The Greek Pension Reforms
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Author | : Mr. Alvar Kangur |
Publisher | : International Monetary Fund |
Total Pages | : 26 |
Release | : 2021-07-16 |
Genre | : Business & Economics |
ISBN | : 1513588842 |
Download Reforming the Greek Pension System Book in PDF, Epub and Kindle
The Greek pension system has been costly, complex, and distortive, which has contributed to Greece’s fiscal problems and discouraged labor force participation. Several attempts to reform the system faltered due to lack of implementation, pushback by vested interests, and court rulings leading to reversals. A series of reforms introduced throughout 2015–17 unified benefit and contribution rules, removed several distortions and reduced fragmentation and costs. If fully implemented throughout the long-term, these reforms can go a long way towards enhancing the pension system affordability. However, reforms faced setbacks and fell short of creating stronger incentives to build long contribution histories, to deliver sustainable growth by improving the fiscal policy mix, and to ensure fairness and equitable burden sharing across generations and interest groups. Policy priorities should aim towards fully implementing the 2015–17 reforms and complementing them with additional reforms to address these remaining objectives.
Author | : International Monetary Fund |
Publisher | : International Monetary Fund |
Total Pages | : 30 |
Release | : 2002-03-15 |
Genre | : Business & Economics |
ISBN | : 1451816162 |
Download Greece Book in PDF, Epub and Kindle
This Selected Issue paper provides an overview of the public pension system in Greece, and of prospective pension-related spending pressures. The paper reviews the structure of Greece’s pension system and compares some basic parameters of the Greek pension system with those of other European Union economies. It provides an overview of demographic projections for Greece in an international context. The paper also examines the sensitivity of the expenditure projections to variations in demographic and macroeconomic assumptions, including those relating to the rate of productivity growth.
Author | : Milton Nektarios |
Publisher | : |
Total Pages | : |
Release | : 2019 |
Genre | : |
ISBN | : |
Download The Greek Pension Reforms Book in PDF, Epub and Kindle
Greece's current pension system relies almost exclusively on the state and remains staunchly pay-as-you-go (PAYG) and defined benefit (DB). This paper offers a radical proposal for change: (i) a new multi-pillar notional and financial defined contribution (NDC and FDC) pension system for all generations first insured after 1993, with contribution rates for primary pensions reduced by 50 percent; and (ii) a transitional system for those first insured before 1993. The proposal's robustness is tested actuarially for the period up to 2060. Though financing the legacy cost would be challenging, the quantitative exercise indicates that a radical pension reform, especially if implemented as a part of an overall recovery package, could set the country on a more favorable growth trajectory.
Author | : Dafni Diliagka |
Publisher | : Nomos Verlagsgesellschaft |
Total Pages | : 0 |
Release | : 2018 |
Genre | : Pensions |
ISBN | : 9783848749454 |
Download The Legality of Public Pension Reforms in Times of Financial Crisis Book in PDF, Epub and Kindle
The first reactions to the Greek financial crisis were pension reforms and reductions. The aim of this book is to assess the legal implications of the reductions to pension benefits, proposing a legal framework in which pensioners are able to raise legal claims in court. The book gives account of the background regarding the factors that necessitated pension reforms prior to and after the fiscal crisis. Furthermore, it describes the Greek pension reforms and reductions which were undertaken progressively by the Greek Parliament from the beginning of the crisis until the year 2012. Finally, it examines the legality of the public pension reforms and reductions in old-age pension benefits with the Greek Constitution and with international law. The assessment is achieved using the principle of proportionality as a balancing concept.
Author | : Einar Overbye |
Publisher | : Routledge |
Total Pages | : 325 |
Release | : 2017-11-28 |
Genre | : Business & Economics |
ISBN | : 1351151789 |
Download Pensions: Challenges and Reforms Book in PDF, Epub and Kindle
Throughout the developed world, public and private pension schemes face major challenges that are creating irresistible pressures for reform. Major structural changes in Latin America and in Central and Eastern Europe have led to particularly fierce pressure. Two member states of the European Union - Italy and Sweden - have introduced radical reform of their public pensions systems; controversial pension reforms have been proposed in France and Germany; and the British government has been widely criticized over its pension reforms and its 2002 white paper. This exceptional volume examines the challenges faced by pension schemes in the advanced economies and the reforms that have been introduced to tackle these challenges. A team of international contributors provides an up-to-date, invaluable analysis of different aspects of pension problems, prospects and reforms. The book incorporates cross-national chapters as well as a focus on individual countries including Belgium, Brazil, Colombia, Finland, Greece, Italy, Sweden, the UK and the USA.
Author | : Amelie Többen |
Publisher | : GRIN Verlag |
Total Pages | : 19 |
Release | : 2015-05-07 |
Genre | : Political Science |
ISBN | : 3656957010 |
Download A Comparison of the Pension Systems of Greece, Austria and Sweden Book in PDF, Epub and Kindle
Essay from the year 2014 in the subject Politics - Region: Western Europe, grade: 2,0, University of Lisbon, language: English, abstract: The European social model is challenged by decreasing fertility rates, higher life expectancies and the recent financial crisis. As member states are committed to provide sustainable and adequate pensions, they constantly have to review the sustainability of their systems and implement reforms to cope with the population ageing without destabilizing public finances. For our analysis, we choose the three countries Austria, Greece and Sweden. Our aim was to analyze a variety of different pension systems, not only different in their pension structure but also in their recent sustainability. Consulting the “2014 Pension Sustainability Index” suggests Sweden as a highly sustainable system with minor need for reforms. Austria in the mid-table has a quite sustainable pension system but needs to implement reforms to keep sustainable in the future. Greece made huge improvements in its sustainability due to the recent reforms implemented with the Troika but still remains in the lower field. In our opinion, these three countries give a diversified overview of the European social model.
Author | : Georgios Symeonidis |
Publisher | : |
Total Pages | : |
Release | : 2016 |
Genre | : |
ISBN | : |
Download Greek Pension Reform Strategy 2010-2015 Book in PDF, Epub and Kindle
Author | : |
Publisher | : |
Total Pages | : 30 |
Release | : 2002 |
Genre | : |
ISBN | : |
Download Greece Book in PDF, Epub and Kindle
Author | : Mark Lutz |
Publisher | : |
Total Pages | : 29 |
Release | : 2002 |
Genre | : |
ISBN | : |
Download Greece Book in PDF, Epub and Kindle
Author | : Mr.Benedict J. Clements |
Publisher | : International Monetary Fund |
Total Pages | : 86 |
Release | : 2013-01-25 |
Genre | : Business & Economics |
ISBN | : 147556631X |
Download The Challenge of Public Pension Reform in Advanced and Emerging Economies Book in PDF, Epub and Kindle
Pension reform is high on the policy agenda of many advanced and emerging market economies. In advanced economies the challenge is generally to contain future increases in public pension spending as the population ages. In emerging market economies, the challenges are often different. Where pension coverage is extensive, the issues are similar to those in advanced economies. Where pension coverage is low, the key challenge will be to expand coverage in a fiscally sustainable manner. This volume examines the outlook for public pension spending over the coming decades and the options for reform in 52 advanced and emerging market economies.