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Report Examines Treatment Of State Pension Obligations In Ratings Process For EU Sovereigns May 06 Product Image

Report Examines Treatment Of State Pension Obligations In Ratings Process For EU Sovereigns May 06

  • Published: May 2006
  • Standard & Poors

FEATURED COMPANIES

  • Estonia (Republic of)
  • Hungary
  • Latvia (Republic of)
  • Lithuania (Republic of)
  • Poland (Republic of)
  • Slovak Republic
  • MORE

Abstract
LONDON (Standard & Poor's) May 9, 2006--A switch to funded defined-contribution state pension schemes implies a lower long-term build-up of sovereign pension liabilities compared with unfunded defined-benefit systems, although the accrued improvements are not represented in the general government accounts, Standard & Poor's Ratings Services said in a criteria report published today. The report examines how Standard & Poor's sovereign analysis factors the two different approaches into its assessment of fiscal flexibility in the context of EU member states. A number of Central and East European sovereigns have in recent years implemented far-reaching pension reforms, supplementing the old Pay-As-You-Go (PAYGO) scheme with a defined-contribution funded scheme. Contributors below a certain age pay less to the PAYGO scheme, with the difference...

Companies mentioned in this report are:
- Hungary
- Slovak Republic
- Poland (Republic of)
- Latvia (Republic of)
- Lithuania (Republic of)
- Estonia (Republic of)

Action: General Comment

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, READ MORE >

- Hungary
- Slovak Republic
- Poland (Republic of)
- Latvia (Republic of)
- Lithuania (Republic of)
- Estonia (Republic of)

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