Publication:
Participation in Pension Programs in Low- and Middle-Income Countries

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dc.contributor.authorGiles, John
dc.contributor.authorJoubert, Clément
dc.contributor.authorTanaka, Tomoaki
dc.date.accessioned2025-04-24T18:44:30Z
dc.date.available2025-04-24T18:44:30Z
dc.date.issued2025-04-24
dc.description.abstractLow- and middle-income countries are aging rapidly but stagnation of growth in participation in pension programs, due to widespread informal employment, presents a major fiscal challenge. Some claim that improving the design of pension program rules can encourage more pension contributions, while others push for universal non-contributory pensions. This paper reviews the recent academic literature on the determinants of active participation in pension systems in high- informality settings. An emerging body of evidence shows that participation responds significantly to financial incentives as well as nonfinancial obstacles. At the same time, pensions are imperfect substitutes for other strategies to cover longevity risk, including support through the family, which will remain crucial for many older people in fiscally constrained environments. Therefore, policy makers should integrate the design of contributory pensions, social pensions, and policies that facilitate other forms of elderly support and consider how all three interact. To inform such efforts, these interactions must be more systematically investigated, and the empirical evidence must be expanded beyond a small number of middle-income countries.en
dc.identifierhttp://documents.worldbank.org/curated/en/099305404242537228
dc.identifier.doi10.1596/1813-9450-11105
dc.identifier.urihttps://hdl.handle.net/10986/43124
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC: World Bank
dc.relation.ispartofseriesPolicy Research Working Paper; 11105
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttps://creativecommons.org/licenses/by/3.0/igo/
dc.subjectPENSIONS
dc.subjectRETIREMENT
dc.subjectSAVINGS
dc.subjectINFORMALITY
dc.subjectLMICS
dc.titleParticipation in Pension Programs in Low- and Middle-Income Countriesen
dc.typeWorking Paper
dspace.entity.typePublication
okr.date.disclosure2025-04-24
okr.date.doiregistration2025-04-26T02:21:18.279153Z
okr.date.lastmodified2025-04-24T16:05:15Zen
okr.doctypePolicy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/099305404242537228
okr.guid099305404242537228
okr.identifier.docmidIDU-f49e2af8-b5ce-4efe-a9eb-ab9d06bdf563
okr.identifier.doi10.1596/1813-9450-11105
okr.identifier.externaldocumentum40008937
okr.identifier.internaldocumentum40008937
okr.identifier.reportWPS11105
okr.import.id7222
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttps://documents.worldbank.org/curated/en/099305404242537228/pdf/IDU-f49e2af8-b5ce-4efe-a9eb-ab9d06bdf563.pdfen
okr.region.geographicalWorld
okr.topicSocial Protections and Labor::Social Funds and Pensions
okr.topicSocial Protections and Labor::Pensions & Retirement Systems
okr.topicMacroeconomics and Economic Growth::Economic Investment & Savings
okr.unitDECPH:Poverty
okr.unitIneq. & Human Dev (DECPH)
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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