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Open Access Article
1 - Providing optimal model of Public Administration Reform in Iran (Case Study: Pension and Compensation System)
mohammadreza pourmand morteza mosa khani reza najafbigi afsaneh zamani moghadamIn this research, the researchers sought to formulate a desirable model of public administration reform in the Iranian Pension and Service Compensation System. To elaborate and develop a desirable model, the structural equation modeling technique with LISREL software wa MoreIn this research, the researchers sought to formulate a desirable model of public administration reform in the Iranian Pension and Service Compensation System. To elaborate and develop a desirable model, the structural equation modeling technique with LISREL software was used to confirm the desirable situation. By comparing the current and desirable situation with the 23 items in the final stage, the results showed that there are many differences between the existing situation and the desirable one which need to be further worked out and planned in the 23 departments of workers 'and employers' representation in the formulation process. And enacting laws, empowering employees with trust funds Meeting, developing up-to-date regulations, creating think-tanks with investors and entrepreneurs, forecasting the process and results of the financial balance to take action, preparing transparency charts, estimating the financial risks of changing unemployment rates, rates Employment and changing retirement conditions to minimize future costs, long-term planning, paying attention to maintaining and enhancing the quality of services provided to retirees, engaging key stakeholders, including government, parliamentarians, ongoing item review. Macroeconomics (such as inflation) on the amount of pensioners' wages, the proportion of c Allowance for retirement benefits regardless of gender, etc. Manuscript profile -
Open Access Article
2 - Effect of Structural Reforms of Pension System on the Economy and Capital Market of Iran Based on Overlapping Generations Model
Hamid Rezazadeh Mostafa Sargolzaei Moslem Peymany ForoushanyThe main purpose of this study is investigating effects of DB-PAYG and Full-Funded pension systems on the economy and capital market of Iran. The effects of these two pension systems have been studied in form of different fiscal policies by simulating an Overlapping Gen MoreThe main purpose of this study is investigating effects of DB-PAYG and Full-Funded pension systems on the economy and capital market of Iran. The effects of these two pension systems have been studied in form of different fiscal policies by simulating an Overlapping Generations Model. Simulated fiscal policies are compared to a situation which society has no pension system and people spend their income only on their own consumptions or savings. The results show that in the DB-PAYG pension system, reduction of capital stock and therefore the reduction of output and level of welfare are significant. Fully-Funded pension system does not reduce the level of welfare, capital stock and production, also creating an intergenerational income distribution system. so it works better than other system. Iran's current pension system is DB-PAYG, so transferring to the Full-Funded pension system, as structural reforms, have been proposed. The dynamic of changing the pension system has been estimated and the effects of these reforms on the capital market have also been studied. The results show that structural reforms, in the long run will increase the capital stock and aggregate savings, so will increase the value and depth of the capital market, increase efficiency and corporate governance of enterprises operating in the capital market. Manuscript profile -
Open Access Article
3 - Using a Multi-criteria Decision-making Mathematical Tech-nique for the Influential and Interaction Factors in Pension Fund
mohammad kashi Mohsen Rasoulian -
Open Access Article
4 - Studying and Analyzing Influential Demographic Variables on Support Ratio in Iranian Social Security Pension Fund Using System Dynamics
zahra karimian sichani mohammad hassan cheraghali ali dehghaniEvaluation and reform of pension systems are among the complex issues that due to the multiplicity of variables affecting each other and significant changes in the variables in the long term horizons, they can not be easily studied and analyzed. The purpose of this arti MoreEvaluation and reform of pension systems are among the complex issues that due to the multiplicity of variables affecting each other and significant changes in the variables in the long term horizons, they can not be easily studied and analyzed. The purpose of this article is to study and analyze demographic variables on the support ratio(Ratio of insured to pensioners ) in Iran’s Social Security Pension Fund. This shows to some extent the ratio of input to output of the fund, and based on it, the pressure on the fund can be estimated according to the amount of current insurance premiums and pension amounts. In this article, using information and statistics of mentioned fund and Iran Statistics Center in the years from 2016 to 2018, a model based on system dynamics was designed and By testing the model under certain conditions, reproducing past behavior and examining different policies, the model was validated. By 2033, the country's elderly population will double, while the working age population will grow by nearly 12 percent. These changes will affect the demographic structure, Also, according to the forecast, if the current conditions are maintained, the support ratio of the Social Security Fund will reach 2.19 by 2033. Informal (non-salaried) job participation, unemployed youth employment, women's economic participation and fertility rate are the most important influential population variables that can increase the support ratio to 3, 1/2, 1/4 0/5 units respectively ،if appropriate policies and planning are implemented. Manuscript profile -
Open Access Article
5 - Structure and rules of pension funds in Iran and EU countries in the legal system from the perspective of sociology of law
