World Bank2012-03-192012-03-192010-03-03https://hdl.handle.net/10986/2847This report aims to provide additional insights to existing analyses of public pension and social security schemes in the Caribbean. Such analyses have been undertaken with the support of the Inter-American Development Bank, the Caribbean Development Bank, the Canadian International Development Agency, the Economic Commission for Latin America, and the Caribbean and the International Social Security Association. By making cross-country comparisons within the region and across the world, this report will review fiscal vulnerability, sustainability, labor market efficiency, migration, financial market development, and other pension-related areas. Finally, governance and investment management should be strengthened by: (i) strengthening the governance structure, including authority and accountability of Board members; (ii) improving governance mechanisms with the assistance of external oversight and improved information disclosure; (iii) introducing codes of conduct for the governing body and management; and (iv) introducing a number of measures to strengthen the investment policies, investment strategy, asset allocation, and performance evaluation.CC BY 3.0 IGOACCRUAL RATEACCRUAL RATESADVERSE EFFECTSAGE SUPPORTASSET PRICESASSET VALUESAVERAGE BENEFITAVERAGE WAGE GROWTHBASIC PENSIONBASIC PENSIONSBENEFICIARIESBENEFIT ADJUSTMENTSBENEFIT INDEXATIONBENEFIT LEVELBENEFIT LEVELSBENEFIT PAYMENTSCENTRAL BANKCIVIL SERVICE PENSIONCODES OF CONDUCTCOMMODITYCOMMODITY EXPORTSCONSUMPTION SMOOTHINGCONTINGENT LIABILITYCONTRIBUTION PERIODCONTRIBUTION PERIODSCONTRIBUTION RATECONTRIBUTION RATESCONVERSIONSCORRUPTIONCREDIBILITYCURRENCYDEBT BURDENDEBT BURDENSDEBT LEVELSDEFICITSDEFINED BENEFITSDEFINED-BENEFIT SCHEMEDEFINED-BENEFIT SCHEMESDEMOGRAPHICDEMOGRAPHIC CHANGEDEPENDENCY RATIOSDEVELOPMENT BANKDISABILITY PENSIONDISBURSEMENTSEARNINGS REPLACEMENTECONOMIC CRISISECONOMIC DOWNTURNECONOMIC VOLATILITYELDERLYEMPLOYEEFERTILITYFERTILITY RATESFINANCIAL ASSETSFINANCIAL CRISISFINANCIAL DISTRESSFINANCIAL MARKETFINANCIAL MARKET DEVELOPMENTFINANCIAL MARKETSFINANCIAL MARKETS DEVELOPMENTFINANCIAL PERFORMANCEFINANCIAL SECTORFINANCIAL SUSTAINABILITYFINANCIAL WEAKNESSESFORMAL PENSIONFORMAL PENSION SYSTEMFULL-CAREER WORKERFULL-CAREER WORKERSGLOBAL ECONOMIC PROSPECTSGLOBALIZATIONGOOD GOVERNANCEGOVERNANCE MECHANISMSGOVERNANCE STANDARDSGOVERNMENT EXPENDITUREGOVERNMENT PENSIONGROWTH RATEGROWTH RATESGUARANTEED BENEFITHARMONIZATIONHUMAN DEVELOPMENTIMPLICIT PENSION DEBTINCOME GROUPSINCOME LEVELSINCOME SMOOTHINGINDIVIDUAL ACCOUNTINDIVIDUAL ACCOUNTSINDIVIDUAL RETIREMENT ACCOUNTSINFLATIONINFORMAL ECONOMYINFORMATION DISCLOSUREINFORMATION SHARINGINSTITUTIONAL CAPACITYINSURANCEINTEREST RATESINTERNATIONAL DEVELOPMENTINTERNATIONAL STANDARDSINVESTMENT MANAGEMENTINVESTMENT PERFORMANCEINVESTMENT POLICIESINVESTMENT RISKINVESTMENT RISKSINVESTMENT STRATEGYLABOR FORCELABOR MARKETLABOR MARKETSLEVEL OF RISKLIFE EXPECTANCYLIQUIDATIONLIQUIDITYLOANMACROECONOMIC ENVIRONMENTMANDATORY RETIREMENTMANDATORY SCHEMESMARKET DISTORTIONSMARKET ECONOMYMARKET EFFICIENCYMATURITYMINIMUM BENEFITMINIMUM INCOMEMONETARY FUNDMULTI-PILLAR SYSTEMNORMAL RETIREMENT AGEOCCUPATIONAL SCHEMESOLD-AGE INCOMEOUTPUTPAYROLL TAXPENSIONPENSION AGEPENSION ARRANGEMENTSPENSION BENEFITPENSION BENEFITSPENSION CONTRIBUTIONSPENSION DEBTPENSION ENTITLEMENTPENSION ENTITLEMENTSPENSION EXPENDITURESPENSION FUNDPENSION FUND MANAGERSPENSION FUNDSPENSION INVESTMENTSPENSION LIABILITIESPENSION POLICYPENSION PROGRAMSPENSION PROVISIONPENSION PROVISIONSPENSION REFORMPENSION RESERVESPENSION RIGHTSPENSION SCHEMEPENSION SCHEMESPENSION SYSTEMPENSION SYSTEMSPENSION WEALTHPENSIONABLE AGEPENSIONABLE EARNINGSPENSIONERPENSIONERSPENSIONSPOLICY RESPONSESPOVERTY ALLEVIATIONPRICE GROWTHPRIVATE PENSIONPRIVATE PENSION FUNDSPROVIDENT FUNDSPRUDENTIAL REGULATIONPUBLIC DEBTPUBLIC PENSIONPUBLIC PENSIONSPUBLIC SCHEMESPUBLIC SPENDINGRATES OF RETURNREGULATORY FRAMEWORKREGULATORY STANDARDSREGULATORY SYSTEMSREMITTANCESREPLACEMENT RATEREPLACEMENT RATESRESERVERETIREERETIREESRETIREMENTRETIREMENT AGERETIREMENT AGESRETIREMENT BENEFITSRETIREMENT INCOMERETIREMENT PENSIONRETIREMENT SYSTEMSRETURNSREVENUE SHORTFALLSRISK DIVERSIFICATIONRISK MANAGEMENTSAVINGSSAVINGS ACCOUNTSSECURITY AGREEMENTSECURITY AGREEMENTSSINGLE MARKETSOCIAL ASSISTANCESOCIAL PENSIONSOCIAL PENSIONSSOCIAL PROTECTIONSOCIAL PROTECTION STRATEGIESSOCIAL SECURITYSOCIAL SECURITY BENEFITSOCIAL SECURITY BENEFITSSOCIAL SECURITY REFORMSSOCIAL SECURITY SYSTEMSTOCKSTAX SYSTEMTRANSPARENCYVOLATILITYWAGE GROWTHWAGE TAXESWORKER CONTRIBUTIONSWORLD DEVELOPMENT INDICATORSWorld Bank10.1596/2847