Whither systemic reform? A critical review of the literature on the distributional and income adequacy effects of systemic pension reforms

What is the relationship between the introduction of defined-contribution accounts into public pension systems and changes in elderly poverty and income inequality?*** The present study examines the current state of knowledge with regard to these relationships. The study is divided into four parts: 1) an overview of data indicating that elderly poverty began to rise at least in developed economies in recent years; 2) a discussion of a body of conceptual and empirical studies that suggests definedcontribution accounts will adversely impact elderly poverty and income inequality; 3) a review of confounding factors that make it difficult to project the direction of such relationships; 4) suggestions for future research.