Three-pillar System Research Articles

Building a digitalised society: Opportunities and challenges of Austria’s three-pillar system of digital education

In 2016 the Austrian Federal Ministry of Education, Science and Research initiated a network that combined all projects related to education and the digital agenda, called eEducation. The aim of the network, membership of which is free, is to help schools develop their digitalisation concepts. It distributes yearly funds for further teacher education to schools based upon their development level within the network. All central strategies related to digital developments are coordinated with the network. Two annual conferences help educators connect and exchange thoughts on using digital media in classroom work. eEducation is based at the University of Education in Upper Austria. Recent developments, notably the digi.case initiative in primary schools and the eight-point action plan, have achieved a good coverage and acceptance within the teaching community. Digital reference frameworks such as the European DigCompEdu and DigComp as well as national frameworks such as digi.komp4, 8, 12 and P are used for assessment purposes for both students and teachers. The new compulsory subject ‘Basic Digital Education’ has been introduced in 2022 for lower secondary schools (levels 5 to 8), based on an initiative for further teacher qualification which is offered by the Universities of Education throughout Austria. Teaching this subject involves using a competency-based concept that combines knowledge about how technology works but also what this means to the individual and society. All lower secondary schools in Austria participating in the device initiative as part of the eight-point action plan were able to choose the technological base; further teacher education is being undertaken related to the specific settings of each school. Financing is provided by the Federal Ministry. The eEducation network focuses on strengthening the digital skills of teachers to enable them to use digital media during classroom work, which also helps to develop digital competences of students. Organisational development is also taken into consideration by providing tools to develop digitalisation concepts. State coordinators of eEducation are part of the network and give feedback and support to schools. The Johannes Kepler University Linz is monitoring the developments of both the network and national digital strategies and publishes research findings. The overall purpose of all these initiatives is to build a well-established structure of a digitalised society in Austria.

Analiza rada dobrovoljnih penzijskih fondova u Srbiji u 2022. godini

The topic of this paper is the analysis of voluntary pension funds in Serbia in 2022 with the emphasis on the return rate. Introduction of private voluntary pension funds together with the state pension fund is the essence of the pension system reform, and that reform process began in 2005. Generally accepted pension system is a three-pillar system, but introduction of the second pension pillar in our country will not happen anytime soon, and the question is whether it will be introduced at all. The third pillar of the pension system is voluntary and this is its greatest advantage. Voluntary pension system consists of three interconnected processes: payments to the voluntary pension fund, investment of free funds, and programmed payments - pensions. In order to form a valid investment portfolio and achieve a long-term and good return from investments there must be a stable inflow into voluntary pension funds.

Current Situation and Suggestion of Three Pillar System of Endowment Insurance in China

Since 1991, China implemented the reform of the old age insurance system for urban enterprise employees, the work of establishing a multi-level old-age insurance system has been carried on continuously, and the three-pillar old-age insurance system is developing vigorously. By introducing the development process of China's pension insurance, this paper analyzes the construction process of the three-pillar system, and combined with the current background of China's aging population, puts forward the problems existing in the system, and gives corresponding suggestions, so as to promote the improvement and development of the three-pillar system of pension insurance, and improve China's comprehensive pension capacity.

The truth and dispute in TNM staging, standardized care and evidence-based medicine in cancer management

