Pension Reform in the Baltics, Russia, and Other Countries of the Former Soviet Union (Bro)

Branco, Marta de Castello

doi:10.2139/ssrn.882230

Cited by 10 publications

(5 citation statements)

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“…Notably in some FSU countries, statutory old-age benefits have fallen below subsistence level. Moreover, significant arrears were reported for Georgia, Kazakhstan, the Kyrgyz Republic, Moldova, Russia, Tajikistan, Ukraine and Uzbekistan (Castello Branco, 1998;Braithwaite, Grootaert, and Milanovic, 2000).…”

Section: Source: Based On Müller (2002b)mentioning

confidence: 99%

“…In the early transition years, high inflation and severe fiscal imbalances eroded the real value of retirement pensions, flattened the benefit structure even more and led to accumulated arrears. In most FSU countries, maintaining a minimal income floor soon became the governments' overriding objective, turning pension systems into crude safety nets (Castello Branco, 1998;Lindeman, Rutkowski, and Sluchynskyy 2000). Nowadays only Georgia is still paying out flat-rate retirement benefits regardless of the employment record (see Table 2, below).…”

Section: The Role Of Non-contributory Benefitsmentioning

confidence: 99%

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Post-Socialist Pension Reform: Contributory and Non-Contributory Approaches

Müller

2005

Public Finance and Management

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The pension reforms that were enacted in Central-Eastern Europe and the Former Soviet Union in the past decade reflect considerable diversity, but share one common feature: a move from a universalist-redistributive heritage to strongly differentiated, earnings-related benefits, with an emphasis on contributory financing. the differences in level and scope of old-age protection are widening, however, as plummeting formal employment translates into sharply decreasing coverage ratios. Thus, the importance of the existing non-contributory benefits for the elderly, that currently play a relatively marginal role in the post-socialist world, may soon be increasing.

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Section: Source: Based On Müller (2002b)mentioning

confidence: 99%

Section: The Role Of Non-contributory Benefitsmentioning

confidence: 99%

Post-Socialist Pension Reform: Contributory and Non-Contributory Approaches

Müller

2005

Public Finance and Management

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“…Therefore, the necessity of reforming the existing PAYG pension systems was urgent and many countries-initiated transformations from the very beginning of their independence. Branco et al (1998) analyzed reforms of the pension systems in the Post-Soviet Union countries. According to the study, two main types of policies have been identified to tackle the financial challenges that pension systems faced.…”

mentioning

confidence: 99%

“…In this case the fully funded pillar (first pillar) is dominant and the guaranteed minimum pension is provided by government to ensure the conditions of the poor. This approach was also referred as the Australian-Chilean pension system (Branco, 1998). Schwarz (2014) describes the expected projections of the pension systems challenges in Eastern European and Central Asian countries.…”

mentioning

confidence: 99%

Challenges and Perspectives of New Pension Fund Reform in Georgia: Need or Obligation for Population?

Kbiltsetskhlashvili

Chezhia

2020

JOB

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As Pension fund system is a cornerstone of countries economy, policymakers across the globe are still discussing about universal effective pension fund systems and struggling to implement and fit it to the country’s economy demography and financial system. From this point the main objective of this research topic was to test the effectiveness of new pension system reform in Georgia. It focuses on whether the reform will have positive effects on tackling poverty among elderly and bring to Georgian people real prosperity. The pension fund system represents the essential part of the economic policy. Moreover, it defines the social and political stability and future the development of the state economies. By other words, the simple objective of the pension system is to pay pensions to workers in their old ages and to protect elderly against the risk of poverty. As Pension fund system is a cornerstone of countries economy, policymakers across the globe are still discussing about universal effective pension fund systems and struggling to implement and fit it to the country’s economy demography and financial system. From this point the main objective of this research topic was to test the effectiveness of new pension system reform in Georgia. It focuses on whether the reform will have positive effects on tackling poverty among elderly and bring to Georgian people real prosperity. Despite of the central government announcement that the new system of accumulative pension was successfully adopted in the country, there are still hot debates and discussions in Georgian society including its fairness and effectiveness, which indicates the lack their awareness and involvement in this process.Since workers aged over 40 can opt-out from the pension system, hundreds of thousands among population will remain without a decent pension in the future. This will cause massive poverty in old age. The main aim of this paper is to analyze exciting pension fund reform in order to give people a clear understanding of reform. In the presented research, there is discussed the introduction and development reform of the pension system in Georgia. International experience is also analyzed on the example of other countries, specifically Armenia, Azerbaijan Estonia and Latvia. It also discusses the characteristic aspects of the pension model introduced in Georgia. Finally, paper also include Social research specifically opinion of Georgian people about the new pension systems.

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“…al. 1998 for a comprehensive review; Box 3 includes relevant case studies.18 See e.g.,de Castello Branco (1998) for an overview of pension reforms in the BRO countries.19 In Western Europe, reforms proposals have generally centered on modifications to the P AYG system while there has been resistance to more systemic reforms such as partial prefunding of the PAYG system or mandatory private pensions savings (see e.g. IMP 1997c for a discussion of reform proposals in Germany).…”

mentioning

confidence: 99%

Pension System Viability and Reform Alternatives in the Czech Republic

Laursen

2000

SSRN Journal

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Pension Reform in the Baltics, Russia, and Other Countries of the Former Soviet Union (Bro)

Cited by 10 publications

References 1 publication

Post-Socialist Pension Reform: Contributory and Non-Contributory Approaches

Post-Socialist Pension Reform: Contributory and Non-Contributory Approaches

Challenges and Perspectives of New Pension Fund Reform in Georgia: Need or Obligation for Population?

Pension System Viability and Reform Alternatives in the Czech Republic

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