Pension Programs Around the World: New Comparative Global Policy Data

Mahon, Adam; McNeill, Kristen; Heymann, Jody

doi:10.1080/13876988.2015.1014179

Cited by 4 publications

(4 citation statements)

References 27 publications

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“…The empirical results of the few studies that exist so far reveal highly heterogeneous results. Some scholars state that benefit levels are too low, too poorly targeted or too limited in coverage to effectively reduce poverty (Midgley, ), while others take an opposing stance (Mahon et al, ). A more comprehensive understanding of social protection in the Global South is a prerequisite for understanding the ongoing struggle against poverty and social inequality, especially within the poorest nations of the world.…”

Section: Resultsmentioning

confidence: 99%

“…Which retirement schemes exist and how inclusive are they? The first pension systems in LMICs were introduced in the first half of the 20th century, mostly in the form of earnings‐related social insurance systems (see Figure ; also Lloyd‐Sherlock, ; Mahon, Mcneill, & Heymann, ). This type of scheme is based on contributions made by wage earners.…”

Section: Old‐age Schemes Across Low‐ and Middle‐income Countriesmentioning

confidence: 99%

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The coverage of social protection in the Global South

Schmitt

2019

Int J Soc Welfare

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About 73% of the global population is not, or is only partly, covered by social protection. Particularly across low‐ and middle‐income countries (LMICs), social protection coverage is highly heterogeneous. What explains the large differences in the inclusiveness of social protection across LMICs? By analysing 100 LMICs using retirement schemes as an example, this study shows that non‐contributory schemes in LMICs are, by far, more inclusive than contributory ones. Surprisingly, democratic institutions characterised by low levels of political corruption only promote the inclusiveness of non‐contributory social protection while reducing the coverage of contributory schemes.

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Section: Resultsmentioning

confidence: 99%

Section: Old‐age Schemes Across Low‐ and Middle‐income Countriesmentioning

confidence: 99%

The coverage of social protection in the Global South

Schmitt

2019

Int J Soc Welfare

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“…e essential issue after retirement for the working population is maintaining their standard of life, regardless of their health or age. However, [43] highlighted that approximately 30 percent of the older population group, representing 6 percent of the overall population, is considered officially living below Malaysia's poverty level. Nevertheless, pensioners from the public sector obtain pension annuities from the time they retire until they die, which they can use to spend during their retirement [44].…”

Section: Review Of the Literature And Hypothesis Developmentmentioning

confidence: 99%

Econometric Analysis of Macroeconomic to Age‐Specific Mortality Rate in Malaysia: Evidence from Panel Data

Edrus

Siri

Haron

et al. 2022

Journal of Mathematics

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Human mortality is unanticipated and unavoidable, particularly in light of the recent COVID-19 pandemic. Insurance companies, actuaries, financial institutions, demographers, and the government may suffer catastrophic losses as a result of imprecise mortality estimates. Understanding the factors that contribute to mortality at the population level can help the government improve its efforts to promote health and reduce health inequalities. Consequently, the present study utilizes an econometrics model to estimate Malaysia’s mortality rate, with macroeconomic factors as explanatory variables. The present study employed the unemployment rate, pension liabilities, gross domestic product, education expenditure, and healthcare expenditure as explanatory variables. The empirical results imply that the fixed effects model is feasible when using panel data across specific age groups. Moreover, the fixed effects model is devoid of cross-sectional dependency, heteroscedasticity, and serial correlation. The findings reveal that the unemployment rate, gross domestic product, and education expenditure all have a significant influence on the mortality rate. However, pension liabilities and health expenditure have an insignificant relationship with the mortality rate. The fixed effects model is demonstrated to be a robust model that fits the Malaysian scenario with an R-squared of approximately 84.69%. The present study is novel due to the fact that the model established between explanatory variables and the mortality rate shows a significant relationship, which can be helpful in forecasting the mortality at population level as a preparation for the post-COVID-19 mortality. The present study aims to contribute to the development of an effective support mechanism by rectifying Malaysia’s socioeconomic inequalities in order to mitigate the COVID-19 increase in mortality rate. Therefore, the Malaysian government is strongly encouraged to examine its expenditure on education and gross domestic product in order to improve the mortality rate, particularly among the adult and older population.

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“…The relevance of the social security pension resides the fulfillment of the human rights for older citizens, likewise, pensions can also be seen as investments in local economies and human capital development [18]. This is the main income for the elderly in urban China like in the rest of the word, there the majority of people aged 60 and over receive a pension [19].…”

Section: Introductionmentioning

confidence: 99%

Simulation of the Ecuadorian Social Security Institute Funds Sustainability Addressing Government Contribution to Retirement Pension in 2015

González-Jaramillo¹

2017

Proceedings of the 15th LACCEI International Multi-Conference for Engineering, Education, and Technology: “Global Partnership F

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The Ecuadorian Social Security Institute (IESS) operates on the principles of solidarity, obligatoriness, universality, equity, efficiency, sufficiency and subsidiary. However, its distribution system is easily affected by changes in demographic variables and the Government reduces the system volatility by subsidizing some liabilities. In April 2015, the Government announced a new reform which stopped a 40 % compulsory contribution to the social security retirement pensions. Some analysts affirm that the IESS cannot be sustained longer than 10 years with its current operational features. This study seeks from an impartial academic perspective to simulate the social security system using the system dynamics methodology including demographic and macroeconomic variables in order to determine the number of years that the IESS can operate. Because of this simulation, different policies were tested in order to get a correct path to funds sustainability. As a final conclusion to this model, In Ecuador, eliminating the subsidy in 2015 without changes in the IESS operations would reduce the funds until exhausting them in 2030. If the expense parameters per enrollee could vary as simulated in the MonteCarlo process showed in this paper, it is more likely that the funds run out between 2028 and 2039.

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Pension Programs Around the World: New Comparative Global Policy Data

Cited by 4 publications

References 27 publications

The coverage of social protection in the Global South

The coverage of social protection in the Global South

Econometric Analysis of Macroeconomic to Age‐Specific Mortality Rate in Malaysia: Evidence from Panel Data

Simulation of the Ecuadorian Social Security Institute Funds Sustainability Addressing Government Contribution to Retirement Pension in 2015

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