203 lines
No EOL
39 KiB
HTML
203 lines
No EOL
39 KiB
HTML
<!doctype html>
|
|
<html class="no-js" lang="en">
|
|
<head>
|
|
<meta charset="UTF-8" />
|
|
<meta http-equiv="X-UA-Compatible" content="IE=edge,chrome=1" />
|
|
<meta name="viewport" content="width=device-width, initial-scale=1" />
|
|
<title>International Update, September 2016</title>
|
|
<meta name="dc.identifier" content="https://www.ssa.gov/policy/docs/progdesc/intl_update/2016-09/index.html" />
|
|
<meta name="DCTERMS:contentOffice" content="ORDP:ORES" />
|
|
<meta name="DCTERMS:contentOwner" content="publications@ssa.gov" />
|
|
<meta name="DCTERMS:coderOffice" content="ORDP:ORES:OD" />
|
|
<meta name="DCTERMS:coder" content="op.webmaster@ssa.gov" />
|
|
<meta name="DCTERMS:dateCertified" content="2025-01-01" />
|
|
<meta name="description" content="Social Security Administration Research, Statistics, and Policy Analysis" />
|
|
<!-- STYLES & SCRIPTS -->
|
|
<script src="https://code.jquery.com/jquery-3.7.1.min.js" integrity="sha256-/JqT3SQfawRcv/BIHPThkBvs0OEvtFFmqPF/lYI/Cxo=" crossorigin="anonymous"></script>
|
|
<link href="/framework/css/phoenix.css" rel="stylesheet" media="all" />
|
|
<link href="/policy/styles/nav.css" rel="stylesheet" media="all" />
|
|
<link href="/policy/styles/nav-shared.css" rel="stylesheet" media="all" />
|
|
<!-- SSA INTERNET HEAD SCRIPTS -->
|
|
<script src="/framework/js/ssa.internet.head.js"></script>
|
|
|
|
<script>(window.BOOMR_mq=window.BOOMR_mq||[]).push(["addVar",{"rua.upush":"false","rua.cpush":"false","rua.upre":"false","rua.cpre":"false","rua.uprl":"false","rua.cprl":"false","rua.cprf":"false","rua.trans":"SJ-3a3bb884-f513-47e3-a86c-84bab05e21dc","rua.cook":"true","rua.ims":"false","rua.ufprl":"false","rua.cfprl":"false","rua.isuxp":"false","rua.texp":"norulematch","rua.ceh":"false","rua.ueh":"false","rua.ieh.st":"0"}]);</script>
|
|
<script>!function(e){var n="https://s.go-mpulse.net/boomerang/";if("False"=="True")e.BOOMR_config=e.BOOMR_config||{},e.BOOMR_config.PageParams=e.BOOMR_config.PageParams||{},e.BOOMR_config.PageParams.pci=!0,n="https://s2.go-mpulse.net/boomerang/";if(window.BOOMR_API_key="LERZW-HECFS-R8H4E-23UQ7-ERMQB",function(){function e(){if(!o){var e=document.createElement("script");e.id="boomr-scr-as",e.src=window.BOOMR.url,e.async=!0,i.parentNode.appendChild(e),o=!0}}function t(e){o=!0;var n,t,a,r,d=document,O=window;if(window.BOOMR.snippetMethod=e?"if":"i",t=function(e,n){var t=d.createElement("script");t.id=n||"boomr-if-as",t.src=window.BOOMR.url,BOOMR_lstart=(new Date).getTime(),e=e||d.body,e.appendChild(t)},!window.addEventListener&&window.attachEvent&&navigator.userAgent.match(/MSIE [67]\./))return window.BOOMR.snippetMethod="s",void t(i.parentNode,"boomr-async");a=document.createElement("IFRAME"),a.src="about:blank",a.title="",a.role="presentation",a.loading="eager",r=(a.frameElement||a).style,r.width=0,r.height=0,r.border=0,r.display="none",i.parentNode.appendChild(a);try{O=a.contentWindow,d=O.document.open()}catch(_){n=document.domain,a.src="javascript:var d=document.open();d.domain='"+n+"';void(0);",O=a.contentWindow,d=O.document.open()}if(n)d._boomrl=function(){this.domain=n,t()},d.write("<bo"+"dy onload='document._boomrl();'>");else if(O._boomrl=function(){t()},O.addEventListener)O.addEventListener("load",O._boomrl,!1);else if(O.attachEvent)O.attachEvent("onload",O._boomrl);d.close()}function a(e){window.BOOMR_onload=e&&e.timeStamp||(new Date).getTime()}if(!window.BOOMR||!window.BOOMR.version&&!window.BOOMR.snippetExecuted){window.BOOMR=window.BOOMR||{},window.BOOMR.snippetStart=(new Date).getTime(),window.BOOMR.snippetExecuted=!0,window.BOOMR.snippetVersion=12,window.BOOMR.url=n+"LERZW-HECFS-R8H4E-23UQ7-ERMQB";var i=document.currentScript||document.getElementsByTagName("script")[0],o=!1,r=document.createElement("link");if(r.relList&&"function"==typeof r.relList.supports&&r.relList.supports("preload")&&"as"in r)window.BOOMR.snippetMethod="p",r.href=window.BOOMR.url,r.rel="preload",r.as="script",r.addEventListener("load",e),r.addEventListener("error",function(){t(!0)}),setTimeout(function(){if(!o)t(!0)},3e3),BOOMR_lstart=(new Date).getTime(),i.parentNode.appendChild(r);else t(!1);if(window.addEventListener)window.addEventListener("load",a,!1);else if(window.attachEvent)window.attachEvent("onload",a)}}(),"".length>0)if(e&&"performance"in e&&e.performance&&"function"==typeof e.performance.setResourceTimingBufferSize)e.performance.setResourceTimingBufferSize();!function(){if(BOOMR=e.BOOMR||{},BOOMR.plugins=BOOMR.plugins||{},!BOOMR.plugins.AK){var