The Financial Crisis and Mandatory Pension Systems in Developing Countries : Short-and Medium-Term Responses for Retirement Income Systems
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...
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| Format: | Brief |
| Language: | English |
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World Bank, Washington, DC
2012
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| Online Access: | http://documents.worldbank.org/curated/en/2008/12/10106891/financial-crisis-mandatory-pension-systems-developing-countries-short-and-medium-term-responses-retirement-income-systems http://hdl.handle.net/10986/11130 |
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okr-10986-11130 |
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| recordtype |
oai_dc |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
ACCESS TO BANK ACCESS TO BANK LOANS ACCRUAL RATE ADDITIONAL FINANCING AGING POPULATIONS ANNUAL RETURN ANNUITIES ANNUITY ANNUITY PURCHASE ASSET ALLOCATIONS ASSET PRICES ASSET VALUES AVERAGE EARNINGS AVERAGE PENSION BANK LOANS BANKING SYSTEM BANKS BASIC PENSION BENEFIT FORMULAS BONDS CALCULATION CALCULATIONS CASH BALANCES CASH FLOW CLIENT COUNTRIES COMPENSATION CONTRIBUTION CONTRIBUTION RATE CONTRIBUTION RATES CONTRIBUTION SCHEMES CONTRIBUTIONS CURRENT EXPENDITURES DEBT DEBT FINANCING DEFINED CONTRIBUTION PENSIONS DEFINED-BENEFIT PENSION DEFINED-CONTRIBUTION PENSIONS DEMOGRAPHIC DEVELOPING COUNTRIES DISABILITY DISABILITY BENEFITS DIVERSIFICATION DIVERSIFIED PORTFOLIO EARLY RETIREMENT EARNINGS ECONOMIC DEVELOPMENTS ECONOMIC DOWNTURN ECONOMIC SHOCKS ECONOMIC VOLATILITY ELDERLY EMPLOYEE ENTERPRISE FINANCING EXPOSURE EXTERNAL DEBT FINANCIAL ASSETS FINANCIAL CRISIS FINANCIAL FLOWS FINANCIAL IMPACT FINANCIAL INSTITUTIONS FINANCIAL ISSUES FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL RISKS FINANCIAL SECTOR FINANCIAL SITUATION FINANCIAL SYSTEM FINANCIAL SYSTEMS FINANCIAL VOLATILITY FISCAL DEFICITS FORMAL PENSION FORMAL PENSION SYSTEM FULL-CAREER WORKERS FUND ASSETS FUNDED ACCOUNT FUNDED PENSIONS FUNDED SCHEME FUNDED SCHEMES FUNDED SYSTEMS GOVERNANCE STANDARDS GOVERNMENT DEBT GROWTH RATE GUARANTEED BENEFIT HUMAN DEVELOPMENT INDIVIDUAL ACCOUNT INDIVIDUAL ACCOUNTS INDIVIDUAL SAVINGS INSTITUTIONAL INVESTORS INTERNATIONAL FINANCIAL CRISIS INVESTMENT BANKS INVESTMENT RETURNS INVESTMENT RISK LABOR FORCE LABOR MARKET LIABILITY LIFETIME LIQUIDATION LOAN LOAN MARKETS LONG-TERM PLANNING LOW INCOME LOW-INCOME LOW-INCOME WORKERS LOWER-INCOME WORKERS MACROECONOMIC RISKS MANDATORY PENSION FUNDS MARK-TO-MARKET MARKET RISKS MARKET VALUATION MARKET VOLATILITY MATURITY MINIMUM PENSION MINIMUM PENSIONS MULTI-PILLAR PENSION SYSTEM MULTI-PILLAR