John F. Cogan and Olivia S. Mitchell
- Published in print:
- 2007
- Published Online:
- January 2008
- ISBN:
- 9780199226801
- eISBN:
- 9780191710285
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199226801.003.0009
- Subject:
- Business and Management, Pensions and Pension Management
In 2001, President George W. Bush appointed the President's Commission to Strengthen Social Security, composed of sixteen members from both major political parties. Members were tasked with providing ...
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In 2001, President George W. Bush appointed the President's Commission to Strengthen Social Security, composed of sixteen members from both major political parties. Members were tasked with providing the president with recommendations on how to modernize the Social Security system, restore its fiscal soundness, and develop a workable system of personal retirement accounts as part of a newly structured program. This chapter presents perspectives on Social Security reform, drawn from service on the President's Commission. It begins with a discussion of the use of personal retirement accounts as a method of prefunding the Social Security system. The Commission to Strengthen Social Security developed three reform scenarios that incorporate personal retirement accounts as a central element in a modernized system of old-age security. The chapter focuses on one reform plan in particular — one that promises an enhanced and more reliable safety net while also providing workers the opportunity to invest in personal accounts with diversified investment choice and potentially lower risk. It is argued that reforms of this sort can help put Social Security on a self-financing basis for the first time in over a quarter of a century.Less
In 2001, President George W. Bush appointed the President's Commission to Strengthen Social Security, composed of sixteen members from both major political parties. Members were tasked with providing the president with recommendations on how to modernize the Social Security system, restore its fiscal soundness, and develop a workable system of personal retirement accounts as part of a newly structured program. This chapter presents perspectives on Social Security reform, drawn from service on the President's Commission. It begins with a discussion of the use of personal retirement accounts as a method of prefunding the Social Security system. The Commission to Strengthen Social Security developed three reform scenarios that incorporate personal retirement accounts as a central element in a modernized system of old-age security. The chapter focuses on one reform plan in particular — one that promises an enhanced and more reliable safety net while also providing workers the opportunity to invest in personal accounts with diversified investment choice and potentially lower risk. It is argued that reforms of this sort can help put Social Security on a self-financing basis for the first time in over a quarter of a century.
Estelle James, Alejandra Cox Edwards, and Rebeca Wong
- Published in print:
- 2007
- Published Online:
- January 2008
- ISBN:
- 9780199226801
- eISBN:
- 9780191710285
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199226801.003.0005
- Subject:
- Business and Management, Pensions and Pension Management
Over the past two decades many countries have adopted multipillar pension systems that include both a public DB and a private DC pillar. Critics of these pension reforms argue that the tight link ...
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Over the past two decades many countries have adopted multipillar pension systems that include both a public DB and a private DC pillar. Critics of these pension reforms argue that the tight link between payroll contributions and benefits in the DC pillar produce lower pensions for women. In contrast, supporters of these reforms argue that multipillar systems remove distortions that favour men and permit a more targeted public pillar that help women. This chapter examines the differential impact on genders of the new and old systems in Chile, Argentina, and Mexico. In all three cases, the new social security system includes two mandatory components: privately managed funded individual accounts (DC) and a publicly managed and financed safety net. Women accumulate retirement funds and private annuities from the DC pillar of the multipillar systems that are only 30-40% of those of men. This effect can be mitigated by introducing two critical elements into the new systems: (a) targeting the new public pillars toward low earners, because the majority of low earners are women, and (b) restricting payout provisions such as joint annuity requirements. With these modifications, total lifetime retirement benefits for women would reach 60-80% of those for men. For ‘full-career’ married women, they would equal or exceed benefits of men.Less
Over the past two decades many countries have adopted multipillar pension systems that include both a public DB and a private DC pillar. Critics of these pension reforms argue that the tight link between payroll contributions and benefits in the DC pillar produce lower pensions for women. In contrast, supporters of these reforms argue that multipillar systems remove distortions that favour men and permit a more targeted public pillar that help women. This chapter examines the differential impact on genders of the new and old systems in Chile, Argentina, and Mexico. In all three cases, the new social security system includes two mandatory components: privately managed funded individual accounts (DC) and a publicly managed and financed safety net. Women accumulate retirement funds and private annuities from the DC pillar of the multipillar systems that are only 30-40% of those of men. This effect can be mitigated by introducing two critical elements into the new systems: (a) targeting the new public pillars toward low earners, because the majority of low earners are women, and (b) restricting payout provisions such as joint annuity requirements. With these modifications, total lifetime retirement benefits for women would reach 60-80% of those for men. For ‘full-career’ married women, they would equal or exceed benefits of men.
