Republic of Djibouti - Pension System Reform : Strategic Note
The Government of Djibouti has committed to reform its pension system in order to restore financial sustainability and improve management. To this end, it requested the World Bank to elaborate a pension reform strategy that identifies the major fin...
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| Language: | English en_US |
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2013
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| Online Access: | http://documents.worldbank.org/curated/en/2001/12/1653710/djibouti-pension-system-reform-strategic-note http://hdl.handle.net/10986/15462 |
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okr-10986-154622021-04-23T14:03:14Z Republic of Djibouti - Pension System Reform : Strategic Note World Bank PENSION REFORM PAY-AS-YOU-GO SYSTEMS INSTITUTIONAL FRAMEWORK INSTITUTIONAL REFORM GOVERNANCE PENSION FUND MANAGEMENT SERVICE DELIVERY ADMINISTRATIVE COSTS GOVERNMENT CONTRIBUTIONS PENSION FUNDS FINANCE ARREARAGES INCENTIVES SAVINGS PROMOTION CONTRACTUAL SAVINGS INFORMATION SYSTEMS INSTITUTIONAL CAPACITY PENSION FUNDS TAXATION GOVERNMENT FINANCIAL INSTITUTIONS CASH FLOW ACCIDENTS ACCOUNTING ACCOUNTING SYSTEM ADMINISTRATIVE COSTS AGED AGING AUDITING BASIC PENSION BUDGET SURPLUS CAPITALIZATION CONTRIBUTION PERIOD CONTRIBUTION RATE CONTRIBUTION RATES DEFICITS DEPENDENCY RATIO ECONOMIC GROWTH EQUILIBRIUM EVASION EXPENDITURES FISCAL DISCIPLINE FISCAL YEAR GROSS DOMESTIC PRODUCT HEALTH SERVICES HUMAN DEVELOPMENT INCOME INDIVIDUAL ACCOUNTS LABOR FORCE LIFE EVENTS LIQUIDATION MANAGERS NATIONAL PENSIONS PAYROLL TAX PENALTIES PENSION COVERAGE PENSION FUND PENSION FUNDS PENSION REFORM PENSION SYSTEM PENSION SYSTEM REFORM PENSION SYSTEMS PENSIONERS POPULATION GROWTH PRESENT VALUE PRIVATE SECTOR PRIVATIZATION PRODUCTIVITY PRODUCTIVITY GROWTH PUBLIC ENTERPRISES PUBLIC SECTOR REPLACEMENT RATE REPLACEMENT RATES RESOURCES MANAGEMENT RETIREES RETIREMENT RETIREMENT AGE SAVINGS SOCIAL PROTECTION SOCIAL SECURITY STRUCTURAL ADJUSTMENT WAGES WORKERS The Government of Djibouti has committed to reform its pension system in order to restore financial sustainability and improve management. To this end, it requested the World Bank to elaborate a pension reform strategy that identifies the major financial and institutional constraints facing the pension funds and explores restructuring options. This policy note summarizes the major diagnosis and policy recommendations of the study, reflecting comments from government officials and the Bank's technical experts during the internal review meeting held on March 15, 2001. In the case of Djibouti, a two-stage reform program is proposed. A first stage would concentrate on consolidating a modest pay-as-you-go system, and involve executing three major activities: 1) implementing institutional reforms to improve governance and management, and to generate efficiency gains that enhance service delivery and reduce administrative costs; 2) addressing short-term financial needs by normalizing government contributions, defining a plan to refinance government arrears, and introducing a ceiling for the replacement rate in the regime for parliamentarians; and 3) improving the medium-term financial situation of the pension funds. A second stage of the reform program would focus on merging the Social Protection Organism (OPS) and the National Pensions Fund (CNR); and introducing/reinforcing incentives to promote contractual savings. 2013-08-28T20:56:42Z 2013-08-28T20:56:42Z 2001-12 http://documents.worldbank.org/curated/en/2001/12/1653710/djibouti-pension-system-reform-strategic-note http://hdl.handle.net/10986/15462 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Middle East and North Africa Djibouti |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