PENSION SYSTEMS MULTI-PILLAR SYSTEM MULTIPILLAR SYSTEMS NORMAL RETIREMENT AGE OLDER WORKERS OPPORTUNITY COSTS PAY AS YOU GO PAY AS YOU GO SYSTEM PAY-AS-YOU-GO PENSION SYSTEMS PAY-AS-YOU-GO SYSTEMS PENSION PENSION BENEFIT PENSION BENEFITS PENSION EXPENDITURES PENSION FUND PENSION FUND ASSETS PENSION FUND RETURNS PENSION FUNDS PENSION LIABILITY PENSION MARKETS PENSION PAYMENTS PENSION REFORM PENSION REFORM PRIMER PENSION SYSTEM PENSION SYSTEMS PENSION WEALTH PENSION-SCHEME PENSIONS POLICY RESPONSES PORTFOLIOS PRICE MOVEMENTS PRIVATE PENSIONS PUBLIC INFORMATION CAMPAIGN PUBLIC PENSION PUBLIC PENSION SCHEMES PUBLIC POLICIES PUBLIC SCHEMES RATE OF RETURN RECESSION REGULATORS REPLACEMENT RATES RESERVE RESERVE FUND RESERVES RETIREES RETIREMENT RETIREMENT AGE RETIREMENT BENEFIT RETIREMENT BENEFITS RETIREMENT INCOME RETIREMENT INCOME SYSTEMS RETIREMENT INCOMES RETIREMENT SAVINGS RETIREMENT SYSTEM RETIREMENT SYSTEMS RETIREMENT-INCOME RETIRING WORKERS RISK MANAGEMENT SALARIES SAVINGS SAVINGS ACCOUNTS SOCIAL INSURANCE SOCIAL INSURANCE CONTRIBUTIONS SOCIAL INSURANCE SYSTEM SOCIAL PENSION SOCIAL PENSIONS SUPERVISION OF PENSION FUNDS SUPPORT PROGRAM TRANSPARENCY UNEMPLOYMENT UNFUNDED PENSION VALUATION VALUE OF PENSION WAGE WILL WITHDRAWAL |
| spellingShingle |
ACCESS TO BANK ACCESS TO BANK LOANS ACCRUAL RATE ADDITIONAL FINANCING AGING POPULATIONS ANNUAL RETURN ANNUITIES ANNUITY ANNUITY PURCHASE ASSET ALLOCATIONS ASSET PRICES ASSET VALUES AVERAGE EARNINGS AVERAGE PENSION BANK LOANS BANKING SYSTEM BANKS BASIC PENSION BENEFIT FORMULAS BONDS CALCULATION CALCULATIONS CASH BALANCES CASH FLOW CLIENT COUNTRIES COMPENSATION CONTRIBUTION CONTRIBUTION RATE CONTRIBUTION RATES CONTRIBUTION SCHEMES CONTRIBUTIONS CURRENT EXPENDITURES DEBT DEBT FINANCING DEFINED CONTRIBUTION PENSIONS DEFINED-BENEFIT PENSION DEFINED-CONTRIBUTION PENSIONS DEMOGRAPHIC DEVELOPING COUNTRIES DISABILITY DISABILITY BENEFITS DIVERSIFICATION DIVERSIFIED PORTFOLIO EARLY RETIREMENT EARNINGS ECONOMIC DEVELOPMENTS ECONOMIC DOWNTURN ECONOMIC SHOCKS ECONOMIC VOLATILITY ELDERLY EMPLOYEE ENTERPRISE FINANCING EXPOSURE EXTERNAL DEBT FINANCIAL ASSETS FINANCIAL CRISIS FINANCIAL FLOWS FINANCIAL IMPACT FINANCIAL INSTITUTIONS FINANCIAL ISSUES FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL RISKS FINANCIAL SECTOR FINANCIAL SITUATION FINANCIAL SYSTEM FINANCIAL SYSTEMS FINANCIAL VOLATILITY FISCAL DEFICITS FORMAL PENSION FORMAL PENSION SYSTEM FULL-CAREER WORKERS FUND ASSETS FUNDED ACCOUNT FUNDED PENSIONS FUNDED SCHEME FUNDED SCHEMES FUNDED SYSTEMS GOVERNANCE STANDARDS GOVERNMENT DEBT GROWTH RATE GUARANTEED BENEFIT HUMAN DEVELOPMENT INDIVIDUAL ACCOUNT INDIVIDUAL ACCOUNTS INDIVIDUAL SAVINGS INSTITUTIONAL INVESTORS INTERNATIONAL FINANCIAL