Symposium “Key Issues in Introducing Pre-Funded Pension Schemes”.

Schmollers Jahrbuch, 120. Jg. (2000), Heft 3 (S. 309–534).

Edited by Robert Holzmann Edited by Robert Palacios

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Extent: 230 pages

Publisher: Duncker & Humblot

Subjects: Social Sciences 

Series: Schmollers Jahrbuch. Journal of Contextual Economics

Language: English

(Paperback) (Published)

(April 2001)

ISBN: 9783428105496

6.18 x 9.17 inches

Price: $70.00

Out of stock

Pension reform is high on the agenda worldwide. In
the developed world, population aging has put pressure on pay-as-you-go schemes,
especially those that provide comprehensive income replacement packages. In
developing countries, despite more favorable demographic structures and more limited
coverage, the financial problems have already arrived due to overly generous benefit
promises, massive contribution evasion and mismanagement of pension reserves. The
need to provide secure benefits for the elderly in a financially sustainable manner
has prompted the World Bank, after extensive research, to propose a multi-pillar
system (World Bank 1994). Balancing defined benefit and defined contribution
provisions, unfunded and funded financing, and public and private management in an
appropriate manner was, and still is, seen as a useful benchmark for any reform
(Holzmann and Stiglitz 2001). While the hands-on experience in more than 60 countries
in the world has indicated that countries and their starting positions differ and
thereby require a country-specific reform approach, the reform work has also signaled
the need for more research on basic design and implementation questions and more
extensive sharing of country reform experiences.

In order to provide this intellectual support for pension reforms worldwide, the
World Bank has launched a Pension Reform Primer. It aims at providing a comprehensive
toolkit for policymakers on design and implementation issues. The papers presented in
this volume constitute some of the background papers that have been written to this
end. They address some of the most crucial and often contested issues in pension
reform as systems move from unfunded to funded provisions: the scope of
administrative charges; the performance, structure, and investment of pension funds;
the role of pension funds in stock market development; the appropriate tax treatment
of pension funds; and the role of public information when undertaking such a reform.
In writing the papers, the authors relied on cutting-edge knowledge and information,
but also on hands-on reform experience that render their papers a unique combination
of academic rigor and practical relevance.

As with all pension reform primer papers, the papers in the volume benefitted from an
extensive review process that includes at least one internal and one external
reviewer, presentation and discussion at seminars at the World Bank and international
conferences outside the Bank, and feedback from the international pension reform
community. While having been written by World Bank staff or consultants, the
interpretations and conclusions are solely those of the authors and should not be
attributed to the World Bank, its Executive Board of Directors, or any of its
members.

Inhalt: R. Holzmann / R. Palacios, Introduction -
R. Holzmann / R. Palacios (Eds.), Symposium "Key Issues in Introducing Pre-Funded
Pension Schemes" - E. Whitehouse, Administrative charges for funded pensions:
Measurement concepts and international comparison and assessment - P. S. Srinivas /
E. Whitehouse / J. Yermo, Regulating private pension funds' structure, performance
and investments: cross-country evidence - E. Whitehouse, The tax treatment of funded
pensions - M. Catalan / G. Impavido / A. R. Musalem, Contractual savings or stock
market development: which leads? - A. Chlon, Pension reform and public information in
Poland

  • Edited by Robert Holzmann
  • Edited by Robert Palacios