PENSION REFORM PAY-AS-YOU-GO SYSTEMS INSTITUTIONAL FRAMEWORK INSTITUTIONAL REFORM GOVERNANCE PENSION FUND MANAGEMENT SERVICE DELIVERY ADMINISTRATIVE COSTS GOVERNMENT CONTRIBUTIONS PENSION FUNDS FINANCE ARREARAGES INCENTIVES SAVINGS PROMOTION CONTRACTUAL SAVINGS INFORMATION SYSTEMS INSTITUTIONAL CAPACITY PENSION FUNDS TAXATION GOVERNMENT FINANCIAL INSTITUTIONS CASH FLOW ACCIDENTS ACCOUNTING ACCOUNTING SYSTEM ADMINISTRATIVE COSTS AGED AGING AUDITING BASIC PENSION BUDGET SURPLUS CAPITALIZATION CONTRIBUTION PERIOD CONTRIBUTION RATE CONTRIBUTION RATES DEFICITS DEPENDENCY RATIO ECONOMIC GROWTH EQUILIBRIUM EVASION EXPENDITURES FISCAL DISCIPLINE FISCAL YEAR GROSS DOMESTIC PRODUCT HEALTH SERVICES HUMAN DEVELOPMENT INCOME INDIVIDUAL ACCOUNTS LABOR FORCE LIFE EVENTS LIQUIDATION MANAGERS NATIONAL PENSIONS PAYROLL TAX PENALTIES PENSION COVERAGE PENSION FUND PENSION FUNDS PENSION REFORM PENSION SYSTEM PENSION SYSTEM REFORM PENSION SYSTEMS PENSIONERS POPULATION GROWTH PRESENT VALUE PRIVATE SECTOR PRIVATIZATION PRODUCTIVITY PRODUCTIVITY GROWTH PUBLIC ENTERPRISES PUBLIC SECTOR REPLACEMENT RATE REPLACEMENT RATES RESOURCES MANAGEMENT RETIREES RETIREMENT RETIREMENT AGE SAVINGS SOCIAL PROTECTION SOCIAL SECURITY STRUCTURAL ADJUSTMENT WAGES WORKERS |
| spellingShingle |
PENSION REFORM PAY-AS-YOU-GO SYSTEMS INSTITUTIONAL FRAMEWORK INSTITUTIONAL REFORM GOVERNANCE PENSION FUND MANAGEMENT SERVICE DELIVERY ADMINISTRATIVE COSTS GOVERNMENT CONTRIBUTIONS PENSION FUNDS FINANCE ARREARAGES INCENTIVES SAVINGS PROMOTION CONTRACTUAL SAVINGS INFORMATION SYSTEMS INSTITUTIONAL CAPACITY PENSION FUNDS TAXATION GOVERNMENT FINANCIAL INSTITUTIONS CASH FLOW ACCIDENTS ACCOUNTING ACCOUNTING SYSTEM ADMINISTRATIVE COSTS AGED AGING AUDITING BASIC PENSION BUDGET SURPLUS CAPITALIZATION CONTRIBUTION PERIOD CONTRIBUTION RATE CONTRIBUTION RATES DEFICITS DEPENDENCY RATIO ECONOMIC GROWTH EQUILIBRIUM EVASION EXPENDITURES FISCAL DISCIPLINE FISCAL YEAR GROSS DOMESTIC PRODUCT HEALTH SERVICES HUMAN DEVELOPMENT INCOME INDIVIDUAL ACCOUNTS LABOR FORCE LIFE EVENTS LIQUIDATION MANAGERS NATIONAL PENSIONS PAYROLL TAX PENALTIES PENSION COVERAGE PENSION FUND PENSION FUNDS PENSION REFORM PENSION SYSTEM PENSION SYSTEM REFORM PENSION SYSTEMS PENSIONERS POPULATION GROWTH PRESENT VALUE PRIVATE SECTOR PRIVATIZATION PRODUCTIVITY PRODUCTIVITY GROWTH PUBLIC ENTERPRISES PUBLIC SECTOR REPLACEMENT RATE REPLACEMENT RATES RESOURCES MANAGEMENT RETIREES RETIREMENT RETIREMENT AGE SAVINGS SOCIAL PROTECTION SOCIAL SECURITY STRUCTURAL ADJUSTMENT WAGES WORKERS World Bank Republic of Djibouti - Pension System Reform : Strategic Note |
| geographic_facet |
Middle East and North Africa Djibouti |
| description |
The Government of Djibouti has committed
to reform its pension system in order to restore financial
sustainability and improve management. To this end, it
requested the World Bank to elaborate a pension reform
strategy that identifies the major financial and
institutional constraints facing the pension funds and
explores restructuring options. This policy note summarizes
the major diagnosis and policy recommendations of the study,
reflecting comments from government officials and the
Bank's technical experts during the internal review
meeting held on March 15, 2001. In the case of Djibouti, a
two-stage reform program is proposed. A first stage would
concentrate on consolidating a modest pay-as-you-go system,
and involve executing three major activities: 1)
implementing institutional reforms to improve governance and
management, and to generate efficiency gains that enhance
service delivery and reduce administrative costs; 2)
addressing short-term financial needs by normalizing
government contributions, defining a plan to refinance
government arrears, and introducing a ceiling for the
replacement rate in the regime for parliamentarians; and 3)
improving the medium-term financial situation of the pension
funds. A second stage of the reform program would focus on
merging the Social Protection Organism (OPS) and the
National Pensions Fund (CNR); and introducing/reinforcing
incentives to promote contractual savings. |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Republic of Djibouti - Pension System Reform : Strategic Note |
| title_short |
Republic of Djibouti - Pension System Reform : Strategic Note |
| title_full |
Republic of Djibouti - Pension System Reform : Strategic Note |
| title_fullStr |
Republic of Djibouti - Pension System Reform : Strategic Note |
| title_full_unstemmed |
Republic of Djibouti - Pension System Reform : Strategic Note |
| title_sort |
republic of djibouti - pension system reform : strategic note |
| publisher |
Washington, DC |
| publishDate |
2013 |
| url |
http://documents.worldbank.org/curated/en/2001/12/1653710/djibouti-pension-system-reform-strategic-note http://hdl.handle.net/10986/15462 |
| _version_ |
1764426718515298304 |