CRISIS INVESTMENT BANKS INVESTMENT RETURNS INVESTMENT RISK LABOR FORCE LABOR MARKET LIABILITY LIFETIME LIQUIDATION LOAN LOAN MARKETS LONG-TERM PLANNING LOW INCOME LOW-INCOME LOW-INCOME WORKERS LOWER-INCOME WORKERS MACROECONOMIC RISKS MANDATORY PENSION FUNDS MARK-TO-MARKET MARKET RISKS MARKET VALUATION MARKET VOLATILITY MATURITY MINIMUM PENSION MINIMUM PENSIONS MULTI-PILLAR PENSION SYSTEM MULTI-PILLAR PENSION SYSTEMS MULTI-PILLAR SYSTEM MULTIPILLAR SYSTEMS NORMAL RETIREMENT AGE OLDER WORKERS OPPORTUNITY COSTS PAY AS YOU GO PAY AS YOU GO SYSTEM PAY-AS-YOU-GO PENSION SYSTEMS PAY-AS-YOU-GO SYSTEMS PENSION PENSION BENEFIT PENSION BENEFITS PENSION EXPENDITURES PENSION FUND PENSION FUND ASSETS PENSION FUND RETURNS PENSION FUNDS PENSION LIABILITY PENSION MARKETS PENSION PAYMENTS PENSION REFORM PENSION REFORM PRIMER PENSION SYSTEM PENSION SYSTEMS PENSION WEALTH PENSION-SCHEME PENSIONS POLICY RESPONSES PORTFOLIOS PRICE MOVEMENTS PRIVATE PENSIONS PUBLIC INFORMATION CAMPAIGN PUBLIC PENSION PUBLIC PENSION SCHEMES PUBLIC POLICIES PUBLIC SCHEMES RATE OF RETURN RECESSION REGULATORS REPLACEMENT RATES RESERVE RESERVE FUND RESERVES RETIREES RETIREMENT RETIREMENT AGE RETIREMENT BENEFIT RETIREMENT BENEFITS RETIREMENT INCOME RETIREMENT INCOME SYSTEMS RETIREMENT INCOMES RETIREMENT SAVINGS RETIREMENT SYSTEM RETIREMENT SYSTEMS RETIREMENT-INCOME RETIRING WORKERS RISK MANAGEMENT SALARIES SAVINGS SAVINGS ACCOUNTS SOCIAL INSURANCE SOCIAL INSURANCE CONTRIBUTIONS SOCIAL INSURANCE SYSTEM SOCIAL PENSION SOCIAL PENSIONS SUPERVISION OF PENSION FUNDS SUPPORT PROGRAM TRANSPARENCY UNEMPLOYMENT UNFUNDED PENSION VALUATION VALUE OF PENSION WAGE WILL WITHDRAWAL Dorfman, Mark Hinz, Richard Robalino, David The Financial Crisis and Mandatory Pension Systems in Developing Countries : Short-and Medium-Term Responses for Retirement Income Systems |
| relation |
World Bank Pension Reform Primer Series |
| description |
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 effects. Governments
are reacting to these events in different ways. Some are
asking whether the balance between funded
defined-contribution and unfunded pension schemes should be
reconsidered. A few have already taken actions to reverse
prior reforms. This note discusses the potential impacts of
the financial crisis on fully funded and pay-as-you-go
retirement-income systems in World Bank client countries,
and identifies key short-and medium-term policy responses. |
| format |
Publications & Research :: Brief |
| author |
Dorfman, Mark Hinz, Richard Robalino, David |
| author_facet |
Dorfman, Mark Hinz, Richard Robalino, David |
| author_sort |
Dorfman, Mark |
| title |
The Financial Crisis and Mandatory Pension Systems in Developing
