The Colombian pension reform of 1994 introduced a privately administered defined-contribution programme, which coexists with a reformed public defined-benefit programme. This paper gives an overview of the Colombian pension system and evaluates its performance using four criteria: (1)...

We describe the current state and recent trends in the landscape of social security programs in China, Mexico, and India. A common thread across these countries is the introduction and recent expansion of old-age pension programs with noncontributory components. We use surveys from the...

How does retirement influence subjective well-being? Some studies suggest retirement does not affect subjective well-being or may improve it. Others suggest it adversely affects it. This paper aims at advancing our understanding of the effect of retirement on subjective well-being by (1) using...