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The Old Age Pension System in a Tax Haven: The Case of the Bahamas

Author

Listed:
  • Jarosław Poteraj

    (Institute of Business Administration, Łomża, Poland)

Abstract

The article presents an insight into the old age pension system in The Bahamas. There are four topic paragraphs: 1. the general information about country, 2. the evolution of its pension system, 3. the present situation, and 4. challenges and foreseen changes. There, the author’s goal was to present both past and present solutions employed by The Bahamas’ pension system, in search for ideas worth consideration in international comparisons. In the summary, the author highlights as a particular Bahamian approach, on the background of other countries, the typical for a tax haven attitude that the providing for the old age should be left to the prudence of each individual. The reader will learn that in the perspective of a few decades, the Bahamian pension system is endangered with insolvency. The actuarial considerations in the country seek solution to the problem in rising the compulsory rate of social insurance contribution.

Suggested Citation

  • Jarosław Poteraj, 2012. "The Old Age Pension System in a Tax Haven: The Case of the Bahamas," Annals of the University of Petrosani, Economics, University of Petrosani, Romania, vol. 12(1), pages 255-265.
    • Handle: RePEc:pet:annals:v:12:y:2012:i:1:p:255-265
    as

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    File URL: http://upet.ro/annals/economics/pdf/2012/part1/Poteraj.pdf
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    References listed on IDEAS

    as
    1. Paddison, Oliver, 2006. "Social security in the english-speaking Caribbean," Documentos de Proyectos 3678, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    2. Paddison, Oliver, 2006. "Social security in the english-speaking Caribbean," Financiamiento para el Desarrollo 5152, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    3. Jaros?aw Poteraj, 2011. "Pension System in Argentina," Review of Economics & Finance, Better Advances Press, Canada, vol. 1, pages 81-95, November.
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    More about this item

    Keywords

    old age pension system; Bahamas; retirement; pension reforms;
    All these keywords.

    JEL classification:

    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • J32 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Nonwage Labor Costs and Benefits; Retirement Plans; Private Pensions

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