Countries : Short-and Medium-Term Responses for Retirement Income Systems |
| title_short |
The Financial Crisis and Mandatory Pension Systems in Developing
Countries : Short-and Medium-Term Responses for Retirement Income Systems |
| title_full |
The Financial Crisis and Mandatory Pension Systems in Developing
Countries : Short-and Medium-Term Responses for Retirement Income Systems |
| title_fullStr |
The Financial Crisis and Mandatory Pension Systems in Developing
Countries : Short-and Medium-Term Responses for Retirement Income Systems |
| title_full_unstemmed |
The Financial Crisis and Mandatory Pension Systems in Developing
Countries : Short-and Medium-Term Responses for Retirement Income Systems |
| title_sort |
financial crisis and mandatory pension systems in developing
countries : short-and medium-term responses for retirement income systems |
| publisher |
World Bank, Washington, DC |
| publishDate |
2012 |
| url |
http://documents.worldbank.org/curated/en/2008/12/10106891/financial-crisis-mandatory-pension-systems-developing-countries-short-and-medium-term-responses-retirement-income-systems http://hdl.handle.net/10986/11130 |
| _version_ |
1764415632898523136 |
| spelling |
okr-10986-111302021-04-23T14:02:54Z The Financial Crisis and Mandatory Pension Systems in Developing Countries : Short-and Medium-Term Responses for Retirement Income Systems Dorfman, Mark Hinz, Richard Robalino, David ACCESS TO BANK ACCESS TO BANK LOANS ACCRUAL RATE ADDITIONAL FINANCING AGING POPULATIONS ANNUAL RETURN ANNUITIES ANNUITY ANNUITY PURCHASE ASSET ALLOCATIONS ASSET PRICES ASSET VALUES AVERAGE EARNINGS AVERAGE PENSION BANK LOANS BANKING SYSTEM BANKS BASIC PENSION BENEFIT FORMULAS BONDS CALCULATION CALCULATIONS CASH BALANCES CASH FLOW CLIENT COUNTRIES COMPENSATION CONTRIBUTION CONTRIBUTION RATE CONTRIBUTION RATES CONTRIBUTION SCHEMES CONTRIBUTIONS CURRENT EXPENDITURES DEBT DEBT FINANCING DEFINED CONTRIBUTION PENSIONS DEFINED-BENEFIT PENSION DEFINED-CONTRIBUTION PENSIONS DEMOGRAPHIC DEVELOPING COUNTRIES DISABILITY DISABILITY BENEFITS DIVERSIFICATION DIVERSIFIED PORTFOLIO EARLY RETIREMENT EARNINGS ECONOMIC DEVELOPMENTS ECONOMIC DOWNTURN ECONOMIC SHOCKS ECONOMIC VOLATILITY ELDERLY EMPLOYEE ENTERPRISE FINANCING EXPOSURE EXTERNAL DEBT FINANCIAL ASSETS FINANCIAL CRISIS FINANCIAL FLOWS FINANCIAL IMPACT FINANCIAL INSTITUTIONS FINANCIAL ISSUES FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL RISKS FINANCIAL SECTOR FINANCIAL SITUATION FINANCIAL SYSTEM FINANCIAL SYSTEMS FINANCIAL VOLATILITY FISCAL DEFICITS FORMAL PENSION FORMAL PENSION SYSTEM FULL-CAREER WORKERS FUND ASSETS FUNDED ACCOUNT FUNDED PENSIONS FUNDED SCHEME FUNDED SCHEMES FUNDED SYSTEMS GOVERNANCE STANDARDS GOVERNMENT DEBT GROWTH RATE