World Bank2013-02-272013-02-272011-05https://hdl.handle.net/10986/12564This note attempts to describe the pension system in Belarus including its fiscal performance, redistributive aspects benefit levels and benefit eligibility conditions. The note also discusses the challenging demographic environment which Belarus pension system is expected to face in the future and explores alternative paths that the system could take in this environment. Some reform scenarios are explored including the increase in retirement ages, changes in benefit indexation rules and the introduction of notional defined contribution accounts.en-USCC BY 3.0 IGOANNUITYAVERAGE BENEFITAVERAGE WAGEBASIC PENSIONBENEFICIARIESBENEFICIARYBENEFIT FORMULABENEFIT INDEXATIONBENEFIT LEVELSCOMPENSATIONCONTRIBUTION RATECONTRIBUTION RATESDEMOGRAPHICDEPENDENCY RATIODISABILITYDISCOUNT RATESDRIVERSEARLY RETIREMENTEARLY RETIREMENT PROGRAMEARLY RETIREMENT PROGRAMSEARNINGELDERLYEMPLOYEEEMPLOYMENTEMPLOYMENT LAWEMPLOYMENT OPPORTUNITIESEUEXPENDITUREFEMALEFEMALESFERTILITYFERTILITY RATEFERTILITY RATESFINANCESFINANCIAL CRISISFISCAL DEFICITSFUNDED PENSIONFUTURE INCOMEGENDERSGOVERNMENT INVOLVEMENTGROWTH RATEHIGH WAGEINCOME REDISTRIBUTIONINCOME STREAMINCOME TAXINCOMESINDIVIDUAL ACCOUNTSINEQUALITYINFLATIONINSTITUTIONAL ENVIRONMENTSINTEREST RATEINTEREST RATESJOBSLABOR FORCELABOR FORCE PARTICIPATIONLABOR MARKETLABOR MARKETSLIFE EXPECTANCIESLIFE EXPECTANCYLIVING STANDARDSMACROECONOMIC ENVIRONMENTMACROECONOMIC VOLATILITYMINIMUM WAGEMORTALITYNOMINAL WAGENOTIONAL ACCOUNTNOTIONAL ACCOUNT SYSTEMNOTIONAL ACCOUNTSOCCUPATIONOCCUPATIONSOLDER WORKERSPENSIONPENSION AGEPENSION BENEFITPENSION BENEFITSPENSION CONTRIBUTIONPENSION EXPENDITURESPENSION FUNDPENSION FUND MEMBERSHIPPENSION INCOMEPENSION LAWPENSION PLANPENSION POLICYPENSION REFORMPENSION RIGHTSPENSION SCHEMEPENSION SYSTEMPENSION SYSTEM PARAMETERPENSION SYSTEMSPENSIONABLE AGEPENSIONERPENSIONERSPENSIONSPREFERENTIAL TREATMENTPREVIOUS DISCUSSIONPRICE INDEXATIONPURCHASING POWERREAL WAGEREPLACEMENT RATEREPLACEMENT RATESRETIREERETIREESRETIREMENTRETIREMENT ACCOUNTSRETIREMENT AGERETIREMENT AGESRETIREMENT BENEFITSRETIREMENT INCOMERETIREMENT OPTIONRETIREMENT PERIODSRETIREMENT-INCOMESAVINGSSAVINGS ACCOUNTSAVINGS ACCOUNTSSERVANTSSOCIAL INSURANCESOCIAL INSURANCE CONTRIBUTIONSSOCIAL PROTECTIONSOCIAL SECURITYSOCIAL TRANSFERSUBSIDIZED WORKERSURVIVOR PENSIONSTRANSFER PAYMENTSUNEMPLOYEDVOLATILITYWAGE BILLWAGE GROWTHWILLWOMANWORKERWORKERSWORKING PENSIONERSWorld Bank10.1596/12564