Publication:
Global Pension Systems and Their Reform : Worldwide Drivers, Trends, and Challenges

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dc.contributor.authorHolzmann, Robert
dc.date.accessioned2013-05-28T17:07:52Z
dc.date.available2013-05-28T17:07:52Z
dc.date.issued2012-05
dc.description.abstractAcross the world, pension systems and their reforms are in a constant state of flux driven by shifting objectives, moving reform needs, and a changing enabling environment. The ongoing worldwide financial crisis and the adjustment to an uncertain 'new normal' will make future pension systems different from past ones. The objectives of this policy review paper are threefold: (i) to briefly review recent and ongoing key changes that are triggering reforms; (ii) to outline the main reform trends across pension pillars; and (iii) to identify a few areas on which the pension reform community will need to focus to make a difference. The latter includes: creating solutions after the marginalization or, perhaps, demise of Bismarckian systems in countries with high rates of informality; keeping the elderly in the labor market; and addressing the uncertainty of longevity increases in pension schemes.en
dc.identifierhttp://documents.worldbank.org/curated/en/2012/05/16272522/global-pension-systems-reform-worldwide-drivers-trends-challenges
dc.identifier.doi10.1596/13557
dc.identifier.urihttps://hdl.handle.net/10986/13557
dc.languageEnglish
dc.language.isoen_US
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesSocial Protection and Labor Discussion Paper;No. 1213
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectACCOUNTING
dc.subjectACCRUAL RATE
dc.subjectACCUMULATED SAVINGS
dc.subjectADMINISTRATIVE COSTS
dc.subjectADVANCED COUNTRIES
dc.subjectADVANCED ECONOMIES
dc.subjectANNUITIES
dc.subjectANNUITY
dc.subjectANNUITY MARKET
dc.subjectANNUITY MARKETS
dc.subjectASSET CLASSES
dc.subjectASSET MANAGEMENT
dc.subjectASSET PRICES
dc.subjectBANK SUPERVISION
dc.subjectBANKS
dc.subjectBASIS POINTS
dc.subjectBENEFIT LEVEL
dc.subjectCASH FLOW
dc.subjectCASH TRANSFER
dc.subjectCASH TRANSFER PROGRAMS
dc.subjectCASH TRANSFERS
dc.subjectCLEARING HOUSES
dc.subjectCONDITIONAL CASH
dc.subjectCONSUMPTION SMOOTHING
dc.subjectCONTRIBUTION PERIODS
dc.subjectCONTRIBUTION RATE
dc.subjectCONTRIBUTION RATES
dc.subjectCREDIBILITY
dc.subjectDEBT
dc.subjectDEBT REDUCTION
dc.subjectDEFICITS
dc.subjectDEFINED BENEFIT
dc.subjectDEFINED CONTRIBUTION PENSIONS
dc.subjectDEFINED CONTRIBUTIONS
dc.subjectDEMOGRAPHIC
dc.subjectDEVELOPING COUNTRIES
dc.subjectECONOMIC GROWTH
dc.subjectELDERLY
dc.subjectEMERGING ECONOMIES
dc.subjectEMPLOYMENT PROJECT
dc.subjectENABLING ENVIRONMENT
dc.subjectENABLING ENVIRONMENTS
dc.subjectFERTILITY
