Closing the Coverage Gap : The Role of Social Pensions and Other Retirement Income Transfers

The book has four specific objectives: (a) to discuss the role of retirement income transfers in the context of a strategy for expanding old- age income security and preventing poverty among the elderly; (b) to take stock of international experience with the design and implementation of these programs; (c) to identify key policy issues that need to receive attention during the design and implementation phases; and (d) to offer some preliminary policy recommendations and propose next steps. The chapter one discusses the rationale for retirement income transfers. The main justifications are the limited coverage of the mandatory pension systems (chapter two) and the risk of poverty during old age (chapter three). Chapter four then examines the rights, based approach to expansion of social security coverage based on the conventions and recommendations of the International Labor Organization (ILO). The middle part of the book deals with international experience. Chapters five, six, and seven reviews selected programs in low-income, middle-income, and high-income countries, respectively, and chapters eight and nine discuss in greater depth the cases of Japan and the Republic of Korea. The five concluding chapters are concerned with policy issues as related to design. Chapter ten presents a typology of retirement income transfers and analyzes the potential economic impacts of the programs. Chapter eleven deals with financing mechanisms and the problem of allocative efficiency, given limited resources. Chapter twelve addresses two key issues related to institutional arrangements and targeting systems: Should countries consider separate programs to target the elderly poor instead of using the general social assistance system to target all poor? And, how can current proxy means-test systems be adapted to target the elderly poor? Chapter thirteen explores in more detail the links between social pensions and matching contributions in the context of a general strategy for expanding coverage. Finally, chapter fourteen provides guidelines for the design of the administrative systems needed to operationalize the various programs. The remainder of this overview summarizes the main messages from the subsequent chapters and outlines an agenda for future research and policy analysis. For clarity, it starts by presenting some definitions pertinent to the retirement income transfers discussed in the book.

