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PSMT Retreat
PSMT Retreat

... New York, 3 February 2015 Anne Drouin, Social Protection Department International Labour Organization ...
Panama_en.pdf
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... the GDP slowdown. This evolution was uneven: the sharpest credit contractions were seen in the sectors of fisheries (down 49.9%), mining and quarrying (29.0%), financial institutions and insurance (22.3%), manufacturing (17.5%) and commerce (8.8%) sectors. The construction and mortgage sectors poste ...


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... a person earning an income equal to the poverty line. This number is 36%. 3) Based on these estimated numbers, calculate the total budget or the poverty line: AMD 19,373 or $43 --The non-food part of this budget is just AMD 6,906 or $15 per month. ...
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... turned the Brazilian Social Security into an useful tool to combat poverty among the elderly. In 2009, about 90% of the population over 65 received a Social Security benefit and poverty levels were below 1% for this group (vs ~8% among children 15 or younger). The flipside of this system is that it ...
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... the recent downturn, both in headline and in cyclically adjusted terms (Figures 1 and 2). The momentum of fiscal consolidation weakened in the late 1990s as rising tax receipts and overoptimistic growth projections led to tax cutting and new spending initiatives. In the United States, Canada and in ...
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Pensions crisis

The pensions crisis is a predicted difficulty in paying for corporate, state, and federal pensions in the United States and Europe, due to a difference between pension obligations and the resources set aside to fund them. Shifting demographics are causing a lower ratio of workers per retiree; contributing factors include retirees living longer (increasing the relative number of retirees), and lower birth rates (decreasing the relative number of workers, especially relative to the Post-WW2 Baby Boom). There is significant debate regarding the magnitude and importance of the problem, as well as the solutions.For example, as of 2008, the estimates for the underfunding of U.S. states' pension programs range from $1 trillion using the discount rate of 8% to $3.23 trillion using U.S. Treasury bond yields as the discount rate. The present value of unfunded obligations under Social Security as of August 2010 was approximately $5.4 trillion. In other words, this amount would have to be set aside today such that the principal and interest would cover the program's shortfall between tax revenues and payouts over the next 75 years.Some economists question the concept of funding, and, therefore underfunding. Storing funds by governments, in the form of fiat currencies, is the functional equivalent of storing a collection of their own IOUs. They will be equally inflationary to newly written ones when they do come to be used.Reform ideas are in three primary categories: a) Addressing the worker-retiree ratio, via raising the retirement age, employment policy and immigration policy; b) Reducing obligations via shifting from defined benefit to defined contribution pension types and reducing future payment amounts (by, for example, adjusting the formula that determines the level of benefits); and c) Increasing resources to fund pensions via increasing contribution rates and raising taxes.
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