Bosnia and Herzegovina Pension System Note

The Bosnia and Herzegovina (BH) pension system currently consists of two pension funds, each functioning in one o f the two entities making up Bosnia and Herzegovina, the Federation (FBiH) and Republika Srpska (RS). Both pension systems have alread...

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Main Author:	World Bank
Format:	Policy Note
Language:	English en_US
Published:	Washington, DC 2014
Subjects:	ACCRUAL RATES AGED AVERAGE WAGE GROWTH BASIC BENEFIT BENEFIT FORMULA BUDGETARY SUPPORT CITIZENS CONTRIBUTION RATE CONTRIBUTION RATES DEPENDENCY RATIO DISABILITY DISABILITY PENSIONS EARNINGS HISTORIES EDUCATIONAL ATTAINMENT ELDERLY ELDERLY POPULATION GROSS WAGES HEALTH INSURANCE HUMAN DEVELOPMENT INEQUITIES INFLATION INDEXATION INFORMAL SECTOR INSTITUTIONAL FRAMEWORK INSTITUTIONAL STRUCTURE LABOR MARKET LABOR MARKETS LIMITED RESOURCES MACROECONOMIC STABILITY NET WAGE NOMINAL WAGES OLD AGE OPPORTUNITIES FOR INDIVIDUALS PENSION COVERAGE PENSION FUND PENSION FUNDS PENSION RIGHTS PENSION SYSTEM PENSION SYSTEM PARAMETERS PENSION SYSTEMS PENSIONERS PENSIONS POLITICAL DECISION POPULATION DECLINES POPULATION ESTIMATES POPULATION PROJECTIONS POPULATION STRUCTURE POTENTIAL CONTRIBUTION PRIVATE PENSION PRIVATIZATION PUBLIC SYSTEM REPLACEMENT RATE RESPECT RETIREES RETIREMENT RETIREMENT AGE RETIREMENT AGES RETIREMENT SAVINGS REVENUE COLLECTION SOCIAL CONSEQUENCES SOCIAL INSURANCE SOCIAL INSURANCE PROGRAMS SOCIAL INSURANCE SYSTEMS SOCIAL PENSION SOCIAL PROTECTION SPOUSE SURVIVOR PENSIONS TREATIES WAGE HISTORIES WAR WORKER CONTRIBUTIONS YOUNG AGE
Online Access:	http://documents.worldbank.org/curated/en/2007/06/7934756/bosnia-herzegovina-pension-system-note http://hdl.handle.net/10986/19243

