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The Financial Crisis and Mandatory Pension Systems in Developing Countries : Short-and Medium-Term Responses for Retirement Income Systems

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dc.contributor.authorDorfman, Mark
dc.contributor.authorHinz, Richard
dc.contributor.authorRobalino, David
dc.date.accessioned2012-08-13T14:14:03Z
dc.date.available2012-08-13T14:14:03Z
dc.date.issued2008-12
dc.description.abstractThe international financial crisis has severely affected the value of pension fund assets worldwide. The unfolding global recession will also impose pressures on public pension schemes financed on a pay-as-you-go basis, while limiting the capacity of governments to mitigate both of theses effects. Governments are reacting to these events in different ways. Some are asking whether the balance between funded defined-contribution and unfunded pension schemes should be reconsidered. A few have already taken actions to reverse prior reforms. This note discusses the potential impacts of the financial crisis on fully funded and pay-as-you-go retirement-income systems in World Bank client countries, and identifies key short-and medium-term policy responses.en
dc.identifierhttp://documents.worldbank.org/curated/en/2008/12/10106891/financial-crisis-mandatory-pension-systems-developing-countries-short-and-medium-term-responses-retirement-income-systems
dc.identifier.doi10.1596/11130
dc.identifier.urihttps://hdl.handle.net/10986/11130
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesWorld Bank Pension Reform Primer Series
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCESS TO BANK
dc.subjectACCESS TO BANK LOANS
dc.subjectACCRUAL RATE
dc.subjectADDITIONAL FINANCING
dc.subjectAGING POPULATIONS
dc.subjectANNUAL RETURN
dc.subjectANNUITIES
dc.subjectANNUITY
dc.subjectANNUITY PURCHASE
dc.subjectASSET ALLOCATIONS
dc.subjectASSET PRICES
dc.subjectASSET VALUES
dc.subjectAVERAGE EARNINGS
dc.subjectAVERAGE PENSION
dc.subjectBANK LOANS
dc.subjectBANKING SYSTEM
dc.subjectBANKS
dc.subjectBASIC PENSION
dc.subjectBENEFIT FORMULAS
dc.subjectBONDS
dc.subjectCALCULATION
dc.subjectCALCULATIONS
dc.subjectCASH BALANCES
dc.subjectCASH FLOW
dc.subjectCLIENT COUNTRIES
dc.subjectCOMPENSATION
dc.subjectCONTRIBUTION
dc.subjectCONTRIBUTION RATE
dc.subjectCONTRIBUTION RATES
dc.subjectCONTRIBUTION SCHEMES
dc.subjectCONTRIBUTIONS
dc.subjectCURRENT EXPENDITURES
dc.subjectDEBT
dc.subjectDEBT FINANCING
dc.subjectDEFINED CONTRIBUTION PENSIONS
dc.subjectDEFINED-BENEFIT PENSION
dc.subjectDEFINED-CONTRIBUTION PENSIONS
dc.subjectDEMOGRAPHIC
dc.subjectDEVELOPING COUNTRIES
dc.subjectDISABILITY
dc.subjectDISABILITY BENEFITS
dc.subjectDIVERSIFICATION
dc.subjectDIVERSIFIED PORTFOLIO
dc.subjectEARLY RETIREMENT
dc.subjectEARNINGS
dc.subjectECONOMIC DEVELOPMENTS
dc.subjectECONOMIC DOWNTURN
dc.subjectECONOMIC SHOCKS
dc.subjectECONOMIC VOLATILITY
dc.subjectELDERLY
dc.subjectEMPLOYEE
dc.subjectENTERPRISE FINANCING
dc.subjectEXPOSURE
dc.subjectEXTERNAL DEBT
dc.subjectFINANCIAL ASSETS
dc.subjectFINANCIAL CRISIS
dc.subjectFINANCIAL FLOWS
dc.subjectFINANCIAL IMPACT
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL ISSUES
dc.subjectFINANCIAL MARKET
dc.subjectFINANCIAL MARKETS
dc.subjectFINANCIAL RISKS
dc.subjectFINANCIAL SECTOR
dc.subjectFINANCIAL SITUATION
dc.subjectFINANCIAL SYSTEM
dc.subjectFINANCIAL SYSTEMS
dc.subjectFINANCIAL VOLATILITY
dc.subjectFISCAL DEFICITS
dc.subjectFORMAL PENSION
dc.subjectFORMAL PENSION SYSTEM
dc.subjectFULL-CAREER WORKERS
dc.subjectFUND ASSETS
dc.subjectFUNDED ACCOUNT
dc.subjectFUNDED PENSIONS
dc.subjectFUNDED SCHEME
dc.subjectFUNDED SCHEMES
dc.subjectFUNDED SYSTEMS
dc.subjectGOVERNANCE STANDARDS
dc.subjectGOVERNMENT DEBT
dc.subjectGROWTH RATE
dc.subjectGUARANTEED BENEFIT
dc.subjectHUMAN DEVELOPMENT
dc.subjectINDIVIDUAL ACCOUNT
dc.subjectINDIVIDUAL ACCOUNTS
dc.subjectINDIVIDUAL SAVINGS
dc.subjectINSTITUTIONAL INVESTORS
dc.subjectINTERNATIONAL FINANCIAL CRISIS
dc.subjectINVESTMENT BANKS
dc.subjectINVESTMENT RETURNS
