The value of funded pensions can depend critically on the funds' investment performance. To try and protect people's savings, governments often regulate pension funds strictly, particularly when contributions are mandatory. For example, the new funded pension systems in Latin America and Eastern...

The report, Bulgaria: Ensuring Pension System Sustainability Pension Reform Policy Note was written in September 2009. The report states that the Bulgarian pension system has undergone significant and well designed reform in 2000-2003. However, attempts to restore financial self-sustainability...

This note attempts to describe the pension system in Belarus including its fiscal performance, redistributive aspects benefit levels and benefit eligibility conditions. The note also discusses the challenging demographic environment which Belarus pension system is expected to face in the future...

In response to prolonged recession, in April 2010 the Croatian Government adopted an Economic Recovery Program to safeguard macroeconomic stability and support faster recovery of the private sector. A central element of the program is comprehensive overhaul of the pension insurance system to...

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 Government of Djibouti has committed to reform its pension system in order to restore financial sustainability and improve management. To this end, it requested the World Bank to elaborate a pension reform strategy that identifies the major financial and institutional constraints facing the...

This report examines the current system of old age income security in Sri Lanka to determine whether it provides reasonable pension for retirees. It also explores the effects of the current system on labor market mobility and the fiscal deficit and looks at the potential for establishing greater...

Old age income security in Korea is at a crossroads. The traditional system of family support is giving way to formal retirement savings--most of it mandated by government. Government employees and private school teachers are obliged to participate in special occupational schemes that operate on...

At the request of the Palestinian Authority (PA), the status of pension schemes in the West Bank and Gaza was reviewed, and a technical analysis of the two civil service schemes was undertaken. A Technical Appendix reports in detail on projections of the financial status of the civil service...

At the request of the Palestinian Authority (PA), the status of pension schemes in the West Bank and Gaza was reviewed, and a technical analysis of the two civil service schemes was undertaken. A Technical Appendix reports in detail on projections of the financial status of the civil service...