n="false"=="true"?1:0,t="cookiepresent",a="eyd7g6aaiaaamjqacqdfqaaaabt3morl-f-e0837c4f8-clienttons-s.akamaihd.net",i="false"=="true"?2:1,o={"ak.v":"39","ak.cp":"1204614","ak.ai":parseInt("728289",10),"ak.ol":"0","ak.cr":3,"ak.ipv":6,"ak.proto":"h2","ak.rid":"14c886a6","ak.r":19138,"ak.a2":n,"ak.m":"dsca","ak.n":"essl","ak.bpcip":"2607:f378:40:6::","ak.cport":40596,"ak.gh":"23.60.168.62","ak.quicv":"","ak.tlsv":"tls1.3","ak.0rtt":"","ak.0rtt.ed":"","ak.csrc":"-","ak.acc":"","ak.t":"1739995691","ak.ak":"hOBiQwZUYzCg5VSAfCLimQ==XrUH7yK8dnFvqWRTeAgfbsNHlaIq0TK5BWEoHXLH+sv9tXNKS6XTadBnCI0QJwiZqoj2pY0yM6ajt0fcvV65aapSLNK4BY9NMjezCrgpUH/mR87g99GtX8v9Vr9OGbDM1iAoxiq7zSpId4b5sdDZsZn2wFKYjd++edS6JUOcXUEkyZ59WsH8OAS/vZ8tdbMOotEo4sdcl2VF0E78zvQf3Neh1P0F2vz6jHvjbKdZ/lq1Dh9q7tfZf0PZsgzmF4YNKr1yuKWKBpkOOCwqe2WFs1RfByBoQdXyUd9VPteJ5JvrkVOuWmn45TnzAF6vmAVz6tF9cPjOVU7L6pbnXyyIWbs3ShFS6YDhrJQjqpkS1ngr7+JVqVNSLge2E4glNZX0Ouvg756o7TLWttRiEon+bATpXvmqtkgBFgMn6xmjCbw=","ak.pv":"98","ak.dpoabenc":"","ak.tf":i};if(""!==t)o["ak.ruds"]=t;var r={i:!1,av:function(n){var t="http.initiator";if(n&&(!n[t]||"spa_hard"===n[t]))o["ak.feo"]=void 0!==e.aFeoApplied?1:0,BOOMR.addVar(o)},rv:function(){var e=["ak.bpcip","ak.cport","ak.cr","ak.csrc","ak.gh","ak.ipv","ak.m","ak.n","ak.ol","ak.proto","ak.quicv","ak.tlsv","ak.0rtt","ak.0rtt.ed","ak.r","ak.acc","ak.t","ak.tf"];BOOMR.removeVar(e)}};BOOMR.plugins.AK={akVars:o,akDNSPreFetchDomain:a,init:function(){if(!r.i){var e=BOOMR.subscribe;e("before_beacon",r.av,null,null),e("onbeacon",r.rv,null,null),r.i=!0}return this},is_complete:function(){return!0}}}}()}(window);</script></head>
|
|
<body class="RA IU">
|
|
<div id="page">
|
|
<div class="bg-dark-gray accessibility" id="accessibility"><a id="skip-navigation" href="#content">Skip to main content</a></div><ssa-header class="print-hide"><noscript><header class="banner-neo" id="banner" role="banner" style="background-color: #0b4778;"><div class="banner-wrapper"><h1 class="banner-logo"><a class="banner-logo__link" href="/">Social Security</a></h1><nav class="banner-nav" id="banner-nav"><a class="banner-nav__link banner-search" href="https://search.ssa.gov/search?affiliate=ssa" title="Search" target="_blank"><svg class="banner-nav__icon" focusable="false" width="24" height="24" viewbox="0 0 24 24"><path d="M 10 23 C 11.219 23 12.384 22.762 13.496 22.285 C 14.608 21.808 15.565 21.169 16.367 20.367 C 17.169 19.565 17.808 18.608 18.285 17.496 C 18.762 16.384 19 15.219 19 14 C 19 12.953 18.829 11.951 18.488 10.992 C 18.147 10.033 17.661 9.164 17.031 8.383 L 22.711 2.711 C 22.904 2.518 23 2.281 23 2 C 23 1.713 22.905 1.475 22.715 1.285 C 22.525 1.095 22.287 1 22 1 C 21.719 1 21.482 1.096 21.289 1.289 L 15.617 6.969 C 14.836 6.339 13.966 5.853 13.008 5.512 C 12.05 5.171 11.047 5 10 5 C 8.781 5 7.616 5.238 6.504 5.715 C 5.392 6.192 4.435 6.831 3.633 7.633 C 2.831 8.435 2.192 9.392 1.715 10.504 C 1.238 11.616 1 12.781 1 14 C 1 15.219 1.238 16.384 1.715 17.496 C 2.192 18.608 2.831 19.565 3.633 20.367 C 4.435 21.169 5.392 21.808 6.504 22.285 C 7.616 22.762 8.781 23 10 23 Z M 10 21 C 9.052 21 8.146 20.815 7.281 20.445 C 6.416 20.075 5.672 19.578 5.047 18.953 C 4.422 18.328 3.925 17.584 3.555 16.719 C 3.185 15.854 3 14.948 3 14 C 3 13.052 3.185 12.146 3.555 11.281 C 3.925 10.416 4.422 9.672 5.047 9.047 C 5.672 8.422 6.416 7.925 7.281 7.555 C 8.146 7.185 9.052 7 10 7 C 10.948 7 11.854 7.185 12.719 7.555 C 13.584 7.925 14.328 8.422 14.953 9.047 C 15.578 9.672 16.075 10.416 16.445 11.281 C 16.815 12.146 17 13.052 17 14 C 17 14.948 16.815 15.854 16.445 16.719 C 16.075 17.584 15.578 18.328 14.953 18.953 C 14.328 19.578 13.584 20.075 12.719 20.445 C 11.854 20.815 10.948 21 10 21 Z" transform="matrix(-1, 0, 0, -1, 24.000001, 24.000001)" vector-effect="non-scaling-stroke"></path></svg> <span>Search</span> </a><a class="banner-nav__link banner-menu" href="/menu" id="ssa-menu" title="Menu"><svg class="banner-nav__icon" focusable="false" width="24" height="24" viewbox="0 0 24 24"><path d="M3 5h18q.414 0 .707.293T22 6t-.293.707T21 7H3q-.414 0-.707-.293T2 6t.293-.707T3 5zm0 12h18q.414 0 .707.293T22 18t-.293.707T21 19H3q-.414 0-.707-.293T2 18t.293-.707T3 17zm0-6h18q.414 0 .707.293T22 12t-.293.707T21 13H3q-.414 0-.707-.293T2 12t.293-.707T3 11z" vector-effect="non-scaling-stroke"></path></svg> <span>Menu</span> </a><a class="banner-nav__link banner-languages" href="/es" id="ssa-languages" title="Español" hreflang="es"><svg class="banner-nav__icon" focusable="false" width="24" height="24" viewbox="0 0 24 24"><path d="M12 0C5.373 0 0 5.373 0 12s5.373 12 12 12c.812 0 1.604-.08 2.37-.235-.31-.147-.343-1.255-.037-1.887.34-.703 1.406-2.485.35-3.08-1.053-.6-.76-.868-1.405-1.56-.644-.692-.38-.796-.422-.974-.14-.61.62-1.523.656-1.616.035-.094.035-.446.023-.55-.012-.107-.48-.387-.597-.4-.117-.01-.176.188-.34.2-.164.012-.88-.433-1.03-.55-.154-.117-.224-.398-.435-.61-.21-.212-.235-.047-.562-.175-.327-.13-1.382-.516-2.19-.844-.81-.33-.88-.79-.892-1.114-.012-.325-.492-.797-.718-1.137-.225-.342-.267-.81-.348-.705-.082.106.422 1.336.34 