Current clinical management of cancer is based on a three-pillar system: TNM staging, standardized care and evidence-based medicine. Together, they support the entire system of cancer management. In the system, there are more than 30 million cancer patients, more than a million medical workers taking care of these patients, and millions more research scientists looking for ways to conquer cancer, the emperor of all maladies. Everyone in this system is supposed to follow a number of principles derived from these three pillars. The net result, after decades of building and polishing, is the presence of a global system with massive infrastructure, advanced technologies, tremendous funding, monopolized discoursing platform of public opinion and talented people, all together to strengthen the few principles derived from the three pillars. It is almost impossible to doubt or challenge the correctness and usefulness of these three pillars and thus the principles derived from them, less to say to replace them with something different. Yet going back the history of these pillars, one may ask some very reasonable questions about their correctness. For example, patients with the same TNM staging do not have similar clinical outcome when treated by the same therapy. If they are same, why they respond differently to the same therapy? And if they are truly different, why are they treated by the same therapy? What makes the difference among them? What do results from clinical trials comparing groups of different patients really mean? Evidence-based medicine emphasizing “evidence”, but there is no evidence to show that putting every one with similar TNM staging to the same treatment plan is the best option for them. Medicine, like other branches of science, should emphasize reasoning, but this has not been the case in cancer management in which one only needs to pay attention to data but not why it is the way it is. On the other hand, we have findings from animal tumor models translated to clinical study in a totally unmatched way in which findings from individualized animal model are translated to a mixed group of patients. This always yielded failures. There is nothing wrong to do individualized research in human cancer patients as long as we realize its limitation and applicability to other cases. With this approach, we have accumulated some very interesting observations, developed some reliable principles from these individualized studies and have put these principles into a novel guiding system that helps to derive individualized treatment plans for any patient at any stage in their disease course. Here we present logic arguments that the three pillars of the current clinical practice in cancer management have severe shortcomings that need to be replaced with a more reasonable and individualized management system.

The truth and dispute in TNM staging, standardized care and evidence-based medicine in cancer management

Current clinical management of cancer is based on a three-pillar system: TNM staging, standardized care and evidence-based medicine. Together, they support the entire system of cancer management. In the system, there are more than 30 million cancer patients, more than a million medical workers taking care of these patients, and millions more research scientists looking for ways to conquer cancer, the emperor of all maladies. Everyone in this system is supposed to follow a number of principles derived from these three pillars. The net result, after decades of building and polishing, is the presence of a global system with massive infrastructure, advanced technologies, tremendous funding, monopolized discoursing platform of public opinion and talented people, all together to strengthen the few principles derived from the three pillars. It is almost impossible to doubt or challenge the correctness and usefulness of these three pillars and thus the principles derived from them, less to say to replace them with something different. Yet going back the history of these pillars, one may ask some very reasonable questions about their correctness. For example, patients with the same TNM staging do not have similar clinical outcome when treated by the same therapy. If they are same, why they respond differently to the same therapy? And if they are truly different, why are they treated by the same therapy? What makes the difference among them? What do results from clinical trials comparing groups of different patients really mean? Evidence-based medicine emphasizing “evidence”, but there is no evidence to show that putting every one with similar TNM staging to the same treatment plan is the best option for them. Medicine, like other branches of science, should emphasize reasoning, but this has not been the case in cancer management in which one only needs to pay attention to data but not why it is the way it is. On the other hand, we have findings from animal tumor models translated to clinical study in a totally unmatched way in which findings from individualized animal model are translated to a mixed group of patients. This always yielded failures. There is nothing wrong to do individualized research in human cancer patients as long as we realize its limitation and applicability to other cases. With this approach, we have accumulated some very interesting observations, developed some reliable principles from these individualized studies and have put these principles into a novel guiding system that helps to derive individualized treatment plans for any patient at any stage in their disease course. Here we present logic arguments that the three pillars of the current clinical practice in cancer management have severe shortcomings that need to be replaced with a more reasonable and individualized management system.

How the German Pension System can benefit from insights of behavioural economics

Due to the demographic change that has been going on for several decades, the pension system in Germany is being heavily burdened. The German pension system can be described as a three-pillar system that includes not only the compulsory statutory pension insurance, but also the company pension schemes and the private pension schemes. However, the statutory pension insurance is particularly affected by the demographic crisis. The resulting declining birth rates and the rising life expectancy caused an unfavorable ratio between contributors and recipients of this system. Several pension reforms have already been introduced in Germany in order to manage this crisis, but the expected results did not occur. This article is therefore concerned with the findings of behavioral economics and what solutions it gives for this problem. In addition, a reform concept for Germany with behavioral economic elements is presented — “Deutschlandrente”.

