Many pension schemes mandated by governments have accumulated large reserves. The management of these funds has a direct effect on financial sustainability, and potential benefit levels. It also has important indirect effects on the overall economy when the funds are large. Part I of this study...

This paper asserts that the disability insurance system in Chile is much less well-known than the pension part, but it is equally innovative. It differs from traditional public disability insurance in two important ways: 1) it is largely pre-funded--through the accumulation in the retirement...