Independent Evaluation Group2012-06-042012-06-042006978-0-8213-6551-9https://hdl.handle.net/10986/6956This report analyzes the Bank's assistance to support pension reform to determine if the Bank's strategy was relevant and if it was followed. The evaluation assesses whether pension reform decisions reflected best practice guidelines at entry, and whether Bank-assisted reforms achieved their social, macroeconomic, and financial objectives. The report also evaluates the Bank's assistance in building institutional capacity, coordinating within the Bank, and cooperating with other international organizations. Finally, the evaluation summarizes these findings and presents specific recommendations for the future.en-USCC BY 3.0 IGOACCOUNTABILITYADMINISTRATIVE COSTSBUDGET DEFICITSCAPITAL MARKETSCAPITALIZATIONDEVELOPMENT OUTCOMESECONOMIC GROWTHEMPLOYMENTEVALUATION CAPACITYFINANCIAL RISKFINANCIAL STRUCTUREFINANCIAL SYSTEMSFISCAL BALANCEFISCAL DEFICITFISCAL DEFICITSFISCAL IMBALANCESFISCAL POLICYFISCAL STABILITYFISCAL SUSTAINABILITYFUNDED PENSION SYSTEMSFUNDED PENSIONSFUNDED SYSTEMSINFLATIONINVESTMENT RISKLABOR MARKETSMACROECONOMIC POLICIESMACROECONOMIC STABILITYMARKET DEVELOPMENTMULTI-PILLAR REFORMSMULTI-PILLAR SYSTEMMULTI-PILLAR SYSTEMSPENSIONPENSION ADMINISTRATIONPENSION COVERAGEPENSION FUNDSPENSION PLANSPENSION REFORMPENSION REFORM PROCESSPENSION REFORMSPENSION REGULATIONPENSION SYSTEMPENSION SYSTEMSPENSIONERSPENSIONSPOLITICAL COMMITMENTPOVERTY REDUCTIONPROGRAMSPUBLIC FINANCESREDUCING POVERTYREGULATORY SYSTEMSRETIREESRETIREMENTRETIREMENT AGERETIREMENT INCOMERETIREMENT INCOME SECURITYRETIREMENT SAVINGSREVENUE REFORMSAFETY NETSSAVINGS RATESSOCIAL ASSISTANCESOCIAL PENSIONSSOCIAL PROTECTIONSOCIAL SAFETY NETSOCIAL SAFETY NETSSUBSIDIARYTECHNICAL ASSISTANCEWAGE GROWTHWorld Bank10.1596/978-0-8213-6551-9