An Assessment Of Reform Options For The Public Service Pension Fund In Uganda

This paper analyzes the future liabilities that the Ugandan Public Service Pensions Fund might accumulate under the provisions of the Pensions Act (CAP 286) unless it is reformed. It then discusses alternative reform options that can be used in designing an educated homegrown reform of the fund. The...

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Main Authors:	Bogomolova, Tatiana, Impavido, Gregorio, Pallares-Miralles, Montserrat
Format:	Policy Research Working Paper
Language:	English en_US
Published:	World Bank, Washington, DC 2012
Subjects:	ANNUITIES ANNUITY ASSET MANAGEMENT AVERAGE WAGE AVERAGE WAGE GROWTH BENEFIT FORMULA BENEFIT INDEXATION BENEFIT PAYMENT CONTRIBUTION RATE CONTRIBUTION RATES DEPENDENCY RATIO DEPENDENCY RATIOS DEVELOPMENT POLICIES DISABILITY DISCOUNT RATES EARNING EMPLOYEE FULL-CAREER WORKER FUTURE PAYMENTS GOVERNMENT EXPENDITURE GROSS WAGE HEALTH CARE IMPORTANT POLICY INVESTMENT RISK LABOUR LABOUR FORCE LEVEL OF DEVELOPMENT LIFE EXPECTANCY LIFETIME EARNINGS LOCAL AUTHORITIES LONGEVITY INSURANCE MANAGERS MORTALITY NUMBER OF WOMEN NUMBER OF WORKERS OLD AGE OLD-AGE OLDER PERSONS OLDER WORKERS ORPHANS PAYROLL TAX PAYROLL TAXES PENSION PENSION COVERAGE PENSION FUND PENSION FUND MANAGEMENT PENSION LIABILITIES PENSION REFORM PENSION SYSTEM PENSION WEALTH PENSIONERS PENSIONS POLICY RESEARCH POLICY RESEARCH WORKING PAPER POPULATION GROWTH POPULATION GROWTH RATES PRESENT VALUE PRICE INDEXATION PRIVATE SECTOR PROGRESS PUBLIC DEBT PUBLIC SECTOR PUBLIC SERVICE REFORM PROCESS REFORMS REPLACEMENT RATE REPLACEMENT RATES RETIREES RETIREMENT RETIREMENT BENEFITS RETURN ON ASSETS SECONDARY SCHOOL SERVANTS SOCIAL PROTECTION SOCIAL SECURITY WAGE BILL WORKING POPULATION WORKING-AGE POPULATION YOUNG PEOPLE
Online Access:	http://documents.worldbank.org/curated/en/2006/12/7423208/assessment-reform-options-public-service-pension-fund-uganda http://hdl.handle.net/10986/8950

