Publication:
Nonfinancial Defined Contribution Pension Schemes in a Changing Pension World : Volume 1. Progress, Lessons, and Implementation

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dc.contributor.authorHolzmann, Robert
dc.contributor.authorPalmer, Edward
dc.contributor.authorRobalino, David
dc.date.accessioned2012-07-02T18:52:59Z
dc.date.available2012-07-02T18:52:59Z
dc.date.issued2012
dc.description.abstractPensions and social insurance programs are an integral part of any social protection system. Their dual objectives are to prevent a sharp decline in income and protect against poverty resulting from old age, disability, or death. The critical role of pensions for protection, prevention, and promotion was reiterated and expanded in the new World Bank 2012-2022 social protection strategy. This new strategy reviews the success and challenges of the past decade or more, during which time the World Bank became a main player in the area of pensions. But more importantly, the strategy takes the three key objectives for pensions under the World Bank's conceptual framework coverage, adequacy, and sustainability and asks how these objectives and the inevitable difficult balance between them can best be achieved. The ongoing focus on closing the coverage gap with social pensions and the new outreach to explore the role of matching contributions to address coverage and/or adequacy is part of this strategy. This comprehensive anthology on nonfinancial defined contribution (NDC) pension schemes is part and parcel of the effort to explore and document the working of this new system or reform option and its ability to balance these three key objectives. This innovative, unfunded individual accounts scheme provides a promising option at a time when the world seems locked into a stalemate between piecemeal reform of ailing traditional defined benefit plans or their replacement with prefunded financial account schemes. The current financial crisis, with its focus on sovereign debt, has enhanced the attraction of NDC as a pension scheme that aims for intra and intergenerational fairness, offers a transparent framework to distribute economic and demographic risks, and, if well designed, promises long-term financial stability. Supplemented with a basic minimum pension guarantee, explicit noncontributory rights, and a funded pillar, the NDC approach provides an efficient framework for addressing poverty and risk diversification concerns.en
dc.identifierhttp://documents.worldbank.org/curated/en/2012/06/16439040/nonfinancial-defined-contribution-pension-schemes-changing-pension-world-progress-lessons-implementation
dc.identifier.doi10.1596/978-0-8213-8848-8
dc.identifier.isbn978-0-8213-8848-8
dc.identifier.urihttps://hdl.handle.net/10986/9378
dc.languageEnglish
dc.publisherWashington, DC: World Bank
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectACCRUAL RATE
dc.subjectACCRUAL RATES
dc.subjectADVANCED COUNTRIES
dc.subjectAGE CATEGORIES
dc.subjectAGE DISTRIBUTION
dc.subjectAGE GROUP
dc.subjectANNUITY
dc.subjectASYLUM
dc.subjectAVERAGE WAGE
dc.subjectAVERAGE WAGE GROWTH
dc.subjectBANK ACCOUNTS
dc.subjectBANK LENDING
dc.subjectBASIC PENSION
dc.subjectBASIC PENSIONS
dc.subjectBENEFICIARIES
dc.subjectBENEFICIARY
dc.subjectBENEFIT FORMULAE
dc.subjectBENEFIT FORMULAS
dc.subjectBENEFIT INDEXATION
dc.subjectCASH TRANSFERS
dc.subjectCENTER FOR HEALTH
dc.subjectCHANGE IN POPULATION
dc.subjectCHANGES IN FERTILITY
