International patterns of pension provision (original) (raw)
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La réforme des pensions: principes, erreurs analytiques et orientations générales
Revue Internationale de Sécurité Sociale, 2009
This article, based on two books (Barr and Diamond 2008, forthcoming), sets out a series of principles for pension design rooted in economic theory: pension systems have multiple objectives, analysis should consider the pension system as a whole, analysis should be framed in a second-best context, different systems share risks differently, and systems have different effects by generation and by gender. That discussion is reinforced by identification of a series of widespread analytical errors -errors that appear in World Bank work, but by no means only in World Bank work: tunnel vision, improper use of first-best analysis, improper use of steady-state analysis, incomplete analysis of implicit pension debt, incomplete analysis of the impact of funding (including excessive focus on financial flows, failure to consider how funding is generated, and improper focus on the type of asset in trust funds), and ignoring distributional effects.
Pension reform and the development of pension systems: An evaluation of World Bank assistance
2006
All rights reserved Manufactured in the United States of America The findings, interpretations, and conclusions expressed here are those of the author(s) and do not necessarily reflect the views of the Board of Executive Directors of the World Bank or the governments they represent. The World Bank cannot guarantee the accuracy of the data included in this work. The boundaries, colors, denominations, and other information shown on any map in the work do not imply on the part of the World Bank any judgment of the legal status of any territory or the endorsement or acceptance of such boundaries. Rights and Permissions The material in this publication is copyrighted. Copying and/or transmitting portions or all of this work without permission may be a violation of applicable law. The World Bank encourages dissemination of its work and will normally grant permission promptly.
Pension Systems Compared: A Polarised Perspective, a Diverse Reality
2020
Globalisation and international competition have a spillover effect on the reforms of pension systems that imposes a similar pattern of dismantling, hardening access to pensions, reducing expenditure and retrenchment in said reforms. The comparative analysis of four countries with different pension systems: two liberal (United Kingdom and Chile) and another two with contributory-proportional systems (Spain and Argentina) serves to determine the details of the reform processes, which discursively seem to have a shared pattern recommended by the international financial and economic institutions.But the reality of the four case studies shows considerable differences in the implementation of the pension reform policies. The reforms depend on the societal context, institutions, history, the role of unions, the government in power, demographic factors and economic perspectives, among other matters. Many countries need to sustain pension systems because they are associated with many pensio...
Pension Reform and International Organizations: From Conflict to Convergence
International Social Security Review, 2000
Analysis of pension schemes and recommendations for their reform have been one of the main items on the agenda of international organizations in recent years. However, the ideas and recommendations of the various organizations involved in pension policy sometimes vary considerably. This paper will explore and compare the ideas on pension policy held by the International Labour Office, the International Social Security Association, the World Bank, the International Monetary Fund and the Organisation for Economic Cooperation and Development. Although, initially, the discussion of pension reform was characterized by fierce debate with a marked ideological bent, all the participants are now aiming at mutual understanding and, in particular, coordination and cooperation in member States and recipient countries. The previous, dogmatic approach has given way to a predominantly pragmatic position. A nalysis of pension schemes and recommendations for their reform have been one of the main items on the agenda of international organizations in recent years. Pension policy is an integral part of the social policy mandate of the International Labour Office (ILO), and the International Social Security Association (ISSA), whose membership includes institutions responsible for statutory pension systems, has naturally concerned itself with the question. However, the involvement of the World Bank and the International Monetary Fund (IMF) in this area is relatively recent. The Organisation for Economic Cooperation and Development (OECD) has traditionally concerned itself with issues of social and pension policy in its member States, but comprehensive and fundamental statements on pension reform are a relatively new departure.
World Bank support for pensions and social security
2012
Pension and social insurance programs that prevent a substantial loss in consumption resulting from old age, disability, or death are an integral part of any social protection system. The dual objectives of such programs are to allow for the prevention of a sharp decline in income when these life-cycle events take place and protection against poverty in old age. This background paper reviews the World Bank's conceptual framework for the analysis of pension programs and defines the major challenges facing low and middle income countries, namely, coverage, adequacy and sustainability. The paper proposes a broad, forward-looking strategy to help address these challenges.
Purpose -According to one influential set of arguments, the privatization of public pensions has been informed by neoliberalism, and has thus been an integral element of a broader program of welfare retrenchment, which is inconsistent with social cohesion. The paper aims to take issue with this negative characterization of pensions privatization. Design/methodology/approach -The argument is illustrated by a cross-national comparative analysis of the principal design features of 32 mandated private pension arrangements. Findings -The market orientation of mandated private pension arrangements is generally ambivalent. Whilst the architects of these arrangements have embraced market principles, they have also accepted the principle of collective responsibility for retirement futures. Research limitations/implications -While design is an important indicator of the nature of pension schemes, it does not translate automatically into retirement outcomes. Practical implications -Collective responsibility for retirement may be pursued through distinctive forms of privatization. Originality/value -In contrast to the central argument of much of the literature, the privatization of public pensions has not universally or unambiguously been informed by the tenets of neoliberal political economy.
World Bank Social …, 2000
The World Bank Social Protection Discussion Papers are not formal publications of the World Bank. They present preliminary and unpolished results of analysis that are circulated to encourage discussion and comment; citation and the use of such a paper should take account of its provisional character. The findings, interpretations, and conclusions expressed in this paper are entirely those of the author(s) and should not be attributed in any manner to the World Bank, to its affiliated organizations or to members of its Board of Executive Directors or the countries they represent.
International Models for Pension Reform
1998
Pension Research Council Working Papers are intended to make research findings available to other researchers in preliminary form, to encourage discussion and suggestions for revision before final publication. Opinions are solely those of the authors.
Pensions systems and reform : country experiences and research issues
1995
Pension reform is spreading around the globe, from Latin America to the OECD countries, and major reform projects are being discussed in many other developing, transition, and OECD countries. The authors survey current research issues and country experiences related to old-age social security arrangements by introducing the papers selected for a special June 1994 issue of the Revista de Analisis