Dorfman, Mark2015-07-292015-07-292015-07https://hdl.handle.net/10986/22339This report provides an initial stocktaking of the characteristics, environment and performance of public and private pensions and elderly assistance programs in Sub-Saharan Africa. It identifies key challenges and suggests reform options for consideration. Considerations for future work and principles for pension policies are also suggested. Two major challenges noted in the report are the need to increase coverage of the labor force by pensions and social insurance schemes, and to increase the proportion of poor elderly covered by social assistance. The report suggests that improving coverage will require a number of parametric reforms to existing contributory schemes, strengthening institutions to serve informal sector workers, and piloting new design options. The report also proposes other parametric reforms, including the harmonization or merger of civil service and national pension schemes. Finally, the report recommends principles to consider for reform, including measures to improve coverage, protect the elderly poor, and better align pension design with needs and enabling conditions, including the needs of rural and informal sector workers.en-USCC BY 3.0 IGOCONTINGENT LIABILITIESREPLACEMENT RATESRETIREMENT INCOME SECURITYLABOR INCOMEPENSION FUND MANAGEMENTOLD-AGE PENSIONDEFINED BENEFIT SCHEMEPENSION FUND MANAGERSPENSION RIGHTSANNUITY FACTORSOCIAL PENSIONSFAMILY SUPPORTBENEFIT FORMULASINFLATION RISKDEFINED- CONTRIBUTION PENSIONLONGEVITY INSURANCELABOR FORCEPENSION ENTITLEMENTSOCIAL SAFETY NETAGING POPULATIONSINFLATION RISKSPENSION REFORMSPRIVATE PENSION FUNDLIFE EXPECTANCYRETIREMENT AGESPENSION PROVISIONSDEFINED CONTRIBUTION PENSIONVOLUNTARY PENSION SCHEMESPENSION PAYMENTPERSONAL PENSION PLANSREPLACEMENT RATEMORAL HAZARDPENSION LAWPENSION CONTRIBUTIONSDEFINED-BENEFIT SCHEMESOCIAL INSURANCE FUNDOCCUPATIONAL PENSION PLANSNATIONAL PENSIONRETIREMENT PENSIONSOCIAL PROTECTIONPUBLIC SCHEMESDEPENDENCY RATIOSMANDATORY SCHEMEPENSION FUNDSMORTALITYLEGAL FRAMEWORKPENSION INVESTMENTELDERLYDEFINED BENEFITACCRUAL RATEPENSION FUND ASSETSSOCIAL SECURITY SYSTEMSFUNDED SCHEMESACCOUNTING METHODSOCCUPATIONAL SCHEMEPRIVATE PENSIONSBENEFIT LEVELNATIONAL PENSIONSSOCIAL WELFAREPENSION ADMINISTRATIONPENSION AGENCYSOCIAL SECURITY AGENCYRETIREMENT SAVINGSWORKER CONTRIBUTIONTAX PURPOSESPENSION SCHEMEANNUITYINVESTMENT RETURNPENSION ASSETSPENSIONERSPENSION DEBTEARNINGS REPLACEMENTEMPLOYEEPENSION BENEFITSMANDATORY SCHEMESPENSION RESERVESPENSION SCHEMESSUPERVISORY AGENCYINSURANCE COMPANIESDEFINED BENEFIT SCHEMESFUNDED SCHEMEPENSION ARRANGEMENTSPUBLIC PENSIONPENSION PROVISIONVOLUNTARY PENSIONSEMPLOYEESCONTRIBUTION BASEINDIVIDUAL ACCOUNTSPENSIONABLE EARNINGSRETIREMENT ACCOUNTINDIVIDUAL BENEFITSRETIREESCONTRIBUTION RECORDSINFORMAL SECTORRETIREMENTSUPERVISORY AUTHORITYLIFE INSURANCEPENSION SYSTEMSPROVIDENT FUNDSDEFINED- BENEFIT SCHEMEPENSION LIABILITIESPORTFOLIO CHOICEAGING POPULATIONPENSION CONTRIBUTIONWELFAREINDEXED ANNUITYHEALTHPRICE INDEXATIONDEFERRED ANNUITYWAGE TAXPENSION SYSTEMSOCIAL SECURITY BENEFITSCONTRIBUTION RATESPENSION SERVICESOCIAL ASSISTANCEPRIVATE PENSIONPENSIONLONGEVITY RISKRETIREMENT INCOME SYSTEMWAGE GROWTHSAFETY NETSPENSION POLICIESPENSION ACCOUNTSBENEFIT SCHEMESCIVIL SERVICE PENSIONSRETIREEPROVIDENT FUNDPENSION FUND MEMBERRETIREMENT ELIGIBILITYRETIREMENT AGEPENSION REGULATIONPENSION PLANSOCIAL INSURANCETAX TREATMENTSRETIREMENT PLANNINGPENSION REFORMSOCIAL SECURITYSUPPLEMENTAL BENEFITDEPENDENCY RATIOPENSION SAVINGSPENSIONERCIVIL SERVICE PENSIONPENSION INCOMEAGE SUPPORTBENEFIT SCHEMEOCCUPATIONAL RETIREMENTSOCIAL SAFETY NETSBENEFIT LEVELSTAX ADVANTAGESFORMAL PENSIONANNUITIESRETIREMENT BENEFITPENSIONSCONTRIBUTION RATEMINIMUM BENEFITSOCIAL POLICYLIFE EXPECTANCIESLONGEVITY RISKSFUTURE PENSIONPENSION REGULATORSAFETY NETINDIVIDUAL ACCOUNTSOCIAL PENSIONSUPERVISORY FRAMEWORKPENSION PROGRAMSFUNDED ACCOUNTSRETIREMENT BENEFITSDEFINED-CONTRIBUTION PENSIONBENEFIT FORMULADEFINED-BENEFIT SCHEMESPENSION ENTITLEMENTSINITIAL REPLACEMENT RATESRETIREMENT FUNDSINVESTMENT RETURNSLONG-TERM PROJECTIONSPUBLIC SYSTEMINVESTMENT MANAGEMENTPENSION BENEFICIARIESPAYROLL TAXOCCUPATIONAL SCHEMESPENSIONABLE AGEPENSION PROVIDERPERSONAL PENSIONPENSION BENEFITSOCIAL CONTRIBUTIONOLDER PERSONSPENSION COSTSTAX TREATMENTPENSION EXPENDITURESOCIAL SECURITY SYSTEMPENSION COVERAGEVOLUNTARY PENSIONNORMAL RETIREMENT AGEPENSION FUNDFERTILITYRETIREMENT INCOMEPENSION PLANSPENSION EXPENDITURESPENSION INVESTMENTSPENSION SPENDINGRETIREMENT SYSTEMSPENSION PROGRAMACCRUAL RATESWorking PaperWorld Bank10.1596/22339