Reforming Social Security in a Transition Economy: The Case of Lithuania
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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Volume (Year): 5 (2002)
Issue (Month): 1 ()
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References listed on IDEAS
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.:
- de Menil, G., 2000.
"A Comment on the Place of Funded Pensions in Transition Economies,"
DELTA Working Papers
2000-04, DELTA (Ecole normale supérieure).
- Georges de Menil, 2000. "A Comment on the Place of Funded Pensions in Transition Economies," International Tax and Public Finance, Springer, vol. 7(4), pages 431-444, August.
- Hans Fehr & Laurence J. Kotlikoff, 1995.
"Generational Accounting in General Equilibrium,"
NBER Working Papers
5090, National Bureau of Economic Research, Inc.
- Richard Hemming, 1998. "Should Public Pensions Be Funded?," IMF Working Papers 98/35, International Monetary Fund.
- Carlo Cottarelli & Luis M. Cubeddu & M. Cangiano, 1998. "Pension Developments and Reforms in Transition Economies," IMF Working Papers 98/151, International Monetary Fund.
- Martin Feldstein, 1997. "Transition to a Fully Funded Pension System: Five Economic Issues," NBER Working Papers 6149, National Bureau of Economic Research, Inc.
- Prof. Dr. Robert Holzmann, 1994. "Funded and Private Pensions for Eastern European Countries in Transition?," Public Economics 9405004, EconWPA.
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