Palacios, RobertWhitehouse, Edward2014-09-172014-09-172006-05https://hdl.handle.net/10986/20205There are separate pension schemes for civil servants in about half of the world s countries, including some of the largest developing economies, such as Brazil, China and India. In the higher-income, OECD countries, spending on pensions for public-sector workers makes up one quarter of total pension spending. In less developed countries, this proportion is usually higher. Yet, very little has been written on the design and reform of civil-service pension plans, especially when compared with the voluminous literature on national pension programs. This paper compares civil service pension schemes across countries in terms of benefit provision and cost. We find that in many developing countries, these expenditures are a greater fiscal burden than in higher income countries where the tax base is larger. The paper also compares schemes within the same country covering private sector workers. Finally, we review key policy issues related to pension schemes covering civil servants as well as other public sector workers. In particular, we find that there is little justification for maintaining parallel schemes in the long run.en-USCC BY 3.0 IGOACCRUAL RATEACCRUAL RATESADVERSE SELECTIONAGE COMPOSITIONARREARSASYMMETRIES OF INFORMATIONBALANCE SHEETBANKRUPTCYBARRIERBASIC PENSIONBENEFICIARIESBENEFIT FORMULABENEFIT FORMULAEBENEFIT LEVELSBONDCASH FLOWCIVIL SERVANTCIVIL SERVANTSCIVIL SERVICECIVIL SERVICE PENSIONCIVIL SERVICE PENSIONSCOLLECTIVE AGREEMENTSCOMPENSATION PACKAGECONFLICTS OF INTERESTCONSUMPTION SMOOTHINGCONTRIBUTION PERIODCONTRIBUTION RATECONTRIBUTION RATESCUSTOMS OFFICIALSDEFICITSDEFINED BENEFITDEFINED BENEFIT SCHEMESDEFINED BENEFITSDEFINED-BENEFIT SCHEMEDEFINED-BENEFIT SCHEMESDEFINED-CONTRIBUTION PENSIONSDEMOGRAPHICDEPOSITDEVELOPING COUNTRIESDEVELOPING ECONOMIESDISCOUNT RATEDISCOUNT RATESDIVESTMENTEARLY RETIREMENTEARNINGEARNINGS GROWTHEMPLOYEEEMPLOYER CONTRIBUTIONEMPLOYER CONTRIBUTIONSEMPLOYMENTEXPENDITUREEXPENDITURESFINANCESFINANCIAL SUPPORTFINANCING ARRANGEMENTSFISCAL BURDENFISCAL CONSTRAINTSFISCAL DEFICITFISCAL DISCIPLINEFISCAL POLICYFORMAL PENSIONFORMAL SECTOR WORKERSFULL-CAREER WORKERFUNDED BASISFUNDED COMPONENTSFUNDED SCHEMEFUTURE PENSIONGOVERNMENT BONDSGOVERNMENT BUDGETGOVERNMENT REVENUESHARMONIZATIONHUMAN CAPITALHUMAN RESOURCEHUMAN RESOURCESIMPLICIT DEBTIMPLICIT PENSION DEBTINCOME STREAMINDIVIDUAL ACCOUNTSINFLATIONINFORMATIONAL ASYMMETRIESJOB TENUREJOBSJURISDICTIONLABOR DEMANDLABOR FORCELABOR MARKETLABOR MARKET IMPACTLABOR MARKETSLABOR MOBILITYLABOR TURNOVERLABORERSLABOURLABOUR FORCELEGAL CHANGESLEVYLIABILITYLIFE EXPECTANCYLOCAL AUTHORITIESLONG-TERM PROJECTIONSLOW-INCOME COUNTRIESMANDATORY RETIREMENTMARKET DISTORTIONSMARKET FAILUREMARKET FAILURESMIDDLE-INCOME COUNTRIESMONOPOLYMORAL HAZARDNATIONAL GOVERNMENTNATIONAL PENSIONNET WAGENET WAGESNORMAL RETIREMENT AGENOTIONAL ACCOUNTSNUMBER OF BENEFICIARIESOCCUPATIONAL PENSIONSOCCUPATIONAL SCHEMESOLDER WORKERSOPPORTUNITY COSTOUTSOURCINGPAYGOPENSIONPENSION AGEPENSION AGESPENSION ARRANGEMENTSPENSION BENEFITPENSION BENEFITSPENSION CONTRIBUTIONSPENSION COSTPENSION COVERAGEPENSION DEBTPENSION ENTITLEMENTPENSION FUNDPENSION LIABILITIESPENSION PLANSPENSION POLICYPENSION PROGRAMPENSION PROGRAMMESPENSION PROGRAMSPENSION PROVISIONPENSION REFORMPENSION REGULATORSPENSION RIGHTSPENSION SCHEMEPENSION SCHEMESPENSION SPENDINGPENSION SYSTEMPENSION SYSTEM REFORMPENSION SYSTEMSPENSION VALUESPENSION WEALTHPENSION-SCHEMEPENSIONERSPENSIONSPOLITICAL ECONOMYPRESENT VALUEPREVIOUS DISCUSSIONPREVIOUS PARAGRAPHPRICE GROWTHPRIVATE SECTORPRIVATE SECTOR WORKERPRIVATE SECTOR WORKERSPRIVATE SECTORSPRIVATIZATIONPROVIDENT FUNDPUBLIC DEBTPUBLIC SECTOR DOWNSIZINGPUBLIC SECTOR WORKERSPUBLIC SERVICEPUBLIC SPENDINGRATE OF GROWTHRATE OF RETURNREAL WAGESREASONABLE ASSUMPTIONREFORM PROCESSREPLACEMENT RATEREPLACEMENT RATESRESERVESRETIREMENTRETIREMENT AGERETIREMENT AGESRETIREMENT INCOMERETIREMENT INCOMESRETIREMENT OPTIONSRETIREMENT PROGRAMRETIREMENT-INCOMERETIREMENT-INCOME ARRANGEMENTSRETIREMENT-INCOME PROVISIONRETIRING WORKERSAVINGSSERVANTSSERVICE EMPLOYMENTSEVERANCE PAYMENTSSOCIAL ASSISTANCESOCIAL POLICYSOCIAL PROTECTIONSTATE GOVERNMENTSTATE INSTITUTIONSSUPPLEMENTARY PENSIONTAXTECHNICAL ASSISTANCETHRIFT SAVINGS PLANTRADE UNIONTRANSACTIONTRANSPARENCYTURNOVERUNEMPLOYMENTUNFUNDED LIABILITIESWAGE BILLWAGE COMPRESSIONWAGE DIFFERENTIALSWAGE INCREASEWARRANTSWORKERSYOUNGER WORKERS10.1596/20205