Mongolia : Pension Policy Challenges and Reform Options

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collection.link.214
https://openknowledge.worldbank.org/handle/10986/11872
collection.name.214
Policy Notes
dc.contributor.author
World Bank
dc.date.accessioned
2013-03-12T20:54:44Z
dc.date.available
2013-03-12T20:54:44Z
dc.date.issued
2008-04-21
dc.date.lastModified
2021-04-23T14:03:05Z
dc.description.abstract
Mongolia inherited a pay-as-you go public pension system providing universal coverage and high levels of benefits (relative to pre-retirement income), consistent with the state provision of all forms of social insurance. The system was reformed in 1995, including the introduction of contributions for pensions and other social insurance, but it remained dependent upon Government transfers. The reforms improved the existing scheme but failed to achieve financial sustainability or address a number of weaknesses in the existing scheme's design, which created weak incentives for contributing to the system and benefit inequities between different groups of workers/cohorts. This policy note responds to this request, and it is part of an ongoing broader collaboration with the Government and the Asian Development Bank (ADB) on pension reform that includes: (i) supporting the development of the policy framework for pension reform; (ii) improving the pension policy making capacity; and (iii) assisting in the identification of the institutional development needs to support the new pension system. This note identifies a number of challenges in the design and implementation of the current social insurance system that would need to be addressed to strengthen the system's ability to provide consumption smoothing and old-age income security for Mongolia's population.
en
dc.identifier
http://documents.worldbank.org/curated/en/2008/04/16465286/mongolia-pension-policy-challenges-reform-options
dc.identifier.uri
http://hdl.handle.net/10986/12677
dc.language
English
dc.language.iso
en_US
dc.publisher
Washington, DC
dc.rights
CC BY 3.0 IGO
dc.rights.holder
World Bank
dc.rights.uri
http://creativecommons.org/licenses/by/3.0/igo/
dc.subject
ACCOUNTABILITY
dc.subject
ACCOUNTING
dc.subject
ACCRUAL RATE
dc.subject
ACCRUAL RATES
dc.subject
ACCRUALS
dc.subject
ADB
dc.subject
ADMINISTRATIVE COSTS
dc.subject
ALIMONY
dc.subject
BANKRUPTCY
dc.subject
BENEFICIARY
dc.subject
BENEFIT ADJUSTMENTS
dc.subject
BENEFIT FORMULA
dc.subject
BENEFIT INDEXATION
dc.subject
BENEFIT LEVEL
dc.subject
BENEFIT LEVELS
dc.subject
BINDING CONSTRAINT
dc.subject
BREADWINNER
dc.subject
CAPITAL MARKETS
dc.subject
CASH TRANSFERS
dc.subject
COMPENSATION
dc.subject
CONSUMER PRICE INDEX
dc.subject
CONSUMPTION SMOOTHING
dc.subject
CONTRACTUAL SAVINGS
dc.subject
CONTRIBUTION DATA
dc.subject
CONTRIBUTION RATE
dc.subject
CONTRIBUTION RATES
dc.subject
COST OF LIVING
dc.subject
COST REDUCTION
dc.subject
CREDIBILITY
dc.subject
DEFICITS
dc.subject
DEFINED BENEFIT
dc.subject
DEFINED BENEFIT SCHEME
dc.subject
DEFINED-BENEFIT SCHEME
dc.subject
DEFINED-BENEFIT SCHEMES