dc.subjectINVESTMENT RISK
dc.subjectLABOR FORCE
dc.subjectLABOR MARKET
dc.subjectLIABILITY
dc.subjectLIFETIME
dc.subjectLIQUIDATION
dc.subjectLOAN
dc.subjectLOAN MARKETS
dc.subjectLONG-TERM PLANNING
dc.subjectLOW INCOME
dc.subjectLOW-INCOME
dc.subjectLOW-INCOME WORKERS
dc.subjectLOWER-INCOME WORKERS
dc.subjectMACROECONOMIC RISKS
dc.subjectMANDATORY PENSION FUNDS
dc.subjectMARK-TO-MARKET
dc.subjectMARKET RISKS
dc.subjectMARKET VALUATION
dc.subjectMARKET VOLATILITY
dc.subjectMATURITY
dc.subjectMINIMUM PENSION
dc.subjectMINIMUM PENSIONS
dc.subjectMULTI-PILLAR PENSION SYSTEM
dc.subjectMULTI-PILLAR PENSION SYSTEMS
dc.subjectMULTI-PILLAR SYSTEM
dc.subjectMULTIPILLAR SYSTEMS
dc.subjectNORMAL RETIREMENT AGE
dc.subjectOLDER WORKERS
dc.subjectOPPORTUNITY COSTS
dc.subjectPAY AS YOU GO
dc.subjectPAY AS YOU GO SYSTEM
dc.subjectPAY-AS-YOU-GO PENSION SYSTEMS
dc.subjectPAY-AS-YOU-GO SYSTEMS
dc.subjectPENSION
dc.subjectPENSION BENEFIT
dc.subjectPENSION BENEFITS
dc.subjectPENSION EXPENDITURES
dc.subjectPENSION FUND
dc.subjectPENSION FUND ASSETS
dc.subjectPENSION FUND RETURNS
dc.subjectPENSION FUNDS
dc.subjectPENSION LIABILITY
dc.subjectPENSION MARKETS
dc.subjectPENSION PAYMENTS
dc.subjectPENSION REFORM
dc.subjectPENSION REFORM PRIMER
dc.subjectPENSION SYSTEM
dc.subjectPENSION SYSTEMS
dc.subjectPENSION WEALTH
dc.subjectPENSION-SCHEME
dc.subjectPENSIONS
dc.subjectPOLICY RESPONSES
dc.subjectPORTFOLIOS
dc.subjectPRICE MOVEMENTS
dc.subjectPRIVATE PENSIONS
dc.subjectPUBLIC INFORMATION CAMPAIGN
dc.subjectPUBLIC PENSION
dc.subjectPUBLIC PENSION SCHEMES
dc.subjectPUBLIC POLICIES
dc.subjectPUBLIC SCHEMES
dc.subjectRATE OF RETURN
dc.subjectRECESSION
dc.subjectREGULATORS
dc.subjectREPLACEMENT RATES
dc.subjectRESERVE
dc.subjectRESERVE FUND
dc.subjectRESERVES
dc.subjectRETIREES
dc.subjectRETIREMENT
dc.subjectRETIREMENT AGE
dc.subjectRETIREMENT BENEFIT
dc.subjectRETIREMENT BENEFITS
dc.subjectRETIREMENT INCOME
dc.subjectRETIREMENT INCOME SYSTEMS
dc.subjectRETIREMENT INCOMES
dc.subjectRETIREMENT SAVINGS
dc.subjectRETIREMENT SYSTEM
dc.subjectRETIREMENT SYSTEMS
dc.subjectRETIREMENT-INCOME
dc.subjectRETIRING WORKERS
dc.subjectRISK MANAGEMENT
dc.subjectSALARIES
dc.subjectSAVINGS
dc.subjectSAVINGS ACCOUNTS
dc.subjectSOCIAL INSURANCE
dc.subjectSOCIAL INSURANCE CONTRIBUTIONS
dc.subjectSOCIAL INSURANCE SYSTEM
dc.subjectSOCIAL PENSION
dc.subjectSOCIAL PENSIONS
dc.subjectSUPERVISION OF PENSION FUNDS
dc.subjectSUPPORT PROGRAM
dc.subjectTRANSPARENCY
dc.subjectUNEMPLOYMENT
dc.subjectUNFUNDED PENSION
dc.subjectVALUATION
dc.subjectVALUE OF PENSION
dc.subjectWAGE
dc.subjectWILL
dc.subjectWITHDRAWAL
dc.titleThe Financial Crisis and Mandatory Pension Systems in Developing Countries : Short-and Medium-Term Responses for Retirement Income Systemsen
dspace.entity.typePublication
okr.crosscuttingsolutionareaGender
okr.date.doiregistration2025-04-29T09:11:22.001911Z
okr.doctypePublications & Research::Brief
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/2008/12/10106891/financial-crisis-mandatory-pension-systems-developing-countries-short-and-medium-term-responses-retirement-income-systems
okr.globalpracticeSocial Protection and Labor
okr.globalpracticeFinance and Markets
okr.globalpracticeGovernance
okr.globalpracticeTrade and Competitiveness
okr.guid969751468139509934
okr.identifier.externaldocumentum000333037_20081216005751
okr.identifier.internaldocumentum10106891
okr.identifier.report46853
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2008/12/16/000333037_20081216005751/Rendered/PDF/468530WP0Box331l1Crisis1Dec11012008.pdfen
okr.topicPensions and Retirement Systems
okr.topicGender::Gender and Law
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicPrivate Sector Development::Emerging Markets
okr.topicSocial Protections and Labor
okr.unitSocial Protection Team (HDNSP)
okr.volume1 of 1
relation.isAuthorOfPublication63663214-e8c1-5318-a6f5-0c4de21dd09a
relation.isAuthorOfPublication.latestForDiscovery63663214-e8c1-5318-a6f5-0c4de21dd09a
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