dc.subjectCHILD REARING
dc.subjectCHILDBEARING
dc.subjectCITIZENS
dc.subjectCITIZENSHIP
dc.subjectCONTINUED EMPLOYMENT
dc.subjectCONTRACTUAL SAVINGS
dc.subjectCONTRIBUTION RATES
dc.subjectCONTRIBUTION RECORDS
dc.subjectCORESIDENCE
dc.subjectCOUNTRY OF ORIGIN
dc.subjectDEATH RATES
dc.subjectDEFINED BENEFIT
dc.subjectDEFINED BENEFIT SCHEMES
dc.subjectDEFINED CONTRIBUTION PENSIONS
dc.subjectDEMOGRAPHIC
dc.subjectDEMOGRAPHIC CHANGES
dc.subjectDEMOGRAPHIC PROJECTIONS
dc.subjectDEMOGRAPHIC TRANSITION
dc.subjectDEPENDENCY RATIO
dc.subjectDEPENDENCY RATIOS
dc.subjectDEVELOPING COUNTRIES
dc.subjectDEVELOPING ECONOMIES
dc.subjectDISABILITY
dc.subjectDISTRIBUTION OF POPULATIONS
dc.subjectDIVISION OF LABOR
dc.subjectEARLY RETIREMENT
dc.subjectEARNING
dc.subjectECONOMIC GROWTH
dc.subjectELDERLY
dc.subjectELDERLY POPULATION
dc.subjectEMPLOYEE
dc.subjectFAMILY POLICIES
dc.subjectFERTILITY
dc.subjectFERTILITY RATE
dc.subjectFERTILITY RATES
dc.subjectFINANCIAL CRISIS
dc.subjectFUNDED BASIS
dc.subjectGENDER DIFFERENCES
dc.subjectGENDER GAP
dc.subjectGEOGRAPHIC DISTRIBUTION
dc.subjectGOVERNMENT SPENDING
dc.subjectGROSS NATIONAL INCOME
dc.subjectGROSS REPLACEMENT RATES
dc.subjectGROSS WAGES
dc.subjectGROWTH RATE
dc.subjectHUMAN RESOURCE
dc.subjectINCOME GROUP
dc.subjectINCOME LEVEL
dc.subjectINDIVIDUAL ACCOUNT
dc.subjectINDIVIDUAL ACCOUNTS
dc.subjectINFANT
dc.subjectINFANT MORTALITY
dc.subjectINFORMAL LABOR MARKETS
dc.subjectINFORMAL SECTOR
dc.subjectINFORMAL SECTOR WORKERS
dc.subjectINSURANCE POLICIES
dc.subjectINTEREST RATE
dc.subjectINTEREST RATES
dc.subjectINTERNATIONAL LABOUR ORGANIZATION
dc.subjectINVESTMENT RISK
dc.subjectINVOLUNTARY UNEMPLOYMENT
dc.subjectLABOR FORCE
dc.subjectLABOR FORCE PARTICIPATION
dc.subjectLABOR MARKET
dc.subjectLABOR MARKET CONDITIONS
dc.subjectLABOR MARKET INDICATORS
dc.subjectLABOR MARKETS
dc.subjectLABOR SUPPLY
dc.subjectLABOUR
dc.subjectLEGAL STATUS
dc.subjectLIFE EXPECTANCIES
dc.subjectLIFE EXPECTANCY
dc.subjectLIFE INSURANCE
dc.subjectLIVE BIRTHS
dc.subjectMANDATES
dc.subjectMANDATORY SAVING
dc.subjectMANDATORY SYSTEMS
dc.subjectMARKET CONDITIONS
dc.subjectMARKET DATA
dc.subjectMIGRANTS
dc.subjectMIGRATION
dc.subjectMORTALITY
dc.subjectMORTGAGES
dc.subjectMULTIPILLAR PENSION SYSTEMS
dc.subjectMULTIPILLAR SYSTEMS
dc.subjectMUTUAL FUNDS
dc.subjectNATIONAL LEVEL
dc.subjectNATIONAL PENSION
dc.subjectNEWBORN
dc.subjectNORMAL RETIREMENT AGE
dc.subjectNUMBER OF CHILDREN
dc.subjectNUMBER OF DEATHS
dc.subjectNUMBER OF PEOPLE
dc.subjectNUMBER OF WORKERS
dc.subjectOCCUPATION
dc.subjectOLD AGE
dc.subjectOLDER PEOPLE
dc.subjectOLDER WORKERS
dc.subjectPAYROLL TAX
dc.subjectPENSION
dc.subjectPENSION AGE
dc.subjectPENSION BENEFIT
dc.subjectPENSION BENEFITS
dc.subjectPENSION COVERAGE
dc.subjectPENSION DEBT
dc.subjectPENSION ENTITLEMENT
dc.subjectPENSION EXPENDITURE
dc.subjectPENSION EXPENDITURES
dc.subjectPENSION FRAMEWORK
dc.subjectPENSION INCOME
dc.subjectPENSION INDICATORS
dc.subjectPENSION LIABILITIES
dc.subjectPENSION LIABILITY
dc.subjectPENSION PLANS
dc.subjectPENSION POLICY
dc.subjectPENSION PROGRAMS
dc.subjectPENSION PROVISION
dc.subjectPENSION REFORM
dc.subjectPENSION SAVINGS
dc.subjectPENSION SCHEME
dc.subjectPENSION SCHEMES
dc.subjectPENSION SPENDING
dc.subjectPENSION SYSTEM
dc.subjectPENSION SYSTEMS
dc.subjectPENSION WEALTH
dc.subjectPENSIONABLE AGE
dc.subjectPENSIONERS
dc.subjectPENSIONS
dc.subjectPERFORMANCE INDICATORS
dc.subjectPOPULATION AGEING
dc.subjectPOPULATION CENSUS
