Pension Reforms in Commonwealth of Independent States Countries

Pension Reforms in India

Life expectancy has shot up in recent decades. When public pension systems were first established, people could typically look forward to only a few years of retirement if any. Today, globally, the probability of a newborn boy surviving until age 65 is over 80%; the figure is over 90% for a girl child. Aging populations are “a high-class” problem, said U.S. President Bill Clinton in his 1999 St...

Pension System Reforms

Health and health systems in the Commonwealth of Independent States.

The countries of the Commonwealth of Independent States differ substantially in their post-Soviet economic development but face many of the same challenges to health and health systems. Life expectancies dropped steeply in the 1990s, and several countries have yet to recover the levels noted before the dissolution of the Soviet Union. Cardiovascular disease is a much bigger killer in the Common...

Retirement Expectations and Pension Reforms

We estimate the effect of pension reforms on households’ expectations of retirement outcomes and wealth accumulation decisions exploiting a decade of pension reforms as a source of exogenous variation in expected pension wealth. Two parameters are crucial to estimate pension wealth: the age at which workers expect to retire and the expected ratio of pension benefits to pre-retirement income. Th...

Public Pension Reforms and Private Savings

The 1999 reforms to the Korea National Pension Scheme resulted in a unique situation, in which those who were insured by the pension scheme and those who were uninsured coexisted. Exploiting this situation, this paper evaluates the effect of public pension on private savings. The estimation results show that the average effect is close to zero. Households with low or very high saving rates were...