Mongolia Policy Options for Pension Reform
This report was prepared in response to a request by the Mongolian authorities for an evaluation of the Mongolian pension system and policy reform options. The report identifies a number of design weaknesses in the current pension insurance scheme...
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| Language: | English en_US |
| Published: |
Washington, DC
2014
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| Online Access: | http://documents.worldbank.org/curated/en/2011/01/16662950/mongolia-policy-options-pension-reform http://hdl.handle.net/10986/19460 |
| Summary: | This report was prepared in response to
a request by the Mongolian authorities for an evaluation of
the Mongolian pension system and policy reform options. The
report identifies a number of design weaknesses in the
current pension insurance scheme and needs for reform in
response to changes in the Mongolian economy. The summary of
this report provides a brief synopsis for key policymakers
of the rationale for reform and policy options considered.
The main text responds to requests by the Mongolian
authorities for the Bank's assessment. It considers the
design architecture and parameters of the pension insurance
scheme, the design of non- contributory elderly social
assistance, pension provisions for herders and the rationale
and design options for a pension reserve fund. The
appendices provide more detailed analysis for technical
staff including current pension insurance parameters; needs
and policy options for herders and other informal sector
workers; options for establishing a pension reserve fund;
and elaboration of the actuarial modeling methodology
employed, key assumptions and parameters, and detailed
findings. Mongolia's economy, labor market and fiscal
position are undergoing rapid changes as a result of growth
in the mining sector. These changes present both challenges
and opportunities for reform in pension provisions. |
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