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....

"In this paper the authors reconsider the idea of an earnings-related pension system with reserves invested in indexed government bonds as a mechanism to both ensure financial sustainability and improve security. They start by reviewing the characterization of the sustainable rate of return of...

There is a widespread perception that public pension systems in richer countries are in crisis. As schemes mature and the population ages, the burden of financing pensions has grown and, on current policies, will rise much further. Developing countries are younger and pension systems relatively...

Pensions refer to payment made to a person (or their dependants) after retirement. Pension systems vary across countries and no single model fits all. Generally, there is a mix of public and private pension provision. Public pensions are statutory, most often financed on a pay-as-you-go basis...

This study examines reforms to civil service pension arrangements in a number of developing countries across Africa, Asia and Latin America. These arrangements are a significant component of public-sector remuneration in many developing countries and they can carry substantial risks, not only...

The scope of this report covers 88 public and private pension funds from 39 countries. This survey is based on a qualitative questionnaire sent directly to large pension funds and public pension reserve funds. It covers the infrastructure investment made by large pension funds and public pension...

The global crisis of 2008-09 went in hand with sharp fluctuations in capital flows. To some extent, these fluctuations may have been attributable to uncertainty-averse investors indiscriminately selling assets about which they had poor information, including those in geographically distant...