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

dc.contributor.author Holzmann, Robert
dc.contributor.author Palmer, Edward
dc.contributor.author Robalino, David
dc.date.accessioned 2012-07-02T18:52:59Z
dc.date.available 2012-07-02T18:52:59Z
dc.date.issued 2012
dc.description.abstract Pensions 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.identifier http://documents.worldbank.org/curated/en/2012/06/16439040/nonfinancial-defined-contribution-pension-schemes-changing-pension-world-progress-lessons-implementation
dc.identifier.isbn 978-0-8213-8848-8
dc.identifier.uri http://hdl.handle.net/10986/9378
dc.language English
dc.publisher Washington, DC: World Bank
dc.rights CC BY 3.0 IGO
dc.rights.holder World Bank
dc.rights.uri http://creativecommons.org/licenses/by/3.0/igo
dc.subject ACCRUAL RATE
dc.subject ACCRUAL RATES
dc.subject ADVANCED COUNTRIES
dc.subject AGE CATEGORIES
dc.subject AGE DISTRIBUTION
dc.subject AGE GROUP
dc.subject ANNUITY
dc.subject ASYLUM
dc.subject AVERAGE WAGE
dc.subject AVERAGE WAGE GROWTH
dc.subject BANK ACCOUNTS
dc.subject BANK LENDING
dc.subject BASIC PENSION
dc.subject BASIC PENSIONS
dc.subject BENEFICIARIES
dc.subject BENEFICIARY
dc.subject BENEFIT FORMULAE
dc.subject BENEFIT FORMULAS
dc.subject BENEFIT INDEXATION
dc.subject CASH TRANSFERS
dc.subject CENTER FOR HEALTH
dc.subject CHANGE IN POPULATION
dc.subject CHANGES IN FERTILITY
dc.subject CHILD REARING
dc.subject CHILDBEARING
dc.subject CITIZENS
dc.subject CITIZENSHIP
dc.subject CONTINUED EMPLOYMENT
dc.subject CONTRACTUAL SAVINGS
dc.subject CONTRIBUTION RATES
dc.subject CONTRIBUTION RECORDS
dc.subject CORESIDENCE
dc.subject COUNTRY OF ORIGIN
dc.subject DEATH RATES
dc.subject DEFINED BENEFIT
dc.subject DEFINED BENEFIT SCHEMES
dc.subject DEFINED CONTRIBUTION PENSIONS
dc.subject DEMOGRAPHIC
dc.subject DEMOGRAPHIC CHANGES
dc.subject DEMOGRAPHIC PROJECTIONS
dc.subject DEMOGRAPHIC TRANSITION
dc.subject DEPENDENCY RATIO
dc.subject DEPENDENCY RATIOS
dc.subject DEVELOPING COUNTRIES
dc.subject DEVELOPING ECONOMIES
dc.subject DISABILITY
dc.subject DISTRIBUTION OF POPULATIONS
dc.subject DIVISION OF LABOR
dc.subject EARLY RETIREMENT
dc.subject EARNING
dc.subject ECONOMIC GROWTH
dc.subject ELDERLY
dc.subject ELDERLY POPULATION
dc.subject EMPLOYEE
dc.subject FAMILY POLICIES
dc.subject FERTILITY
dc.subject FERTILITY RATE
dc.subject FERTILITY RATES
dc.subject FINANCIAL CRISIS
dc.subject FUNDED BASIS
dc.subject GENDER DIFFERENCES
dc.subject GENDER GAP
dc.subject GEOGRAPHIC DISTRIBUTION
dc.subject GOVERNMENT SPENDING
dc.subject GROSS NATIONAL INCOME
dc.subject GROSS REPLACEMENT RATES
dc.subject GROSS WAGES
dc.subject GROWTH RATE
dc.subject HUMAN RESOURCE
dc.subject INCOME GROUP
dc.subject INCOME LEVEL
dc.subject INDIVIDUAL ACCOUNT
dc.subject INDIVIDUAL ACCOUNTS
dc.subject INFANT
