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Ibrd And Its Involvement In Modernising And Improving The Functionality Of Pension Systems

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  • Cristina Rosu

Abstract

In our research we review the International Bank for Reconstruction and Development’s (IBRD) most important contributions to the functionality of the pension systems around the world. The pension systems design constitutes an important premise for the adequate functioning of these systems. In international practice, there is a wide variety of principles and mechanisms which can constitute the foundation of pension systems, the most common being materialized in the multi-pillar pension system, promoted by the IBRD. Its involvement in modernizing and improving the functionality of pension systems has reached also many other aspects such as evaluation of the national pension systems’ performance, financial assistance to governments with the aim of meeting the objectives corresponding to pension systems, scientific, technical and informational support. We conclude that IBRD’s involvement in modernizing and improving the functionality of pension systems has determined a significant transformation of the national pension systems, especially in Latin America and Eastern and Central Europe. However, its well-known multi-pillar model is not free of criticism as a result of the various analytical errors.

Suggested Citation

  • Cristina Rosu, 2014. "Ibrd And Its Involvement In Modernising And Improving The Functionality Of Pension Systems," Studies and Scientific Researches. Economics Edition, "Vasile Alecsandri" University of Bacau, Faculty of Economic Sciences, issue 20.
    • Handle: RePEc:bac:fsecub:14-20-10
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    References listed on IDEAS

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    1. Nicholas Barr & Peter Diamond, 2009. "Reforming pensions: Principles, analytical errors and policy directions," International Social Security Review, John Wiley & Sons, vol. 62(2), pages 5-29, April.
    2. Dorfman, Mark & Palacios, Robert, 2012. "World Bank support for pensions and social security," Social Protection Discussion Papers and Notes 70925, The World Bank.
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    More about this item

    Keywords

    IBRD; pension system; multi-pillar; pension performance indicators; pension system evaluation;
    All these keywords.

    JEL classification:

    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions

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