dc.subject
DEMOGRAPHIC
dc.subject
DEPENDENCY RATIO
dc.subject
DEPENDENCY RATIOS
dc.subject
DEVELOPMENT BANK
dc.subject
DISABILITY
dc.subject
DISABILITY PENSION
dc.subject
DISABILITY PENSIONS
dc.subject
DISBURSEMENT
dc.subject
DISBURSEMENTS
dc.subject
DISPUTE RESOLUTION
dc.subject
ECONOMIC LIBERALIZATION
dc.subject
ECONOMIC VOLATILITY
dc.subject
ELDERLY
dc.subject
EMPLOYEE
dc.subject
EMPLOYMENT
dc.subject
ENABLING ENVIRONMENT
dc.subject
EQUIPMENT
dc.subject
EXPENDITURE
dc.subject
FEMALE
dc.subject
FEMALES
dc.subject
FERTILITY
dc.subject
FERTILITY RATES
dc.subject
FINANCES
dc.subject
FINANCIAL MANAGEMENT
dc.subject
FINANCIAL SUSTAINABILITY
dc.subject
FISCAL BURDEN
dc.subject
FORMAL PENSION
dc.subject
FUNDED ACCOUNTS
dc.subject
GENDER
dc.subject
GENDER DIFFERENCES
dc.subject
GOVERNMENT BUDGET
dc.subject
GOVERNMENT EXPENDITURES
dc.subject
GOVERNMENT REVENUES
dc.subject
GOVERNMENT SUBSIDY
dc.subject
GROSS WAGE
dc.subject
HOLDINGS
dc.subject
HOME
dc.subject
HOUSEHOLD INCOME
dc.subject
HOUSING
dc.subject
HUMAN DEVELOPMENT
dc.subject
INCOME GROUPS
dc.subject
INCOME GROWTH
dc.subject
INCOME SECURITY
dc.subject
INCOME TAX
dc.subject
INCOME TAXES
dc.subject
INCOMES
dc.subject
INDIVIDUAL ACCOUNT
dc.subject
INFLATION
dc.subject
INFLATION RATE
dc.subject
INFORMAL SECTOR
dc.subject
INFORMATION DISCLOSURE
dc.subject
INFORMATION SYSTEMS
dc.subject
INSTITUTIONAL CAPACITY
dc.subject
INSTITUTIONAL DEVELOPMENT
dc.subject
INSTRUMENT
dc.subject
INSURANCE PENSIONS
dc.subject
INSURANCE POLICY
dc.subject
INSURANCE REFORMS
dc.subject
INTEREST RATE
dc.subject
INVESTMENT CLIMATE
dc.subject
INVESTMENT MANAGEMENT
dc.subject
INVESTMENT MANAGERS
dc.subject
INVESTMENT POLICY
dc.subject
INVESTMENT STRATEGY
dc.subject
JOB CREATION
dc.subject
LABOR FORCE
dc.subject
LABOR MARKET
dc.subject
LEGAL FRAMEWORK
dc.subject
LEGAL PROVISIONS
dc.subject
LEGISLATION
dc.subject
LIFE EXPECTANCY
dc.subject
LIVING STANDARD
dc.subject
LONGEVITY RISKS
dc.subject
MANAGEMENT REVIEW
dc.subject
MANDATORY SCHEME
dc.subject
MARKET TRENDS
dc.subject
MINIMUM BENEFIT
dc.subject
MORTALITY
dc.subject
NATIONAL DEVELOPMENT
dc.subject
NOMINAL WAGE
dc.subject
NORMAL RETIREMENT AGE
dc.subject
NOTIONAL ACCOUNT
dc.subject
NOTIONAL ACCOUNTS
dc.subject
OLD-AGE INCOME
dc.subject
OLD-AGE PENSION
dc.subject
OLD-AGE PENSIONS
dc.subject
OPERATING COSTS
dc.subject
PENSION
dc.subject
PENSION AGE
dc.subject
PENSION AT RETIREMENT
dc.subject
PENSION BENEFICIARIES
dc.subject
PENSION BENEFIT
dc.subject
PENSION BENEFITS
dc.subject
PENSION CONTRIBUTIONS
dc.subject
PENSION EXPENDITURES
dc.subject
PENSION INCOME
dc.subject
PENSION INSURANCE
dc.subject
PENSION LIABILITY
dc.subject
PENSION POLICY
dc.subject
PENSION PROVISION
dc.subject
PENSION PROVISIONS
dc.subject
PENSION REFORM
dc.subject
PENSION SAVINGS
dc.subject
PENSION SCHEME
dc.subject
PENSION SCHEMES
dc.subject
PENSION SYSTEM
dc.subject
PENSION SYSTEMS
dc.subject
PENSIONERS
dc.subject
PENSIONS
dc.subject
PERSONAL INCOME
dc.subject
PERSONAL INCOME TAXES
dc.subject
PRESENT VALUE
dc.subject
PRICE INDEXATION
dc.subject
PRIVATE PENSION
