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Social Security Reforms
Descriptions of the major social security reforms in social protection schemes worldwide since 1995, including information on existing and planned changes to social security systems. Social security reforms are compiled by the ISSA Social Security Observatory.
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On September 14, the Italian parliament approved pension changes as part of a EUR 54 billion (USD 73 billion) austerity plan designed to restore investor confidence in the country's creditworthiness.
Major reform | Old age, Disability, Survivors
Japan's legislature passed the Pension Security Enhancement Act in August. The new law, which becomes effective January 1, 2012, represents the most significant change to the country's voluntary defined contribution (DC) pension plans since their introduction in 2001.
On July 13, Peru's Congress raised the pension fund limit on investment abroad from 30 per cent to 50 per cent of assets.
On August 1, new regulations went into effect for Estonia's second-pillar of mandatory individual accounts that increase workers' flexibility to switch pension funds, impose stricter investment limits for conservative funds (the least risky of the three categories of pension funds), and promote greater program transparency.
On July 8, new legislation went into effect that extends coverage to private-sector workers under Ethiopia's pay-as-you-go, earnings-related social insurance program.