1.37-.083.037-.26-.338-.493-.643-.235-.304.245-.14-.505-1.617-.75-1.476.235-2.23.282-3 .048-.77.633.28.328-.21-.304-.493.023-1.524-.21-1.9-.235-.374-1.57.423-1.57.423.034-.363 1.17-.985 1.99-1.56.82-.573 1.322-.128 1.982.083.66.21.703.142.48-.07-.222-.21.094-.316.61-.235.516.082.656.704 1.442.645.784-.06.08.152.186.35.105.2-.117.177-.633.53-.516.35.012.35.926 1.02.913.667.632-.447.538-.94-.094-.49.668-.105.668-.105.563.375.46.02.87.15.408.13 1.52 1.07 1.52 1.07-1.395.762-.516.844-.282 1.02.235.175-.48.515-.48.515-.294-.293-.34.012-.528.117-.187.105-.012.375-.012.375-.97.153-.75 1.173-.738 1.418.012.247-.62.622-.786.973-.164.35.423 1.113.117 1.16-.305.048-.61-1.148-2.25-.703-.495.134-1.593.703-1.008 1.863.585 1.16 1.558-.328 1.886-.164.33.163-.093.902-.023.913.07.012.927.033.974 1.032.048 1 1.3.914 1.57.938.27.023 1.173-.74 1.3-.774.13-.035.646-.47 1.77.175 1.126.644 1.7.55 2.086.82.387.27.117.81.48.985.365.176 1.818-.058 2.18.54.364.597-1.5 3.597-2.085 3.925-.586.328-.856 1.078-1.442 1.558-.69.563-1.418 1.076-2.18 1.535-.684.407-.807 1.137-1.112 1.367C19.984 22.52 24 17.73 24 12c0-6.627-5.373-12-12-12zm2.813 11.262c-.165.047-.504.352-1.336-.14-.832-.494-1.406-.4-1.477-.48 0 0-.07-.2.293-.236.747-.072 1.688.692 1.9.704.21.012.315-.21.69-.09.375.12.094.195-.07.242zM10.887 1.196c-.082-.06.068-.128.157-.246.05-.07.013-.182.078-.246.175-.177 1.043-.423.874.058-.17.48-.98.527-1.11.434zm2.098 1.523c-.293-.013-.983-.086-.856-.212.494-.492-.188-.633-.61-.668-.423-.036-.598-.27-.388-.294.21-.024 1.055.013 1.196.13.14.117.902.422.95.644.047.223 0 .41-.293.4zm2.542-.083c-.234.188-1.413-.673-1.64-.867-.985-.844-1.513-.563-1.72-.703-.206-.142-.132-.33.184-.61.318-.282 1.21.094 1.724.152.516.058 1.113.457 1.125.93.01.474.562.91.327 1.097z" vector-effect="non-scaling-stroke"></path></svg> <span>Español</span> </a><a class="banner-nav__link banner-signin" href="https://secure.ssa.gov/RIL/SiView.action" id="ssa-signin" title="Sign in" target="_blank"><svg class="banner-nav__icon" focusable="false" width="24" height="24" viewbox="0 0 24 24"><path d="M12 17.016q-.797 0-1.406-.61t-.61-1.405.61-1.405 1.406-.61 1.406.61.61 1.406-.61 1.407-1.406.61zm6 3V9.986H6v10.03h12zm-6-17.11q-1.266 0-2.18.914T8.906 6H9v2.016h6.094V6q0-1.266-.914-2.18T12 2.906zm6 5.11q.797 0 1.406.586t.61 1.383v10.03q0 .798-.61 1.384T18 21.984H6q-.797 0-1.406-.586t-.61-1.384V9.986q0-.798.61-1.384T6 8.016h.984V6q0-2.063 1.477-3.54T12 .985t3.54 1.477T17.015 6v2.016H18z" vector-effect="non-scaling-stroke"></path></svg> <span>Sign in</span></a></nav></div></header></noscript></ssa-header><script src="https://www.ssa.gov/legacy/components/dist/ssa-header.js"></script>
|
|
<div id="title-bar"><h2>Research, Statistics & Policy Analysis</h2></div>
|
|
<div class="rMenuBtn show-phone" id="rMenuBtn">☰ Browse publications</div>
|
|
<div id="content" role="main">
|
|
<div class="grid">
|
|
<div class="breadRSPA" itemscope itemtype="http://schema.org/BreadcrumbList">You are here: <span itemprop="itemListElement" itemscope itemtype="http://schema.org/ListItem"><a href="/" itemprop="item"><span itemprop="name">Social Security Administration</span></a><meta itemprop="position" content="1" /></span> > <span itemprop="itemListElement" itemscope itemtype="http://schema.org/ListItem"><a href="/policy/index.html" itemprop="item"><span itemprop="name">Research, Statistics & Policy Analysis</span></a><meta itemprop="position" content="2" /></span> > <span itemprop="itemListElement" itemscope itemtype="http://schema.org/ListItem"><a href="/policy/research.html" itemprop="item"><span itemprop="name">Research & Analysis Archives</span></a><meta itemprop="position" content="3" /></span> > International Update, September 2016</div>
|
|
<div class="row-12">
|
|
<div class="column-3 leftNav"><nav class="rMenu" id="rMenu" role="navigation" aria-label="Main Navigation">
|
|
<ul>
|
|
<li id="RSH"><a href="/policy/index.html">Research & Statistics Home</a></li>
|
|
<li class="hasFly menu1a" id="RA"><a href="#" aria-haspopup="true" aria-expanded="false">Research & Analysis</a>
|
|
<ul>
|
|
<li><a href="/policy/docs/progdesc/intl_update/index.html">International Update</a></li>
|
|
<li><a href="/policy/research.html?type=Issue%20Paper">Issue Papers</a></li>
|
|
<li><a href="/policy/research.html?type=ORES%20Working%20Paper"><abbr class="spell">ORES</abbr> Working Papers</a></li>
|
|
<li><a href="/policy/research.html?type=Policy%20Brief">Policy Briefs</a></li>
|
|
<li><a href="/policy/research.html?type=Research%20and%20Statistics%20Note">Research & Statistics Notes</a></li>
|
|
<li><a href="/policy/research.html?type=Research%20Summary">Research Summaries</a></li>
|
|
<li><a href="/policy/docs/ssb/index.html">Social Security Bulletin</a></li>
|
|
</ul>
|
|
</li>
|
|
<li class="menu2a"><a href="/policy/research.html" title="Research and Analysis Archives">Archives</a></li>
