Collection : Transferring Contributions to Individual Pension Accounts
Collecting contributions is more complicated in a decentralized pension system, based on individual accounts, than in a public system. Many public plans provide a defined benefit pension based on only a few years' earnings, which limits the ne...
Main Author: | |
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Format: | Brief |
Language: | English |
Published: |
Washington, DC
2012
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Subjects: | |
Online Access: | http://documents.worldbank.org/curated/en/2000/01/6244001/collection-transferring-contributions-individual-pension-accounts http://hdl.handle.net/10986/11442 |
Summary: | Collecting contributions is more
complicated in a decentralized pension system, based on
individual accounts, than in a public system. Many public
plans provide a defined benefit pension based on only a few
years' earnings, which limits the need for keeping
records of people's earnings and contributions in every
year of their working life. And there is usually a choice of
pension fund manager with individual accounts. Collection,
record-keeping and transferring contributions to individual
accounts has often proved problematic. Some reforms have
been delayed or abandoned because of collection problems.
Using a series of case studies of Latin American and
European countries, this briefing highlights policy choices
in operating individual accounts systems. |
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