dc.subject
PRODUCTIVITY
dc.subject
PUBLIC ENTERPRISES
dc.subject
PUBLIC EXPENDITURES
dc.subject
PUBLIC PENSION
dc.subject
PUBLIC PENSIONS
dc.subject
RATE OF GROWTH
dc.subject
RATE OF RETURN
dc.subject
RATES OF RETURN
dc.subject
REFORM PROGRAM
dc.subject
REPLACEMENT RATE
dc.subject
REPLACEMENT RATES
dc.subject
RESERVE
dc.subject
RESERVE FUND
dc.subject
RESERVES
dc.subject
RETIREE
dc.subject
RETIREES
dc.subject
RETIREMENT
dc.subject
RETIREMENT AGE
dc.subject
RETIREMENT AGES
dc.subject
RETIREMENT BENEFIT
dc.subject
RETIREMENT BENEFITS
dc.subject
RETIREMENT INCOME
dc.subject
RETIREMENT PENSION
dc.subject
RETURNS
dc.subject
REVENUE SOURCES
dc.subject
SECURITIES
dc.subject
SOCIAL ASSISTANCE
dc.subject
SOCIAL INSURANCE
dc.subject
SOCIAL INSURANCE BENEFIT
dc.subject
SOCIAL INSURANCE BENEFITS
dc.subject
SOCIAL INSURANCE CONTRIBUTION
dc.subject
SOCIAL INSURANCE CONTRIBUTIONS
dc.subject
SOCIAL INSURANCE FUND
dc.subject
SOCIAL INSURANCE SYSTEM
dc.subject
SOCIAL PENSION
dc.subject
SOCIAL PENSIONS
dc.subject
SOCIAL PROTECTION
dc.subject
SOCIAL SECURITY
dc.subject
SOCIAL SECURITY BENEFITS
dc.subject
SOCIAL SECURITY SYSTEM
dc.subject
SOCIAL SECURITY SYSTEMS
dc.subject
SOCIAL WELFARE
dc.subject
TAX
dc.subject
TAX ADVANTAGE
dc.subject
TAX TREATMENT
dc.subject
TAXATION
dc.subject
TECHNICAL ASSISTANCE
dc.subject
TREASURY
dc.subject
TREASURY SECURITIES
dc.subject
UNFUNDED PENSION
dc.subject
VALUATION
dc.subject
VOLUNTARY PENSION
dc.subject
VOLUNTARY PENSIONS
dc.subject
WAGE GROWTH
dc.subject
WAGES
dc.subject
WIDOW
dc.subject
WIDOWER
dc.subject
WILL
dc.subject
WITHDRAWAL
dc.subject
WOMAN
dc.title
Mongolia : Pension Policy Challenges and Reform Options
en
okr.crosscuttingsolutionarea
Gender
okr.date.disclosure
2012-07-04
okr.doctype
Economic & Sector Work :: Policy Note
okr.doctype
Economic & Sector Work
okr.docurl
http://documents.worldbank.org/curated/en/2008/04/16465286/mongolia-pension-policy-challenges-reform-options
okr.globalpractice
Social Protection and Labor
okr.globalpractice
Finance and Markets
okr.globalpractice
Governance
okr.globalpractice
Trade and Competitiveness
okr.googlescholar.linkpresent
yes
okr.identifier.externaldocumentum
000386194_20120704020144
okr.identifier.internaldocumentum
16465286
okr.identifier.report
70430
okr.language.supported
en
okr.pdfurl
http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2012/07/04/000386194_20120704020144/Rendered/PDF/704300ESW0P1070orm0Options0P107688.pdf
en
okr.region.administrative
East Asia and Pacific
okr.region.country
Mongolia
okr.sector
Non-compulsory pensions and insurance
okr.sector
Finance
okr.theme
Social protection and risk management :: Social risk mitigation
okr.topic
Pensions and Retirement Systems
okr.topic
Gender :: Gender and Law
okr.topic
Finance and Financial Sector Development :: Debt Markets
okr.topic
Banks and Banking Reform
okr.topic
Private Sector Development :: Emerging Markets
okr.topic
Social Protections and Labor
okr.unit
Social Protection Unit (EASHS)
okr.volume
1 of 1

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