The present paper reviews key issues in pension design and pension reform encountered all across the world. The paper … heavily refers to the recent U.S. Social Security reform debate in general and to the Personal Retirement Accounts proposal in … retirement. …

Pension reform is high on the policy agenda of many advanced and emerging market economies. In advanced economies the … challenge is generally to contain future increases in public pension spending as the population ages. In emerging market … economies, the challenges are often different. Where pension coverage is extensive, the issues are similar to those in advanced …

size of the welfare state. This is despite the increased political clout of the dependent population implied by the aging …

This Selected Issues paper on Chile assesses the long-term outlook of Chile’s private pension system. The paper …

The increased budget deficit caused by the privatization of a public pension plan does not imply a relaxation of the … and explicit public debt. There may be circumstances in which pension privatization, if not offset by fiscal consolidation …

This Selected Issues paper highlights that the authorities in the Republic of Korea recognize the pension policy …. Without further reforms, the public pension systems in Korea are not financially sustainable. This paper considers options for … moving to a funded first-pillar pension system. The main results show that a sustainable, funded pension system can be …

This paper evaluates the macroeconomic and welfare effects of extending the averaging period used to calculate pension … those increasing the retirement age under alternative tax policies. The analysis is based on a model in the Auerbach …-Kotlikoff tradition applied to the Spanish economy. Without reforms, the simulations suggest that aging-related spending as a share of …