dc.subject INFANT MORTALITY
dc.subject INFORMAL LABOR MARKETS
dc.subject INFORMAL SECTOR
dc.subject INFORMAL SECTOR WORKERS
dc.subject INSURANCE POLICIES
dc.subject INTEREST RATE
dc.subject INTEREST RATES
dc.subject INTERNATIONAL LABOUR ORGANIZATION
dc.subject INVESTMENT RISK
dc.subject INVOLUNTARY UNEMPLOYMENT
dc.subject LABOR FORCE
dc.subject LABOR FORCE PARTICIPATION
dc.subject LABOR MARKET
dc.subject LABOR MARKET CONDITIONS
dc.subject LABOR MARKET INDICATORS
dc.subject LABOR MARKETS
dc.subject LABOR SUPPLY
dc.subject LABOUR
dc.subject LEGAL STATUS
dc.subject LIFE EXPECTANCIES
dc.subject LIFE EXPECTANCY
dc.subject LIFE INSURANCE
dc.subject LIVE BIRTHS
dc.subject MANDATES
dc.subject MANDATORY SAVING
dc.subject MANDATORY SYSTEMS
dc.subject MARKET CONDITIONS
dc.subject MARKET DATA
dc.subject MIGRANTS
dc.subject MIGRATION
dc.subject MORTALITY
dc.subject MORTGAGES
dc.subject MULTIPILLAR PENSION SYSTEMS
dc.subject MULTIPILLAR SYSTEMS
dc.subject MUTUAL FUNDS
dc.subject NATIONAL LEVEL
dc.subject NATIONAL PENSION
dc.subject NEWBORN
dc.subject NORMAL RETIREMENT AGE
dc.subject NUMBER OF CHILDREN
dc.subject NUMBER OF DEATHS
dc.subject NUMBER OF PEOPLE
dc.subject NUMBER OF WORKERS
dc.subject OCCUPATION
dc.subject OLD AGE
dc.subject OLDER PEOPLE
dc.subject OLDER WORKERS
dc.subject PAYROLL TAX
dc.subject PENSION
dc.subject PENSION AGE
dc.subject PENSION BENEFIT
dc.subject PENSION BENEFITS
dc.subject PENSION COVERAGE
dc.subject PENSION DEBT
dc.subject PENSION ENTITLEMENT
dc.subject PENSION EXPENDITURE
dc.subject PENSION EXPENDITURES
dc.subject PENSION FRAMEWORK
dc.subject PENSION INCOME
dc.subject PENSION INDICATORS
dc.subject PENSION LIABILITIES
dc.subject PENSION LIABILITY
dc.subject PENSION PLANS
dc.subject PENSION POLICY
dc.subject PENSION PROGRAMS
dc.subject PENSION PROVISION
dc.subject PENSION REFORM
dc.subject PENSION SAVINGS
dc.subject PENSION SCHEME
dc.subject PENSION SCHEMES
dc.subject PENSION SPENDING
dc.subject PENSION SYSTEM
dc.subject PENSION SYSTEMS
dc.subject PENSION WEALTH
dc.subject PENSIONABLE AGE
dc.subject PENSIONERS
dc.subject PENSIONS
dc.subject PERFORMANCE INDICATORS
dc.subject POPULATION AGEING
dc.subject POPULATION CENSUS
dc.subject POPULATION CENSUSES
dc.subject POPULATION DATA
dc.subject POPULATION DIVISION
dc.subject POPULATION FORECASTS
dc.subject POPULATION PROJECTIONS
dc.subject PRESENT VALUE
dc.subject PREVIOUS SECTION
dc.subject PRICE INDEXATION
dc.subject PRIVATE INSTITUTIONS
dc.subject PRIVATE PENSION
dc.subject PRIVATE SECTOR
dc.subject PROGRESS
dc.subject PROVIDENT FUND
dc.subject PROVIDENT FUNDS
dc.subject PUBLIC DEBT
dc.subject PUBLIC DEFICIT
dc.subject PUBLIC PENSION
dc.subject PUBLIC SCHEME
dc.subject PUBLIC SECTOR EMPLOYEES
dc.subject PUBLIC SECTOR WORKERS
dc.subject PUBLIC SERVICE
dc.subject REFUGEES
dc.subject REPLACEMENT RATE
