Republic of the Philippines Review of the Social Security System : Considerations for Strengthening Sustainability and Coverage

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作者：

World Bank

来源地址：

http://hdl.handle.net/10986/24671

关键词：

REPLACEMENT RATES;  INDIVIDUAL ACCOUNTS;  RETIREMENT ACCOUNT;  LABOR INCOME;  PENSION SYSTEM PARAMETERS;  RETIREES;  NOMINAL WAGE;  RETIREMENT;  INFORMAL SECTOR;  OLD-AGE PENSION;  PENSION FUND INVESTMENTS;  SOCIAL PENSIONS;  LIFE INSURANCE;  MANDATORY RETIREMENT;  CONTRIBUTION INCREASE;  BENEFIT FORMULAS;  INFLATION RISK;  PENSION SYSTEMS;  AGING POPULATION;  LABOR FORCE;  PENSION CONTRIBUTION;  SELF- EMPLOYMENT;  WELFARE;  HEALTH;  PRICE INDEXATION;  INFLATION RISKS;  MULTI-PILLAR SYSTEM;  BENEFIT ADJUSTMENTS;  SOCIAL SECURITY BENEFITS;  LABOR FORCE PARTICIPATION;  PENSION SYSTEM;  CONTRIBUTION RATES;  PENSION SERVICE;  SOCIAL ASSISTANCE;  PRIVATE PENSION;  PENSION;  WAGE GROWTH;  RETIREMENT AGES;  LIFE EXPECTANCY;  BENEFIT SCHEMES;  BENEFIT PAYMENTS;  PENSION PROVISIONS;  PILLAR SYSTEM;  RETIREE;  SUPPLEMENTARY SCHEMES;  PERSONAL PENSION PLANS;  REPLACEMENT RATE;  RETIREMENT PLANS;  RETIREMENT PENSIONS;  PENSION AGE;  RETIREMENT ACCOUNTS;  PENSION CONTRIBUTIONS;  RETIREMENT AGE;  DEFINED-BENEFIT SCHEME;  NATIONAL PENSION;  SOCIAL INSURANCE;  PENSION PAYMENTS;  PENSION REFORM;  SOCIAL SECURITY;  SOCIAL PROTECTION;  PUBLIC SCHEMES;  DEPENDENCY RATIO;  PENSION SAVINGS;  DEPENDENCY RATIOS;  PENSION FUNDS;  MORTALITY;  PENSION INCOME;  PERSONAL PENSIONS;  ELDERLY;  AGE SUPPORT;  BENEFIT SCHEME;  DEFINED BENEFIT;  BENEFIT LEVELS;  ACCRUAL RATE;  TAX RATE;  TAX ADVANTAGES;  ANNUITIES;  PENSIONS;  CONTRIBUTION RATE;  REPLACEMENT RATE TARGET;  MINIMUM BENEFIT;  LIFE EXPECTANCIES;  SOCIAL PENSION;  PENSION PROGRAMS;  WORKER CONTRIBUTIONS;  CONTRIBUTION INCREASES;  RETIREMENT BENEFITS;  TAX RATES;  BENEFIT FORMULA;  PAYROLL TAXES;  INVESTMENT RETURNS;  BENEFIT LEVEL;  RETIREMENT INCOMES;  SOCIAL WELFARE;  INFLATION INDEXATION;  RETIREMENT SAVINGS;  FUNDED BASIS;  PAYROLL TAX;  WORKER CONTRIBUTION;  CONTRIBUTION PERIOD;  PENSION POLICY;  MUTUAL FUND;  PENSION SCHEME;  ANNUITY;  OLD AGE SUPPORT;  PERSONAL PENSION;  SOCIAL CONTRIBUTION;  PENSION BENEFIT;  PENSIONERS;  OLDER PERSONS;  PENSION DEBT;  EMPLOYEE;  PENSION BENEFITS;  RETIREMENT PROGRAMS;  PENSION SCHEMES;  SOCIAL SECURITY SYSTEM;  PENSION COVERAGE;  VOLUNTARY PENSION;  FUTURE PAYMENTS;  PENSION FUND;  DEFERRED ANNUITIES;  INSURANCE COMPANIES;  FERTILITY;  MONTHLY CONTRIBUTION;  DEFINED BENEFIT SCHEMES;  FUNDED SCHEME;  PENSION PLANS;  PENSION ARRANGEMENTS;  RETIREMENT SAVINGS ACCOUNTS;  SELF-EMPLOYMENT;  PENSION PROGRAM;  EMPLOYEES;  Report;  Rapport;  Informe; 

年份：

2016

出版地：

Washington,USA

语种：

English

摘要：

This report was prepared at the request of the Philippines Social Security System (SSS) to analyze key challenges and propose reform options to improve the sustainability and expand the coverage of old age income protection for private sector workers. A simulation employing the Pension Reform Options Simulation Toolkit (PROST) found that the SSS scheme will face outflows greater than inflows in about 20 years and depletion of its assets in about 28 years. Fortunately, its medium-term financing issues can be addressed through the gradual introduction of parametric reforms that shield workers and retirees from abrupt changes in contributions and benefits. At the same time, the Philippines faces a challenge to improve the defacto coverage of workers by Social Security, and to increase the income protection coverage of the elderly. Options suggested include SSS measures to leverage its identification system and introduce a special instrument for informal workers. Rather than introducing matching contribution subsidies to expand coverage, it was suggested to broaden the scope of beneficiaries eligible for social pensions. Beyond the scope of the SSS, additional measures were suggested including those to improve the access and efficiency of contributions and payments systems, strengthening mobile-money platforms and efforts to improve access to savings instruments, particularly for small and isolated savers. The report points out that the key means of improving coverage lies beyond the scope of social security or pensions, namely, to improve the quantity and quality of wage-based employment.