Public Sector Pensions

Public Sector Pensions

Author: Gerald Rhodes

Publisher: Published for the Royal Institute of Public Administration [by the] University of Toronto Press

ISBN: UCAL:$B674419

Category: Business & Economics

Page: 328

View: 497

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This is the first book to offer a fundamental analysis of public sector schemes. It takes a new look at a whole trange of problems affecting the retirement benefits of most of the population and ends with some very challenging, positive proposals.

Pensions in the Public Sector

Pensions in the Public Sector

Author: Wharton School. Pension Research Council

Publisher: University of Pennsylvania Press

ISBN: 0812235789

Category: Business & Economics

Page: 692

View: 424

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From the Pension Research Council of the Wharton School, this book explores the diversity of governmental pension plans and investigates how these financial institutions must change in years to come.

Pension Ponzi

Pension Ponzi

Author: Bill Tufts

Publisher: John Wiley & Sons

ISBN: 9781118098738

Category: Business & Economics

Page: 218

View: 735

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The vast majority of Canadians are blissfully unaware that every man, woman and child in Canada now owes a $35,000 share of government debt and must pay this back, with interest! Make no mistake, this debt will change our country and affect every single Canadian in the decades to come. You may think you have planned for your retirement and are safe, but the government must find a way to recover this borrowed money, and they can only do that by raising your taxes and reducing your hard-earned benefits. How did this debt come about, and why can't we simply pay it off? Pension Ponzi lays the blame squarely at the feet of the politicians who refused to stand up to Canada's public sector unions. The fact is Canada's public sector, which accounts for 20% of the workforce, has been grossly overpaid relative to their counterparts in the private sector with cushy pensions paid for with your taxes and new debt. There is no denying that the country does not have the financial resources to ensure that the next generation of Canadians will have the same standard of living as the ones before it-or to support our growing seniors population. Meeting our public sector pension obligations will break the current social safety net that is a pillar of the Canadian way. Can you escape this bleak future? Can you afford to live longer? Nationally-recognized pension expert Bill Tufts and award-winning journalist Lee Fairbanks explore how this catastrophe came about and then suggest ways that government can fix what's broken, and how you as an individual can protect yourself from the financial calamity that is about to engulf Canada.

A History of Public Sector Pensions in the United States

A History of Public Sector Pensions in the United States

Author: Robert L. Clark

Publisher: University of Pennsylvania Press

ISBN: 0812237145

Category: Business & Economics

Page: 280

View: 609

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From the Wharton School, offering a comprehensive assessment of the political and financial dimensions of public-sector pensions from the colonial period until the emergence of modern retirement plans in the twentieth century.

The Role of the State in Pension Provision: Employer, Regulator, Provider

The Role of the State in Pension Provision: Employer, Regulator, Provider

Author: Gerard Hughes

Publisher: Springer Science & Business Media

ISBN: 0792384334

Category: Business & Economics

Page: 186

View: 595

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This book deals with the role of the State in pension provision as an employer, regulator and provider. Part I deals with problems and reforms of public sector pension systems in OECD countries. The countries covered are Denmark, Finland, Germany, The Netherlands, Norway, and the USA. Part II considers the regulation of occupational pension schemes in The Netherlands and the United Kingdom, and whether there is still a role for the State in providing earnings-related pensions in the United Kingdom. Part III presents demographic projections for the next half-century, using Ireland as an example, looks at some of the options which have been used in Finland, and proposed in the United States, to cope with population ageing, and examines issues of intergenerational equity which are posed by these options. All the chapters deal with recent reforms. The chapters are written by acknowledged experts in their field who are independent of both the pensions industry and Government. Hence the chapters provide an informed critical account of current developments in relation to the reform of occupational pension schemes in the public sector and of the debate about the State's role as a regulator of private pension schemes and a provider of pensions based on the social insurance principal. The book is important as a source of information about pension schemes in OECD countries. It shows that there is not a unique model of occupational pension provision for public sector employees and that the pension benefits which are provided in different countries are quite variable. It also shows that public sector occupational pension systems have changed and are in the process of considerable further change in a number of OECD countries.

