Public Pension Reform: A Primer
February 1, 2007
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Order a Print CopyDisclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate
Summary
The present paper reviews key issues in pension design and pension reform encountered all across the world. The paper heavily refers to the recent U.S. Social Security reform debate in general and to the Personal Retirement Accounts proposal in particular. A particular emphasis is put on annuitization and risk-taking in the economy. Our discussion signals some inadequacy of the proposed measures with respect to the goals of viability of the system and individual financial security during retirement.
Subject: Aging, Expenditure, Financial institutions, Insurance, Labor, Pension spending, Pensions, Population and demographics, Retirement
Keywords: adverse selection, Africa, Aging, Asia and Pacific, demographic trends, early retirement, economic value, Europe, household behavior, Insurance, investment strategy, pension funds, pension plan, Pension spending, Pensions, plan sponsor, PRA investor, PRA proposal, PRA saving, present discounted value, rate of return, retirement, retirement age, risk pooling, social security, welfare programs, WP
Pages:
36
Volume:
2007
DOI:
Issue:
028
Series:
Working Paper No. 2007/028
Stock No:
WPIEA2007028
ISBN:
9781451865929
ISSN:
1018-5941