|
|
<li class="menu2a"><a href="/policy/author-index.html">Author index</a></li>
|
|
<li class="noClick menu1a" id="SDF"><a href="#" tabindex="-1">Statistics</a></li>
|
|
<li class="hasFly menu2a"> <a href="#" aria-haspopup="true" aria-expanded="false">Current editions</a>
|
|
<ul>
|
|
<li><a href="/policy/docs/statcomps/di_asr/index.html">Annual Statistical Report on the Social Security Disability Insurance Program</a></li>
|
|
<li><a href="/policy/docs/statcomps/supplement/index.html">Annual Statistical Supplement</a></li>
|
|
<li><a href="/policy/docs/factsheets/cong_stats/index.html">Congressional Statistics</a></li>
|
|
<li><a href="/policy/docs/chartbooks/di-ssi-employment/index.html"><abbr class="spell">DI</abbr> & <abbr class="spell">SSI</abbr> Program Participants: Characteristics & Employment</a></li>
|
|
<li><a href="/policy/docs/statcomps/eedata_sc/index.html">Earnings & Employment Data..., by State & County</a></li>
|
|
<li><a href="/policy/docs/chartbooks/expenditures_aged/index.html">Expenditures of the Aged Chartbook</a></li>
|
|
<li><a href="/policy/docs/chartbooks/fast_facts/index.html">Fast Facts & Figures About Social Security</a></li>
|
|
<li><a href="/policy/docs/chartbooks/income_aged/index.html">Income of the Aged Chartbook</a></li>
|
|
<li><a href="/policy/docs/statcomps/income_pop55/index.html">Income of the Population 55 or Older</a></li>
|
|
<li><a href="/policy/docs/statcomps/nbs/index.html">National Beneficiary Survey: Disability Statistics</a></li>
|
|
<li><a href="/policy/docs/statcomps/oasdi_sc/index.html"><abbr class="spell">OASDI</abbr> Beneficiaries by State & County</a></li>
|
|
<li><a href="/policy/docs/statcomps/oasdi_zip/index.html"><abbr class="spell">OASDI</abbr> Beneficiaries by State & <abbr>ZIP</abbr> Code</a></li>
|
|
<li><a href="/policy/docs/statcomps/ssi_asr/index.html"><abbr class="spell">SSI</abbr> Annual Statistical Report</a></li>
|
|
<li><a href="/policy/docs/statcomps/ssi_monthly/index.html"><abbr class="spell">SSI</abbr> Monthly Statistics</a></li>
|
|
<li><a href="/policy/docs/statcomps/ssi_sc/index.html"><abbr class="spell">SSI</abbr> Recipients by State & County</a></li>
|
|
<li><a href="/policy/statistics.html?type=Statistics%20at%20a%20Glance">Statistics At a Glance</a></li>
|
|
</ul>
|
|
</li>
|
|
<li class="menu2b"> <a href="/policy/statistics.html" title="Statistics Archives">Archives</a></li>
|
|
<li class="menu1b" id="PUDF"><a href="/policy/docs/data/index.html">Public-Use Data Files</a></li>
|
|
<li class="hasFly menu1b" id="POP"><a href="#" aria-haspopup="true" aria-expanded="false">Population Profiles</a>
|
|
<ul>
|
|
<li><a href="/policy/docs/population-profiles/child-beneficiaries.html">Child Beneficiaries</a></li>
|
|
<li><a href="/policy/docs/population-profiles/child-beneficiary-families.html">Child Beneficiary Families</a></li>
|
|
<li><a href="/policy/docs/population-profiles/fully-insured-workers.html">Fully Insured Workers</a></li>
|
|
<li><a href="/policy/docs/population-profiles/marital-status-poverty.html">Marital Status & Poverty</a></li>
|
|
<li><a href="/policy/docs/population-profiles/middle-class-beneficiaries.html">Middle Class Beneficiaries</a></li>
|
|
<li><a href="/policy/docs/population-profiles/never-beneficiaries.html">Never Beneficiaries</a></li>
|
|
<li><a href="/policy/docs/population-profiles/tax-max-earners.html">Taxable Maximum Earners</a></li>
|
|
<li><a href="/policy/docs/population-profiles/veteran-beneficiaries.html">Veteran Beneficiaries</a></li>
|
|
</ul>
|
|
</li>
|
|
<li class="hasFly menu1b" id="PE"><a href="#" aria-haspopup="true" aria-expanded="false">Program Explainers</a>
|
|
<ul>
|
|
<li><a href="/policy/docs/program-explainers/benefit-claiming-age.html">Benefit Claiming Age</a></li>
|
|
<li><a href="/policy/docs/program-explainers/government-pension-offset.html">Government Pension Offset</a></li>
|
|
<li><a href="/policy/docs/program-explainers/retirement-earnings-test.html">Retirement Earnings Test</a></li>
|
|
<li><a href="/policy/docs/program-explainers/scheduled-payable.html">Scheduled <abbr title="versus">vs.</abbr> Payable Benefits</a></li>
|
|
<li><a href="/policy/docs/program-explainers/special-minimum.html">Special Minimum Benefit</a></li>
|
|
<li><a href="/policy/docs/program-explainers/poverty-decline.html">Why Will Poverty Decline for Beneficiaries?</a></li>
|
|
<li><a href="/policy/docs/program-explainers/windfall-elimination-provision.html">Windfall Elimination Provision</a></li>
|
|
</ul>
|
|
</li>
|
|
<li class="noClick menu1a" id="PM"><a href="#" tabindex="-1">Projections</a></li>
|
|
<li class="hasFly menu2a" id="PFS"><a href="#" aria-haspopup="true" aria-expanded="false">Fact sheets</a>
|
|
<ul>
|
|
<li><a href="/policy/docs/projections/populations/divorced-spousal-2050.html">By beneficiary type</a></li>