id	okr-10986-8950
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spelling	okr-10986-89502021-04-23T14:02:42Z An Assessment Of Reform Options For The Public Service Pension Fund In Uganda Bogomolova, Tatiana Impavido, Gregorio Pallares-Miralles, Montserrat ANNUITIES ANNUITY ASSET MANAGEMENT AVERAGE WAGE AVERAGE WAGE GROWTH BENEFIT FORMULA BENEFIT INDEXATION BENEFIT PAYMENT CONTRIBUTION RATE CONTRIBUTION RATES DEPENDENCY RATIO DEPENDENCY RATIOS DEVELOPMENT POLICIES DISABILITY DISCOUNT RATES EARNING EMPLOYEE FULL-CAREER WORKER FUTURE PAYMENTS GOVERNMENT EXPENDITURE GROSS WAGE HEALTH CARE IMPORTANT POLICY INVESTMENT RISK LABOUR LABOUR FORCE LEVEL OF DEVELOPMENT LIFE EXPECTANCY LIFETIME EARNINGS LOCAL AUTHORITIES LONGEVITY INSURANCE MANAGERS MORTALITY NUMBER OF WOMEN NUMBER OF WORKERS OLD AGE OLD-AGE OLDER PERSONS OLDER WORKERS ORPHANS PAYROLL TAX PAYROLL TAXES PENSION PENSION COVERAGE PENSION FUND PENSION FUND MANAGEMENT PENSION LIABILITIES PENSION REFORM PENSION SYSTEM PENSION WEALTH PENSIONERS PENSIONS POLICY RESEARCH POLICY RESEARCH WORKING PAPER POPULATION GROWTH POPULATION GROWTH RATES PRESENT VALUE PRICE INDEXATION PRIVATE SECTOR PROGRESS PUBLIC DEBT PUBLIC SECTOR PUBLIC SERVICE REFORM PROCESS REFORMS REPLACEMENT RATE REPLACEMENT RATES RETIREES RETIREMENT RETIREMENT BENEFITS RETURN ON ASSETS SECONDARY SCHOOL SERVANTS SOCIAL PROTECTION SOCIAL SECURITY WAGE BILL WORKING POPULATION WORKING-AGE POPULATION YOUNG PEOPLE This paper analyzes the future liabilities that the Ugandan Public Service Pensions Fund might accumulate under the provisions of the Pensions Act (CAP 286) unless it is reformed. It then discusses alternative reform options that can be used in designing an educated homegrown reform of the fund. The paper supports a hybrid (two-pillar) reform option composed of a small defined benefit scheme and a complementary defined contribution scheme, instead of a pure defined contribution (monopillar) reform option discussed by policymakers in the country. The main reason for this is related to the fact that hybrid and pure defined contribution reforms will have the same impact on reducing pension expenditure (for the same grandfathering rules and surplus in the first pillar). In addition, everything else being equal, the hybrid reform is likely to produce higher average replacement rates due to the redistributive and pooling properties of the small defined benefit pillar. 2012-06-25T17:34:35Z 2012-06-25T17:34:35Z 2006-12 http://documents.worldbank.org/curated/en/2006/12/7423208/assessment-reform-options-public-service-pension-fund-uganda http://hdl.handle.net/10986/8950 English en_US Policy Research Working Paper; No. 4091 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research :: Policy Research Working Paper Publications & Research Sub-Saharan Africa East Africa Uganda
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	ANNUITIES ANNUITY ASSET MANAGEMENT AVERAGE WAGE AVERAGE WAGE GROWTH BENEFIT FORMULA BENEFIT INDEXATION BENEFIT PAYMENT CONTRIBUTION RATE CONTRIBUTION RATES DEPENDENCY RATIO DEPENDENCY RATIOS DEVELOPMENT POLICIES DISABILITY DISCOUNT RATES EARNING EMPLOYEE FULL-CAREER WORKER FUTURE PAYMENTS GOVERNMENT EXPENDITURE GROSS WAGE HEALTH CARE IMPORTANT POLICY INVESTMENT RISK LABOUR LABOUR FORCE LEVEL OF DEVELOPMENT LIFE EXPECTANCY LIFETIME EARNINGS LOCAL AUTHORITIES LONGEVITY INSURANCE MANAGERS MORTALITY NUMBER OF WOMEN NUMBER OF WORKERS OLD AGE OLD-AGE OLDER PERSONS OLDER WORKERS ORPHANS PAYROLL TAX PAYROLL TAXES PENSION PENSION COVERAGE PENSION FUND PENSION FUND MANAGEMENT PENSION LIABILITIES PENSION REFORM PENSION SYSTEM PENSION WEALTH PENSIONERS PENSIONS POLICY RESEARCH POLICY RESEARCH WORKING PAPER POPULATION GROWTH POPULATION GROWTH RATES PRESENT VALUE PRICE INDEXATION PRIVATE SECTOR PROGRESS PUBLIC DEBT PUBLIC SECTOR PUBLIC SERVICE REFORM PROCESS REFORMS REPLACEMENT RATE REPLACEMENT RATES RETIREES RETIREMENT RETIREMENT BENEFITS RETURN ON ASSETS SECONDARY SCHOOL SERVANTS SOCIAL PROTECTION SOCIAL SECURITY WAGE BILL WORKING POPULATION WORKING-AGE POPULATION YOUNG PEOPLE
