Estimating the Consequences of Philippine Pension Reform
نویسنده
چکیده
This report summarizes the results of work conducted as a short-term pension tax policy advisor to the Philippine government. This technical assistance is being provided through the USAID-funded AGILE project. The report contains general comments on the pension reform agenda described in a draft white paper and preliminary quantitative results on the individual income tax revenue effects of the PERA voluntary individual retirement account proposal. These quantitative estimates are generated using a preliminary version of PERATAX, a microsimulation model of individual income tax and PERA policy and behavior, that utilizes as its database the 1997 Family Income and Expenditure Survey.
منابع مشابه
Aging and Pension reform with Change contribution rates
Increased life expectancy and reduced fertility rates have led to aging which is one of the main causes of the pension funds imbalances in Iran’s pension funds. In order to resolve these imbalances, some reforms are required. The first option is to use parametric reforms, such as changing contribution rates of the pension system. The purpose of this study is to examine the impact of aging and c...
متن کاملMacroeconomic and Welfare Effects of Parametric Pension Reform in Iran
The aim of this paper is to analyze the macroeconomic effects of parametric reforms. An adjusted Auerbach-Kotlikoff model is used to study the effects of decreasing replacement and contribution rates of the pension system. The first part concentrates on the macroeconomic effect of reforms. Our results indicate that reducing the replacement and contribution rates increase the capital stock and d...
متن کاملThe Impact of Age Pension Eligibility Age on Retirement and Program Dependence: Evidence from an Australian Experiment
Population aging poses a challenge to the fiscal sustainability of social security systems around the world. As Baby-boomer generations approach retirement, governments have begun reforming key parameters of the social security systems. However, the behavioural and welfare impacts of many reforms are not well understood in part due to the di culty of isolating exogenous variation in program par...
متن کاملIndividual Choice of Pension Arrangement as a Pension Reform Strategy
The paper examines social security (public pension) reforms in which the programme is partially shifted from a public unfunded basis to a private, prefunded, basis. It focuses on reforms where individuals have a choice in switching from public funded to private unfunded programmes (as in the ‘contracting out’ scheme in the UK), or where some individuals are forced to join the funded scheme, or ...
متن کاملReforming the Italian Pension System in the Xxi Century: Tackling the Issue of Seniority Pensions Once Again
Alternative pension schemes, particularly related to provisions on early retirement, might produce different effects on retirement behaviours, with important economic consequences. This paper presents new evidence on the effect of different seniority pension reforms, considering for the Italian case the evolution of an agent-based economy, with heterogeneous workers, whose retirement age depend...
متن کامل