|
|
<li><a href="/policy/docs/projections/populations/beneficiaries-60-or-older.html">By demographic group</a></li>
|
|
</ul>
|
|
</li>
|
|
<li class="hasFly menu2a" id="PPO"><a href="#" aria-haspopup="true" aria-expanded="false">Tables</a>
|
|
<ul>
|
|
<li><a href="/policy/docs/projections/policy-options/index.html">Policy options/proposals</a></li>
|
|
<li><a href="/policy/docs/projections/tables/beneficiaries.html">Profile of beneficiaries by race & ethnicity</a></li>
|
|
<li><a href="/policy/docs/projections/tables/taxpayers.html">Profile of taxpayers by race & ethnicity</a></li>
|
|
</ul>
|
|
</li>
|
|
</ul>
|
|
</nav></div>
|
|
<div class="column-9">
|
|
<div id="docTitle">
|
|
<h3>International Update, September 2016</h3>
|
|
<div class="releaseDate">(released September 2016)</div>
|
|
</div>
|
|
<div class="sidebar">
|
|
<img src="cover.jpg" alt="International Update cover" class="cover" />
|
|
<h4 class="sidebar-gray">Contact</h4>
|
|
<p><a href="mailto:research@ssa.gov?subject=International%20Update">research@ssa.gov</a></p>
|
|
<h4 class="sidebar-gray">Next Expected Update</h4>
|
|
<p id="js-exp"></p>
|
|
<p><a class="mailIcon" href="/policy/notify/index.html">Subscribe to Updates</a></p>
|
|
<p><a class="calendarIcon" href="/policy/pub_schedule.html">Publishing Schedule</a></p>
|
|
<div id="js-ed"></div>
|
|
</div>
|
|
<div class="order5">
|
|
<div class="container-red downloadBox">
|
|
<p><a href="/policy/docs/progdesc/intl_update/2016-09/2016-09.pdf" rel="nofollow" title="Download entire publication as PDF">Download entire publication</a> <span class="eightypercent">(0.3 MB)</span></p>
|
|
</div>
|
|
<h4 id="toc">In This Issue</h4>
|
|
<ul class="IUtoc">
|
|
<li><a href="#europe">Europe</a>
|
|
<ul>
|
|
<li><a href="#turkey">Turkey Introduces Automatic Enrollment for Private Pensions</a></li>
|
|
</ul>
|
|
</li>
|
|
<li><a href="#asia">Asia and the Pacific</a>
|
|
<ul>
|
|
<li><a href="#india">India Lowers Minimum Annual Contribution and Balance Requirements for Individual Account Program</a></li>
|
|
<li><a href="#japan">Japan Will Implement Changes to Defined Contribution Plans</a></li>
|
|
</ul>
|
|
</li>
|
|
</ul>
|
|
<h4 id="europe">Europe</h4>
|
|
<h5 id="turkey">Turkey Introduces Automatic Enrollment for Private Pensions</h5>
|
|
<p>On August 10, the Turkish government approved an amendment to the Private Pension Savings and Investment System Law (implemented in 2003) that requires the automatic enrollment of all wage-earning citizens younger than age 45 (in both the public and private sectors) into private defined-contribution pension plans. The amendment is effective on January 1, 2017. According to the government, the reform will expand participation in private pension plans and increase retirement savings in the country. At present, only around 8 percent of the population (6.4 million people out of a total estimated population of 79 million people) contributes to a private pension plan.</p>
|
|
<p>Under the new rules, employees will automatically contribute 3 percent of their gross income to private pension plans chosen by their employers. (The Council of Ministers has the authority to increase the automatic contribution rate up to 6 percent or to decrease it to 1 percent in the future.) Employees may choose to opt out of the system within the first two months following their automatic enrollment and have their paid contributions plus any investment returns refunded. The government will match 25 percent of an employee's contributions and will make an additional <span class="nobr">one-time</span> contribution of 1,000 liras (<abbr class="spell">US</abbr>$337.73) for those who do not opt out within the first two months. (Government contributions are subject to certain vesting requirements.) There is no contribution requirement for employers.</p>
|
|
<p>Other key provisions of the amendment include:</p>
|
|
<ul>
|
|
<li>A participating employee who changes jobs will have his or her account balance transferred to the new employer's private pension plan. If the new employer does not have a private pension plan, the employee may choose to remain covered under his or her previous employer's plan or terminate participation altogether.</li>
|
|
<li>Upon retirement, employees may choose to withdraw their savings as a lump sum or purchase an annuity. As an incentive to annuitize, the government will contribute an extra 5 percent of the account balance for those who purchase an annuity paid over a period exceeding 10 years.</li>
|
|
</ul>
|
|