dc.subject REPLACEMENT RATES
dc.subject RESERVES
dc.subject RETIREES
dc.subject RETIREMENT
dc.subject RETIREMENT AGE
dc.subject RETIREMENT AGES
dc.subject RETIREMENT BEHAVIOR
dc.subject RETIREMENT INCOME
dc.subject RETIREMENT INCOME PROVISION
dc.subject RETIREMENT INVESTMENT
dc.subject RETIREMENT-INCOME
dc.subject RURAL AREAS
dc.subject RURAL POPULATION
dc.subject SELF EMPLOYMENT
dc.subject SERVANTS
dc.subject SEX
dc.subject SOCIAL ASSISTANCE
dc.subject SOCIAL INSURANCE
dc.subject SOCIAL INSURANCE CONTRIBUTION
dc.subject SOCIAL INSURANCE PROGRAMS
dc.subject SOCIAL PENSIONS
dc.subject SOCIAL PROGRAMS
dc.subject SOCIAL PROTECTION
dc.subject SOCIAL SECURITY
dc.subject SOCIAL SECURITY REFORMS
dc.subject SOCIAL SECURITY SYSTEM
dc.subject SOCIAL SECURITY SYSTEMS
dc.subject TAX FINANCING
dc.subject TECHNICAL ASSISTANCE
dc.subject UNEMPLOYED
dc.subject UNEMPLOYMENT
dc.subject UNFUNDED PENSION
dc.subject URBAN POPULATION
dc.subject VOLUNTARY PENSIONS
dc.subject WAGE BILL
dc.subject WAGE LEVEL
dc.subject WAGE LEVELS
dc.subject WOMAN
dc.subject WORKER
dc.subject WORKFORCE
dc.subject WORLD DEVELOPMENT INDICATORS
dc.subject WORLD HEALTH ORGANIZATION
dc.title Nonfinancial Defined Contribution Pension Schemes in a Changing Pension World : Volume 1. Progress, Lessons, and Implementation en
dspace.entity.type Publication
okr.crosscuttingsolutionarea Jobs
okr.date.disclosure 2012-06-27
okr.doctype Publications & Research :: Publication
okr.doctype Publications & Research :: Publication
okr.docurl http://documents.worldbank.org/curated/en/2012/06/16439040/nonfinancial-defined-contribution-pension-schemes-changing-pension-world-progress-lessons-implementation
okr.globalpractice Social Protection and Labor
okr.globalpractice Finance and Markets
okr.globalpractice Trade and Competitiveness
okr.globalpractice Health, Nutrition, and Population
okr.identifier.doi 10.1596/978-0-8213-8848-8
okr.identifier.externaldocumentum 090224b0830effb9_2_0
okr.identifier.internaldocumentum 16439040
okr.identifier.report 70594
okr.language.supported en
okr.pdfurl http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2012/06/28/000386194_20120628033736/Rendered/PDF/705940PUB0EPI0067902B09780821388488.pdf en
okr.topic Pensions and Retirement Systems
okr.topic Health, Nutrition and Population :: Population Policies
okr.topic Social Protections and Labor :: Labor Markets
okr.topic Finance and Financial Sector Development :: Debt Markets
okr.topic Private Sector Development :: Emerging Markets
okr.unit Social Protection Team (HDNSP)
okr.volume 1 of 1
relation.isAuthorOfPublication b036b47b-8d48-5ef8-81c6-543fe1f7c99d
relation.isAuthorOfPublication b84ca6dd-f0a6-5cc0-af76-6d1011b72bff
relation.isAuthorOfPublication 63663214-e8c1-5318-a6f5-0c4de21dd09a
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