Strengthening Caribbean Pensions : Improving Equity and Sustainability

This report aims to provide additional insights to existing analyses of public pension and social security schemes in the Caribbean. Such analyses have been undertaken with the support of the Inter-American Development Bank, the Caribbean Developme...

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Bibliographic Details
Main Author:	World Bank
Format:	Other Social Protection Study
Language:	English
Published:	World Bank 2012
Subjects:	ACCRUAL RATE ACCRUAL RATES ADVERSE EFFECTS AGE SUPPORT ASSET PRICES ASSET VALUES AVERAGE BENEFIT AVERAGE WAGE GROWTH BASIC PENSION BASIC PENSIONS BENEFICIARIES BENEFIT ADJUSTMENTS BENEFIT INDEXATION BENEFIT LEVEL BENEFIT LEVELS BENEFIT PAYMENTS CENTRAL BANK CIVIL SERVICE PENSION CODES OF CONDUCT COMMODITY COMMODITY EXPORTS CONSUMPTION SMOOTHING CONTINGENT LIABILITY CONTRIBUTION PERIOD CONTRIBUTION PERIODS CONTRIBUTION RATE CONTRIBUTION RATES CONVERSIONS CORRUPTION CREDIBILITY CURRENCY DEBT BURDEN DEBT BURDENS DEBT LEVELS DEFICITS DEFINED BENEFITS DEFINED-BENEFIT SCHEME DEFINED-BENEFIT SCHEMES DEMOGRAPHIC DEMOGRAPHIC CHANGE DEPENDENCY RATIOS DEVELOPMENT BANK DISABILITY PENSION DISBURSEMENTS EARNINGS REPLACEMENT ECONOMIC CRISIS ECONOMIC DOWNTURN ECONOMIC VOLATILITY ELDERLY EMPLOYEE FERTILITY FERTILITY RATES FINANCIAL ASSETS FINANCIAL CRISIS FINANCIAL DISTRESS FINANCIAL MARKET FINANCIAL MARKET DEVELOPMENT FINANCIAL MARKETS FINANCIAL MARKETS DEVELOPMENT FINANCIAL PERFORMANCE FINANCIAL SECTOR FINANCIAL SUSTAINABILITY FINANCIAL WEAKNESSES FORMAL PENSION FORMAL PENSION SYSTEM FULL-CAREER WORKER FULL-CAREER WORKERS GLOBAL ECONOMIC PROSPECTS GLOBALIZATION GOOD GOVERNANCE GOVERNANCE MECHANISMS GOVERNANCE STANDARDS GOVERNMENT EXPENDITURE GOVERNMENT PENSION GROWTH RATE GROWTH RATES GUARANTEED BENEFIT HARMONIZATION HUMAN DEVELOPMENT IMPLICIT PENSION DEBT INCOME GROUPS INCOME LEVELS INCOME SMOOTHING INDIVIDUAL ACCOUNT INDIVIDUAL ACCOUNTS INDIVIDUAL RETIREMENT ACCOUNTS INFLATION INFORMAL ECONOMY INFORMATION DISCLOSURE INFORMATION SHARING INSTITUTIONAL CAPACITY INSURANCE INTEREST RATES INTERNATIONAL DEVELOPMENT INTERNATIONAL STANDARDS INVESTMENT MANAGEMENT INVESTMENT PERFORMANCE INVESTMENT POLICIES INVESTMENT RISK INVESTMENT RISKS INVESTMENT STRATEGY LABOR FORCE LABOR MARKET LABOR MARKETS LEVEL OF RISK LIFE EXPECTANCY LIQUIDATION LIQUIDITY LOAN MACROECONOMIC ENVIRONMENT MANDATORY RETIREMENT MANDATORY SCHEMES MARKET DISTORTIONS MARKET ECONOMY MARKET EFFICIENCY MATURITY MINIMUM BENEFIT MINIMUM INCOME MONETARY FUND MULTI-PILLAR SYSTEM NORMAL RETIREMENT AGE OCCUPATIONAL SCHEMES OLD-AGE INCOME OUTPUT PAYROLL TAX PENSION PENSION AGE PENSION ARRANGEMENTS PENSION BENEFIT PENSION BENEFITS PENSION CONTRIBUTIONS PENSION DEBT PENSION ENTITLEMENT PENSION ENTITLEMENTS PENSION EXPENDITURES PENSION FUND PENSION FUND MANAGERS PENSION FUNDS PENSION INVESTMENTS PENSION LIABILITIES PENSION POLICY PENSION PROGRAMS PENSION PROVISION PENSION PROVISIONS PENSION REFORM PENSION RESERVES PENSION RIGHTS PENSION SCHEME PENSION SCHEMES PENSION SYSTEM PENSION SYSTEMS PENSION WEALTH PENSIONABLE AGE PENSIONABLE EARNINGS PENSIONER PENSIONERS PENSIONS POLICY RESPONSES POVERTY ALLEVIATION PRICE GROWTH PRIVATE PENSION PRIVATE PENSION FUNDS PROVIDENT FUNDS PRUDENTIAL REGULATION PUBLIC DEBT PUBLIC PENSION PUBLIC PENSIONS PUBLIC SCHEMES PUBLIC SPENDING RATES OF RETURN REGULATORY FRAMEWORK REGULATORY STANDARDS REGULATORY SYSTEMS REMITTANCES REPLACEMENT RATE REPLACEMENT RATES RESERVE RETIREE RETIREES RETIREMENT RETIREMENT AGE RETIREMENT AGES RETIREMENT BENEFITS RETIREMENT INCOME RETIREMENT PENSION RETIREMENT SYSTEMS RETURNS REVENUE SHORTFALLS RISK DIVERSIFICATION RISK MANAGEMENT SAVINGS SAVINGS ACCOUNTS SECURITY AGREEMENT SECURITY AGREEMENTS SINGLE MARKET SOCIAL ASSISTANCE SOCIAL PENSION SOCIAL PENSIONS SOCIAL PROTECTION SOCIAL PROTECTION STRATEGIES SOCIAL SECURITY SOCIAL SECURITY BENEFIT SOCIAL SECURITY BENEFITS SOCIAL SECURITY REFORMS SOCIAL SECURITY SYSTEM STOCKS TAX SYSTEM TRANSPARENCY VOLATILITY WAGE GROWTH WAGE TAXES WORKER CONTRIBUTIONS WORLD DEVELOPMENT INDICATORS
Online Access:	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000333038_20100504022002 http://hdl.handle.net/10986/2847

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Summary:	This report aims to provide additional insights to existing analyses of public pension and social security schemes in the Caribbean. Such analyses have been undertaken with the support of the Inter-American Development Bank, the Caribbean Development Bank, the Canadian International Development Agency, the Economic Commission for Latin America, and the Caribbean and the International Social Security Association. By making cross-country comparisons within the region and across the world, this report will review fiscal vulnerability, sustainability, labor market efficiency, migration, financial market development, and other pension-related areas. Finally, governance and investment management should be strengthened by: (i) strengthening the governance structure, including authority and accountability of Board members; (ii) improving governance mechanisms with the assistance of external oversight and improved information disclosure; (iii) introducing codes of conduct for the governing body and management; and (iv) introducing a number of measures to strengthen the investment policies, investment strategy, asset allocation, and performance evaluation.

Strengthening Caribbean Pensions : Improving Equity and Sustainability

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