The contributors to this volume assess the impact of policies and regulations and provide detailed analysis of specific components of the pension system, including taxation, Social Security reform, hybrid plans, pension guarantees, and nondiscrimination rules

This paper suggests that the nature of the funding of defined benefit pension plans may be an important reason why personal saving has not responded positively to the high real interest rites and tax incentives to encourage saving and investment of the last few years. From a firm's standpoint,...