Notional accounts are designed to mimic a defined contribution plan, where the pension depends on contributions and investment returns. (For this reason, they are sometimes called notional, defined-contribution schemes). Pension contributions are tracked in accounts which earn a rate of return....

A pension system is at the heart of social protection. By ensuring income security for older persons and other vulnerable groups, it prevents poverty, reduces inequality, and facilitates consumption smoothing. A pension system also affects the working population's labor market choices and has...

Mongolia inherited a pay-as-you go public pension system providing universal coverage and high levels of benefits (relative to pre-retirement income), consistent with the state provision of all forms of social insurance. The system was reformed in 1995, including the introduction of...

The transition from a wholly public, pay-as-you go pension system to one where pensions are also provided by individual, privately managed pension accounts does not directly affect those receiving pensions at the time of the reform. Nevertheless, it could affect all current and future workers. A...

The present report evaluates the Iranian pension system and proposes a series o f policy interventions to improve outreach, financing mechanisms, incentives, equity, and management. It has been prepared at the request o f the Management and Planning Organization. Given data constraints, the...

The report examines the pension system in Mauritius, a country which over the past two decades, has made enormous progress in economic development, and poverty reduction, and which today, is facing a much earlier demographic transition in its development cycle, than other upper income, and high...

This report discuses Kazakhstan's pension system reform which is nearing the completion of the sixth year of its implementation. In addition to the need to address the design and operation of the payout phase of the pension system, the report finds two main areas in which changes and refinements...