Working Paper

Pension Funds with Automatic Enrollment Schemes : Lessons for Emerging Economies

Show simple item record

collection.link.5
https://openknowledge.worldbank.org/handle/10986/9
collection.name.5
Policy Research Working Papers
dc.contributor.author
Rudolph, Heinz P.
dc.date.accessioned
2019-02-07T17:43:04Z
dc.date.available
2019-02-07T17:43:04Z
dc.date.issued
2019-02
dc.description.abstract
Since the introduction of the KiwiSaver scheme in New Zealand in 2006, several countries have implemented, or are in the process of implementing, voluntary funded pension systems with automatic enrollment features. Since most of the literature has focused on countries with the common law tradition, including the United Kingdom and the United States, this note analyzes cases of countries with the civil code tradition, including Turkey, Poland, the Russian Federation, Chile, Brazil, and the Province of Quebec in Canada. This sample includes mostly emerging economies, with reforms at different stages, from those that have already been completed to those that are about to start discussions in their parliaments. Although they are not a substitute for necessary parametric reforms, automatic enrollment schemes offer the possibility of improvements in future retirement income for a significant part of the labor force. This note stresses that the paternalistic approach of automatic enrollment schemes imposes a great degree of responsibility on governments and requires careful consideration of the design of the system, including the industrial organization of the pension fund industry and default investment strategies. Sufficient time and resources for preparing communication and educational campaigns has played a key role in achieving high rates of participation.
en
dc.identifier
http://documents.worldbank.org/curated/en/368081549376313709/Pension-Funds-with-Automatic-Enrollment-Schemes-Lessons-for-Emerging-Economies
dc.identifier.uri
http://hdl.handle.net/10986/31230
dc.language
English
dc.publisher
World Bank, Washington, DC
dc.relation.ispartofseries
Policy Research Working Paper;No. 8726
dc.rights
CC BY 3.0 IGO
dc.rights.holder
World Bank
dc.rights.uri
http://creativecommons.org/licenses/by/3.0/igo
dc.subject
PENSION FUNDS
dc.subject
AUTOMATIC ENROLLMENT
dc.subject
CONTRIBUTORY PENSIONS
dc.subject
EMERGING MARKET ECONOMIES
dc.subject
PENSION REFORM
dc.title
Pension Funds with Automatic Enrollment Schemes
en
dc.title.subtitle
Lessons for Emerging Economies
en
dc.type
Working Paper
en
okr.date.disclosure
2019-02-05
okr.doctype
Publications & Research
okr.doctype
Publications & Research :: Policy Research Working Paper
okr.docurl
http://documents.worldbank.org/curated/en/368081549376313709/Pension-Funds-with-Automatic-Enrollment-Schemes-Lessons-for-Emerging-Economies
okr.googlescholar.linkpresent
yes
okr.identifier.doi
10.1596/1813-9450-8726
okr.identifier.externaldocumentum
090224b08691e965_1_0
okr.identifier.internaldocumentum
30810037
okr.identifier.report
WPS8726
okr.imported
true
en
okr.language.supported
en
okr.pdfurl
http://documents.worldbank.org/curated/en/368081549376313709/pdf/WPS8726.pdf
en
okr.region.administrative
Europe and Central Asia
okr.region.administrative
Latin America & Caribbean
okr.region.country
Brazil
okr.region.country
Canada
okr.region.country
Chile
okr.region.country
Poland
okr.region.country
Russian Federation
okr.region.country
Turkey
okr.topic
Finance and Financial Sector Development :: Non Bank Financial Institutions
okr.topic
Social Protections and Labor :: Pensions & Retirement Systems
okr.topic
Social Protections and Labor :: Social Funds and Pensions
okr.unit
Finance, Competitiveness and Innovation Global Practice

Show simple item record



This item appears in the following Collection(s)