Publication: The World Bank Pension Conceptual Framework
Date
2008-09
ISSN
Published
2008-09
Author(s)
World Bank
Abstract
Since the mid 1980's, the World
Bank has responded to the need to strengthen social
insurance and contractual savings systems providing old age
income support in developing countries. Such support has
also been driven by pressures of global population aging,
the erosion of informal and traditional family support
systems, and weaknesses in the governance and administration
of existing pension systems. The importance of effective
formal sources of retirement income is accentuated by
changes in work and family patterns including the increasing
participation of women in formal employment, rising divorce
rates, diminishing job stability and increases in local and
international labor migration. The Bank's conceptual
framework has emerged from its experience in Bank-supported
reforms and the changing conditions and needs in client
countries. Following the important work of the
mid-1990's, averting the old age crisis that
established key principles and concepts, the Bank's
attention has increasingly focused on refining system
designs to adapt these principles to widely varying
conditions and better address the needs of diverse
populations to manage the risks in old age.
Citation
“World Bank. 2008. The World Bank Pension Conceptual Framework. World Bank Pension Reform Primer Series. © Washington, DC. http://openknowledge.worldbank.org/handle/10986/11139 License: CC BY 3.0 IGO.”