Pensions management in Eastern Europe: its lessons for China's pension reform

Article Abstract:

Reforms in the management of social security systems, implemented in 11 eastern European nations, have resulted in substantial achievements for these countries during the 1990s. These reforms include the raising of the retirement age by three to five years, the introduction of an indexation adjustment mechanism and the tightening of the terms of pension benefit payments. However, China would be wise to consider a selective approach in adapting these policies as cultural and social differences do exist.

China, Pension Fund Management, Management, Europe, Pension funds, Financial management

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Balancing power between employer and trustees - the implications of the UK Pensions Act

Article Abstract:

The UK's Pensions Act of 1995 requires that every pension scheme must have at least one-third of its trustees appointed by members. This new provision adds to the formality of trustee duties, presents a formal internal disputes procedure and imposes a new regime of fines and penalties. It also allows the employer to act as as a delegate of the trustee and ensures compliance with the minimum funding requirement by establishing a schedule of contributions.

United Kingdom, Pensions

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Social security: benefits face a financial challenge

Article Abstract:

The social security benefits are facing financial challenges as they are financed on a pay-as-you-go basis, the number of retirees is increasing, and the workforce is decreasing. The government-appointed Pension Benefit Commission has recommends in its preliminary Report published in September 2002, that the earnings-related element should be funded and people should be encouraged to work longer.

United States, Personnel administration, Interpretation and construction, Compensation and benefits

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