"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...

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....

"Far-reaching changes in the regulation of financial markets and the organization of public pensions in the 1980s and 1990s transformed the landscape for retirement products in Sweden. First, banking and insurance were extensively deregulated in the 1980s, while the securities markets...

This report lays out a strategy for Ukraine to make the transition to a market economy in the social sectors, taking into account the widespread system of benefits and the high spending on education and health inherited from the former Soviet Union. A central part of this strategy is the need to...

The issue of the retirement age is fundamentally linked to policies on social protection. It is an issue that inevitably causes debate and has proponents, men and women, who argue on both sides. During preparation of the gender equality law in Vietnam, several options were presented for changing...