dc.subjectPOPULATION CENSUSES
dc.subjectPOPULATION DATA
dc.subjectPOPULATION DIVISION
dc.subjectPOPULATION FORECASTS
dc.subjectPOPULATION PROJECTIONS
dc.subjectPRESENT VALUE
dc.subjectPREVIOUS SECTION
dc.subjectPRICE INDEXATION
dc.subjectPRIVATE INSTITUTIONS
dc.subjectPRIVATE PENSION
dc.subjectPRIVATE SECTOR
dc.subjectPROGRESS
dc.subjectPROVIDENT FUND
dc.subjectPROVIDENT FUNDS
dc.subjectPUBLIC DEBT
dc.subjectPUBLIC DEFICIT
dc.subjectPUBLIC PENSION
dc.subjectPUBLIC SCHEME
dc.subjectPUBLIC SECTOR EMPLOYEES
dc.subjectPUBLIC SECTOR WORKERS
dc.subjectPUBLIC SERVICE
dc.subjectREFUGEES
dc.subjectREPLACEMENT RATE
dc.subjectREPLACEMENT RATES
dc.subjectRESERVES
dc.subjectRETIREES
dc.subjectRETIREMENT
dc.subjectRETIREMENT AGE
dc.subjectRETIREMENT AGES
dc.subjectRETIREMENT BEHAVIOR
dc.subjectRETIREMENT INCOME
dc.subjectRETIREMENT INCOME PROVISION
dc.subjectRETIREMENT INVESTMENT
dc.subjectRETIREMENT-INCOME
dc.subjectRURAL AREAS
dc.subjectRURAL POPULATION
dc.subjectSELF EMPLOYMENT
dc.subjectSERVANTS
dc.subjectSEX
dc.subjectSOCIAL ASSISTANCE
dc.subjectSOCIAL INSURANCE
dc.subjectSOCIAL INSURANCE CONTRIBUTION
dc.subjectSOCIAL INSURANCE PROGRAMS
dc.subjectSOCIAL PENSIONS
dc.subjectSOCIAL PROGRAMS
dc.subjectSOCIAL PROTECTION
dc.subjectSOCIAL SECURITY
dc.subjectSOCIAL SECURITY REFORMS
dc.subjectSOCIAL SECURITY SYSTEM
dc.subjectSOCIAL SECURITY SYSTEMS
dc.subjectTAX FINANCING
dc.subjectTECHNICAL ASSISTANCE
dc.subjectUNEMPLOYED
dc.subjectUNEMPLOYMENT
dc.subjectUNFUNDED PENSION
dc.subjectURBAN POPULATION
dc.subjectVOLUNTARY PENSIONS
dc.subjectWAGE BILL
dc.subjectWAGE LEVEL
dc.subjectWAGE LEVELS
dc.subjectWOMAN
dc.subjectWORKER
dc.subjectWORKFORCE
dc.subjectWORLD DEVELOPMENT INDICATORS
dc.subjectWORLD HEALTH ORGANIZATION
dc.titleNonfinancial Defined Contribution Pension Schemes in a Changing Pension World : Volume 1. Progress, Lessons, and Implementationen
dspace.entity.typePublication
okr.crosscuttingsolutionareaJobs
okr.date.disclosure2012-06-27
okr.doctypePublications & Research::Publication
okr.doctypePublications & Research::Publication
okr.docurlhttp://documents.worldbank.org/curated/en/2012/06/16439040/nonfinancial-defined-contribution-pension-schemes-changing-pension-world-progress-lessons-implementation
okr.globalpracticeSocial Protection and Labor
okr.globalpracticeFinance and Markets
okr.globalpracticeTrade and Competitiveness
okr.globalpracticeHealth, Nutrition, and Population
okr.guid299721522653510944
okr.guid651681522653016736
okr.guid491211468128117964
okr.guid879021468330016802
okr.identifier.doi10.1596/978-0-8213-8848-8
okr.identifier.externaldocumentum090224b0830effb9_2_0
okr.identifier.internaldocumentum16439040
okr.identifier.report70594
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2012/06/28/000386194_20120628033736/Rendered/PDF/705940PUB0EPI0067902B09780821388488.pdfen
okr.topicPensions and Retirement Systems
okr.topicHealth, Nutrition and Population::Population Policies
okr.topicSocial Protections and Labor::Labor Markets
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicPrivate Sector Development::Emerging Markets
okr.unitSocial Protection Team (HDNSP)
okr.volume1 of 1
relation.isAuthorOfPublicationb036b47b-8d48-5ef8-81c6-543fe1f7c99d
relation.isAuthorOfPublicationb84ca6dd-f0a6-5cc0-af76-6d1011b72bff
relation.isAuthorOfPublication63663214-e8c1-5318-a6f5-0c4de21dd09a
relation.isAuthorOfPublication.latestForDiscovery63663214-e8c1-5318-a6f5-0c4de21dd09a
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