The book has a comprehensive introduction and two main parts. Part I presents the conceptual underpinnings for the Bank's thinking on pension systems and reforms, including structure of Bank lending in this area. Part II highlights key design and implementation issues where it signals areas of...

China is at a critical juncture in its economic transition. A comprehensive reform of its pension and social security systems is an essential element of a strategy aimed toward achieving a harmonious society and sustainable development. Among policy makers, a widely held view is that the...

Establishing robust, equitable, and effective social protection is essential to reducing poverty and boosting prosperity at all levels of development. The demographic transition that has already transformed most high-income societies will exert similar and growing pressures on others,...

Since the early 1990's the World Bank has utilized the multi-pillar framework as a model for the design and evaluation of pension systems. This model is derived from the principle that the primary functions of pension systems, (poverty alleviation, consumption smoothing and insurance) are most...

Since the early 1980s, the structure of arrangements to provide retirement income has gradually moved from defined benefit (DB) systems to various types of arrangements in which the provision of pensions is backed by assets, either in individual accounts or in collective schemes. This change has...

Este informe aclara y actualiza la perspectiva del Banco Mundial acerca de la reforma de pensiones, incorporando las lecciones aprendidas de la experiencia reciente y de la investigacion, las cuales han permitido avanzar en la comprension acerca de la mejor manera de proceder en el futuro. El...

The international financial crisis has severely affected the value of pension fund assets worldwide. The unfolding global recession will also impose pressures on public pension schemes financed on a pay-as-you-go basis, while limiting the capacity of governments to mitigate both of theses...