Social Security and Pension Reform: International Perspectives

Index

327 Index The italic letters f, n, or t following a page number indicate that the subject information of the entry heading is within a figure, note, or table, respectively, on that page. Double letters, e.g., nn, indicate more than one such feature. Additional Earnings-Related Pension (ATP), Swedish evolution of, 65 Additional Voluntary Contribution (AVC) plan, 41–43, 42t, 50 Africa, 146t former British colonies and protectorates in, and provident funds, 20, 237 social security in, 15, 27, 28, 29 sub-Saharan, and retirement coverage, 9–10 See also East African Community African Development Bank, influence on EAC of, 263n1 Age eligibility. See Retirement age Age Pension, 8, 185 fiscal sustainability of, 191–201, 193f, 197t, 198t, 200t, 215 government assistance for, 185, 186, 201–203, 214, 215–216 now and in future, 190–191, 191t, 203, 213, 215 See also Ireland’s plan, Old Age Contributory Pension Aging population financing support for, through economic growth, 118–120, 124, 125n11 pressure on public finance and, 117– 118, 123, 192–195, 193f See also Older workers AIOS. See International Association of Supervisors of Pension Funds AMRF. See Approved Minimum Retirement Fund Annuities, 30, 273 lifetime, as PRSA goal, 40, 44, 50 obligations to purchase, 58, 293t option to purchase, 210, 214–215 Approved Minimum Retirement Fund (AMRF) as annuity alternative for selfemployment in Ireland, 44, 60n3 transfer of PRSA to, 58 Approved Retirement Fund (ARF), transfers and, 58, 60n3 ARF. See Approved Retirement Fund Argentina, 141 social security in, 21, 22, 27, 271 ASFA. See Association of Superannuation Funds of Australia Asia, GPFG investments in, 146t Association of British Insurers, fees, 34 Association of Superannuation Funds of Australia (ASFA) better retirement income project of, 213–215 lifestyle standards set by, compared to Age Pension, 190–191, 191t, 214 Australia, 147t, 186, 314 demographics in, 193–194, 207, 207t financial advice reform in, 314, 316 government costs of retirement income system in, 201–203, 202t three-pillar retirement system in, 185–186 Australian pensions, 8–9, 185–216, 305 alternatives to, 23, 213–215 as complex tax issue, 186, 195–201, 197t, 198t, 200t, 215 equity challenge to, 195, 203–204 government assistance and, 202–203, 202t helping those who really need assistance, 204–209 history of, 187–190 mandated private, 18, 59, 186, 204, 205t, 214 In order to view this proof accurately, the Overprint Preview Option must be checked in Acrobat Professional or Adobe Reader. Please contact your Customer Service Representative if you have questions about finding the option. Job Name: -- /356308t 328 Szczepanski and Turner Australian pensions, cont. pacts with New Zealand about, 30, 199 retirement ages for, 14–15, 185, 210 retirement income streams and, 186, 202–203, 202t, 210–215 voluntary, 185–186, 204 See also Age Pension Austria, 146t retirement in, 14, 17, 157t Automatic adjustment mechanisms inflation as, 226 social security solvency and, 4, 24–26 AVC. See Additional Voluntary Contribution Averting the old age crisis (World Bank), arguments in, 39 Bahamas, The, provident funds and, 20 Bahrain, GPFG investments in, 147t BASAL. See Basic Satisfaction Level Basic Satisfaction Level (BASAL) benchmark comparison for, and replacement rate, 274–276, 274t definition, 272–273 Belgium, 146t retirement in, 16, 157t Belize, social pensions in, 29 Benefit generosity automatic adjustment mechanism and, 25, 34 cutbacks of, 16–17, 18 definition, 14 to encourage later retirement, 16, 34 Benefits, 186, 206 calculations for, 30, 102–103, 131 indexing rules for, 103–104 old-age, 19, 29, 219–220, 221, 225– 227 reduction of, as reform focus, 104– 107, 105t, 107f, 122 rights to, protected in Norway, 27, 131 Bermuda Islands, GPFG investments in, 147t Bismarckian PAYG financing, some CEE countries and, 155, 156 Bolivia benefits to international migrants, 29–30 individual accounts in, 21, 22 Botswana, social pensions in, 29 Brazil, 23, 24, 29 defined contribution pensions in, 274t, 275–276 demographics of, 277t, 279t, 280t as emerging market in global economy, 141, 145, 146t pensions in, 32, 281tt, 282t social security benefits to international migrants in, 29–30 Brunei, two-tier mandatory system in, 21 Bulgaria, 159 among CEE countries, 153, 156, 157t breakup of Soviet Union and, 7, 21 encouraging later retirement with reforms in, 15–16 Burundi, 263n1 pension regulatory authority in, 250t, 251 private sector pensions in, 252, 252t, 257 public sector pensions in, 258t, 262 Burundian social security benefits, 249 contribution rates, 245t, 249 coverage, 27, 236–237, 237t National Social Security Fund, 236t, 237t, 239tt retirement age, 238t, 249 Canada...