The Gender Impact of Pension Reform
Title | The Gender Impact of Pension Reform PDF eBook |
Author | Estelle James |
Publisher | World Bank Publications |
Total Pages | 81 |
Release | 2003 |
Genre | Pensions |
ISBN |
Pension systems may have a different impact on gender because women are less likely than men to work in formal labor markets and earn lower wages when they do. Recent multipillar pension reforms tighten the link between payroll contributions and benefits, leading critics to argue that they will hurt women. In contrast, supporters of these reforms argue that it will help women by the removal of distortions that favored men and the better targeted redistributions in the new systems. To test these conflicting claims and to analyze more generally the gender effect of alternative pension systems, James, Edwards, and Wong examine the differential impact of the new and old systems in three Latin American countries--Argentina, Chile, and Mexico. Based on household survey data, they simulate the wage and employment histories of representative men and women, the pensions they are likely to generate under the new and old rules, and the relative gains or losses of men and women because of the reform. The authors find that women do accumulate private annuities that are only 30-40 percent those of men in the new systems. But this effect is mitigated by sharp targeting of the new public pillars toward low earners, many of whom are women, and by restrictions on payouts from the private pillars, particularly joint annuity requirements. As a result of these transfers, total lifetime retirement benefits for women reach 60-80 percent those of men, and for "full career" women they equal or exceed benefits of men. Also as a result, women are the biggest gainers from the pension reform. For women who receive these transfers, female/male ratios of lifetime benefits in the new systems exceed those in the old systems in all three countries. Private intra-household transfers from husband to wife in the form of joint annuities play the largest role. This paper is a product of the Gender Division, Poverty Reduction and Economic Management Network.
The Gender Impact of Pension Reform
Title | The Gender Impact of Pension Reform PDF eBook |
Author | Estelle James |
Publisher | |
Total Pages | 78 |
Release | 2016 |
Genre | |
ISBN |
Pension systems may have a different impact on gender because women are less likely than men to work in formal labor markets and earn lower wages when they do. Recent multipillar pension reforms tighten the link between payroll contributions and benefits, leading critics to argue that they will hurt women. In contrast, supporters of these reforms argue that it will help women by the removal of distortions that favored men and the better targeted redistributions in the new systems.To test these conflicting claims and to analyze more generally the gender effect of alternative pension systems, James, Edwards, and Wong examine the differential impact of the new and old systems in three Latin American countries-Argentina, Chile, and Mexico. Based on household survey data, they simulate the wage and employment histories of representative men and women, the pensions they are likely to generate under the new and old rules, and the relative gains or losses of men and women because of the reform.The authors find that women do accumulate private annuities that are only 30-40 percent those of men in the new systems. But this effect is mitigated by sharp targeting of the new public pillars toward low earners, many of whom are women, and by restrictions on payouts from the private pillars, particularly joint annuity requirements. As a result of these transfers, total lifetime retirement benefits for women reach 60-80 percent those of men, and for quot;full careerquot; women they equal or exceed benefits of men. Also as a result, women are the biggest gainers from the pension reform. For women who receive these transfers, female/male ratios of lifetime benefits in the new systems exceed those in the old systems in all three countries. Private intra-household transfers from husband to wife in the form of joint annuities play the largest role.This paper is a product of the Gender Division, Poverty Reduction and Economic Management Network.
