While Thailand's pension system is typically described as a multipillar pension scheme, its design is highly fragmented and offers adequate coverage only to a small segment of the population, including civil servants and high-income individuals. In its 2018 Article IV report, the IMF highlighted...

Since the introduction of the KiwiSaver scheme in New Zealand in 2006, several countries have implemented, or are in the process of implementing, voluntary funded pension systems with automatic enrollment features. Since most of the literature has focused on countries with the common law...

This paper analyzes the impact of aging on capital accumulation and welfare in a country with a sizable unfunded social security system. Using a two-period overlapping generation model with endogenous retirement decisions, the paper shows that the type of aging and the type of unfunded social...

This report illustrates a new methodology to develop an Outcomes and Risk Based Supervision (ORBS) framework for funded pensions with a case study of Costa Rica. The approach was used in a FIRST1 funded project in Costa Rica with the regulator and supervisor of pensions SUPEN. The intention is...

This paper reviews the design of private pensions alongside a notional defined contribution (NDC) - or public - component. A mix of public and private pensions is the bestway to deliver a strong combination of five core outcomes: coverage, adequacy,sustainability, efficiency, and security....

All UK employers now offer a pension scheme including the use of automatic enrollment. More than 9 million people have started saving into a workplace pension as a consequence. NEST is a pension scheme that any employer can use to meet its auto enrollment obligations. It was set up to serve...

Greece's current pension system relies almost exclusively on the state and remains staunchly pay-as-you-go (PAYG) and defined benefit (DB). This paper offers a radical proposal for change: (i) a new multi-pillar notional and financial defined contribution (NDC and FDC) pension system for all...

Nonfinancial defined contribution (NDC) schemes offer governments desirable properties in terms of efficiency, fairness, and financial sustainability and an opportunity to deflect the blame for pension cuts. Yet adoptions of NDC schemes largely ground to a halt and several countries retreated...

This report evaluates the adequacy and sustainability of the Mongolian pension insurance scheme. It analyzes recent changes to pension parameters including amendments enacted in 2017 and early 2018. The report uses actuarial projections to assess the impact of changes, including the contribution...