<p>Under the rules currently in place, enrollment in the private pension system is strictly voluntary and available to all individuals aged 18 or older. (There are no employment relationship requirements.) Participants may open an account with a pension company, and the contribution varies according to the contract with the company. (Details are not yet available on the impact of the new amendment on these current rules for voluntary participants.) As with the new rules, the government provides a match (since 2013) of 25 percent of an employee's contributions to encourage participation. There are currently 19 private pension companies with around 56 billion lira (<abbr class="spell">US</abbr>$18.9 billion) in assets under management.</p>
|
|
<p>Private pensions supplement the public <span class="nobr">pay-as-you-go</span> (<abbr class="spell">PAYG</abbr>) pension program that covers all employees, including civil servants, self-employed persons, and <span class="nobr">full-time</span> household workers. Employees contribute 9 percent of their monthly earnings to the <abbr class="spell">PAYG</abbr> program; employers contribute an additional 11 percent. In general, public <span class="nobr">old-age</span> pensions are paid at age 60 for men (age 58 for women) with at least 7,200 days of paid contributions, or at age 63 for men (age 61 for women) with at least 5,400 days of paid contributions.</p>
|
|
<div class="reference"><b>Sources:</b> <i><abbr class="spell">OECD</abbr> Private Pensions Outlook 2008</i>, Organisation for Economic Co-operation and Development, 2008; <a href="/policy/docs/progdesc/ssptw/2014-2015/europe/index.html"><i>Social Security Programs Throughout the World: Europe, 2014</i></a>, <abbr>U.S.</abbr> Social Security Administration, September 2014; “Turkey Approves New Auto-Enrollment Law for Private Pensions,” International Adviser, August 15, 2016; “Turkish Employees to be Automatically Enrolled to the Private Pension System,” Baker & McKenzie International, August 25, 2016; “A New Era for the Private Pension System in Turkey,” <abbr class="spell">CMS</abbr> <span class="nobr">Law-Now,</span> August 25, 2016; “Turkey Lawmakers Approve New Mandatory Private Pension Law,” <i>Middle East Insurance Review</i>, September 1, 2016.</div>
|
|
<h4 id="asia">Asia and the Pacific</h4>
|
|
<h5 id="india">India Lowers Minimum Annual Contribution and Balance Requirements for Individual Account Program</h5>
|
|
<p>On August 9, India's Pension Fund Regulatory and Development Authority (<abbr class="spell">PFRDA</abbr>) announced that it would immediately lower the minimum annual contribution and balance requirements for the country's National Pension System (<abbr class="spell">NPS</abbr>), an individual account program. As a result, the minimum annual contributions required to keep an <abbr class="spell">NPS</abbr> account active were reduced from 6,000 rupees (<abbr class="spell">US</abbr>$89.72) to 1,000 rupees (<abbr class="spell">US</abbr>$14.95) for the Tier <abbr title="one">I</abbr> (retirement) account and from 250 rupees [<abbr class="spell">US</abbr>$3.74] to 0 rupees for the Tier <abbr title="two">II</abbr> (savings) account. Likewise, the minimum annual balance to keep a Tier <abbr title="two">II</abbr> account active, which had been 2,000 rupees (<abbr class="spell">US</abbr>$29.90), was abolished. (There is no balance requirement for Tier <abbr title="one">I</abbr> accounts.) In conjunction with these policy changes, the <abbr class="spell">PFRDA</abbr> took the <span class="nobr">one-time</span> action of reactivating all existing <abbr class="spell">NPS</abbr> accounts that had been frozen for not meeting the prior contribution and balance requirements.</p>
|
|
<p>By lowering the account minimums and restoring frozen accounts, the <abbr class="spell">PFRDA</abbr> is seeking to boost active participation in the <abbr class="spell">NPS</abbr>. As of January 2, the <abbr class="spell">NPS</abbr> had nearly 9.5 million registered participants (out of a 2016 estimated population of 846 million people aged 18 or older), but only about half of those participants (53 percent, or 5 million) were potentially eligible to contribute to their <abbr class="spell">NPS</abbr> accounts (the remaining portion were <abbr class="spell">NPS</abbr> pensioners). Moreover, within this group of potential contributors, the overwhelming majority of participants (89 percent, or 4.5 million) were government employees. The concentration of <abbr class="spell">NPS</abbr> participants in the public sector has only decreased slightly (by approximately 11 percent) since the program was opened in 2009 to all Indian citizens (aged 18 to 60) on a voluntary basis. Participation in the <abbr class="spell">NPS</abbr> has been mandatory for all new central government employees and some new state government employees since the government established the program in 2004.</p>
|
|
