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Matching Contributions for Pensions : A Review of International Experience

Author

Listed:
  • Richard Hinz
  • Robert Holzmann
  • David Tuesta
  • Noriyuki Takayama

Abstract

Establishing robust, equitable, and effective social protection is essential to reducing poverty and boosting prosperity at all levels of development. The demographic transition that has already transformed most high-income societies will exert similar and growing pressures on others, reinforcing the role of pensions and savings for old age as a central pillar of social protection systems. One possible solution that has emerged in recent years that offers the potential to overcome this challenge is the provision of contribution matches to provide an immediate and powerful incentive for participation in pension saving systems. Originating in several high-income settings there are now a number of innovations and substantial experience in low-income countries in using this design to stimulate coverage and savings. This experience now provides a rich opportunity for learning, not just from the longer experience of a few high-income countries but also the more meaningful South-South learning across developing countries.This volume, which reviews the experience with matching pension contributions across the range of countries that have used the design, makes an initial, but critically important investment in this learning process. The description and analysis of this experience which is the product of partnership and collaboration across many public and private institutions provide an invaluable early assessment of the design to inform policy makers and practitioners as well as serve as a model for the kind of cooperation that will be required to address this difficult challenge. At the World Bank, we look forward to being part of this learning process of how to best provide old-age security for all.

Suggested Citation

  • Richard Hinz & Robert Holzmann & David Tuesta & Noriyuki Takayama, 2013. "Matching Contributions for Pensions : A Review of International Experience," World Bank Publications, The World Bank, number 11968, April.
  • Handle: RePEc:wbk:wbpubs:11968
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    File URL: https://openknowledge.worldbank.org/bitstream/handle/10986/11968/735130PUB0EPI001070120date010025012.pdf?sequence=1
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    References listed on IDEAS

    as
    1. Esther Duflo & William Gale & Jeffrey Liebman & Peter Orszag & Emmanuel Saez, 2006. "Saving Incentives for Low- and Middle-Income Families: Evidence from a Field Experiment with H&R Block," The Quarterly Journal of Economics, Oxford University Press, vol. 121(4), pages 1311-1346.
    2. Rudolph, Heinz & Rocha, Roberto, 2009. "Enabling conditions for second pillars of pension systems," Policy Research Working Paper Series 4890, The World Bank.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Robert Holzmann & Johannes Koettl, 2015. "Portability of Pension, Health, and Other Social Benefits: Facts, Concepts, and Issues," CESifo Economic Studies, CESifo, vol. 61(2), pages 377-415.
    2. World Bank, 2013. "World Development Report 2014
      [Informe sobre el desarrollo mundial 2014, Riesgo y oportunidad : la administración del riesgo como instrumento de desarrollo - Panorama general]
      ," World Bank Publications, The World Bank, number 16092.
    3. Robert Holzmann & Richard Hinz & David Tuesta, 2012. "Early Lessons from Country Experience with Matching Contribution Schemes for Pensions," Working Papers 1231, BBVA Bank, Economic Research Department.
    4. Milan Vodopivec, 2013. "Introducing unemployment insurance to developing countries," IZA Journal of Labor Policy, Springer;Forschungsinstitut zur Zukunft der Arbeit GmbH (IZA), vol. 2(1), pages 1-23, December.
    5. Börsch-Supan, A. & Härtl, K. & Leite, D.N., 2016. "Social Security and Public Insurance," Handbook of the Economics of Population Aging, Elsevier.
    6. Dorfman,Mark Charles, 2015. "Pension patterns in Sub-Saharan Africa," Social Protection and Labor Policy and Technical Notes 98131, The World Bank.
    7. Holzmann, Robert, 2014. "Old-age financial protection in Malaysia : challenges and options," Social Protection and Labor Policy and Technical Notes 92725, The World Bank.
    8. David Canning & Sangeeta Raja & Abdo S. Yazbeck, 2015. "Africa's Demographic Transition," World Bank Publications, The World Bank, number 22036.
    9. Christina Behrendt & John Woodall, 2015. "Pensions and other social security income transfers," Chapters,in: Labour Markets, Institutions and Inequality, chapter 9, pages 242-262 Edward Elgar Publishing.
    10. Shestakova, E., 2015. "The Compulsory or Voluntary Pension Accumulation: Different Approaches," Journal of the New Economic Association, New Economic Association, vol. 27(3), pages 200-205.
    11. World Bank, 2016. "Republic of the Philippines Review of the Social Security System," World Bank Other Operational Studies 24671, The World Bank.
    12. Xiaoxing Liu & Ying Zhang & Lin Fang & Yuanxue Li & Wenqing Pan, 2015. "Reforming China’s Pension Scheme for Urban Workers: Liquidity Gap and Policies’ Effects Forecasting," Sustainability, MDPI, Open Access Journal, vol. 7(8), pages 1-19, August.

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