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Pension Reform in the Baltics, Russia, and other Countries of the Former Soviet Union (BRO)
Author:
International Monetary Fund
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Series:
IMF Working Papers
Volume/Issue:
Volume 1998: Issue 011
Language:
English
Publication Date:
01 Feb 1998
DOI:
https://doi.org/10.5089/9781451842753.001
ISBN:
9781451842753
ISSN:
1018-5941
Pages:
40
Keywords:
WP; pension; pension system; BRO country; country; Pension Reform; Transition; Social Protection; coverage ratio; contribution rate; country authorities; early retirement; retirement age; PAYG system; pension provision; Pension spending; Pensions; Aging; Retirement; Baltics
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IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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Despite their increasing fiscal burden, the public pension systems of BRO countries are failing to provide adequate social protection. Although there is a broad consensus about the need for pension reforms, BRO countries are debating whether to embark on systemic reforms or whether to correct the distortions in their pay-as-you-go (PAYG) pension systems. The paper reviews the measures taken by BRO countries during the transition period to address their pension problems and examines the options for further reform. It makes a strong case for a gradual reform approach aimed at establishing a multi-pillar system over the long run, but initially focused on implementation of “high-quality” reforms of the PAYG system.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund