Pension Developments and Reforms in Transition Economies

Carlo Cottarelli, Luis Cubeddu and M. Cangiano

No 1998/151, IMF Working Papers from International Monetary Fund

Abstract: This paper reviews developments in pension systems in 11 transition economies during the 1990s, highlighting the forces behind their rapid weakening. It focuses on the challenges these systems face—including those arising from demographic factors—and discusses why most transition countries are considering shifting, or have already shifted, from traditional defined-benefit pay-as-you-go systems to defined-contribution fully funded systems. Finally, the paper looks at the main options that arise in introducing fully funded components, including the relative mix between funding and pay-as-you-go, and the speed of the transition toward the new system.

Keywords: WP; PAYG system; transition economy; early retirement; retirement age; rate of return; Pension reforms; Transition Economies; Social Protection; pension system; wage bill; system dependency ratio; labor force; Pension spending; Pensions; Aging; Retirement; Wages; Central Asia; Eastern Europe; Baltics; Central and Eastern Europe; Western Europe (search for similar items in EconPapers)
Pages: 47
Date: 1998-10-01
References: Add references at CitEc
Citations: View citations in EconPapers (28)

Downloads: (external link)
http://www.imf.org/external/pubs/cat/longres.aspx?sk=2787 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:imf:imfwpa:1998/151

Ordering information: This working paper can be ordered from
http://www.imf.org/external/pubs/pubs/ord_info.htm

Access Statistics for this paper

More papers in IMF Working Papers from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC.
Bibliographic data for series maintained by Akshay Modi ().