Foreign Experience in Improving Pension Provision for Civil Servants

Nataliya Yu. Kamenskaya (), Kristina V. Shvandar () and Alexander R. Grigoryev ()
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Nataliya Yu. Kamenskaya: Ministry of Finance of the Russian Federation, Moscow, Russian Federation
Kristina V. Shvandar: Financial Research Institute, Moscow, Russian Federation
Alexander R. Grigoryev: Financial Research Institute, Moscow, Russian Federation

Finansovyj žhurnal — Financial Journal, 2025, issue 4, 104-118

Abstract: The relevance of studying the forms, methods and ways of providing pension services to the population of different countries of the world is not weakening. The reason is constant changes occurring in various spheres of national economies, and primarily in the structure of the labor force and population, as well as the state of financial markets. Without monitoring of the ongoing changes and development of measures to control and overcome negative trends (such as the rapid aging of the labor force observed in South Korea), it is difficult to promptly prevent the growing imbalances of the national pension systems. The purpose of this article is to present the results of a study of civil servants pension models in a number of countries with developed pension systems, including the United States, South Korea, South Africa, Canada and the Netherlands. The study revealed that most of the countries reviewed have recently undergone pension system reforms that affected civil servants’ pensions. At the same time, there are more differences than commonalities in the models of organization of pension provision for civil servants in these countries. Thus, there is a different degree of integration of pension provision for public and private sector employees, the shares of civil servants in the total labor force vary greatly, the rates of replacement of labor income by pensions differ almost twice, etc. However, the government in these countries has not only found an adequate balance between the levels of the pension system, but also constantly improves them depending on external and internal conditions, trying to maintain the stability of the national pension system.

Keywords: pension system; civil servant pensions; replacement rate; USA; South Korea; South Africa; Canada; Netherlands (search for similar items in EconPapers)
JEL-codes: H55 I38 J26 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:fru:finjrn:250406:p:104-118

DOI: 10.31107/2075-1990-2025-4-104-118

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