spellingShingle	ANNUITIES ANNUITY ASSET MANAGEMENT AVERAGE WAGE AVERAGE WAGE GROWTH BENEFIT FORMULA BENEFIT INDEXATION BENEFIT PAYMENT CONTRIBUTION RATE CONTRIBUTION RATES DEPENDENCY RATIO DEPENDENCY RATIOS DEVELOPMENT POLICIES DISABILITY DISCOUNT RATES EARNING EMPLOYEE FULL-CAREER WORKER FUTURE PAYMENTS GOVERNMENT EXPENDITURE GROSS WAGE HEALTH CARE IMPORTANT POLICY INVESTMENT RISK LABOUR LABOUR FORCE LEVEL OF DEVELOPMENT LIFE EXPECTANCY LIFETIME EARNINGS LOCAL AUTHORITIES LONGEVITY INSURANCE MANAGERS MORTALITY NUMBER OF WOMEN NUMBER OF WORKERS OLD AGE OLD-AGE OLDER PERSONS OLDER WORKERS ORPHANS PAYROLL TAX PAYROLL TAXES PENSION PENSION COVERAGE PENSION FUND PENSION FUND MANAGEMENT PENSION LIABILITIES PENSION REFORM PENSION SYSTEM PENSION WEALTH PENSIONERS PENSIONS POLICY RESEARCH POLICY RESEARCH WORKING PAPER POPULATION GROWTH POPULATION GROWTH RATES PRESENT VALUE PRICE INDEXATION PRIVATE SECTOR PROGRESS PUBLIC DEBT PUBLIC SECTOR PUBLIC SERVICE REFORM PROCESS REFORMS REPLACEMENT RATE REPLACEMENT RATES RETIREES RETIREMENT RETIREMENT BENEFITS RETURN ON ASSETS SECONDARY SCHOOL SERVANTS SOCIAL PROTECTION SOCIAL SECURITY WAGE BILL WORKING POPULATION WORKING-AGE POPULATION YOUNG PEOPLE Bogomolova, Tatiana Impavido, Gregorio Pallares-Miralles, Montserrat An Assessment Of Reform Options For The Public Service Pension Fund In Uganda
geographic_facet	Sub-Saharan Africa East Africa Uganda
relation	Policy Research Working Paper; No. 4091
description	This paper analyzes the future liabilities that the Ugandan Public Service Pensions Fund might accumulate under the provisions of the Pensions Act (CAP 286) unless it is reformed. It then discusses alternative reform options that can be used in designing an educated homegrown reform of the fund. The paper supports a hybrid (two-pillar) reform option composed of a small defined benefit scheme and a complementary defined contribution scheme, instead of a pure defined contribution (monopillar) reform option discussed by policymakers in the country. The main reason for this is related to the fact that hybrid and pure defined contribution reforms will have the same impact on reducing pension expenditure (for the same grandfathering rules and surplus in the first pillar). In addition, everything else being equal, the hybrid reform is likely to produce higher average replacement rates due to the redistributive and pooling properties of the small defined benefit pillar.
format	Publications & Research :: Policy Research Working Paper
author	Bogomolova, Tatiana Impavido, Gregorio Pallares-Miralles, Montserrat
author_facet	Bogomolova, Tatiana Impavido, Gregorio Pallares-Miralles, Montserrat
author_sort	Bogomolova, Tatiana
title	An Assessment Of Reform Options For The Public Service Pension Fund In Uganda
title_short	An Assessment Of Reform Options For The Public Service Pension Fund In Uganda
title_full	An Assessment Of Reform Options For The Public Service Pension Fund In Uganda
title_fullStr	An Assessment Of Reform Options For The Public Service Pension Fund In Uganda
title_full_unstemmed	An Assessment Of Reform Options For The Public Service Pension Fund In Uganda
title_sort	assessment of reform options for the public service pension fund in uganda
publisher	World Bank, Washington, DC
publishDate	2012
url	http://documents.worldbank.org/curated/en/2006/12/7423208/assessment-reform-options-public-service-pension-fund-uganda http://hdl.handle.net/10986/8950
_version_	1764406856586887168

An Assessment Of Reform Options For The Public Service Pension Fund In Uganda

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