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  1. Documents and publications

Self-insurance against natural disasters: the use of pension funds in Pacific island countries


Documents and publications
Author(s)
Guo, Si; Narita, Futoshi
Source
International Monetary Fund
Publication Year
2018
Number of pages
22 p.

Pacific island countries are exposed to significant risks from natural disasters. As a disaster relief measure, Fiji allowed pre-retirement pension withdrawls in the wake of Cyclone Winston in 2016. Motivated by this policy action, this paper provides a normative analysis of the use of early pension withdrawals after disasters, by setting up a life-cycle saving model with myopic households facing large natural disaster shocks. The model demonstrates the key trade-off between building up sufficient retirement savings and ensuring the access to savings against natural disaster shocks, and sheds light on welfare implications of early pension withdrawals.

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Related links
World social security report 2010/11: providing coverage in times of crisis and beyond
Using adaptive social protection to cope with crisis and build resilience
Strengthening resilience through social protection programs: guidance note
Keywords
Themes
Recovery
Governance
Social Impacts & Social Resilience
Small Island Developing States (SIDS)
Country & Region
Fiji
Kiribati
Marshall Islands
Micronesia, Fed States of
Samoa
Solomon Islands
Tonga
Vanuatu

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