Publication: New Ideas about Old Age Security : Toward Sustainable Pension Systems in the 21st Century
Date
2001
ISSN
Published
2001
Author(s)
Abstract
Given the impact of the multipillar
approach to pension reform and the diversity of its
implementation, the authors, who presented papers at the
1999 conference on "New Ideas About Old Age
Security," re-examine the evidence and thinking on
pensions and retirement security. This report examines
global issues on pension reform which help put in
perspective three major sets of questions. A first set of
questions deals with generic issues that concern
policymakers worldwide, almost independently of apporaches
to reform. Most prominent but also least understood are the
economic policy questions regarding the economic
circumstances that are most conducive to the initiation of a
reform and to its eventual success. Equally important are
questions relating to the coverage of the labor force under
a reformed system. Other questions concern the distributive
effects of reformed systems with respect to generation,
income group, and gender. A second set of questions is
linked with a move toward funded provisions under a
multipillar approach. A third set of questions concerns the
multipillar reform approach itself. A wide consensus has
emerged inside and outside the World Bank about the
multipillar framework, but that consensus does not extend to
several key issues regarding how the framework should be
implemented in practice. The introduction to this report
sums up each chapter in the report and concludes with a
discussion of policy issues and on areas requiring further research.
Citation
“Holzmann, Robert; Stiglitz, Joseph E.. 2001. New Ideas about Old Age Security : Toward Sustainable Pension Systems in the 21st Century. © Washington, DC: World Bank. http://openknowledge.worldbank.org/entities/publication/3831dc5b-60b7-5e8b-83f7-349fa658e797 License: CC BY 3.0 IGO.”