Current issues in pension reform in the Baltics
Koivu, Tuuli (15.08.2001)
Numero
2001/8Julkaisija
Suomen PankkiBank of Finland
2001
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:bof-2014080830Tiivistelmä
AbstractA deteriorating demographic situation, rising unemployment, difficulties in taxes, and a growing informal sector have created substantial difficulties during recent years for the pay-asyou-go (PAYG) pension systems in Baltic countries.For the purpose of guaranteeing solid pension systems, all three Baltic countries are implementing "three-pillar" systems, which supporters claim will be more robust to demographic changes.Latvia leads the Baltics in pension reform, having all pillars of the system working. Nevertheless, Baltic pension reform remains a politically thorny issue.This fact may delay plans to have three-pillar systems operational in all three countries by the beginning of 2003.Keywords: Estonia, Latvia, Lithuania, Pension systems, Social security