dc.subjectFERTILITY RATES
dc.subjectFINANCIAL ASSETS
dc.subjectFINANCIAL CRISIS
dc.subjectFINANCIAL MARKET
dc.subjectFINANCIAL MARKET DEVELOPMENT
dc.subjectFINANCIAL PERFORMANCE
dc.subjectFINANCIAL SECTOR
dc.subjectFINANCIAL STABILITY
dc.subjectFISCAL CONDITIONS
dc.subjectFOOD PRICE
dc.subjectFUND ASSET
dc.subjectFUND ASSETS
dc.subjectFUNDED PENSION
dc.subjectFUNDED SCHEMES
dc.subjectFUNDED SYSTEMS
dc.subjectFUTURE PENSION
dc.subjectGLOBAL PENSION
dc.subjectGLOBALIZATION
dc.subjectGOVERNMENT BONDS
dc.subjectGROWTH RATE
dc.subjectHEALTH CARE
dc.subjectHEALTH INSURANCE
dc.subjectIMPLICIT PENSION DEBT
dc.subjectINCENTIVE STRUCTURE
dc.subjectINCOME
dc.subjectINCOME GROUPS
dc.subjectINCOME SUPPORT
dc.subjectINCOME TRANSFERS
dc.subjectINDIVIDUAL ACCOUNT
dc.subjectINDIVIDUAL ACCOUNT SYSTEMS
dc.subjectINDIVIDUAL ACCOUNTS
dc.subjectINFLATION
dc.subjectINFORMAL SECTOR
dc.subjectINFORMAL WORKERS
dc.subjectINFORMATION ASYMMETRY
dc.subjectINSURANCE
dc.subjectINSURANCE COMPANIES
dc.subjectINSURERS
dc.subjectINTEREST RATE
dc.subjectINTERNATIONAL BANK
dc.subjectINTERNATIONAL LABOUR ORGANIZATION
dc.subjectINTERNATIONAL SOCIAL SECURITY
dc.subjectLABOR FORCE
dc.subjectLABOR FORCE GROWTH
dc.subjectLABOR MARKET
dc.subjectLABOR MARKETS
dc.subjectLEVY
dc.subjectLIFE EXPECTANCIES
dc.subjectLIFE EXPECTANCY
dc.subjectLIQUIDITY
dc.subjectLONGEVITY RISK
dc.subjectLONGEVITY RISKS
dc.subjectMARKET DISTORTIONS
dc.subjectMARKET ECONOMIES
dc.subjectMOBILE PHONES
dc.subjectMONETARY FUND
dc.subjectMORTALITY
dc.subjectNATURAL DISASTERS
dc.subjectOLD AGE
dc.subjectOLD AGE CRISIS
dc.subjectOLD AGE PENSIONS
dc.subjectOLD-AGE INCOME
dc.subjectOLDER PEOPLE
dc.subjectPENSION COVERAGE
dc.subjectPENSION FUND
dc.subjectPENSION FUND ASSET
dc.subjectPENSION FUND ASSETS
dc.subjectPENSION FUNDS
dc.subjectPENSION PLAN
dc.subjectPENSION PRODUCTS
dc.subjectPENSION PROVISION
dc.subjectPENSION REFORM
dc.subjectPENSION REFORM DESIGN
dc.subjectPENSION REFORMS
dc.subjectPENSION RESERVE
dc.subjectPENSION RIGHTS
dc.subjectPENSION SCHEME
dc.subjectPENSION SCHEMES
dc.subjectPENSION SYSTEM
dc.subjectPENSION SYSTEM REFORM
dc.subjectPENSION SYSTEMS
dc.subjectPILLAR PENSION
dc.subjectPOOR
dc.subjectPORTFOLIO
dc.subjectPORTFOLIOS
dc.subjectPOVERTY REDUCTION
dc.subjectPRICE VOLATILITY
dc.subjectPRIVATIZATION
dc.subjectPRODUCTIVITY
dc.subjectPROTECTION SYSTEMS
dc.subjectPUBLIC BUDGETS
dc.subjectPUBLIC DEBT
dc.subjectPUBLIC DEFICIT
dc.subjectPUBLIC INTERVENTION
dc.subjectPUBLIC PENSION
dc.subjectPUBLIC PENSION REFORM
dc.subjectPUBLIC PILLAR
dc.subjectPUBLIC SUPPORT
dc.subjectRATE OF RETURN
dc.subjectRATE OF RETURNS
dc.subjectRATES OF RETURN
dc.subjectRATES OF RETURNS
dc.subjectREAL ASSET
dc.subjectRESERVE
dc.subjectRESERVE FUND
dc.subjectRESERVE FUNDS
