Effects of population ageing on the pension system in Belarus

Statistics
Reads: 1208
Downloads: 8
Summary 

Belarus currently has a relatively generous pay-as-you-go pension system, but population aging coupled with recent problems with economic growth will soon make it unsustainable. We build a rich OLG model of Belarusian economy, which shows that without reform the Pension Fund will run into persistent and growing deficit, which will reach 9 per cent of GDP by 2055. We also compute the fiscal projections of several parametric pension reforms. To avoid a deficit without reform, pension benefits would have to be substantially reduced. The increase of retirement age to 65 for both genders has a strong positive effect on sustainability of the pension system and keeps the deficit below 2 per cent of GDP.

Authors
Barnukova Katsiaryna
Lisiankova Katsiaryna
Sector 
Year 
2016
Download full text 
AttachmentSize
Download 692.59 KB
Last updated 23.11.2016
Found an error? Select error with your mouse and press Ctrl + Enter
You are reporting a typo in the following text:
Simply click the "Send typo report" button to complete the report. You can also include a comment.