Welfare Reform on the Web (November 2000): Pensions - Overseas
BERLIN'S PENSION PLAN 'NOT BOLD ENOUGH'
R. Atkins
Financial Times, Sept. 11th 2000, p. 10
Germany's main industry associations have called for the government to take bolder steps in overhauling the state pension system, warning that planned reforms fail to curb costs on businesses. The associations are demanding additional measures to cut contributions paid by employers and employees into the statutory system, and an increase in statutory pension age from 65 to 67.
CHINA SETS UP FIRST NATIONAL LOTTERY TO HELP PAY FOR MILLIONS OF PENSIONS
C. MacLeod
Independent, Aug. 28th 2000, p. 13
Punters across China will raise money for the swelling ranks of senior citizens by taking part in the country's first lottery. Forty seven per cent of the revenue is destined for funds providing public health services for the elderly and other welfare services
CHINA TO SET UP PENSIONS FUND
R. McGregor
Financial Times, Sept. 27th 2000, p. 12
China is to establish a national social security fund to manage the country's pension liabilities and welfare payments for workers made redundant from state-owned industries. It will be allowed to invest some of its money in the stock market through selected asset management companies.
EU URGED TO PUBLISH PENSIONS DIRECTIVE
S. Targett
Financial Times, Sept. 21st 2000, p. 4
The European Commission is facing calls from British pension fund leaders to press ahead with publication of its delayed draft pensions directive. It is hoped that this will remove investment restrictions.
GERMAN REFORM "WILL BOOST GROWTH OF PRIVATE PENSIONS"
R. Atkins
Financial Times, Sept. 27th 2000, p. 11
New legislation in Germany envisages younger workers investing 0.5% of gross wages in authorised private insurance or pension funds from 2001 rising to 4% in 2008. That would be in addition to contributions to the state system, currently 19.3% of gross wages split between employers and employees.
GERMANS GO STEP CLOSER TO PENSIONS PLAN
R. Atkins
Financial Times, Sept. 6th 2000, p. 8
The German government has won the support of the main opposition parties for its plans to encourage private and occupational pensions through tax breaks and subsidies.
REAFFIRMING PUBLIC-PRIVATE PARTNERSHIPS IN RETIREMENT PENSION PROVISION
R. McKinnon and R. Charlton
International Journal of Public Sector Management, vol. 13, 2000, p. 153-168
Paper argues against the World Bank's approach to pension reform, which prioritises financial sector issues over social welfare considerations in pensions provision. The Bank is increasingly dogmatic in its preference for private sector provision, and is short-sighted in its implicit assumption that historical patterns of retirement provision have failed to consider the importance of the public-private interface in financial sector development in general, and pension provision in particular. Paper examines the current systemic pension reform agendas with a critical eye and with the aim of reconceptualising the problem of pension reform as a public-private partnership issue with a long pedigree rather than as a new challenge stemming from existing or anticipated state failures.