<p>Although the <abbr class="spell">NPS</abbr> has undergone several reforms in recent years, the basic design of the program has not changed. Every participant in the <abbr class="spell">NPS</abbr> receives access to two types of accounts: (1) a compulsory Tier <abbr title="one">I</abbr> account for retirement savings and (2) an optional Tier <abbr title="two">II</abbr> account for personal savings. Similar investment options exist for both types of accounts, but participant access to account funds is much more restricted for Tier <abbr title="one">I</abbr> accounts than it is for Tier <abbr title="two">II</abbr> accounts. Funds in Tier <abbr title="one">I</abbr> accounts cannot be accessed unless they are primarily used to purchase an annuity (the exact share that must be annuitized varies from 40 percent to 100 percent depending on the age of the participant and the size of the Tier <abbr title="one">I</abbr> balance). <abbr class="spell">NPS</abbr> rules require participants to annuitize their Tier <abbr title="one">I</abbr> accounts by age 60. By comparison, funds in Tier <abbr title="two">II</abbr> accounts can be withdrawn at any time and used for any purpose.</p>
|
|
<p>Besides the <abbr class="spell">NPS</abbr>, the other major pension programs in India are the Employees' Provident Fund (<abbr class="spell">EPY</abbr>), Employees' Pension Scheme (<abbr class="spell">EPS</abbr>), and Atal Pension Yojna (<abbr class="spell">APY</abbr>) Universal Pension. The <abbr class="spell">EPY</abbr> offers lower income workers employed at larger firms (those with 20 or more employees) a provident-fund pension that can be claimed at age 55. The <abbr class="spell">EPS</abbr> covers the same group of workers as the <abbr class="spell">EPY</abbr>, but a worker must be aged 58 or older and have at least 10 years of coverage to qualify for a full benefit from this supplemental defined-benefit program. The <abbr class="spell">APY</abbr> is a voluntary defined-benefit program targeted at informal-sector workers aged 18 to 40.</p>
|
|
<div class="reference"><b>Sources:</b> “<a href="/policy/docs/progdesc/intl_update/2012-08/index.html#india">India</a>,” <i>International Update</i>, <abbr>U.S.</abbr> Social Security Administration, August 2012; <a href="/policy/docs/progdesc/ssptw/2014-2015/asia/index.html"><i>Social Security Programs Throughout the World: Asia and the Pacific, 2014</i></a>, <abbr>U.S.</abbr> Social Security Administration, March 2014; “1.15 Crore Subscribers for National Pension System (<abbr class="spell">NPS</abbr>) as on 23.1.2016,” Indian Ministry of Finance press release, February 2, 2016; “Circular <abbr title="Number">No.</abbr> <abbr class="spell">PFRDA</abbr>/2016/19/<abbr>CORP</abbr>/4,” Pension Fund Regulatory and Development Fund, August 9, 2016; “<abbr class="spell">NPS</abbr>: <abbr class="spell">PFRDA</abbr> Lowers Minimum Contribution to <abbr title="Rupees">Rs</abbr> 1,000 per Year,” The Economic Times, August 15, 2016; <i>International Data Base</i>, <abbr>U.S.</abbr> Census Bureau, September 15, 2016.</div>
|
|
<h5 id="japan">Japan Will Implement Changes to Defined Contribution Plans</h5>
|
|
<p>The Japanese government recently passed amendments to the Defined Contribution (<abbr class="spell">DC</abbr>) Law, which will produce significant changes to Japan's system of voluntary defined contribution (<abbr class="spell">DC</abbr>) pension plans beginning January 2017. Those changes will affect plan eligibility, fiduciary responsibilities of plan sponsors, and investment rules. With the amended law expanding plan coverage to groups currently unable to participate, the government expects that the resulting increase in <abbr class="spell">DC</abbr> plan participation will improve the retirement income security of Japan's aging population. According to the Organisation for Economic Co-operation and Development, Japan's population is one of the oldest in the world, with nearly <span class="nobr">one-third</span> aged 60 or older, and retirement savings relative to population size and age remain relatively low. Only 10 percent of the working-age population of 65 million currently participates in a <abbr class="spell">DC</abbr> plan.</p>
|
|
<p>The affected voluntary <abbr class="spell">DC</abbr> plans, first implemented in 2001, fall into two categories: (1) corporate <abbr class="spell">DC</abbr> plans provided by private-sector companies for employees and (2) individual plans for employees and self-employed persons without access to a corporate <abbr class="spell">DC</abbr> plan. In the case of corporate <abbr class="spell">DC</abbr> plans, only employers were initially allowed to contribute, but this changed in 2012 when employees were also permitted to contribute. Contributions for both categories of <abbr class="spell">DC</abbr> plans are tax deductible, while investment gains are untaxed. Because of the tax-advantaged nature of the accumulated funds, withdrawals are generally only allowed once a participant reaches age 60. Participants choose investment options from a pre-selected menu of financial products offered by a financial services provider or a plan administrator (hired by the company in the case of corporate <abbr class="spell">DC</abbr> plans). Employers must provide investment education through the plan administrator. When employees change jobs, their account funds roll over into another (corporate or individual) <abbr class="spell">DC</abbr> plan.</p>