The Portfolio Decisions for Assets with Varying Returns over Time and Labor Income

We will try to expand the analysis of assets including labor income in the decisions regarding the accumulation of assets and their allocation. This refers to pension funds and retirement income. Many issues arise in this context. We need to clarify whether future obligations can be covered by contributions from labor income and assets; what fraction of the income must be saved in order to obtain sufficient retirement income; there will be sufficient income and income from pensions at the complete retirement stage; to what extent retirement funds should be engaged in risky assets or which are the relevant factors that determine the upward or downward evolution of assets and the dispersion of capital. The issues mentioned are of a complex political and financial nature. As regards pension and pension funds, in many countries, the tendency is to establish a three-pillar system for pension income: first, a social security system, secondly, a pension fund. related to work and thirdly, a private pension fund. For most of these pillars, saving on labor income, in addition to capital income, has become an important element. Both help reduce the risk and increase the pension income. As we will see, income from work is also important for the problem of wealth growth. This aspect suggests several directions regarding the design of pension funds, as well as the saving and portfolio decisions regarding labor income. Portfolio studies that include labor income are rare. It was emphasized that financial theory should not be used primarily to "hit the market" but to contribute to raising the capital of households. Fund management should be primarily a dynamic diversification, provide provisions against adverse shocks and ensure the accumulation of sufficient wealth for future periods. Traditional mutual funds, as well as insurance schemes and publicly supported pension funds are management tools that address these issues. However, one also needs well-regulated financial institutions to help serve what the financial theory has actually proposed: serving individuals and households with assets and labor income to provide sufficient pension and temperance funding. adverse shocks.

The Serbian pension system in transition: A silent break with Bismarck

The pension system in Serbia was set up as Bismarckian earnings related system almost one hundred years ago. At the outset of the transition process at the beginning of 21st Century, the pension system underwent bold reforms. Despite suggestions from the World Bank to adopt a three-pillar system that would involve a break with the Bismarckian heritage, reforms concentrated on parametric adjustments that strengthened the link between previous earnings and pension benefits. However, as this paper shows, the Bismarckian earnings-related system has subsequently been silently challenged. On the basis of an analysis of the current and perspective replacement rates for various earning levels and pension variation indicators, we show how the contributions/ benefit link has been undermined. These policy changes have not been defined or understood as a new strategic course of action, nor have the strategic options been debated and analysed. These silent reforms have seemed to be a ?quick and easy? solution to tackle high public expenditures and deficits without understanding their implications, and that breaking up with Bismarck implies significant transition costs.

Are Dutch Old-Age Pensions Taxed Fairly and Efficiently?

The Dutch pension system is internationally top-ranked as a well-designed three-pillar system. Moreover, almost all forms of pension benefits are expenditure taxed in line with the European Commission’s recommendations. Consequently, the Dutch pension policy approach could be regarded as a welcome blueprint for pension policy reform, currently on the agenda of all EU member countries. This paper focuses on the taxation of Dutch pensions and identifies two classes of problems that challenge the suitability of deferred pension taxation. First, cash flow taxation of pensions erodes the tax equity objectives of a progressive income tax. Second, deferred pension taxation generates a double fairness dilemma in a world with free cross-border migration and double taxation treaties in accordance with the OECD Model Tax Convention. The paper argues that these problems, as well as other minor problems in Dutch pension taxation, could be solved by replacing the Netherlands’ current system of deferred income taxation of pensions with a frontloaded expenditure tax system.

Financing Long-term Care: Some Ideas From Switzerland Comment on "Financing Long-term Care: Lessons From Japan".

