Mongolia : Policy Options for Pension Reform

Mongolia : Policy Options for Pension Reform

This report evaluates the adequacy and sustainability of the Mongolian pension insurance scheme. It analyzes recent changes to pension parameters including amendments enacted in 2017 and early 2018. The report uses actuarial projections to assess t...

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Bibliographic Details
Main Author: Dorfman, Mark Charles
Format: Report
Language:English
Published: World Bank, Washington, DC 2020
Subjects:
PENSION REFORM
CONTRIBUTION RATE
RETIREMENT AGE
PENSION INSURANCE FUND
LIFE EXPECTANCY
FINANCING GAP
Online Access:http://documents.worldbank.org/curated/en/873841592807081133/Mongolia-Policy-Options-for-Pension-Reform
http://hdl.handle.net/10986/34188
id okr-10986-34188
recordtype oai_dc
spelling okr-10986-341882021-05-25T09:57:31Z Mongolia : Policy Options for Pension Reform Dorfman, Mark Charles PENSION REFORM CONTRIBUTION RATE RETIREMENT AGE PENSION INSURANCE FUND LIFE EXPECTANCY FINANCING GAP This report evaluates the adequacy and sustainability of the Mongolian pension insurance scheme. It analyzes recent changes to pension parameters including amendments enacted in 2017 and early 2018. The report uses actuarial projections to assess the impact of changes, including the contribution rate and retirement age, on the fiscal costs of state subsidies to the scheme. The report finds that 2017-2018 changes including a discounted service buyback, reduction in herders’ retirement ages, and several supplements to service histories for herders and mothers will materially impact the sustainability and incentives of the scheme. It recommends several changes in parameters to limit the growth in fiscal costs and improve incentives. It also presents transition arrangements to smooth the impact of the reforms presented. 2020-07-24T14:41:32Z 2020-07-24T14:41:32Z 2018-05-01 Report http://documents.worldbank.org/curated/en/873841592807081133/Mongolia-Policy-Options-for-Pension-Reform http://hdl.handle.net/10986/34188 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work Economic & Sector Work :: Other Social Protection Study East Asia and Pacific Mongolia
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
topic PENSION REFORM
CONTRIBUTION RATE
RETIREMENT AGE
PENSION INSURANCE FUND
LIFE EXPECTANCY
FINANCING GAP
spellingShingle PENSION REFORM
CONTRIBUTION RATE
RETIREMENT AGE
PENSION INSURANCE FUND
LIFE EXPECTANCY
FINANCING GAP
Dorfman, Mark Charles
Mongolia : Policy Options for Pension Reform
geographic_facet East Asia and Pacific
Mongolia
description This report evaluates the adequacy and sustainability of the Mongolian pension insurance scheme. It analyzes recent changes to pension parameters including amendments enacted in 2017 and early 2018. The report uses actuarial projections to assess the impact of changes, including the contribution rate and retirement age, on the fiscal costs of state subsidies to the scheme. The report finds that 2017-2018 changes including a discounted service buyback, reduction in herders’ retirement ages, and several supplements to service histories for herders and mothers will materially impact the sustainability and incentives of the scheme. It recommends several changes in parameters to limit the growth in fiscal costs and improve incentives. It also presents transition arrangements to smooth the impact of the reforms presented.
format Report
author Dorfman, Mark Charles
author_facet Dorfman, Mark Charles
author_sort Dorfman, Mark Charles
title Mongolia : Policy Options for Pension Reform
title_short Mongolia : Policy Options for Pension Reform
title_full Mongolia : Policy Options for Pension Reform
title_fullStr Mongolia : Policy Options for Pension Reform
title_full_unstemmed Mongolia : Policy Options for Pension Reform
title_sort mongolia : policy options for pension reform
publisher World Bank, Washington, DC
publishDate 2020
url http://documents.worldbank.org/curated/en/873841592807081133/Mongolia-Policy-Options-for-Pension-Reform
http://hdl.handle.net/10986/34188
_version_ 1764480280140185600

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