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  • 1
    Language: English
    Pages: Online-Ressource (1 online resource (108 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Bogomolova, Tatiana An Assessment of Reform Options For The Public Service Pension Fund In Uganda
    Keywords: Bank ; Capital Market ; Contribution ; Contribution Scheme ; Debt Markets ; Economic Development ; Emerging Markets ; Finance ; Finance and Financial Sector Development ; Financial Economist ; Financial Literacy ; Insurance ; Liabilities ; Pension ; Pension Fund ; Pension Reform ; Pensions and Retirement Systems ; Private Sector Development ; Social Protections and Labor ; Bank ; Capital Market ; Contribution ; Contribution Scheme ; Debt Markets ; Economic Development ; Emerging Markets ; Finance ; Finance and Financial Sector Development ; Financial Economist ; Financial Literacy ; Insurance ; Liabilities ; Pension ; Pension Fund ; Pension Reform ; Pensions and Retirement Systems ; Private Sector Development ; Social Protections and Labor ; Bank ; Capital Market ; Contribution ; Contribution Scheme ; Debt Markets ; Economic Development ; Emerging Markets ; Finance ; Finance and Financial Sector Development ; Financial Economist ; Financial Literacy ; Insurance ; Liabilities ; Pension ; Pension Fund ; Pension Reform ; Pensions and Retirement Systems ; Private Sector Development ; Social Protections and Labor
    Abstract: This paper analyzes the future liabilities that the Ugandan Public Service Pensions Fund might accumulate under the provisions of the Pensions Act (CAP 286) unless it is reformed. It then discusses alternative reform options that can be used in designing an educated homegrown reform of the fund. The paper supports a hybrid (two-pillar) reform option composed of a small defined benefit scheme and a complementary defined contribution scheme, instead of a pure defined contribution (monopillar) reform option discussed by policymakers in the country. The main reason for this is related to the fact that hybrid and pure defined contribution reforms will have the same impact on reducing pension expenditure (for the same grandfathering rules and surplus in the first pillar). In addition, everything else being equal, the hybrid reform is likely to produce higher average replacement rates due to the redistributive and pooling properties of the small defined benefit pillar
    URL: Volltext  (Deutschlandweit zugänglich)
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  • 2
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Social Protection and Labor Discussion Papers
    Keywords: Informal Sector ; Informal Workers ; Labor and Employment Law ; Labor Markets ; Labor Policies ; Law and Development ; Pension Reform ; Pensions and Retirement Systems ; Social Funds and Pensions ; Social Protections and Labor
    Abstract: This paper proposes a framework of voluntary savings schemes (VSS) in Jordan that can complement the current formal sector arrangements to better protect informal workers against economic shocks, unemployment, old age, or disability. As benefits of traditional mandatory pension systems worldwide have been cut substantially since the 1990s, voluntary defined contribution schemes are increasingly trying to fill the gap. In many countries, including in low-income countries, special voluntary savings schemes have been introduced to protect informal workers. Blending the knowledge from best practices internationally with the cluster methodology developed specifically for Jordan, the paper provides an overview of the current system of social security in Jordan and presents policy options to lower informality, extend social protection coverage, and provide more adequate protection to workers
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