| Description |
1 online resource (23 pages) |
| Series |
IMF Working Papers |
|
IMF Working Papers; Working Paper ; no. 18/155
|
| Contents |
Cover; Contents; I. Introduction; II. Pension Schemes in Fiji and other small states; A. Fiji's Pension Scheme; B. Cyclone Winston Assistance Withdrawals; C. Pension Funds in Other Pacific Island Countries; III. Pension Withdrawals Assistance under Natural Disaster Shocks; A. Basic Pension-Saving Model; B. Analysis on Pension Withdrawals Assistance; C. Caveats on the Model Analysis; IV. Conclusions; Tables; 1. Key Indicators in the FNPF; 2. The FNPF's Qualified Life Events for Early Pension Withdrawal; 3. Pension Funds in Selected PICs; Figures; 1. Household saving decisions in the model |
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2. Household saving decisions in the modelAppendices; I. Full Model Description; Appendix Tables; A1. Parameter values used in the stimulation |
| Summary |
Pacific island countries are exposed to significant risks from natural disasters. As a disaster relief measure, Fiji allowed pre-retirement pension withdrawls in the wake of Cyclone Winston in 2016. Motivated by this policy action, we provide a normative analysis of the use of early pension withdrawals after disasters, by setting up a life-cycle saving model with myopic households facing large natural disaster shocks. The model demonstrates the key trade-off between building up sufficient retirement savings and ensuring the access to savings against natural disaster shocks, and sheds light on welfare implications of early pension withdrawals |
| Notes |
Print version record |
| Subject |
Disaster relief -- Oceania -- Finance
|
|
Pensions.
|
|
Consumption.
|
|
Social Security And Public Pensions.
|
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Fiji.
|
| Form |
Electronic book
|
| Author |
Narita, Futoshi
|
| ISBN |
148436791X |
|
9781484367919 |
|
1484366832 |
|
9781484366837 |
|