dc.subjectRETIREMENT
dc.subjectRETIREMENT ACCOUNTS
dc.subjectRETIREMENT AGE
dc.subjectRETIREMENT AGES
dc.subjectRETIREMENT BENEFITS
dc.subjectRETIREMENT INCOME
dc.subjectRETIREMENT INCOME PROVISIONS
dc.subjectRETIREMENT INCOME SCHEME
dc.subjectRETIREMENT INCOME SYSTEMS
dc.subjectRETIREMENT PRODUCTS
dc.subjectRETIREMENT-INCOME
dc.subjectRETIRING WORKERS
dc.subjectRISK DIVERSIFICATION
dc.subjectRISK SHARING
dc.subjectRURAL POPULATION
dc.subjectSAFETY NET PROGRAMS
dc.subjectSAFETY NETS
dc.subjectSAVINGS
dc.subjectSCHOOL FEEDING
dc.subjectSELF-EMPLOYMENT
dc.subjectSEVERANCE PAY
dc.subjectSHORT-TERM LIQUIDITY
dc.subjectSOCIAL ASSISTANCE
dc.subjectSOCIAL BENEFITS
dc.subjectSOCIAL FUNDS
dc.subjectSOCIAL INSURANCE
dc.subjectSOCIAL INSURANCE AGENCY
dc.subjectSOCIAL INSURANCE SYSTEMS
dc.subjectSOCIAL PENSION
dc.subjectSOCIAL PENSIONS
dc.subjectSOCIAL POLICY
dc.subjectSOCIAL PROTECTION
dc.subjectSOCIAL PROTECTION STRATEGY
dc.subjectSOCIAL SAFETY NET
dc.subjectSOCIAL SAFETY NETS
dc.subjectSOCIAL SECURITY
dc.subjectSOCIAL SERVICE
dc.subjectSOLVENCY
dc.subjectSURVIVOR PENSIONS
dc.subjectTAX
dc.subjectTEMPORARY EMPLOYMENT
dc.subjectTRANSACTIONS COSTS
dc.subjectTRANSITION ECONOMIES
dc.subjectTREATY
dc.subjectUNEMPLOYMENT
dc.subjectUNEMPLOYMENT BENEFITS
dc.subjectUNFUNDED PENSIONS
dc.subjectUNIVERSAL BENEFITS
dc.subjectVALUATION
dc.subjectVOCATIONAL TRAINING
dc.subjectVOLATILITY
dc.subjectVULNERABLE INDIVIDUALS
dc.subjectWAGES
dc.subjectaging population
dc.titleGlobal Pension Systems and Their Reform : Worldwide Drivers, Trends, and Challengesen
dspace.entity.typePublication
okr.date.disclosure2012-05-16
okr.date.doiregistration2025-05-05T12:27:58.360981Z
okr.doctypePublications & Research::Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/2012/05/16272522/global-pension-systems-reform-worldwide-drivers-trends-challenges
okr.globalpracticeSocial Protection and Labor
okr.globalpracticeFinance and Markets
okr.globalpracticeTrade and Competitiveness
okr.guid923201468159904972
okr.identifier.externaldocumentum000333038_20120517011339
okr.identifier.internaldocumentum16272522
okr.identifier.report68934
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2012/05/17/000333038_20120517011339/Rendered/PDF/689340NWP00PUB00labor0121300PUBLIC0.pdfen
okr.topicSocial Protections and Labor::Safety Nets and Transfers
okr.topicPensions and Retirement Systems
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicBanks and Banking Reform
okr.topicPrivate Sector Development::Emerging Markets
okr.unitSocial Protection Team (HDNSP)
relation.isAuthorOfPublicationb036b47b-8d48-5ef8-81c6-543fe1f7c99d
relation.isAuthorOfPublication.latestForDiscoveryb036b47b-8d48-5ef8-81c6-543fe1f7c99d
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