Population aging and last decade economic circumstances are the factors the pension systems should overcome for maintaining either appropriate level of benefit amount for decent life in the developed countries or minimum subsistence allowances in developing and poor countries, hence many public...

Prefunding of pension commitments in OECD economies is increasingly seen as a central strategy to cope with the aging of their populations. This paper argues that investments in emerging markets can help at the margin but are unable to solve the demographic problem. While these investments bring...