World Bank2012-08-132012-08-132000-01https://hdl.handle.net/10986/11442Collecting contributions is more complicated in a decentralized pension system, based on individual accounts, than in a public system. Many public plans provide a defined benefit pension based on only a few years' earnings, which limits the need for keeping records of people's earnings and contributions in every year of their working life. And there is usually a choice of pension fund manager with individual accounts. Collection, record-keeping and transferring contributions to individual accounts has often proved problematic. Some reforms have been delayed or abandoned because of collection problems. Using a series of case studies of Latin American and European countries, this briefing highlights policy choices in operating individual accounts systems.CC BY 3.0 IGOADMINISTRATIVE COSTSADMINISTRATIVE DISCRETIONAUTHORITYBANKING SYSTEMCASH-FLOWCENTRALIZATIONCHECKINGCLEARING HOUSECLEARING SYSTEMSCOLLECTION AGENCIESCONTRIBUTION COLLECTIONCONTRIBUTION RATESCONTRIBUTION TRANSFERSCORRUPTIONDECENTRALIZED COLLECTIONENFORCEMENT POWERSFINANCIAL INSTITUTIONFUNDED PENSIONSGOVERNMENT AGENCIESGROSS WAGESHUMAN DEVELOPMENT NETWORKINCOME TAXESINDIRECT COSTINDIVIDUAL ACCOUNTSINFLATIONINSTITUTIONAL WEAKNESSESINSURANCEINVESTMENT RETURNSLATIN AMERICANLEGISLATIONLEVIESLIABILITYPENSION FUNDPENSION FUND MANAGERSPENSION FUNDSPENSION REFORMPENSION REFORMSPENSION SYSTEMPENSION SYSTEMSPENSIONSPERSONAL INCOME TAXESPOOR GOVERNANCEPUBLIC AGENCIESPUBLIC AGENCYPUBLIC SECTORPUBLIC SYSTEMSOCIAL PROTECTIONSOCIAL SECURITYSOCIAL SECURITY AGENCYSUPERVISORY AGENCYTAX ADMINISTRATIONTAX AUTHORITIESTAX AUTHORITYTAX COLLECTIONTAX COMPLIANCETAXATIONWorld Bank10.1596/11442