Can the Eastern Caribbean Currency Union afford to grow old? /
The demographic transition in the Eastern Caribbean Currency Union (ECCU) now underway is rapid compared with international experience, and emigration is playing a particularly large role. This paper describes and quantifies several factors which could magnify the challenge of pension reform. First,...
| Main Authors: | , |
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| Corporate Author: | |
| Format: | Book |
| Language: | English |
| Published: |
[Washington, D.C.] :
International Monetary Fund,
©2009
Washington, D.C. : 2009 |
| Series: | IMF Working Papers ;
Working Paper No. 09/38 IMF eLibrary IMF working paper ; WP/09/38 |
| Subjects: |
| Summary: | The demographic transition in the Eastern Caribbean Currency Union (ECCU) now underway is rapid compared with international experience, and emigration is playing a particularly large role. This paper describes and quantifies several factors which could magnify the challenge of pension reform. First, for some ECCU countries, continued emigration at historical rates would considerably advance the projected date at which pension scheme assets are depleted. Second, there is a significant risk that assets will underperform, given the large exposures to the highly-leveraged public sector and to a le The demographic transition in the Eastern Caribbean Currency Union (ECCU) now underway is rapid compared with international experience, and emigration is playing a particularly large role. This paper describes and quantifies several factors which could magnify the challenge of pension reform. First, for some ECCU countries, continued emigration at historical rates would considerably advance the projected date at which pension scheme assets are depleted. Second, there is a significant risk that assets will underperform, given the large exposures to the highly-leveraged public sector and to a lesser extent the record with private sector investments. Third, portfolio diversification away from the public sector could be complicated by age-related pressure for greater central government health spending |
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| Item Description: | At head of title: Western Hemisphere Department "March 2009." |
| Physical Description: | 1 online resource (1 electronic resource (13 pages)) : color illustrations 1 online resource (15 pages) |
| Bibliography: | Includes bibliographical references (pages 12-13) |
| ISBN: | 1282842609 1451871864 1451871864: 1452775303 1462385044 6612842601 9781282842601 9781451871869 9781452775302 9781462385041 9786612842603 |
| ISSN: | 1018-5941 |
| Access: | Restricted for use by site license |