Global Pension Systems and Their Reform : Worldwide Drivers, Trends, and Challenges
Across the world, pension systems and their reforms are in a constant state of flux driven by shifting objectives, moving reform needs, and a changing enabling environment. The ongoing worldwide financial crisis and the adjustment to an uncertain &...
| Main Author: | |
|---|---|
| Format: | Working Paper |
| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2013
|
| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2012/05/16272522/global-pension-systems-reform-worldwide-drivers-trends-challenges http://hdl.handle.net/10986/13557 |
| Summary: | Across the world, pension systems and
their reforms are in a constant state of flux driven by
shifting objectives, moving reform needs, and a changing
enabling environment. The ongoing worldwide financial crisis
and the adjustment to an uncertain 'new normal'
will make future pension systems different from past ones.
The objectives of this policy review paper are threefold:
(i) to briefly review recent and ongoing key changes that
are triggering reforms; (ii) to outline the main reform
trends across pension pillars; and (iii) to identify a few
areas on which the pension reform community will need to
focus to make a difference. The latter includes: creating
solutions after the marginalization or, perhaps, demise of
Bismarckian systems in countries with high rates of
informality; keeping the elderly in the labor market; and
addressing the uncertainty of longevity increases in pension schemes. |
|---|