The Turkish Pension System: Further Reforms to Help Solve the Informality Problem
Recent social security reform has significantly improved the long-run sustainability of the pension system. However, the pension system continues to serve as an important barrier to a more rapid expansion of the formal-sector economy in two ways. First, early-retirement incentives (including severan...
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2006
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| Schriftenreihe: | OECD Social, Employment and Migration Working Papers
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| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | Recent social security reform has significantly improved the long-run sustainability of the pension system. However, the pension system continues to serve as an important barrier to a more rapid expansion of the formal-sector economy in two ways. First, early-retirement incentives (including severance payments) continue to push many incumbent formal sector workers into the informal sector, often at ages as young as 40-45. While new labour force entrants face a much higher retirement age, policies for incumbents are fiscally expensive, inequitable, and serve to swell the ranks of the informal sector. Second, even when the transition to the new pension rules is complete, net replacement rates will remain very high by OECD standards, requiring high social security contribution rates that make it too expensive for firms to employ low-skilled labour in the formal sector. Thus, further pension reform is one of the keys to overcoming Turkey's economic duality. Finally, since the pension system does not cover the informal sector, it does little to alleviate poverty among the wider population of older people. This paper discusses a number of reforms that would increase the retirement age, reduce inter-generational inequities, and permit a significant cut in the tax wedge on labour, while better addressing old-age poverty concerns at all levels of income |
| Beschreibung: | 1 Online-Ressource (30 Seiten) 21 x 29.7cm |
| DOI: | 10.1787/348880554402 |
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| spelling | Brook, Anne-Marie Verfasser aut The Turkish Pension System Further Reforms to Help Solve the Informality Problem Anne-Marie Brook and Edward Whitehouse = Le système des retraites en Turquie : Les réformes supplémentaires pour aider à résoudre le problème de l'informalité / Anne-Marie Brook et Edward Whitehouse Le système des retraites en Turquie Paris OECD Publishing 2006 1 Online-Ressource (30 Seiten) 21 x 29.7cm txt rdacontent c rdamedia cr rdacarrier OECD Social, Employment and Migration Working Papers Recent social security reform has significantly improved the long-run sustainability of the pension system. However, the pension system continues to serve as an important barrier to a more rapid expansion of the formal-sector economy in two ways. First, early-retirement incentives (including severance payments) continue to push many incumbent formal sector workers into the informal sector, often at ages as young as 40-45. While new labour force entrants face a much higher retirement age, policies for incumbents are fiscally expensive, inequitable, and serve to swell the ranks of the informal sector. Second, even when the transition to the new pension rules is complete, net replacement rates will remain very high by OECD standards, requiring high social security contribution rates that make it too expensive for firms to employ low-skilled labour in the formal sector. Thus, further pension reform is one of the keys to overcoming Turkey's economic duality. Finally, since the pension system does not cover the informal sector, it does little to alleviate poverty among the wider population of older people. This paper discusses a number of reforms that would increase the retirement age, reduce inter-generational inequities, and permit a significant cut in the tax wedge on labour, while better addressing old-age poverty concerns at all levels of income Social Issues/Migration/Health Turkey Whitehouse, Edward ctb https://doi.org/10.1787/348880554402 Verlag kostenfrei Volltext |
| spellingShingle | Brook, Anne-Marie The Turkish Pension System Further Reforms to Help Solve the Informality Problem Social Issues/Migration/Health Turkey |
| title | The Turkish Pension System Further Reforms to Help Solve the Informality Problem |
| title_alt | Le système des retraites en Turquie |
| title_auth | The Turkish Pension System Further Reforms to Help Solve the Informality Problem |
| title_exact_search | The Turkish Pension System Further Reforms to Help Solve the Informality Problem |
| title_exact_search_txtP | The Turkish Pension System Further Reforms to Help Solve the Informality Problem |
| title_full | The Turkish Pension System Further Reforms to Help Solve the Informality Problem Anne-Marie Brook and Edward Whitehouse = Le système des retraites en Turquie : Les réformes supplémentaires pour aider à résoudre le problème de l'informalité / Anne-Marie Brook et Edward Whitehouse |
| title_fullStr | The Turkish Pension System Further Reforms to Help Solve the Informality Problem Anne-Marie Brook and Edward Whitehouse = Le système des retraites en Turquie : Les réformes supplémentaires pour aider à résoudre le problème de l'informalité / Anne-Marie Brook et Edward Whitehouse |
| title_full_unstemmed | The Turkish Pension System Further Reforms to Help Solve the Informality Problem Anne-Marie Brook and Edward Whitehouse = Le système des retraites en Turquie : Les réformes supplémentaires pour aider à résoudre le problème de l'informalité / Anne-Marie Brook et Edward Whitehouse |
| title_short | The Turkish Pension System |
| title_sort | the turkish pension system further reforms to help solve the informality problem |
| title_sub | Further Reforms to Help Solve the Informality Problem |
| topic | Social Issues/Migration/Health Turkey |
| topic_facet | Social Issues/Migration/Health Turkey |
| url | https://doi.org/10.1787/348880554402 |
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