 Financial Sustainability and Reform Options for the Albanian Pension FundVolker Treichel No 2001/047, IMF Working Papers from International Monetary Fund Abstract: This paper studies the financial sustainability of the Albanian pension fund and assesses possible options for its reform. The paper concludes that the pension fund is not sustainable in its current form and proposes for the urban scheme a combination of parametric changes to the existing pay-as-you-go system that would be conducive to broadening the contribution base and strengthening the financial performance of the pension fund. In addition, it proposes the establishment of a voluntary funded pillar in the urban scheme. For the rural scheme, the paper concludes that it should either be merged with the scheme for the urban self-employed or be replaced by a mandatory and funded second pillar. The paper also proposes administrative reforms to strengthen revenue collections. Keywords: WP; contribution rate; work force; coverage rate; contribution ceiling; minimum wage; Parametric reforms of pension funds; multi-pillar reforms; transition economies; base earnings; taxable wage range; wage ceiling; reference wage; ensured wage; Pension spending; Pensions; Retirement; Wages; Aging; Eastern Europe; Western Europe (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:imf:imfwpa:2001/047 Ordering information: This working paper can be ordered from 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. |
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