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Pension Reforms and Taxation in Estonia

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Author Info

  • Ringa Raudla

    ()
    (Department of Public Administration, University of Tartu)

  • Karsten Staehr

    ()
    (EuroFaculty, University of Tartu)

Abstract

Estonia completed its pension system reforms in 2002. The new 3-pillar system features a first pillar of universal state pension, a second pillar of funded supplementary pension and a third pillar of independent pension savings. The paper reviews the new pension system and the early experience. It also brings up a number of unsettled issues, in part stemming from the interplay between the pension and taxation systems. Albeit the new pension scheme has been successfully implemented, it is excessively complex and non-transparent. Certain groups could experience inadequate pension coverage. The public finances are in the short term adversely affected by lower payroll and income tax revenue. Any longer-term effects on economic performance are very uncertain and likely to stem primarily from changes in the labour supply.

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Bibliographic Info

Article provided by Baltic International Centre for Economic Policy Studies in its journal Baltic Journal of Economics.

Volume (Year): 4 (2003)
Issue (Month): 1 (December)
Pages: 64-92

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Handle: RePEc:bic:journl:v:4:y:2003:i:1:p:64-92

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Related research

Keywords: Pension reform; payroll taxes; savings; incentive effects;

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Cited by:
  1. Tiiu Paas & Marit Hinnosaar & Jaan Masso & Orsolya Szirko, 2004. "Social Protection Systems In The Baltic States," University of Tartu - Faculty of Economics and Business Administration Working Paper Series 26, Faculty of Economics and Business Administration, University of Tartu (Estonia).
  2. Karsten Staehr, 2008. "Estimates of employment and welfare effects of personal labour income taxation in a flat-tax country : The case of Estonia," Bank of Estonia Working Papers 2008-03, Bank of Estonia, revised 30 Oct 2008.
  3. Fedotenkov, I., 2012. "Pensions and ageing in a globalizing world. International spillover effects via trade and factor mobility," Open Access publications from Tilburg University urn:nbn:nl:ui:12-5590843, Tilburg University.

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