Old Age Pensions in South Africa

This article briefly describes the old age pension system in South Africa, with a special focus on its strengths and the challenges it faces. The article shows that the most pertinent concerns are the level of exclusion from the contributory pension funds, the extent of reliance on the social assistance programme and the lack of institutional capacity to deliver the social assistance programme effectively. The proposed reforms are aimed at achieving a better integrated pension system where contributions are mandatory for all formal sector workers and where contributions are preserved for retirement. The underlying objectives are to limit the growing dependence on social assistance from the State, and at the same time to increase the effectiveness of the social assistance scheme for the target population.     

Changing the Financing of the Lithuanian Pensions System

After the first pension reform in Lithuania, in 1995, the reforming process must continue. Important changes are needed, based on principles of old age security financing. A three-tier system has been drafted and approved by the government as a Concept of the reform. The main change proposed as a first tier is the introduction of a national pension based on the residence principle, instead of the existing basic pension based on the insurance principle. It is expected that in this way the problem will be solved of providing protection against poverty for the increasing number of people who do not have the necessary insurance record. The second tier should be a compulsory funded system based on privately managed pension funds. Several important goals would thus be achieved: diversifying the old age security risk between pay-as-you-go and funded schemes; boosting investment opportunities and encouraging financial markets to develop; offering improved incentives for the working population to contribute; and so on. The main obstacle to the introduction of the second tier is the high transition cost. The third tier would comprise voluntary pension funds: their activities should be liberated and the severe constraints on investment return removed.     

Women and Pensions: Time for a Rethink

This paper presents the results of a research project conducted in Northern Ireland, which focused on women and pensions. The paper suggests that, in the broader rethink of pensions policy in the UK, which is now clearly needed, central consideration should be given to constructing policies which more clearly relate to the needs and circumstances of women.     

公共社会学

非常高兴来到上海大学做演讲,谢谢你们的邀请,这是我第一次来到中国、来到上海.我到中国已经11天了,感觉像已经过了一个世纪,这些天发生了很多事情.我在上海的这27个小时,是我一生中非常特殊的一个体验,对我来说上海真是一个令人难以置信的城市.我读过一些关于中国六、七十年代的书,但是今天我所看到的中国与我在书中读到的完全不一样.     

New Labour and Pensions Reform: Security in Retirement?

New Labour has defined the problem of security in retirement as one of undersaving and has sought to resolve it both by measures which encourage saving and by improving financial literacy. The article discusses both of these approaches, arguing that each is flawed and that, in addition, New Labour's pension policy exhibits several tensions which threaten to undermine the objective of providing a secure income in retirement.     

杰克逊走了

6月26日凌晨,一代巨星迈克尔·杰克逊(MJ)在洛杉矶离世,终年50岁. 本来满心欢喜,计划在7月份复出进行"落幕演出"的他,却以如此孤独的方式提前谢下了人生的幕布.身后留下了三个儿女、五亿元的债务和一个辉煌的年代.     

Pensions in the European Union: Adapting to Economic and Social Changes

Throughout the European Union, pension schemes are undergoing a process of adaptation to a completely different context. Some of the main stumbling blocks to this process are the great number of issues involved and the diversity of questions that these raise: demographic changes, the labour market, economic growth, social justice, the ways of regulating the established provisions and decision-making in their regard. These dimensions do not offer ready-made answers, from the standpoint of pension financing. Apart from the complexity of the situation, however, a fundamental component of European societies is definitely at stake here: the ability to guarantee a decent level of security to all citizens when they reach retirement age.     

The Rules of the Game: The Politics of National Pensions in Korea

This article explores the conditions in which policy changes occur over time. It studies the institutional pathways taken by national pensions in Korea over an extended period by identifying the key moments which have pushed through their development: initiation (1973), implementation (1988) and reform (1998). Public pensions have developed over time in an incremental fashion, bringing an ever‐growing proportion of the population under their umbrella. What accounts for this development? A number of factors may be at work. The elderly population has rapidly increased; the traditional extended family has increasingly become a nuclear one, meaning that what used simply to be a family issue of protecting the elderly has become a social matter; urbanization and industrialization have resulted in an ever‐growing number of life‐time contingencies such as unexpected income losses. Convincing as these socio‐economic accounts may seem, however, they offer only a snapshot, underscoring the politics of national pensions which stretch over long periods. This article seeks to answer how and in whose interest national pensions come on to the political agenda; how they are framed and defined; and how political actors respond to pressures for national pension reform. In each of the three stages, it is suggested, somewhat different institutional rules have operated. Defining institutional rules as ‘the process of who gets represented in the decision‐making processes’, this article identifies the different institutional rules which have played a pivotal role in the social policy‐making processes.     

Uncertainty, Trust and Pensions: The Case of the Current UK Reforms

Trust is valuable in facilitating social cooperation and is often thought to be helpful in the running of a complex modern welfare state. However, a number of sociologists, psychologists and political scientists have recently argued that trust in social institutions is in decline. One approach argues that the issue is compounded by a shift towards a more active and discriminating trust as part of a social transition towards a more reflexive society, and goes on to suggest that people often choose to place their active trust in non‐state provision. This paper examines recent quantitative and qualitative evidence on trust in state and non‐state pensions in the UK, as a context where current policy developments throw the general issues into sharp relief. It shows that patterns of trust in this setting can be understood in active terms, but that social divisions remain important in determining how active trust operates in practice. More vulnerable groups put their trust in the state, through lack of an alternative, while more confident and better‐off groups tend to pursue investment strategies which they believe will give them more individual control over their money. Social divisions remain important during current social transitions, and often receive less attention than they merit in theoretical writing.     

Social Security Pensions in the Maghreb: A Study of Morocco and Tunisia

Long-term pension schemes in Morocco and Tunisia, taking all elements together, are very much in decline and for the moment there is no serious option available to make up for the limited scope of the contributory model of social insurance. Furthermore, efforts to coordinate and harmonize these schemes are only just getting going. Eligibility conditions are very strict and the benefits paid — to people with disabilities, to retirees or their surviving dependants — are frugal. Privatization of pensions helps only those able to take out private insurance, benefiting a tiny proportion of the target population. Tunisia, however, has provided its people with better safeguards than Morocco, a more populous country whose rulers are less inclined to be generous in this respect. Whatever the case, those in charge of social insurance in both countries have a long way to go before their rapidly ageing populations can aspire to a relatively decent quality of life.     

Pensions in Nigeria: The performance of the new system of personal accounts

In 2004, Nigeria copied the 1981 Chilean pension reform and established a funded system based upon personal accounts. The new system was neither appropriate for a country such as Nigeria, nor did it meet aspirations of improving pension coverage or helping economic growth. The current financial and economic crisis hit the scheme in so far as it hit stock values. However, more important has been the negative real interest rates that can be earned on government bonds and on bank deposits — where the majority of contributions are invested. Bank scandals and rising fiscal deficits do not breed confidence in the system or the government's ability to deliver meaningful benefits in old age.