Milko Matijascic and Stephen J. Kay
- Published in print:
- 2007
- Published Online:
- January 2008
- ISBN:
- 9780199226801
- eISBN:
- 9780191710285
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199226801.003.0012
- Subject:
- Business and Management, Pensions and Pension Management
This chapter describes Brazil's social security system and the highly contentious reform process. While much of the rest of the South American region moved toward individual accounts, Brazil engaged ...
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This chapter describes Brazil's social security system and the highly contentious reform process. While much of the rest of the South American region moved toward individual accounts, Brazil engaged in parametric reforms. Recently, the country introduced the fator previdenci ário, a system akin to a notional DC system, whereby contributions and benefits are strictly linked but contributions do not go into individual-funded savings accounts. Although a few political leaders have favoured private accounts, individual accounts never received much political support, and the transition costs are considered potentially prohibitive, reaching as high as 201% of GDP. Structural reform is complicated by the fact that the social security system is codified in the 1988 constitution, which means that any structural reform needs to go through the laborious and politically costly constitutional amendment process. It is argued that administrative and legislative reforms that would make the system more efficient and equitable are possible even when support for constitutional reform is lacking.Less
This chapter describes Brazil's social security system and the highly contentious reform process. While much of the rest of the South American region moved toward individual accounts, Brazil engaged in parametric reforms. Recently, the country introduced the fator previdenci ário, a system akin to a notional DC system, whereby contributions and benefits are strictly linked but contributions do not go into individual-funded savings accounts. Although a few political leaders have favoured private accounts, individual accounts never received much political support, and the transition costs are considered potentially prohibitive, reaching as high as 201% of GDP. Structural reform is complicated by the fact that the social security system is codified in the 1988 constitution, which means that any structural reform needs to go through the laborious and politically costly constitutional amendment process. It is argued that administrative and legislative reforms that would make the system more efficient and equitable are possible even when support for constitutional reform is lacking.
Martin Rhodes
- Published in print:
- 2001
- Published Online:
- November 2003
- ISBN:
- 9780198297567
- eISBN:
- 9780191600104
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198297564.003.0007
- Subject:
- Political Science, Comparative Politics
This is the third of three chapters on the role of economic interests, and of systems for representing those interests, in the politics of welfare state reform; they explore the linkages between ...
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This is the third of three chapters on the role of economic interests, and of systems for representing those interests, in the politics of welfare state reform; they explore the linkages between national welfare states and national economies, and examine the processes through which economic actors press their interests on policy makers. Here Rhodes explores the implications for welfare states of nationally negotiated social pacts in bridging and making innovative linkages between social security systems and employment rules and wage bargaining. The essential argument of Sect. 1 is that the emergence of social pacts is linked to common domestic and external pressures for welfare state reform in the European Union, and that contrary to the expectations of many commentators, these pressures are neither ‘disorganizing’ European capitalism nor neutralizing the power of the state; furthermore, rather than fragmenting political‐economic structures, pressures for reform have in many instances modified or even bolstered efforts at coordination via bargaining. Section 2 introduces the notion of ‘competitive corporatism’, and shows that underpinning these social pacts are varying degrees of associational cohesion, and two types of coalition — seeking distributional deals and productivity gains — which have complex linkages and overlaps. In ideal typical terms, it can be suggested that competitive corporatism is successfully achieved if underpinned by a close but flexible interlocking of these two types of coalition, although in practice it is not always possible, as has been demonstrated in various continental European countries.Less
This is the third of three chapters on the role of economic interests, and of systems for representing those interests, in the politics of welfare state reform; they explore the linkages between national welfare states and national economies, and examine the processes through which economic actors press their interests on policy makers. Here Rhodes explores the implications for welfare states of nationally negotiated social pacts in bridging and making innovative linkages between social security systems and employment rules and wage bargaining. The essential argument of Sect. 1 is that the emergence of social pacts is linked to common domestic and external pressures for welfare state reform in the European Union, and that contrary to the expectations of many commentators, these pressures are neither ‘disorganizing’ European capitalism nor neutralizing the power of the state; furthermore, rather than fragmenting political‐economic structures, pressures for reform have in many instances modified or even bolstered efforts at coordination via bargaining. Section 2 introduces the notion of ‘competitive corporatism’, and shows that underpinning these social pacts are varying degrees of associational cohesion, and two types of coalition — seeking distributional deals and productivity gains — which have complex linkages and overlaps. In ideal typical terms, it can be suggested that competitive corporatism is successfully achieved if underpinned by a close but flexible interlocking of these two types of coalition, although in practice it is not always possible, as has been demonstrated in various continental European countries.