The Gender Impact of Pension Reform
Title | The Gender Impact of Pension Reform PDF eBook |
Author | Estelle James |
Publisher | |
Total Pages | 0 |
Release | 2004 |
Genre | |
ISBN |
Pension systems may have a different impact on the two genders because women are less likely than men to work in formal labor markets and earn lower wages when they do. Recent multi-pillar pension reforms tighten the link between payroll contributions and benefits, leading critics to argue that they will hurt women. In contrast, supporters of these reforms argue that women will be helped by the removal of distortions that favored men and the better targeted redistributions in the new systems. In order to test these conflicting claims and to analyze more generally the gender impact of alternative pension systems, this paper examines the differential impact of the new and old systems in three Latin American countries - Chile, Argentina and Mexico. Based on household survey data, we simulate the wage and employment histories of representative men and women, the pensions that these are likely to generate under the new and old rules, and the relative gains or losses of the two genders due to the reform. We find that women do indeed accumulate private annuities that are only 30-40% those of men in the new systems. However, this effect is mitigated by sharp targeting of the new public pillars toward low earners, many of whom are women, and by restrictions on payouts from the private pillars, particularly joint annuity requirements. As a result of these transfers, total lifetime retirement benefits for women reach 60-80% of those for men and for "full career" married women they equal or exceed benefits of men. Also as a result, women are the biggest gainers from the pension reform. For women who receive these transfers, female/male ratios of lifetime benefits in the new systems exceed those in the old systems in all three countries. Private intra-household transfers from husband to wife in the form of joint annuities play the largest role. Women who work no longer have to give up their own annuity to get this widows' benefit, as they did in some old systems.
Gender Impact of Pension Reform
Title | Gender Impact of Pension Reform PDF eBook |
Author | Estelle James |
Publisher | |
Total Pages | |
Release | 2012 |
Genre | Electronic book |
ISBN |
The Gender Impact of Pension Reform
Title | The Gender Impact of Pension Reform PDF eBook |
Author | |
Publisher | |
Total Pages | 63 |
Release | 2005 |
Genre | |
ISBN |
Gender Dimensions of Pension Reform in the Former Soviet Union
Title | Gender Dimensions of Pension Reform in the Former Soviet Union PDF eBook |
Author | Paulette Castel |
Publisher | World Bank Publications |
Total Pages | 40 |
Release | 2001 |
Genre | Pensiones de jubilacion - Union Sovietica |
ISBN |
The authors analyze the gender implications of pension reform in Kazakhstan, the Kygyz Republic, Latvia, and Moldova. The new systems deliberately penalize early retirement and reward longer careers, so that with no change in behavior or policy, women's pensions will be lower than men's on average. Still, the implicit financial returns for women remain higher on average than returns for men, because of women's longer life expectancy and because of redistributory minimum pensions. Overall, however, the net change in wealth resulting from the reforms will be larger on average for men than for women, because they will work longer and get a larger pension. Women's longer life expectancy means that women can expect to spend the last years of their lives alone. If their pensions are too low because of their work histories, poverty among elderly women may increase.
Gender and Social Security Reform
Title | Gender and Social Security Reform PDF eBook |
Author | Neil Gilbert |
Publisher | Routledge |
Total Pages | 362 |
Release | 2017-07-05 |
Genre | Political Science |
ISBN | 1351518100 |
Aging populations are creating tremendous pressures on social security systems throughout the world, lifting the need for reform to the top of policy agendas. Proposed reforms often have different implications for men and women. At the same time, traditional family and gender roles are changing with the decline in fertility rates and the rapid rise in women's participation in the paid labor force.While trying to adapt social security systems to the fiscal demands of aging societies, policymakers face the compelling challenge of how to design pension reforms that achieve fair outcomes for women. Gender and Social Security Reform examines how different countries are attempting to meet this challenge. Drawing on comparative studies of European and Latin American countries along with a series of case studies of individual countries, the book provides insights into the gender dimensions of alternative designs for reform. All of the countries studied have recently reformed or are about to reform their pension systems, with a clear trend towards tightening the link between contributions and benefits in order to secure the long-term sustainability of pensions. The book also alerts policymakers to other issues: Should pension systems be gender-neutral or compensate for inequalities in paid and unpaid labor? Does compensation preserve gender discrimination? Are unisex life tables a reliable or fair redistributive tool for women? Or should annuities be linked directly to life expectancy, differentiated by sex and potentially other factors? Does a minimum pension guarantee risk compromising the principle of individual responsibility and work? How can recognition for caring work be balanced with work incentives? What can be done to help social security systems preserve freedom of choice in terms of work-family balance for women, men or the modem family unit as a whole?In analyzing the gender implications of recent social security policies and practices