙСЬКОГО СОЮЗУ: ДОСВІД ДЛЯ УКРАЇНИ". International Academy Journal Web of Scholar, № 2(44) (28 лютого 2020): 3–12. http://dx.doi.org/10.31435/rsglobal_wos/28022020/6910.

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 The article analyzes the state management of pension systems for the organization of the exercise of powers to administer pension contributions in the countries − members of the European Union. The models of organization of administration of pension contributions are investigated. As suggestions for priority areas of modernizing the pension system of Ukraine on the example of the experience of countries − members of the European Union, the following are highlighted: attracting employees to participate in financing the pension system; the introduction of mandatory funded pe
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Poteraj, Jarosław. "System emerytalny w kraju karteli — przypadek Kolumbii." Ekonomia 23, no. 3 (2018): 73–90. http://dx.doi.org/10.19195/2084-4093.23.3.6.

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Pension system in the country of the cartels: the case of ColombiaThe 1993 reform was the most important change, ordering many elements of Colombian retire­ment. Today, the Colombian pension system is characterized by parallel pay-as-you-go and funded schemes, which creates inefficiencies in administration because of its complexity and consequently in­creases systemic costs. Asystem that is formally defined as atwo-pillar system is actually a three-pillar solution, based on the principle of competition between the components. Linking a minimum pension with aminimum wage is asignificant source
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Yeh, Chung-Yang, Hyunwook Cheng, and Shih-Jiunn Shi. "Public–private pension mixes in East Asia: institutional diversity and policy implications for old-age security." Ageing and Society 40, no. 3 (2018): 604–25. http://dx.doi.org/10.1017/s0144686x18001137.

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AbstractPrevious studies of East Asian welfare regimes focus on similarities between social security schemes. In contrast, this paper explores cross-national variations in public–private pension mixes in six welfare states: China, Hong Kong, Japan, Singapore, South Korea and Taiwan. Our research echoes the pension policy analysis of international organisations but takes a step forward with emphasis on the historical and institutional characteristics of the respective pension systems. The analysis identifies three institutional patterns. First, the statist pension system (Taiwan and China) prim
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33

Burdenyuk, Svitlana. "LEGAL PREREQUISITES FOR INTRODUCTION OF MANDATORY ACCUMULATIVE PENSION INSURANCE." Economic Analysis, no. 30(3) (2020): 63–71. http://dx.doi.org/10.35774/econa2020.03.063.

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Introduction. The priority of overcoming social tensions in society is a decent pension, which is one of the types of social guarantees of the state to its citizens, which should be protected by the legislation of Ukraine. Legislation and regulations are important means of regulating relations between the state and citizens in the field of pension insurance. Accumulative pension provision has been under discussion for more than a year, and it is the lack of a reliable legal framework that suspends its implementation. The article analyses the legal aspects of the introduction of funded pension
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Shvandar, Kristina V., and Anastasia A. Anisimova. "Approaches to Reforming Pension Systems in the World and Recommendations for Russia." Financial Journal 13, no. 1 (2021): 125–35. http://dx.doi.org/10.31107/2075-1990-2021-1-125-135.

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Global trends in the pension sector show that a funded pension, in addition to a pay-as-you-go component, increases the reliability of pension protection for retired people and improves the stability of the pension system. The article analyzes the main directions of reforms of both distribution and funded components. The common features of the considered pension systems are the presence of several levels and their effective interaction as well as the expansion of the role of accumulative pension systems. Reforms related to increasing the population coverage with accumulative pension plans are
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Кремповая, Н. Л., та О. А. Туева. "Особенности формирования пенсий в Российской Федерации". Bulletin of Science and Practice 372, № 7(8) (2016): 145–48. https://doi.org/10.5281/zenodo.58110.

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Данная статья посвящена основным направлениям формирования пенсий в современных условиях системы пенсионного страхования. Подробно проанализированы условия формирования накопительной и страховой части пенсии, нововведения в 2016 году. Рассмотрена также значимость пенсионного балла для будущих пенсионеров и роль негосударственных пенсионных фондов. В заключении работы, авторы делают вывод, что сочетание страховой и накопительной пенсии помогает создать наиболее устойчивую систему пенсионного обеспечения. Также данное сочетание создает инвестиционную основу для достойной жизни пенсионеров. This
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Pratama, Mahir, and Lina Miftahul Jannah. "The Challenge of the New PNS Pension Scheme in Indonesia: Pay as You Go to Be Fully Funded." Jurnal Public Policy 9, no. 1 (2023): 31. http://dx.doi.org/10.35308/jpp.v9i1.6203.

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The increase in the number of civil servants retiring every year and the high life expectancy makes the pension fund increase every year. With the pay as you go scheme currently implemented, the APBN's fiscal burden is even higher. For this reason, the government plans to change the civil servant pension system to a fully funded system. The purpose of this research is to look at the challenges in implementing a fully funded scheme for civil servant pensions in Indonesia. The research method uses a postpositivist approach with primary data obtained from interviews with informants from members o
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De La Peña, J. Iñaki, M. Cristina Fernández-Ramos, Asier Garayeta, and Iratxe D. Martín. "Transforming Private Pensions: An Actuarial Model to Face Long-Term Costs." Mathematics 10, no. 7 (2022): 1082. http://dx.doi.org/10.3390/math10071082.