Maurizio Ferrera, Anton Hemerijck, and Martin Rhodes
- Published in print:
- 2003
- Published Online:
- November 2003
- ISBN:
- 9780199250158
- eISBN:
- 9780191599439
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199250154.003.0020
- Subject:
- Political Science, European Union
The chapter presents, in synthesis form, some key elements of what is now understood about welfare regimes, their respective pathologies of development, their current paths of reform, and the ...
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The chapter presents, in synthesis form, some key elements of what is now understood about welfare regimes, their respective pathologies of development, their current paths of reform, and the challenges that still confront them. The first section examines welfare state performance thematically, focusing on employment, the scale and shape of social security systems, and distributive outcomes. The second section takes Europe’s four welfare regimes (those of Scandinavia, the United Kingdom, continental Europe and Southern Europe) and analyses their respective strengths and vulnerabilities. The conclusion considers where the literature on welfare states is likely to go in the future.Less
The chapter presents, in synthesis form, some key elements of what is now understood about welfare regimes, their respective pathologies of development, their current paths of reform, and the challenges that still confront them. The first section examines welfare state performance thematically, focusing on employment, the scale and shape of social security systems, and distributive outcomes. The second section takes Europe’s four welfare regimes (those of Scandinavia, the United Kingdom, continental Europe and Southern Europe) and analyses their respective strengths and vulnerabilities. The conclusion considers where the literature on welfare states is likely to go in the future.
Robert L. Brown
- Published in print:
- 2007
- Published Online:
- January 2008
- ISBN:
- 9780199226801
- eISBN:
- 9780191710285
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199226801.003.0010
- Subject:
- Business and Management, Pensions and Pension Management
This chapter discusses Social Security reform in Canada in 1996-7. It argues that the C/QPP reforms of 1997 gave merely tweaks to the system as opposed to massive change, with most of the amendments ...
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This chapter discusses Social Security reform in Canada in 1996-7. It argues that the C/QPP reforms of 1997 gave merely tweaks to the system as opposed to massive change, with most of the amendments subtle and not fully understood by the average Canadian citizen. These reforms were made without apparent opposition, which is somewhat surprising given that contribution rates were raised from 6 to 9.9% over a short 6-year period. The failure of the Seniors Benefit in 1996 was political, not actuarial. The government failed to understand how popular the OAS was and how emotional the response would be to proposed reforms given the very small- and long-deferred savings that were projected to result. The Canadian social security system today provides Canadians with a high level of income security while leaving ample room for individual savings and investments. The reforms of 1997 have meant that the CPP now rests on a healthy foundation. The latest CPP actuarial report shows that this system is sustainable for at least the next seventy-five years.Less
This chapter discusses Social Security reform in Canada in 1996-7. It argues that the C/QPP reforms of 1997 gave merely tweaks to the system as opposed to massive change, with most of the amendments subtle and not fully understood by the average Canadian citizen. These reforms were made without apparent opposition, which is somewhat surprising given that contribution rates were raised from 6 to 9.9% over a short 6-year period. The failure of the Seniors Benefit in 1996 was political, not actuarial. The government failed to understand how popular the OAS was and how emotional the response would be to proposed reforms given the very small- and long-deferred savings that were projected to result. The Canadian social security system today provides Canadians with a high level of income security while leaving ample room for individual savings and investments. The reforms of 1997 have meant that the CPP now rests on a healthy foundation. The latest CPP actuarial report shows that this system is sustainable for at least the next seventy-five years.
Kenneth H. Craik
- Published in print:
- 2008
- Published Online:
- January 2009
- ISBN:
- 9780195330922
- eISBN:
- 9780199868292
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195330922.003.0007
- Subject:
- Psychology, Social Psychology
Chapter 7 explores the mutual relevance of reputation and personality, two important constructs that appear to address the same question: What kind of person is this individual? A primary claim of ...