Ikegami reviews the implementation of mandatory long-term care insurance systems in Germany and Japan, which are organized as pay-as-you-go systems. I propose to go one step further and implement a multi-pillar, mandatory and voluntary long-term care financing system, which combines pay-as-you-go with capital-funded elements. The proposal is based on the observation that Switzerland has implemented a three-pillar system for financing retirement provisions that can be adapted to finance long-term care in a fair and sustainable way.

Insights from Switzerland's Pension System

This chapter takes Switzerland’s much praised three-pillar system to illustrate some of the challenges reforms to pension systems face in an aging society. It shows that policymakers are confronted by some individuals with behavioral anomalies and by others who strategically exploit the system. The trade-off between providing incentives and adequate retirement income limits policy options, especially if reformers do not want to impose too many restrictions on individual choice and wish to avoid excessive burdens on the young generation. Pension reforms can also be seriously challenged by political constraints, in particular, when voters have a direct say on proposed changes.

The Main Challenges and Risks for Social Security Systems in the European Union: The Essence of Reforms in Hungary After 2010

In all Member States social security systems are used to help secure social goals such as protection against poverty. In the majority of European Union (EU) countries public schemes also play a core role in securing levels of pension benefits and health services that to a reasonable degree allow people to maintain the living standards from their active years into retirement. After 2010 the objective of comprehensive pension reform in Hungary was to return to the two-pillar pension system, based on social solidarity on the one hand and voluntary contributions on the other, which is in place in eighteen EU Member States, from the former Hungarian three-pillar system which is hopelessly threatening the budget balance, and is financially unviable in the short, medium and long run. Having accomplished this transformation, the government is committed to maintaining and supporting voluntary private pension funds parallel to the state-run social security pension pillar. In the second half of 2010, as a result of the world economic crisis and the restriction measures linked to it, a major crisis evolved which required a series of immediate measures from the new Hungarian government formed in that year. How did the new government manage to consolidate the Hungarian pension system? You can find more details in this article.

The Main Challenges and Risks for Social Security Systems in the European Union. The Essence of Reforms in Hungary After 2010

In all Member States social security systems are used to help secure social goals such as protection against poverty. In the majority of European Union (EU) countries public schemes also play a core role in securing levels of pension benefits and health services that to a reasonable degree allow people to maintain the living standards from their active years into retirement. After 2010 the objective of comprehensive pension reform in Hungary was to return to the two-pillar pension system, based on social solidarity on the one hand and voluntary contributions on the other, which is in place in eighteen EU Member States, from the former Hungarian three-pillar system which is hopelessly threatening the budget balance, and is financially unviable in the short, medium and long run. Having accomplished this transformation, the government is committed to maintaining and supporting voluntary private pension funds parallel to the state-run social security pension pillar. In the second half of 2010, as a result of the world economic crisis and the restriction measures linked to it, a major crisis evolved which required a series of immediate measures from the new Hungarian government formed in that year. How did the new government manage to consolidate the Hungarian pension system? You can find more details in this article.

Social insurance ideas in the People’s Republic of China: A historical and transnational analysis

AbstractThis article provides a historical analysis of the transnational diffusion of social insurance ideas in the People’s Republic of China (1949–present). Based on rich primary documents, this article argues that China’s social insurance policies in the 1950s were heavily influenced by Soviet ideas and institutions of social insurance, which were nevertheless abandoned with the prevailing of Mao’s ideas of “continuing revolution” in the 1960s and 1970s. After China reopened to the world in the late 1970s, China’s social security reforms were first influenced by social insurance ideas of the International Labor Organization (ILO) in the 1980s, then by neoliberal social security models (Singapore’s Central Provident Funds and the World Bank’s three-pillar system) promoted by the World Bank in the 1990s, and finally by the ideas of “social security for all” promoted by the ILO in the new century.

