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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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Austerity measures include pension changes
Italy | Legislation date: 2011 | Benefits | Old age, Disability, Survivors
 

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.

 
Voluntary defined contribution pension plans overhauled
Japan | Legislation date: 2011 | Implementation date: 2012
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.

 
Pension fund limit on investment abroad raised
Peru | Legislation date: 2011 | Financing | Old age, Disability, Survivors
 
On July 13, Peru's Congress raised the pension fund limit on investment abroad from 30 per cent to 50 per cent of assets.
 
More flexibility and greater transparency for the second-pillar of the individual accounts
Estonia | Implementation date: 2011 | Financing, Administration | Old age, Disability, Survivors
 

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.

 
Social insurance program extended to private-sector workers
Ethiopia | Implementation date: 2011 | Benefits, Financing, Administration | Old age, Disability, Survivors
 

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.