The World Bank Pension Conceptual Framework

The World Bank Pension Conceptual Framework

Since the mid 1980's, the World Bank has responded to the need to strengthen social insurance and contractual savings systems providing old age income support in developing countries. Such support has also been driven by pressures of global po...

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Bibliographic Details
Main Author:	World Bank
Format:	Brief
Language:	English
Published:	Washington, DC 2012
Subjects:	ADMINISTRATIVE COSTS ADVISORY SERVICE AFFORDABILITY AGENCY RISKS ASSESSMENT OF RISK ASSET MANAGEMENT BENEFIT PLANS CAPACITY BUILDING CAPITAL MARKET CAPITAL STOCK CLIENT COUNTRIES CLIENT INFORMATION COLLATERAL CONSUMPTION SMOOTHING CONTRACTUAL SAVINGS CONTRIBUTION CONTRIBUTION PLAN CONTRIBUTION PLANS CONTRIBUTION RATES CONTRIBUTIONS CREDIBILITY DEFINED BENEFIT DEFINED BENEFIT PLANS DEFINED CONTRIBUTION PLAN DEFINED CONTRIBUTION PLANS DEMOGRAPHIC DEMOGRAPHIC PROFILE DEVELOPING COUNTRIES DISABILITY DISABLED DISBURSEMENT DIVERSIFICATION DIVERSIFICATION OF INSTRUMENTS DIVORCE EARNINGS EARNINGS-RELATED PENSION ECONOMIC STABILITY ELDERLY EMPLOYER EMPLOYERS ENABLING ENVIRONMENT ENFORCEABLE PROPERTY RIGHTS ENVIRONMENTAL CONSIDERATIONS EVALUATION CRITERIA FAMILIES FAMILY SUPPORT FINANCIAL ASSETS FINANCIAL MARKET FINANCIAL MARKET DEVELOPMENT FINANCIAL MARKETS FISCAL RESOURCES FORMAL ECONOMY FORMAL PENSION FUTURE PENSION HEALTH CARE HOME OWNERSHIP HOMEOWNERSHIP INCOME INCOME GROUPS INCOME LEVEL INCOME SECURITY INCOMES INDIVIDUAL SAVINGS INFLATION INFORMAL SECTOR INHERITANCE INSTITUTION BUILDING INSTITUTIONAL CAPACITY INSTITUTIONAL DEVELOPMENT INTERNATIONAL BANK INVESTMENT MANAGEMENT INVESTMENT MANAGERS INVESTMENT PERFORMANCE LABOR FORCE LABOR MARKET LEGAL FRAMEWORK LIFE EXPECTANCIES LIFETIME LOCAL CAPACITY LONG-TERM INSTRUMENTS LONGEVITY RISKS LOW EARNINGS MACROECONOMIC ENVIRONMENT MANDATORY CONTRIBUTIONS MARKET DISTORTIONS MARKET EFFICIENCY MINIMUM PENSION MORAL HAZARDS OCCUPATIONAL SCHEMES OLD AGE CRISIS OLD-AGE INCOME OUTPUT PARTICULAR COUNTRY PASSIVE INVESTMENT PENSION PENSION ARRANGEMENTS PENSION BENEFITS PENSION INDICATORS PENSION ISSUES PENSION LIABILITIES PENSION PLAN PENSION REFORM PENSION REFORM PRIMER PENSION REFORMS PENSION SCHEME PENSION SCHEMES PENSION SYSTEM PENSION SYSTEMS PENSION WORK PENSIONS PENSIONS SYSTEMS PERSONAL PENSION PERSONAL PENSION PLANS PILLAR SYSTEM POLITICAL ECONOMY POLITICAL RISKS POLITICAL VOLATILITY POVERTY ALLEVIATION PROPERTY RIGHTS PUBLIC PENSION PUBLIC POLICIES PUBLIC POLICY RECORD KEEPING REPLACEMENT RATE RESERVES RETIREE RETIREES RETIREMENT RETIREMENT INCOME RETIREMENT SAVINGS REVERSE MORTGAGES RISK MANAGEMENT SAVINGS SAVINGS ACCOUNT SAVINGS ACCOUNTS SAVINGS FOR RETIREMENT SOCIAL ASSISTANCE SOCIAL INSURANCE SOCIAL PENSION SOCIAL POLICY SOCIAL PROTECTION SOCIAL SECURITY TRANSACTION UNEMPLOYMENT UNEMPLOYMENT INSURANCE VOLUNTARY PENSION WAGE WITHDRAWAL WORKING LIVES
Online Access:	http://documents.worldbank.org/curated/en/2008/09/9898950/world-bank-pension-conceptual-framework http://hdl.handle.net/10986/11139

Description
Summary:	Since the mid 1980's, the World Bank has responded to the need to strengthen social insurance and contractual savings systems providing old age income support in developing countries. Such support has also been driven by pressures of global population aging, the erosion of informal and traditional family support systems, and weaknesses in the governance and administration of existing pension systems. The importance of effective formal sources of retirement income is accentuated by changes in work and family patterns including the increasing participation of women in formal employment, rising divorce rates, diminishing job stability and increases in local and international labor migration. The Bank's conceptual framework has emerged from its experience in Bank-supported reforms and the changing conditions and needs in client countries. Following the important work of the mid-1990's, averting the old age crisis that established key principles and concepts, the Bank's attention has increasingly focused on refining system designs to adapt these principles to widely varying conditions and better address the needs of diverse populations to manage the risks in old age.

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