id	okr-10986-19243
recordtype	oai_dc
spelling	okr-10986-192432021-04-23T14:03:46Z Bosnia and Herzegovina Pension System Note World Bank ACCRUAL RATES AGED AVERAGE WAGE GROWTH BASIC BENEFIT BENEFIT FORMULA BUDGETARY SUPPORT CITIZENS CONTRIBUTION RATE CONTRIBUTION RATES DEPENDENCY RATIO DISABILITY DISABILITY PENSIONS EARNINGS HISTORIES EDUCATIONAL ATTAINMENT ELDERLY ELDERLY POPULATION GROSS WAGES HEALTH INSURANCE HUMAN DEVELOPMENT INEQUITIES INFLATION INDEXATION INFORMAL SECTOR INSTITUTIONAL FRAMEWORK INSTITUTIONAL STRUCTURE LABOR MARKET LABOR MARKETS LIMITED RESOURCES MACROECONOMIC STABILITY NET WAGE NOMINAL WAGES OLD AGE OPPORTUNITIES FOR INDIVIDUALS PENSION COVERAGE PENSION FUND PENSION FUNDS PENSION RIGHTS PENSION SYSTEM PENSION SYSTEM PARAMETERS PENSION SYSTEMS PENSIONERS PENSIONS POLITICAL DECISION POPULATION DECLINES POPULATION ESTIMATES POPULATION PROJECTIONS POPULATION STRUCTURE POTENTIAL CONTRIBUTION PRIVATE PENSION PRIVATIZATION PUBLIC SYSTEM REPLACEMENT RATE RESPECT RETIREES RETIREMENT RETIREMENT AGE RETIREMENT AGES RETIREMENT SAVINGS REVENUE COLLECTION SOCIAL CONSEQUENCES SOCIAL INSURANCE SOCIAL INSURANCE PROGRAMS SOCIAL INSURANCE SYSTEMS SOCIAL PENSION SOCIAL PROTECTION SPOUSE SURVIVOR PENSIONS TREATIES WAGE HISTORIES WAR WORKER CONTRIBUTIONS YOUNG AGE The Bosnia and Herzegovina (BH) pension system currently consists of two pension funds, each functioning in one o f the two entities making up Bosnia and Herzegovina, the Federation (FBiH) and Republika Srpska (RS). Both pension systems have already undertaken substantial reforms supported by the World Bank. However, critical problems still exist in both systems and will only worsen with time. This note provides an evaluation of the current system and provides some possible reform options. The note is organized as follows: Section 2 contains a brief overview of the historical development of the pension systems, Section 3 contains a brief overview of the current demographics and financial status of the pension funds, Section 4 provides a detailed review of the pension system design parameters in each system, providing international comparisons, Section 5 provides projections of the financial and social consequences of today's parameters, Section 6 provides some reform options which harmonize parameters across the two entities and remove the most obvious disincentives in the current systems, Section 7 provides a longer run view on options for dealing with declining pension coverage among the elderly, and Section 8 concludes. 2014-08-01T20:36:24Z 2014-08-01T20:36:24Z 2007-06-15 http://documents.worldbank.org/curated/en/2007/06/7934756/bosnia-herzegovina-pension-system-note http://hdl.handle.net/10986/19243 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ Washington, DC Economic & Sector Work :: Policy Note Economic & Sector Work Europe and Central Asia Bosnia and Herzegovina
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	ACCRUAL RATES AGED AVERAGE WAGE GROWTH BASIC BENEFIT BENEFIT FORMULA BUDGETARY SUPPORT CITIZENS CONTRIBUTION RATE CONTRIBUTION RATES DEPENDENCY RATIO DISABILITY DISABILITY PENSIONS EARNINGS HISTORIES EDUCATIONAL ATTAINMENT ELDERLY ELDERLY POPULATION GROSS WAGES HEALTH INSURANCE HUMAN DEVELOPMENT INEQUITIES INFLATION INDEXATION INFORMAL SECTOR INSTITUTIONAL FRAMEWORK INSTITUTIONAL STRUCTURE LABOR MARKET LABOR MARKETS LIMITED RESOURCES MACROECONOMIC STABILITY NET WAGE NOMINAL WAGES OLD AGE OPPORTUNITIES FOR INDIVIDUALS PENSION COVERAGE PENSION FUND PENSION FUNDS PENSION RIGHTS PENSION SYSTEM PENSION SYSTEM PARAMETERS PENSION SYSTEMS PENSIONERS PENSIONS POLITICAL DECISION POPULATION DECLINES POPULATION ESTIMATES POPULATION PROJECTIONS POPULATION STRUCTURE POTENTIAL CONTRIBUTION PRIVATE PENSION PRIVATIZATION PUBLIC SYSTEM REPLACEMENT RATE RESPECT RETIREES RETIREMENT RETIREMENT AGE RETIREMENT AGES RETIREMENT SAVINGS REVENUE COLLECTION SOCIAL CONSEQUENCES SOCIAL INSURANCE SOCIAL INSURANCE PROGRAMS SOCIAL INSURANCE SYSTEMS SOCIAL PENSION SOCIAL PROTECTION SPOUSE SURVIVOR PENSIONS TREATIES WAGE HISTORIES WAR WORKER CONTRIBUTIONS YOUNG AGE
spellingShingle	ACCRUAL RATES AGED AVERAGE WAGE GROWTH BASIC BENEFIT BENEFIT FORMULA BUDGETARY SUPPORT CITIZENS CONTRIBUTION RATE CONTRIBUTION RATES DEPENDENCY RATIO DISABILITY DISABILITY PENSIONS EARNINGS HISTORIES EDUCATIONAL ATTAINMENT ELDERLY ELDERLY POPULATION GROSS WAGES HEALTH INSURANCE HUMAN DEVELOPMENT INEQUITIES INFLATION INDEXATION INFORMAL SECTOR INSTITUTIONAL FRAMEWORK INSTITUTIONAL STRUCTURE LABOR MARKET LABOR MARKETS LIMITED RESOURCES MACROECONOMIC STABILITY NET WAGE NOMINAL WAGES OLD AGE OPPORTUNITIES FOR INDIVIDUALS PENSION COVERAGE PENSION FUND PENSION FUNDS PENSION RIGHTS PENSION SYSTEM PENSION SYSTEM PARAMETERS PENSION SYSTEMS PENSIONERS PENSIONS POLITICAL DECISION POPULATION DECLINES POPULATION ESTIMATES POPULATION PROJECTIONS POPULATION STRUCTURE POTENTIAL CONTRIBUTION PRIVATE PENSION PRIVATIZATION PUBLIC SYSTEM REPLACEMENT RATE RESPECT RETIREES RETIREMENT RETIREMENT AGE RETIREMENT AGES RETIREMENT SAVINGS REVENUE COLLECTION SOCIAL CONSEQUENCES SOCIAL INSURANCE SOCIAL INSURANCE PROGRAMS SOCIAL INSURANCE SYSTEMS SOCIAL PENSION SOCIAL PROTECTION SPOUSE SURVIVOR PENSIONS TREATIES WAGE HISTORIES WAR WORKER CONTRIBUTIONS YOUNG AGE World Bank Bosnia and Herzegovina Pension System Note
geographic_facet	Europe and Central Asia Bosnia and Herzegovina
description	The Bosnia and Herzegovina (BH) pension system currently consists of two pension funds, each functioning in one o f the two entities making up Bosnia and Herzegovina, the Federation (FBiH) and Republika Srpska (RS). Both pension systems have already undertaken substantial reforms supported by the World Bank. However, critical problems still exist in both systems and will only worsen with time. This note provides an evaluation of the current system and provides some possible reform options. The note is organized as follows: Section 2 contains a brief overview of the historical development of the pension systems, Section 3 contains a brief overview of the current demographics and financial status of the pension funds, Section 4 provides a detailed review of the pension system design parameters in each system, providing international comparisons, Section 5 provides projections of the financial and social consequences of today's parameters, Section 6 provides some reform options which harmonize parameters across the two entities and remove the most obvious disincentives in the current systems, Section 7 provides a longer run view on options for dealing with declining pension coverage among the elderly, and Section 8 concludes.
format	Economic & Sector Work :: Policy Note
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	Bosnia and Herzegovina Pension System Note
title_short	Bosnia and Herzegovina Pension System Note
title_full	Bosnia and Herzegovina Pension System Note
title_fullStr	Bosnia and Herzegovina Pension System Note
title_full_unstemmed	Bosnia and Herzegovina Pension System Note
title_sort	bosnia and herzegovina pension system note
publisher	Washington, DC
publishDate	2014
url	http://documents.worldbank.org/curated/en/2007/06/7934756/bosnia-herzegovina-pension-system-note http://hdl.handle.net/10986/19243
_version_	1764441251953770496

Bosnia and Herzegovina Pension System Note

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