Aidin Bagheri Mohamreza Mojtahdi Hossein Malakoti Emran NaeimiPension funds in the Iranian legal system have historically always inherited many problems, the most important of which are financial problems. Lack of vision for the future and uncertain plan and unprofessional and inefficient management, lack of transparency and confl MorePension funds in the Iranian legal system have historically always inherited many problems, the most important of which are financial problems. Lack of vision for the future and uncertain plan and unprofessional and inefficient management, lack of transparency and conflict and inflation of laws, have all gone hand in hand to make pension funds a problem in Iran; These problems and the poor condition of the funds, in all aspects, have raised serious concerns about the future. Reasons such as the increase in the aging population and the decrease in the employment force have increased the sensitivity of this crisis. Implementation of early retirement laws in different periods, macroeconomic fluctuations, discrimination and disproportionate receipts, the destructive role of the government and mainly one-sided interactions with funds are other important reasons for the crisis in pension funds during the year Are recent. In Iran, the multiplicity of pension funds with various programs, systems and regulations has led to the widespread dispersion of funds in the absence of a comprehensive welfare and social security system in the country. The model used by EU countries for pension funds is both forward-looking and comprehensive. Pension fund programs also focus on employment policy, along with inclusion for all segments of society, including the employed and the unemployed. What can be considered for policymakers in Iran in organizing and modeling the system of EU pension funds is to pay attention to economic and demographic policies, along with regulating legal regulations, phasing out additional organizations and reducing costs. To continue the services of pension funds. Reforms in Iran's pension fund system require a comprehensive policy approach and a strong determination to initiate fundamental change. Manuscript profile -
Open Access Article
6 - Pricing of participation option in Iran's Social Security Organization (ISSO)'s pension fund
abbas khandan Erfan SalavatiCollective pension schemes with mandatory participation, despite their many benefits, are not commensurate with the future of work so that recently granting exit option has been considered in pension reforms. However, there are concerns about the consequences of grantin MoreCollective pension schemes with mandatory participation, despite their many benefits, are not commensurate with the future of work so that recently granting exit option has been considered in pension reforms. However, there are concerns about the consequences of granting exit option on sustainability of the plans. This study based on the main characteristics of Iran’s Social Security Organization (ISSO)’s pension fund, mathematically calculates the value of participation in this plan. It was assumed that contributors are allowed to opt out once at a given time (European option) or several times during employment (US option) and, then, the option pricing theory is used to determine the value of these options. Findings show that in both cases of European and American options, the incentive to leave generally is low at old ages and they prefer to stay and receive their entitled pension annually. In contrast, young people have less incentive to participate because they know that they are the ones who have to pay the high recovery contributions necessary to fill the deficit. However, it was shown that even young people are willing to accept a deficit (between 30 and 40 percent) because in case of participation, they would benefit from investment returns of their predecessors’ funds or other benefits of collective schemes including interpersonal and intergenerational risk sharing. The results also show that in case of American option, people have always higher participation incentive and its exit threshold is always lower than the case of European option. Manuscript profile -
Open Access Article
7 - Modeling DB-PAYG, Full Funded and Defined Contributions Pension Systems in Iran's Economy
Hamid Rezazadeh mostafa sargolzaei Moslem Peymany Foroushany Hossein Tavakolian Meysam AmiriThe present study simulates and compares three types of pension systems, DB-PAYG, Full Funded and Defined Contributions, and their impact on Iran’s macroeconomic variables. For this purpose, the General Equilibrium model of Overlapping Generations is designed base MoreThe present study simulates and compares three types of pension systems, DB-PAYG, Full Funded and Defined Contributions, and their impact on Iran’s macroeconomic variables. For this purpose, the General Equilibrium model of Overlapping Generations is designed based on the variables of the Iran economy. The results showed that the Full Funded pension system performs better than other systems in terms of capital stock, output and welfare. Also, among these three systems, the DB-PAYG system has the lowest amount of capital stock, output and welfare. Therefore, changing the current pension system of the country to a Full Funded pension system has been proposed as a reformed fiscal policy. Manuscript profile -
Open Access Article
8 - Asset allocation in pension funds by using an integrated approach of scenario planning and best-worst method (BWM)
seyed mahdi razavi mosa bozorgasl meisam amiry Mohammadhasan Ebrahimi Sarve Olya Vahid Khasehi VarnamkhastiPublic pension funds in Iran, due to several factors like elder population, accumulation of government debts, increasing the number of pensioners in comparison with the current employees, inefficient management of investments, and lack of good investment policies, will MorePublic pension funds in Iran, due to several factors like elder population, accumulation of government debts, increasing the number of pensioners in comparison with the current employees, inefficient management of investments, and lack of good investment policies, will encounter serious crises in the coming years. One of the solutions to tackle this problem is to employ scientific asset allocation models of pension funds. According to the strategic nature of these decisions, in this research, scenario planning was employed to identify the possible scenarios pension funds encountering with. In order to identifying the most important and relevant uncertainties and scenarios, a combination of Fuzzy Delphi Method, Wilson Matrix, and Morphological analysis were used. Findings depicted five scenarios of oil Inflation, currency inflation, non-oil inflation, and resistant economy are the most probable scenarios and pension funds will have to allocate their assets according to the characteristics of these scenarios. Next, best worst method (BWM), was employed to extract each scenario weight and asset classes weights in each scenario as well. To our knowledge, this was the first time to combine such methods in an integrated manner to tackle the asset allocation problem. Manuscript profile
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