The payout phase of pension systems : a comparison of five countries
AbstractThis paper provides a comparative summary of the payout phase of pension systems in five countries -- Australia, Chile, Denmark, Sweden, and Switzerland. All five countries have large pension systems with mandatory or quasi-mandatory retirement savings schemes. But they exhibit important differences in the structure and role of different pillars, regulation of payout options, level of annuitization, market structure, capital regulations, risk management, and use of risk sharing arrangements. The paper summarizes the experience of these countries and highlights the lessons they offer to other countries.
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Bibliographic InfoPaper provided by The World Bank in its series Policy Research Working Paper Series with number 5288.
Date of creation: 01 Apr 2010
Date of revision:
Pensions&Retirement Systems; Debt Markets; Emerging Markets; 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-IAS-2010-05-22 (Insurance Economics)
- NEP-RMG-2010-05-22 (Risk Management)
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