English, Article, Journal or magazine article edition: Forms of Benefit Payment at Retirement Pablo Antolín; Colin Pugh; Fiona Stewart

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Bookmark: http://trove.nla.gov.au/version/87192
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Forms of Benefit Payment at Retirement
Author
  • Pablo Antolín
  • Colin Pugh
  • Fiona Stewart
Physical Description
  • preprint
Notes
  • This paper focuses on describing the international practice on the various forms of retirement benefit payment currently allowed in countries throughout the world and the regulatory environment surrounding these different forms of benefit payment. The analysis suggests considerable variance between countries. Some countries only allow one form of retirement payment, while others allow several forms or even a combination of them. Examining country practices as regard the providers of benefit payments, suggest that lump-sums and programmed withdrawals are generally provided by pension funds; while, as regard life annuities, providers varied from insurance companies, to pension funds, financial intermediaries and a centralised annuity fund. The paper ends by examining the role of taxation where a choice between different types of benefit payments is allowed. Tax provision plays a key direct or indirect role in influencing payout options. Cross country evidence is varied but suggests that there is often an unequal tax treatment of the various forms of retirement payout options. Les différentes formes de prestations de retraitePour l‘essentiel, ce document décrit les pratiques internationales en vigueur concernant les formes de prestations de retraite actuellement autorisées dans le monde, ainsi que les dispositifs réglementaires qui les régissent. Cette analyse fait ressortir de profondes disparités entre les pays. Certains n‘autorisent en effet qu‘un seul type de prestations, alors que dans d‘autres, plusieurs formules peuvent être envisagées, voir associées. S‘agissant des prestataires, l‘examen des pratiques nationales tend à montrer que les sorties en capital et les retraits programmés sont généralement proposés par des fonds de pension, alors que les rentes viagères sont servies par des compagnies d‘assurance, des fonds de pension, des intermédiaires financiers ou une caisse de retraite centralisée. Ce document s‘achève sur une analyse du rôle joué par la fiscalité lorsque plusieurs types de prestations sont possibles. Les dispositions fiscales exercent alors directement ou indirectement une influence décisive sur le choix des modes de sortie. Les données comparatives concernant les différents pays sont hétérogènes, mais laissent supposer que les divers modes de sortie sont rarement soumis au même régime fiscal.
  • taxation, fiscalité, pension fund, fonds de pension, rente viagère, benefit payments at retirement, centralized annuity fund, financial intermediaries, insurance companies, life annuities, lump-sums, programmed withdrawal, regulatory environment, caisse de retraite centralisée, compagnie d’assurances, dispositif réglementaire, intermédiaires financiers, prestations de retraite, retrait programmé, sorties en capital
  • RePEc:oec:dafaab:26-en
Language
  • English
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