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Reforming Social Security in a Transition Economy: The Case of Lithuania

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  • Svend E. Hougaard Jensen
  • Jukka Lassila
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    Abstract

    This paper points out a number of problems associated with the existing pension system in Lithuania. Reforms are proposed, including (i) a substantial increase in the basic pension benefit rate, financed on a pay-as-you-go basis, provided universally, and regulated according to wage/price indexation; (ii) a significant cut in the tax contribution rate to the public pension system matched by a rise in the VAT; (iii) a rise in the retirement age to 65 for both men and women; and (iv) a gradual conversion to a private, funded, mandatory pension system to replace the earnings-related part of the current pension system.

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    File URL: http://www.tandfonline.com/doi/abs/10.1080/13841280212382
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    Bibliographic Info

    Article provided by Taylor & Francis Journals in its journal Journal of Economic Policy Reform.

    Volume (Year): 5 (2002)
    Issue (Month): 1 ()
    Pages: 17-36

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    Handle: RePEc:taf:jpolrf:v:5:y:2002:i:1:p:17-36

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    Related research

    Keywords: Pension Reform; Transition Economies; Dynamic Cge Models;

    References

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    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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    1. Prof. Dr. Robert Holzmann, 1994. "Funded and Private Pensions for Eastern European Countries in Transition?," Public Economics 9405004, EconWPA.
    2. Hans Fehr & Laurence J. Kotlikoff, 1995. "Generational Accounting in General Equilibrium," NBER Working Papers 5090, National Bureau of Economic Research, Inc.
    3. de Menil, G., 2000. "A Comment on the Place of Funded Pensions in Transition Economies," DELTA Working Papers 2000-04, DELTA (Ecole normale supérieure).
    4. Carlo Cottarelli & Luis M. Cubeddu & M. Cangiano, 1998. "Pension Developments and Reforms in Transition Economies," IMF Working Papers 98/151, International Monetary Fund.
    5. Martin Feldstein, 1997. "Transition to a Fully Funded Pension System: Five Economic Issues," NBER Working Papers 6149, National Bureau of Economic Research, Inc.
    6. Richard Hemming, 1998. "Should Public Pensions Be Funded?," IMF Working Papers 98/35, International Monetary Fund.
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