Japan's Public Sector Balance Sheet

Japan's Public Sector Balance Sheet

Author: Yugo Koshima

Publisher: International Monetary Fund

ISBN: 9781513514529

Category: Business & Economics

Page: 41

View: 850

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This paper compiles and reviews the evolution of Japan’s Public Sector Balance Sheet (PSBS). In the past, large crossholdings of assets and liabilities within the public sector played a role in sustaining a high level of public debt and low interest rates. The Fiscal Investment and Loan Fund (FILF) channeled all postal deposits and pension savings to financing of public sector borrowing. After the FILF refrom in 2000, however, the Post Bank and pension funds shifted their assets to the portfolio investments and are seeking to maximize risk-adjusted returns. This has changed the implications of crossholdings for public debt management. In the future, population aging is expected to add more pressures on the PSBS, which already saw a considerable decrease of net worth over the last three decades.

Sir Humphrey's Legacy

Sir Humphrey's Legacy

Author: Neil Record

Publisher: Institute of Economic Affairs

ISBN: UCSC:32106018418423

Category: Civil service

Page: 129

View: 513

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Estimates that public sector pension liabilities are about GBP1trillion - but the government publishes estimates of the liabilities of only half this level. The author states that if costs are made transparent, we can start to change the nature of public sector schemes, to the benefit of workers and taxpayers alike.

The Handbook of West European Pension Politics

The Handbook of West European Pension Politics

Author: Ellen M. Immergut

Publisher: Oxford University Press

ISBN: 9780199291472

Category: Business & Economics

Page: 965

View: 346

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The Handbook of West European Pension Politics provides scholars, policy-makers and students with a complete overview of the political and policy issues involved in pension policy, and well as case studies of contemporary pension politics (1980 to present) in 16 countries: Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal, Spain, Sweden, Switzerland, and the UK. The book is suitable as a text for courses in comparative politics, European Studies, social policy, comparative public policy and public administration. Each chapter is written by an expert on pension politics and is presented in a standardized format with standardized tables and figures that describe: political institutions; government coalitions, parliamentary and electoral majorities; the party system; the pension system; proposed and enacted pension reforms.

Inventing Retirement

Inventing Retirement

Author: Leslie Hannah

Publisher: Cambridge University Press

ISBN: 9780521303613

Category: Business & Economics

Page: 215

View: 470

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This 1986 book examines why old-age saving became rooted in the employment contract.

The Impact of the 2007-08 Changes to Public Service Pensions

The Impact of the 2007-08 Changes to Public Service Pensions

Author: Great Britain: Parliament: House of Commons: Committee of Public Accounts

Publisher: The Stationery Office

ISBN: 0215559762

Category:

Page: 44

View: 400

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In 2007-08, new pension schemes were introduced for civil servants, NHS staff and teachers, designed to make public service pensions affordable. The changes are likely to reduce costs to taxpayers of the pension schemes by £67 billion over 50 years, with costs stabilising at around 1% of Gross Domestic Product (GDP) or 2% of public expenditure. The Committee is concerned that the Treasury did not test the potential impact of changes in some of the key assumptions underpinning the long-term cost projections. In addition, the Treasury has not tested whether reducing the value of pensions would affect the public sector's ability to recruit and retain high quality staff. Three-fifths of the savings to the taxpayer were expected to come from the cost sharing and capping mechanism - a transfer, from employers to employees, of extra costs that arise if pensioners live longer than previously expected. Employees would potentially pay 70% more for their pensions over the next 50 years if life expectancy continues to increase more than expected. Implementation remains on hold while the Government decides how to respond to the Independent Public Service Pensions Commission (the Hutton Commission). Public service employees do not have a clear understanding of the value of their pensions because they are not provided with clear and intelligible information to enable them to make rational decisions. Further changes to public service pensions are expected as Hutton's recommendations are implemented, but this should bring a period of stability and certainty for long-term public service pensions policy.

Pensions

Pensions

Author: Raymond Nottage

Publisher:

ISBN: STANFORD:36105035137780

Category: Great Britain - Superannuation schemes - Proposals

Page: 53

View: 216

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This study compares both the public and private pensions systems in Britain and West Germany, analyzing the role of the state in pension provison, particularly in changing economic and demographic circumstances. It concludes that the British system needs to be fundamentally altered.