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A common response in public pension systems to population ageing is to link pensions to observed longevity. This creates an automatic stabiliser that arises from the valuation of a private actuarially funded system. However, no private pension plan mechanism has been articulated to adapt to this ageing in relation to the increased costs it entails. Private pension plans focus on saving for retirement; capital is accumulated to pay for it. However, perceptions of health status change over time and, as retirement age approaches, concerns about long-term care (LTC) increase. Moreover, there is no
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Yakushkin, S. "Prospects for the development of pension reform in Russia." Bulletin of Science and Practice, no. 8 (August 15, 2017): 222–26. https://doi.org/10.5281/zenodo.843008.

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Due to insufficient pension provision for healthy life of citizens, the Russian pension fund in 2002 is reforming the pension system to optimize incoming funds and increase pension provision. In connection with this reform, the insurance and funded part of the pension is allocated. In the perspective of the development of pension provision, there is a tendency to increase the share of the funded pension. Nevertheless, it remains impossible to completely abandon the insurance pension. Six steps to replenish the budget of the Russian Pension Fund. Qualitative growth of pension provision.
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Wolf, Ishay, and Lorena Caridad López del Río. "Funded-capitalized pension designs and the demand for minimum pension guarantee." Public and Municipal Finance 10, no. 1 (2021): 12–24. http://dx.doi.org/10.21511/pmf.10(1).2021.02.

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Using funded and unfunded pillars, the optimal pension structure is estimated using an over-lapping generation model, calibrated to the average OECD countries. While simulating different pillar sizes, a socio-economic characteristic was revealed in which low-earning groups are prone to unexpected market risks than high-earning cohorts and support a larger contribution than better-off individuals. This led to high contribution rates for funded pillars and low contributions rates for social security pillars. This suboptimal allocation leads to inefficient hedging capability for the pension portf
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Voskanyan, Mariam. "Funded Pension System of Armenia: Problems, Development Prospects, Role in Economic Growth." Economic Archive, no. 1 (March 28, 2023): 3–23. http://dx.doi.org/10.58861/tae.ea-nsa.2023.1.01.en.

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The pension fund system, both in theory and in practice, solves many important problems from the point of view of the country's economic development. In particular, the social issue is being solved, in many respects it contributes to equalizing the incomes of the population, raising the level of the population of retirement age, and many other social and economic tasks. However, when it comes to developing markets, the funded pension system requires closer attention both from the side of supervision and from the point of view of the very mechanisms and principles for implementing the funded pe
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CHŁOŃ-DOMIŃCZAK, AGNIESZKA. "Impact of changes in multi-pillar pension systems in CEE countries on individual pension wealth." Journal of Pension Economics and Finance 17, no. 1 (2016): 110–20. http://dx.doi.org/10.1017/s1474747216000238.

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AbstractThe paper shows the impact of changes in multi-pillar pension systems in six Central and Eastern European countries for individual pension wealth. It demonstrates that the post-crisis changes in pension system reduced pension wealth of workers in Poland and increased in Lithuania and Slovakia. The change did not have significant impact on pension wealth in Estonia and Romania. The magnitude of this effect is highest in those countries where the reduction of the fully-funded pension contribution was permanent. Loss or gain in pension wealth varies with age of participants – it is higher
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42

Astuthy, Ritma Tri, Alitha Ulfah, and Tenriwaru Tenriwaru. "Analysis of the Perspective on Pension Fund Management: From Pay-As-You-Go to Fully Funded Systems." Contemporary Journal on Business and Accounting 4, no. 2 (2024): 1–15. https://doi.org/10.58792/cjba.v4i2.65.

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Purpose – The aim of this research is to examine the implementation of pension fund management through a fully funded scheme in the civil servant pension system in Indonesia. Design/methodology/approach – This research is designed using literature and journal review methods. The methodology involves selecting and collecting relevant data from literature and performing data analysis related to the implementation of the fully funded pension scheme. Findings – The research finds that Indonesia's government is not yet prepared to implement the fully funded pension scheme for civil servants, with s
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Wolf, Ishay, and Lorena Caridad López del Río. "Sustainability of funded pension schemes: A financial position perspective using options." Investment Management and Financial Innovations 18, no. 4 (2021): 111–19. http://dx.doi.org/10.21511/imfi.18(4).2021.10.

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This study offers in-depth knowledge of the socio-economic characteristics of funded pension projects. It is based on the financial position of pension market actors during the transition of the pension system to a more funded capitalized scheme, mainly through the option benefit model. This is possible due to the fact that the economy is not viewed as a single earning cohort. The study analytically demonstrates a socio-economic anomaly in the funded pension system, which is in favor of high-earning cohorts at the expense of low-earning cohorts. This anomaly is realized due to lack of insuranc
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Pavlova, Mariya, and Rayna Petrova. "The Emerging Changes in the Accounting Profession and the Accounting Practice Under The Influence Of Technology." Economic Archive, no. 1 (March 28, 2023): 24–40. http://dx.doi.org/10.58861/tae.ea-nsa.2023.1.02.en.

