Performance and Challenges of the Income Protection System for Older People in Ecuador

Performance and Challenges of the Income Protection System for Older People in Ecuador

The purpose of this work is to analyze the performance of the Ecuadorian pension system, its challenges, and available policy options. Therefore, the study analyzes coverage, financing sufficiency, and sustainability indicators that were created ba...

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Bibliographic Details
Main Author: Apella, Ignacio
Format: Working Paper
Language:English
Published: World Bank, Washington, DC 2019
Subjects:
PENSION SYSTEMS
PENSION REFORM
FISCAL SUSTAINABILITY
PUBLIC PENSIONS
Online Access:http://documents.worldbank.org/curated/en/210911565697273222/Performance-and-Challenges-of-the-Income-Protection-System-for-Older-People-in-Ecuador
http://hdl.handle.net/10986/32271
id okr-10986-32271
recordtype oai_dc
spelling okr-10986-322712022-09-20T00:14:56Z Performance and Challenges of the Income Protection System for Older People in Ecuador Apella, Ignacio PENSION SYSTEMS PENSION REFORM FISCAL SUSTAINABILITY PUBLIC PENSIONS The purpose of this work is to analyze the performance of the Ecuadorian pension system, its challenges, and available policy options. Therefore, the study analyzes coverage, financing sufficiency, and sustainability indicators that were created based on information from the Encuesta Nacional de Empleo, Desempleo y Subempleo (National Employment, Unemployment and Underemployment Survey) that was carried out over 2003-16. Likewise, actuarial simulations are made by using the World Bank pension reform options simulation toolkit. The findings show that, although in the latest 13 years there has been coverage extension, resulting from an increase in reported employment and an extension of noncontributory pensions, current coverage is still insufficient. In addition to the challenge posed to coverage extension, in the medium term, population aging would exert some pressure on financial sustainability that, within the current framework, would imply a deficit trend starting in the mid-2030s. However, some public policy areas, parametric as well as structural, have been identified that, together with an extension of noncontributory coverage, may provide a more supportive and sustainable scheme. 2019-08-16T15:37:51Z 2019-08-16T15:37:51Z 2019-08 Working Paper http://documents.worldbank.org/curated/en/210911565697273222/Performance-and-Challenges-of-the-Income-Protection-System-for-Older-People-in-Ecuador http://hdl.handle.net/10986/32271 English Policy Research Working Paper;No. 8978 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Policy Research Working Paper Latin America & Caribbean Ecuador
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
topic PENSION SYSTEMS
PENSION REFORM
FISCAL SUSTAINABILITY
PUBLIC PENSIONS
spellingShingle PENSION SYSTEMS
PENSION REFORM
FISCAL SUSTAINABILITY
PUBLIC PENSIONS
Apella, Ignacio
Performance and Challenges of the Income Protection System for Older People in Ecuador
geographic_facet Latin America & Caribbean
Ecuador
relation Policy Research Working Paper;No. 8978
description The purpose of this work is to analyze the performance of the Ecuadorian pension system, its challenges, and available policy options. Therefore, the study analyzes coverage, financing sufficiency, and sustainability indicators that were created based on information from the Encuesta Nacional de Empleo, Desempleo y Subempleo (National Employment, Unemployment and Underemployment Survey) that was carried out over 2003-16. Likewise, actuarial simulations are made by using the World Bank pension reform options simulation toolkit. The findings show that, although in the latest 13 years there has been coverage extension, resulting from an increase in reported employment and an extension of noncontributory pensions, current coverage is still insufficient. In addition to the challenge posed to coverage extension, in the medium term, population aging would exert some pressure on financial sustainability that, within the current framework, would imply a deficit trend starting in the mid-2030s. However, some public policy areas, parametric as well as structural, have been identified that, together with an extension of noncontributory coverage, may provide a more supportive and sustainable scheme.
format Working Paper
author Apella, Ignacio
author_facet Apella, Ignacio
author_sort Apella, Ignacio
title Performance and Challenges of the Income Protection System for Older People in Ecuador
title_short Performance and Challenges of the Income Protection System for Older People in Ecuador
title_full Performance and Challenges of the Income Protection System for Older People in Ecuador
title_fullStr Performance and Challenges of the Income Protection System for Older People in Ecuador
title_full_unstemmed Performance and Challenges of the Income Protection System for Older People in Ecuador
title_sort performance and challenges of the income protection system for older people in ecuador
publisher World Bank, Washington, DC
publishDate 2019
url http://documents.worldbank.org/curated/en/210911565697273222/Performance-and-Challenges-of-the-Income-Protection-System-for-Older-People-in-Ecuador
http://hdl.handle.net/10986/32271
_version_ 1764476195373580288

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