|
|
<p>The amended rules will apply to both categories of <abbr class="spell">DC</abbr> plans and will be phased in as follows:</p>
|
|
<ul>
|
|
<li>Beginning on January 1, 2017—
|
|
<ul>
|
|
<li>Restrictions on <abbr class="spell">DC</abbr> plan participation will be removed to allow contributions from nonworking spouses of employees, public-sector employees, and individuals currently covered only by private defined benefit (<abbr class="spell">DB</abbr>) plans (current restrictions prohibit participation where entitlement to a private defined benefit plan already exists);</li>
|
|
<li>The “exception rule” that currently allows <abbr class="spell">DC</abbr> plan participants with modest balances of up to 500,000 yen (<abbr class="spell">US</abbr>$821.35) to cash out if they stop working (and thus become ineligible to participate) will be eliminated.</li>
|
|
</ul>
|
|
</li>
|
|
<li>Beginning on January 1, 2018—
|
|
<ul>
|
|
<li>Contribution limits will be redefined from an annual to a monthly basis to allow for more flexible contribution arrangements.</li>
|
|
</ul>
|
|
</li>
|
|
</ul>
|
|
<p>Additional changes to corporate <abbr class="spell">DC</abbr> plans are expected—effective date(s) yet to be determined—including new restrictions on the number and type of investments offered; a reduction in employee control over the investments offered; and a requirement that plan sponsors review the service quality of <abbr class="spell">DC</abbr> plan administrators every five years. Other changes will also allow smaller employers to contribute on behalf of their employees to individual <abbr class="spell">DC</abbr> plans and permit state-sponsored retirement plans for small employers to transfer employee assets to <abbr class="spell">DC</abbr> plans.</p>
|
|
<p>At the end of 2014, there were 5.2 million members in both corporate and individual <abbr class="spell">DC</abbr> plans with total assets exceeding 7.5 trillion yen (<abbr class="spell">US</abbr>$72.3 billion). In addition to <abbr class="spell">DC</abbr> plans and employer-sponsored <abbr class="spell">DB</abbr> plans, Japan has a two-tiered public pension system that includes a <span class="nobr">flat-rate</span> plan for all residents under the National Pension program and an earnings-related plan under the Employees' Pension Insurance program.</p>
|
|
<div class="reference"><b>Sources:</b> “Taking Japan's Defined Contribution Pension Plans to the Next Level,” <i>Nomura Journal of Capital Markets</i>, Winter 2013; “Japan: Eligibility for <abbr class="spell">DC</abbr> Plans Could Be Expanded,” <i>Global News Briefs</i>, Willis Towers Watson, January 8, 2015; “Japan: Defined Contribution Act to Be Amended,” <i>Global News Briefs</i>, Willis Towers Watson, April 7, 2015; “Japan: New Legislation a Game Changer for the Defined Contribution Market,” <i>Global News Briefs</i>, Willis Towers Watson, June 9, 2016.</div>
|
|
<div class="container-blue aboutIU">
|
|
<p>For more information about social security programs in these and other countries, please see <a href="/policy/docs/progdesc/ssptw/index.html"><i>Social Security Programs Throughout the World</i></a>.</p>
|
|
<p><b><i>International Update</i></b> is a monthly publication of the Social Security Administration's (<abbr class="spell">SSA</abbr>'s) Office of Retirement and Disability Policy. It reports on the latest developments in public and private pensions worldwide. The news summaries presented do not necessarily reflect the views of <abbr class="spell">SSA</abbr>.</p>
|
|
<p>Editor: John Jankowski.<br />Writers/researchers: Ben Danforth, John Jankowski, and David Rajnes.</p>
|
|
</div>
|
|
</div>
|
|
</div>
|
|
</div>
|
|
</div>
|
|
</div>
|
|
<!-- END COLUMN, ROW, GRID, CONTENT -->
|
|
<ssa-footer class="print-hide"><noscript><footer class="footer" id="footer" role="contentinfo"><a href="/menu#footer">Footer menu</a></footer></noscript></ssa-footer><script src="https://www.ssa.gov/legacy/components/dist/ssa-footer.js"></script>
|
|
</div>
|
|
<!-- END PAGE CONTAINER -->
|
|
<!-- SSA INTERNET BODY SCRIPTS -->
|
|
<script src="/framework/js/ssa.internet.body.js"></script>
|
|
<script src="/policy/js/rspa.nav.js"></script>
|
|
<script src="/policy/js/rspa-shared.js"></script>
|
|
</body>
|
|
</html> |