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The pension fund system, both in theory and in practice, solves many important problems from the point of view of the country's economic development. In particular, the social issue is being solved, in many respects it contributes to equalizing the incomes of the population, raising the level of the population of retirement age, and many other social and economic tasks. However, when it comes to developing markets, the funded pension system requires closer attention both from the side of supervision and from the point of view of the very mechanisms and principles for implementing the funded pe
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45

Haupt, Marlene. "Aktuelle Diskussionen zum Ausbau kapitalgedeckter Altersvorsorge als Ergänzung des Rentensystems." Wirtschaftsdienst 104, no. 2 (2024): 82–86. http://dx.doi.org/10.2478/wd-2024-0028.

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Abstract Germany faces complex challenges in ensuring adequate pensions and the financial sustainability of its pension system amid demographic aging, necessitating comprehensive reforms. The Focus Group on Private Pensions has proposed measures to reform the private Riester pension scheme, advocating, for example, the enhancement of simplicity, transparency and flexibility. Additionally, it has debated the introduction of a state-mandated fund. The German Council of Economic Experts has also proposed a state-mandated fund with automatic enrollment and an opt-out option. However, the proposal
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MOROZOVA, Elena A., Ol'ga N. KOZLOVA, and Daniil O. CHERNEI. "Periodization of stages of the Russian Federation pension system reforming." Finance and Credit 30, no. 6 (2024): 1360–80. http://dx.doi.org/10.24891/fc.30.6.1360.

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Subject. This article examines the pension system of Russia in the period from 1990 to the present, the step-by-step process of its formation, development, reform, and accompanying problems. Objectives. The article aims to periodize the process of pension reforming in post-Soviet Russia, describe the main stages, summarize the transformations, and assess the further prospects of the pension system. Methods. For the study, we used comparative, statistical, analytical, and chronological methods. Results. The article identifies the key stages in the development of the pension legislation of the R
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Levaieva, Ludmila, and Mykola Kucherenko. "ANALYSIS OF THE CURRENT STATE OF PENSION SYSTEM IN UKRAINE." University Economic Bulletin 36/1 (April 17, 2018): 215–29. https://doi.org/10.5281/zenodo.1219786.

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Subject of research are theoretical and practical issues of functioning and development of state and non-state pension funds in Ukraine. The purpose of writing the article is a scientific substantiation of the theoretical foundations of formation of pension, identifying peculiarities of its functioning in Ukraine and development of recommendations regarding ways to improve its further development. The methodology of work. The work is done on the basis of studies of modern scientific views on the definition of the nature and development of the pension system and private pension insurance in Ukr
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Upite, Inese, and Feliciana Rajevska. "Development of service pension policy in Latvia from 1996 until 2016." SHS Web of Conferences 51 (2018): 03011. http://dx.doi.org/10.1051/shsconf/20185103011.

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The government made a decision to terminate the development of the service pension in 1997. However, during 1998–2016 the scope of service pension beneficiaries was extended. Thereby along with the overall social insurance pension system, the social pension scheme has been established and developed for a certain range of people funded by the state budget – the system of the service pension. The aim of the article is to explore the development of the service pension policy during 1996–2016. To accomplish it, in the framework of the study concepts related to the service pensions and the tendenci
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Rusak, H. W. "Pension provision in the system of social protection of the population." Analytical and Comparative Jurisprudence, no. 1 (July 2, 2022): 109–12. http://dx.doi.org/10.24144/2788-6018.2022.01.20.

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A large number of works in the scientific literature are devoted to the study of pensions in the social protection system, because today the issue of providing social guarantees to the population is very painful. Today's pension system in Ukraine operates in conditions of constant financial stress, instability and requires constant improvement as it is unable to provide citizens with a decent standard of living and therefore needs to be reviewed and reformed. Reforming socio-economic processes necessitates comprehensive public administration of reforms in the pension system by improving organi
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Katsora, Oleksandr, and Ivan Shtefan. "PROSPECTS OF IMPLEMENTING THE ACCUMULATED LEVEL OF PENSION INSURANCE IN UKRAINE." Scientific Bulletin of Uzhhorod University. Series: «Pedagogy. Social Work» 1, no. 56 (2025): 69–72. https://doi.org/10.24144/2524-0609.2025.56.69-72.

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The pension system of Ukraine faces serious challenges, including demographic changes, the deficit of the Pension Fund of Ukraine, and the low level of citizens' trust in state pension programs. The introduction of a funded level of pension insurance is an important step to ensure the financial stability of pensioners and reduce the burden on the solidarity system. At the same time, the effectiveness of such an introduction depends on legislative changes, institutional mechanisms of management, and the level of financial literacy of the population. The article is aimed at analyzing the prospec
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