Publication: The Financial Crisis and Mandatory Pension Systems in Developing Countries : Short-and Medium-Term Responses for Retirement Income Systems
Date
2008-12
ISSN
Published
2008-12
Author(s)
Abstract
The 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.
Citation
“Dorfman, Mark; Hinz, Richard; Robalino, David. 2008. The Financial Crisis and Mandatory Pension Systems in Developing
Countries : Short-and Medium-Term Responses for Retirement Income Systems. World Bank Pension Reform Primer Series. © World Bank, Washington, DC. http://openknowledge.worldbank.org/handle/10986/11130 License: CC BY 3.0 IGO.”