Bibliographic Details

Main Authors:	Takayama, Noriyuki, Holzmann, Robert, Robalino, David A.
Language:	English
Published:	World Bank 2009
Subjects:	ADMINISTRATIVE CHARGES, ADMINISTRATIVE COSTS, ADMINISTRATIVE DATA, ADMINISTRATIVE SUPPORT, ASSET HOLDINGS, AVERAGE BENEFIT, AVERAGE EARNINGS, BABIES, BASIC PENSION, BASIC PENSIONS, BENEFICIARIES, BENEFIT FORMULAS, BEST PRACTICES, BUDGETING, CALCULATIONS, CASH TRANSFER, CASH TRANSFERS, CHILD CARE, CHRONIC POVERTY, CITIZEN, CITIZENS, CLIMATE CHANGE, COMMODITY, COMMUNITY ORGANIZATIONS, CONTINGENCIES, CONTRIBUTION, CONTRIBUTION RATES, CONTRIBUTIONS, COST ESTIMATES, CREDITS, CURRENT PROGRAMS, DEFINED CONTRIBUTIONS, DEVELOPING COUNTRIES, DEVELOPMENT BANK, DISABILITY, DISCOUNT RATES, DISSEMINATION, EARLY RETIREMENT, ECONOMIC ANALYSIS, ECONOMIC COSTS, ECONOMIC DEVELOPMENT, ECONOMIC GROWTH, ECONOMIC POLICIES, ELDERLY, ELDERLY PERSONS, ELDERLY POPULATION, FAMILY ALLOWANCES, FAMILY POLICIES, FAMILY STRUCTURES, FAMILY SUPPORT, FERTILITY RATES, FINANCIAL ASPECTS, FINANCIAL PLANNER, FINANCIAL POLICY, FINANCIAL SUPPORT, FIXED COST, GENERAL POPULATION, GLOBAL POPULATION, GROSS DOMESTIC PRODUCT, HEALTH ECONOMICS, HEALTH INSURANCE, HOUSEHOLD INCOME, HOUSEHOLD SURVEYS, HUMAN DEVELOPMENT, HUMAN RIGHT, HUMAN RIGHTS, IMPACTS OF POPULATION, IMPORTANT POLICY, INCOME GROUP, INCOME LEVEL, INCOME LEVELS, INCOME SECURITY, INDIGENOUS PEOPLE, INFORMATION SYSTEMS, INSTITUTIONAL CAPACITY, INTEREST RATE, INVESTMENT DECISION, INVESTMENTS IN EDUCATION, KNOWLEDGE GAP, LABOR FORCE, LABOR FORCE PARTICIPATION, LABOR MARKET, LABOR MARKET TRANSITIONS, LABOR MARKETS, LABOR SUPPLY, LEGAL STATUS, LIFE EXPECTANCY, LIMITED RESOURCES, LIVING STANDARDS, LONG-TERM SAVING, LONG-TERM SAVINGS, LOW FERTILITY, LOW INCOME, LOW-INCOME, LOW-INCOME COUNTRIES, LOW-INCOME INDIVIDUALS, LOW-INCOME WORKERS, MANDATES, MANDATORY CONTRIBUTION, MARGINAL TAX RATES, MARKET ECONOMIES, MATERNITY LEAVE, MIGRATION, MINIMUM PENSION, MINIMUM PENSIONS, MINIMUM WAGE, MINISTRY OF EDUCATION, MINORITY, NATIONAL COMMITTEE, NATIONAL PENSION, NATIONAL PLAN, NATIONAL POPULATION, NATURAL RESOURCES, NORMAL RETIREMENT AGE, NUTRITION, OLD AGE, OLD-AGE, OLD-AGE PENSION, OLDER MEN, OLDER PEOPLE, OLDER WOMEN, ORPHANS, PENSION, PENSION ACCOUNT, PENSION AGE, PENSION ARRANGEMENTS, PENSION BENEFITS, PENSION COVERAGE, PENSION INCOME, PENSION ISSUES, PENSION PLAN, PENSION PROGRAMS, PENSION PROVISIONS, PENSION REFORM, PENSION REFORM PRIMER, PENSION REFORMS, PENSION REGULATION, PENSION RIGHTS, PENSION SCHEME, PENSION SCHEMES, PENSION SYSTEM, PENSION SYSTEMS, PENSION TRANSFERS, PENSION WEALTH, PENSIONS, PERIODS OF UNEMPLOYMENT, POLICY ANALYSIS, POLICY DEVELOPMENT, POLICY FRAMEWORK, POLICY GUIDANCE, POLICY MAKERS, POLICY RESEARCH, POOR FAMILIES, POOR INDIVIDUALS, POPULATION AGEING, POPULATION GROUPS, POVERTY LEVELS, POVERTY RATE, POVERTY RATES, POVERTY REDUCTION, PRACTITIONERS, PRIVATE INVESTMENTS, PRIVATE PENSION, PRIVATE PENSION PROVIDERS, PROBABILITIES, PROBABILITY, PUBLIC ECONOMICS, PUBLIC EXPENDITURES, PUBLIC PENSION, PUBLIC PENSION SCHEMES, PUBLIC PENSIONS, PUBLIC POLICY, QUALITY OF SERVICES, RATES OF RETURN, REPLACEMENT RATES, RETIRED, RETIREMENT, RETIREMENT AGE, RETIREMENT AGES, RETIREMENT INCOME, RETIREMENT INCOMES, RETIREMENT-INCOME, RISK AVERSION, RURAL AREAS, SAFETY NET, SAFETY NETS, SALARY, SAVINGS, SAVINGS INSTRUMENTS, SELF-EMPLOYMENT, SENIOR, SKILLED WORKERS, SMALL ENTERPRISES, SOCIAL AFFAIRS, SOCIAL ASSISTANCE, SOCIAL EXPENDITURES, SOCIAL INSURANCE, SOCIAL INSURANCE PROGRAMS, SOCIAL PENSION, SOCIAL PENSIONS, SOCIAL POLICY, SOCIAL PROTECTION, SOCIAL RETURNS, SOCIAL RISK MANAGEMENT, SOCIAL SECURITY, SOCIAL SECURITY ADMINISTRATIONS, SOCIAL SECURITY CONTRIBUTIONS, SOCIAL WELFARE, SOUND FINANCIAL MANAGEMENT, SOURCES OF INCOME, TAKE-UP RATE, TAX RATE, TRADE UNION, TRADITIONAL FAMILY, URBAN AREAS, URBANIZATION, VALUATION, VOLUNTARY SAVINGS, VULNERABILITY, WAGES, WITHDRAWAL, WITHDRAWAL RATE, WORKING AGE, WORTH,
Online Access:	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000333038_20090730232543 https://hdl.handle.net/10986/2651
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