GUARANTEED BENEFIT HUMAN DEVELOPMENT INDIVIDUAL ACCOUNT INDIVIDUAL ACCOUNTS INDIVIDUAL SAVINGS INSTITUTIONAL INVESTORS INTERNATIONAL FINANCIAL CRISIS INVESTMENT BANKS INVESTMENT RETURNS INVESTMENT RISK LABOR FORCE LABOR MARKET LIABILITY LIFETIME LIQUIDATION LOAN LOAN MARKETS LONG-TERM PLANNING LOW INCOME LOW-INCOME LOW-INCOME WORKERS LOWER-INCOME WORKERS MACROECONOMIC RISKS MANDATORY PENSION FUNDS MARK-TO-MARKET MARKET RISKS MARKET VALUATION MARKET VOLATILITY MATURITY MINIMUM PENSION MINIMUM PENSIONS MULTI-PILLAR PENSION SYSTEM MULTI-PILLAR PENSION SYSTEMS MULTI-PILLAR SYSTEM MULTIPILLAR SYSTEMS NORMAL RETIREMENT AGE OLDER WORKERS OPPORTUNITY COSTS PAY AS YOU GO PAY AS YOU GO SYSTEM PAY-AS-YOU-GO PENSION SYSTEMS PAY-AS-YOU-GO SYSTEMS PENSION PENSION BENEFIT PENSION BENEFITS PENSION EXPENDITURES PENSION FUND PENSION FUND ASSETS PENSION FUND RETURNS PENSION FUNDS PENSION LIABILITY PENSION MARKETS PENSION PAYMENTS PENSION REFORM PENSION REFORM PRIMER PENSION SYSTEM PENSION SYSTEMS PENSION WEALTH PENSION-SCHEME PENSIONS POLICY RESPONSES PORTFOLIOS PRICE MOVEMENTS PRIVATE PENSIONS PUBLIC INFORMATION CAMPAIGN PUBLIC PENSION PUBLIC PENSION SCHEMES PUBLIC POLICIES PUBLIC SCHEMES RATE OF RETURN RECESSION REGULATORS REPLACEMENT RATES RESERVE RESERVE FUND RESERVES RETIREES RETIREMENT RETIREMENT AGE RETIREMENT BENEFIT RETIREMENT BENEFITS RETIREMENT INCOME RETIREMENT INCOME SYSTEMS RETIREMENT INCOMES RETIREMENT SAVINGS RETIREMENT SYSTEM RETIREMENT SYSTEMS RETIREMENT-INCOME RETIRING WORKERS RISK MANAGEMENT SALARIES SAVINGS SAVINGS ACCOUNTS SOCIAL INSURANCE SOCIAL INSURANCE CONTRIBUTIONS SOCIAL INSURANCE SYSTEM SOCIAL PENSION SOCIAL PENSIONS SUPERVISION OF PENSION FUNDS SUPPORT PROGRAM TRANSPARENCY UNEMPLOYMENT UNFUNDED PENSION VALUATION VALUE OF PENSION WAGE WILL WITHDRAWAL 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 effects. Governments are reacting to these events in different ways. Some are asking whether the balance between funded defined-contribution and unfunded pension schemes should be reconsidered. A few have already taken actions to reverse prior reforms. This note discusses the potential impacts of the financial crisis on fully funded and pay-as-you-go retirement-income systems in World Bank client countries, and identifies key short-and medium-term policy responses. 2012-08-13T14:14:03Z 2012-08-13T14:14:03Z 2008-12 http://documents.worldbank.org/curated/en/2008/12/10106891/financial-crisis-mandatory-pension-systems-developing-countries-short-and-medium-term-responses-retirement-income-systems http://hdl.handle.net/10986/11130 English World Bank Pension Reform Primer Series CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research :: Brief Publications & Research |