Germany: Financial Sector Assessment Program-Crisis Preparedness, Bank Resolution and Crisis Management Frameworks-Technical Notes

This paper analyzes the crisis preparedness and crisis management frameworks for German banks. Banks dominate German financial system and represent one of the largest small- and medium-sized banking segments in the EU. The banking sector is a three-pillar system with a total of nearly 1,800 institutions. Both at the EU level and at domestic German level a range of legal instruments have been adopted that collectively establish a complex framework for bank resolution and crisis preparedness and management in financial sector. The Single Supervisory Mechanism Regulation has conferred specific tasks on the European Central Bank concerning prudential supervision of banks including the adoption of early intervention measures and a requirement that banks prepare recovery plans.

Major pension fund reform in the Czech Republic: Creating a three-pillar system

This article examines forthcoming pension fund reform in the Czech Republic. It does so in the context of the reforms that have happened in other Central and Eastern European countries. It analyses the new mandatory funded pillar and, in particular, the choices that different sections of the Czech population will have to make regarding the pillar, the contributions that will be paid to this pillar and the different types of account that will be made available. The article also analyses the changes to the voluntary pillar and, in particular, who can participate in such arrangements. The article further evaluates how funds will be established and administered, the bodies that will undertake this, the capitalisation of such bodies and where they will be entitled to invest fund assets. Finally, it examines the tax treatment of funds and the opportunities that will arise for financial institutions in relation to this sector.

Dynamic and Static Strategies for the Funded Pillar of the Slovak Pension System

Since January 2005, pensions in Slovakia are operated by a three-pillar system proposed by the World Bank. The paper discusses and mathematically captures principles of the pension reform in Slovakia. We also discuss the impact of the reform on the deficit of the pension system. We mainly focus on the mandatory, fully funded second pillar. We present a dynamic decision model for determining the optimal switching strategy between pension funds with different risk profiles. The resulting strategies depend on individual risk preferences of future pensioners. Our results illustrated the fact that gradual decreasing of the risk during the saving for future pension is rational. Moreover, it is shown that dynamic decision strategies outperform the static ones.

How to change other people's institutions: discursive entrepreneurship and the boundary object of competition/competitiveness in the German banking sector

The paper explores recent public debates about the structure of the financial system in Germany. It pays particular attention to their symbolic-strategic dimension, that is, to attempts by several institutional entrepreneurs to reformulate the criteria of organizational legitimacy, concentrating on the sense-making and legitimization processes involved in institutional persistence or change. The paper discourse-analyses a campaign by institutional entrepreneurs – mainly representatives of commercial banks – who attempted to homogenize the criteria of organizational legitimacy in the German banking sector by questioning the fundamentals of the three-pillar system and the non-commercial banks. Institutional entrepreneurs are understood as discursive entrepreneurs whose actions refer to institutionalized generalizations of value. In the case of the financial sector in Germany, it was the generalized value of competition/competitiveness that served as a discursive device to legitimize the attempts of commercial banks to alter the institutional structure.

Structures and Trends in German Banking

In this paper, we investigate the claim that German banks are special compared to banks in other industrialised economies. We show that banks are of particular importance to the German economy - as financial intermediary, as lender to the corporate sector, and as part of the corporate governance system. Further, German banks are supervised by two supervisory institutions and have the highest deposit insurance in the world. And last but not least, German banks are numerous, perform poorly, and are part of a historically grown three-pillar system. Hence, German banks can indeed be characterised as unique when compared to other industrialised economies.

Social Security Reform Ideas in Japan

Japan has a complex social security system. This article discusses the demographic and economic situation in Japan as background for understanding the setting in which the social security system functions. Japan has a three-pillar system for retirement income. The first pillar is the social security pension plan; the second pillar is the voluntary occupational pension plan; and the third pillar is personal savings, including the personal pension plan. The most important part of the retirement income system is the social security pension plan, which paid benefits accounting for 64% of the total income of elderly households in 1998. The five Employees' Pension Plans are established on a compulsory social insurance basis. Most large Japanese employers have a mandatory retirement age. Over 90% of all employees, including public sector ones, must retire from their career jobs at age 60.