Pension reform is spreading around the globe, from Latin America to the OECD countries, and major reform projects are being discussed in many other developing, transition, and OECD countries. The authors survey current research issues and country experiences related to old-age social security...

This paper argues that it is important to take into account unfunded public pension liabilities as part of an assessment of the overall fiscal situation, including the fiscal positions of pension schemes pre and post reforms. It examines the concept of the implicit pension debt (IPD) and...

The pension reform in Kazakhstan was instituted to remove a deteriorating, and costly pay-as-you-go (PAYGO) system with limited liabilities, a relatively low worker to pensioner ratio, and accumulating pension arrears. Analysis was conducted to assess whether the economy could sustain a radical...

Population ageing will impose a significant burden on European fiscal balances, in particular through pay-as-you-go pension systems. This study presents an independent estimate of this burden for the euro area, and quantifies the impact of two reform scenarios. Based on widely used, but...

Because of better health and higher standards of living, people are living longer. By 2030, more than 16 percent of the world's population will be older than 60, compared with 9 percent today. As a result, pension systems will need reform. Most current systems have substantial unfunded...

The authors provide a detailed study of the Swiss pension system, analyzing its strengths and weaknesses. The unfunded public pillar is highly redistributive. It has near universal coverage, a low dispersion of benefits (the maximum public pension is twice the minimum), and no ceiling on...

The former communist countries in Eastern Europe and Central Asia (EECA) are undertaking their second great social experiment of the century: the transition from authoritarian central planning to a market economy. One of the many problems they face during the transition is what to do with their...

The author analyzes the typical model for regulating investments in private pension funds. Pension reforms like those pioneered by Chile are being initiated or considered in Argentina, Bolivia, China, Colombia, Costa Rica, Hungary, Mexico, Peru, Uruguay, and elsewhere. Such reforms greatly...

The author summarizes the major findings and recommendations in Averting the Old Age Crisis, describing problems in traditional pension systems and proposals for reform. Then she describes how those reforms are being implemented in many countries and examines empirical evidence about pension...

The Costa Rican Social Insurance Fund - the country's main social security institution - was established in 1941 to provide compulsory social insurance coverage for employees, through old-age, disability, and survivor pensions, as well as sickness and maternity benefits. The current status of...