Pension Reforms in Countries with Developed and Transitional Economies

Belozyorov, Sergey; Pisarenko, Zhanna

doi:10.17059/2015-4-13

Cited by 5 publications

(3 citation statements)

References 3 publications

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“…The population aging, the launch of pension reforms and reforms of the social and health insurance systems have forced the government of many countries, including Japan, to reconsider the concept of the functioning of the social insurance system (Pisarenko & Belozyorov, 2015). The Japanese experience has become unique.…”

Section: Resultsmentioning

confidence: 99%

Investigation of Possible Organizational Changes to the Health Insurance System in Vietnam

Doan

Dukhno²

2021

International Scientific Conference „Contemporary Issues in Business, Management and Economics Engineering"

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Purpose – to identify the prerequisites for organizational changes of the emerging health insurance system in Vietnam. Research methodology - comparative analysis, statistical analysis, case study. Findings – the obligatory health insurance in Vietnam performs its functions only partially. There is still high level of out-of-pocket spending on medical services. First we identified one of the most important challenges to the health insurance system in Vietnam, namely, the population aging. Secondly, we identified and analyzed and the prerequisites (the pre-existing conditions), which can become the basis for the reorganization of the existing health insurance system without major reforms: (1) the cultural values of Asian society, which allow to build a community-based type model of living for the elderly on the basis of “equal with equal”; (2) technological advances in medicine that extend the healthy life of the elderly, (3) trust in traditional medicine, which allows widen the coverage of the poorest “elderly households”. Practical implications - the results of the study require attention from the government and insurance providers when rethinking of organizing process for mandatory medical insurance. Originality/Value – we have identified the ways of possible organizational changes for the health insurance system, making the most of the existing prerequisites. This can help to get closer to the goal of full coverage with health insurance services while achieving a positive social effect. The identified internal reserves make it possible to imple- ment organizational changes without major reforms of the established health insurance system. No studies have been conducted in this perspective.

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Section: Resultsmentioning

confidence: 99%

Investigation of Possible Organizational Changes to the Health Insurance System in Vietnam

Doan

Dukhno²

2021

International Scientific Conference „Contemporary Issues in Business, Management and Economics Engineering"

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“…The authors findings show that concerns about accumulating assets to match life expectancy at the current retirement age overwhelm the view that retirement benefits are an adequate replacement for household assets. Domestic researchers (Belozyorov & Pisarenko, 2015;Pisarenko & Kuznetsova, 2019;Kuznetsova & Pisarenko, 2016) also believe that the existing solidarity system in the studied countries, together with pension reforms, is not able to provide the necessary level of household welfare. To reduce the pressure on the pension system, it is necessary to redistribute financial flows by expanding the sources of financing and transferring the risk of old age to the individual level, thus, the role of such institutional investors as pension funds and insurance companies is significantly increased.…”

Section: Literature Reviewmentioning

confidence: 99%

Changing Role of Pension Funds and Insurance Companies as Sources of Household Well-Being in the Long Term: The Example of the Countries of the Former Soviet Union

Brylev

Mitrofanova

Khoteeva

2021

International Scientific Conference „Contemporary Issues in Business, Management and Economics Engineering"

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Purpose – the main objective of this study is to assess the impact of investments in pension and insurance schemes on household well-being, based on an analysis of data from the countries of the former Soviet Union in the long term. Research methodology – using empirical analysis, the assets and liabilities of households are examined, divided into the main financial market instruments in the selected countries. Findings – the calculations confirmed the relationship between total household assets and assets held in life insurance reserves and pension schemes. Research limitations – the choice of the countries is determined by the similarity of the economies and the political and social systems. Also, the choice of countries is due to the lack of data, so the number of countries studied was reduced to 6. Practical implications – the results of this study will be useful for national governments and major institutional investors. Originality/Value – although similar studies were conducted on the basis of data from OECD countries, a comparable cross-country analysis was not conducted on the data of the countries of the former Soviet Union. Further, on the basis of the obtained data, it is planned to conduct a correlation and regression analysis to identify the statistical relationship.

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“…It will lead to increased competition among entities (Barro & Sala-i-Martin, 1998) operating not only within the separate pension and insurance sectors of the global financial market but also to an intersectoral competition of pension and insurance segments. This is primarily due to the transfer by the state of poverty risk in old age management from the public to the individual level (pension reforms are implemented in almost all countries of the world) (Belozyorov & Pisarenko, 2015;Pisarenko, Kuznetsova, & Chernova, 2017). Pension reforms are forming a great pool of individual investors with the increasing need for long-term insurance pension programs related to public participation in voluntary retirement insurance and long-term life insurance.…”

Section: Introductionmentioning

confidence: 99%

Financial convergence at the world financial market: pension funds and insurance entities prospects: case of China, EU, USA

Кузнецова

Pisarenko

2019

Proceedings of 6th International Scientific Conference Contemporary Issues in Business, Management and Economics Engineering ‘2

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Purpose − to find whether large international institutional investors regardless of their country of origin due to the influence of external factors demonstrate convergence on some basic performance indicators. Research methodology is based on testing the set of selected entities for sigma convergence. The paper presents an empirical analysis of financial convergence for autonomous pension funds and insurance corporations of China, the EU and the USA. Findings − the insurance segment of the world financial market is more converged; however, current pension reforms in many countries is supposed to and must unify the requirements for both market segments and will lead to even greater convergence between pension funds and insurance corporations. Practical implications − results of the research are another step towards understanding the convergence processes, which are an objective trajectory for the development of the modern global financial market. Originality/Value − found intersegment convergence of pension and insurance entities, which needs further research.

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Pension Reforms in Countries with Developed and Transitional Economies

Abstract: (Saint-Petersburg, Russian Federation) pension reforms in counTries wiTh DevelopeD anD TransiTional economies

Cited by 5 publications

References 3 publications

Investigation of Possible Organizational Changes to the Health Insurance System in Vietnam

Investigation of Possible Organizational Changes to the Health Insurance System in Vietnam

Changing Role of Pension Funds and Insurance Companies as Sources of Household Well-Being in the Long Term: The Example of the Countries of the Former Soviet Union

Financial convergence at the world financial market: pension funds and insurance entities prospects: case of China, EU, USA

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