The Netherlands has been operating fully funded, defined benefit second pillar pension schemes that have consistently …-term sustainability of the Dutch pension funds has been undermined in recent years by protracted low interest rates and unfavorable … prompted a national debate over ways to move toward more individualization while preserving financial security at retirement …

capital flows, focusing on the role of the public pension system. We develop a small open economy overlapping generations … model to illustrate the channels through which demographic variables and pension system generosity interact to affect both … demographic change and pension reform. We find that the generosity of the pension system plays an important role in determining …

The macroeconomic implications of a pension reform that substitutes a high-return fully-funded system for a low …

growing advocacy of funded public pensions as part of an ideal pension system, which raises more general issues about the role … of the public sector in pension provision …

We compare the long-term output and current account effects of pension reforms that increase the retirement age with … a policy trade-off. Pension reforms that increase the retirement age have a large positive effect on output, but a small … those of reforms that cut pension benefits, conditional on reforms achieving similar fiscal targets. We show the presence of …

Several European countries are currently considering reversing parts of their pension reforms that were adopted … replicates the Ageing Report's pension expenditure projections very well. We calculate the macroeconomic impact of first the … additional pension reforms needed to contain the public debt pressures arising from population ageing and second the costs of …

This paper discusses the strategic building blocks of pension reform. The early sections set out the simple economics … conclusions for policy design from earlier theoretical discussion, set out the prerequisites which any pension reform must respect … choice over pension design is wide …

Past reforms have put the Peruvian pension system on a largely fiscally sustainable path, but the system faces … important challenges in providing adequate pension levels for a large share of the population. Using administrative microdata at … positive impact. In the medium-term, labor market reform to tackle informality, and a broad pension reform to restructure the …

model to show that because of migrants’ positive influence on the pension system, which is an important pillar of any …