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...

With declining fertility and rising life expectancy, the Vietnamese population is expected to age rapidly, making the development of a modern social security system a pressing priority for Vietnam. The current system faces a number of major challenges, including low coverage rates in both the...

The World Bank Pension Reform Primer aims to provide a comprehensive toolkit for policy makers on designing and implementing pension reform. It is based on continuously updated information from countries that have introduced reforms emphasizing the role of privately-managed individual retirement...

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....

This edition of the Pension Reform Primer examines the global trend in early retirement among rich and poorer countries, the reasons for people retiring early, the burden of early retirement on the pension system, recent policy initiatives to promote employment of older workers, and people's...