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Chapter 7 explores the mutual relevance of reputation and personality, two important constructs that appear to address the same question: What kind of person is this individual? A primary claim of the network interpretation is that the reputation of a person resides within the social system. At the same time, constructs such as the self-concept, social selves, and tactics of reputation management can be formulated as reputation-relevant elements of the personality system. At the theoretical level, this chapter demonstrates that a generic model of reputational concepts can be accommodated within a variety of contemporary personality theories. This argument is illustrated by a review of the socioanalytic personality theory and the five-factor personality theory.Less
Chapter 7 explores the mutual relevance of reputation and personality, two important constructs that appear to address the same question: What kind of person is this individual? A primary claim of the network interpretation is that the reputation of a person resides within the social system. At the same time, constructs such as the self-concept, social selves, and tactics of reputation management can be formulated as reputation-relevant elements of the personality system. At the theoretical level, this chapter demonstrates that a generic model of reputational concepts can be accommodated within a variety of contemporary personality theories. This argument is illustrated by a review of the socioanalytic personality theory and the five-factor personality theory.
Tom Burns and G. M. Stalker
- Published in print:
- 1994
- Published Online:
- October 2011
- ISBN:
- 9780198288787
- eISBN:
- 9780191684630
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198288787.001.0001
- Subject:
- Business and Management, Innovation, Organization Studies
First published in 1961, this book is a very influential book on organization theory and industrial sociology. The central theme of the book is the relationship between an organization and its ...
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First published in 1961, this book is a very influential book on organization theory and industrial sociology. The central theme of the book is the relationship between an organization and its environment — particularly technological and market innovations. Based on first-class scholarship, the book presents the now famous and ubiquitous classifications of ‘mechanistic’ and ‘organic’ systems. For this it has become justly famous, but the book is also a penetrating study of social systems within organizations and organizational dynamics.Less
First published in 1961, this book is a very influential book on organization theory and industrial sociology. The central theme of the book is the relationship between an organization and its environment — particularly technological and market innovations. Based on first-class scholarship, the book presents the now famous and ubiquitous classifications of ‘mechanistic’ and ‘organic’ systems. For this it has become justly famous, but the book is also a penetrating study of social systems within organizations and organizational dynamics.
Mark Thomas and Paul Johnson
- Published in print:
- 2006
- Published Online:
- January 2012
- ISBN:
- 9780197263471
- eISBN:
- 9780191734786
- Item type:
- chapter
- Publisher:
- British Academy
- DOI:
- 10.5871/bacad/9780197263471.003.0018
- Subject:
- Economics and Finance, Economic History
This chapter focuses on one fundamental aspects of an ageing population — how to pay for old age, individually and collectively. It also presents a study of the history of old age support in the UK ...
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This chapter focuses on one fundamental aspects of an ageing population — how to pay for old age, individually and collectively. It also presents a study of the history of old age support in the UK and US and concludes that despite the quite different beginnings of the public pension and social security systems, government policy in both countries has become similarly locked in to a set of institutional arrangements which were devised to respond to immediate social and economic problems, but which have acquired a rationale and a dynamic of their own.Less
This chapter focuses on one fundamental aspects of an ageing population — how to pay for old age, individually and collectively. It also presents a study of the history of old age support in the UK and US and concludes that despite the quite different beginnings of the public pension and social security systems, government policy in both countries has become similarly locked in to a set of institutional arrangements which were devised to respond to immediate social and economic problems, but which have acquired a rationale and a dynamic of their own.
William H. Starbuck
- Published in print:
- 2006
- Published Online:
- October 2011
- ISBN:
- 9780199288533
- eISBN:
- 9780191700521
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199288533.003.0001
- Subject:
- Business and Management, Organization Studies, Knowledge Management
As some questions cannot be answered by traditional theories alone, this book asserts that there are research tactics do not help humans in understanding themselves and their environments. As a ...
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As some questions cannot be answered by traditional theories alone, this book asserts that there are research tactics do not help humans in understanding themselves and their environments. As a consequence social scientists have found a need to come up with alternative research methods. Such reforms attempt to point out inappropriate statistical technique, faults in the assumption that social systems and people are stable and nonreactive, and that research should consider environmental circumstance and not just logic and human physiology alone. Researchers must be able to set higher standards for the credibility of their findings so that social science research can better account for features in society and bring greater respect to the researchers. This chapter introduces the structure of the book and shows an autobiographical approach in an attempt to explain views through research experiences.Less
As some questions cannot be answered by traditional theories alone, this book asserts that there are research tactics do not help humans in understanding themselves and their environments. As a consequence social scientists have found a need to come up with alternative research methods. Such reforms attempt to point out inappropriate statistical technique, faults in the assumption that social systems and people are stable and nonreactive, and that research should consider environmental circumstance and not just logic and human physiology alone. Researchers must be able to set higher standards for the credibility of their findings so that social science research can better account for features in society and bring greater respect to the researchers. This chapter introduces the structure of the book and shows an autobiographical approach in an attempt to explain views through research experiences.
