Designing the payout phase of funded pension pillars in central and eastern European countries
AbstractOver the past decade or so, most Central and Eastern European countries have reformed their pension systems, significantly downsizing their public pillars and creating private pillars based on capitalization accounts. Early policy attention was focused on the accumulation phase but several countries are now reaching the stage where they need to address the design of the payout phase. This paper reviews the complex policy issues that will confront policymakers in this effort and summarizes recent plans and developments in four countries (Poland, Hungary, Estonia, and Lithuania). The paper concludes by highlighting a number of options that merit detailed consideration.
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Bibliographic InfoPaper provided by The World Bank in its series Policy Research Working Paper Series with number 5276.
Date of creation: 01 Apr 2010
Date of revision:
Debt Markets; Pensions&Retirement Systems; Financial Literacy; Insurance&Risk Mitigation; Investment and Investment Climate;
This paper has been announced in the following NEP Reports:
- NEP-AGE-2010-05-22 (Economics of Ageing)
- NEP-ALL-2010-05-22 (All new papers)
- NEP-EEC-2010-05-22 (European Economics)
- NEP-EUR-2010-05-22 (Microeconomic European Issues)
- NEP-IAS-2010-05-22 (Insurance Economics)
- NEP-TRA-2010-05-22 (Transition Economics)
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- Chao Qiao & Michael Sherris, 2011. "Managing Systematic Mortality Risk with Group Self Pooling and Annuitisation Schemes," Working Papers 201104, ARC Centre of Excellence in Population Ageing Research (CEPAR), Australian School of Business, University of New South Wales.
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