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Indexing pensions

  • Piggott, John
  • Sane, Renuka

Pension indexation should anchor the parameters of the pension system to one or more economic and demographic variables to ensure that the system is implemented in a sustainable way, while minimizing distortions affecting important economic choices. Arguing that financial sustainability, incentive compatibility and consistency across multiple government programs are critical, the author examine the many linkages between the various parameters of pension schemes. Finally, the author turn to the cost of the insurance dimension of indexation, and suggest that option pricing techniques could be used to price indexation guarantees, and that this approach may suggest refinements to indexation practice not thus far implemented.

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Paper provided by The World Bank in its series Social Protection Discussion Papers with number 52445.

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Date of creation: 01 Dec 2009
Date of revision:
Handle: RePEc:wbk:hdnspu:52445
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  1. Forteza, Alvaro & Ourens, Guzman, 2009. "How much do Latin American pension programs promise to pay back?," Social Protection Discussion Papers 52447, The World Bank.
  2. Abidoye, Babatunde & Orazem, Peter F. & Vodopivec, Milan, 2009. "Firing cost and firm size : a study of Sri Lanka's severance pay system," Social Protection Discussion Papers 50671, The World Bank.
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  9. Almeida, Rita & Carneiro, Pedro, 2008. "Mandated benefits, employment, and inequality in a dual economy," Social Protection Discussion Papers 45051, The World Bank.
  10. Ferrer, Ana M. & Riddell, W. Craig, 2009. "Unemployment insurance savings accounts in Latin America : overview and assessment," Social Protection Discussion Papers 49173, The World Bank.
  11. Vodopivec, Milan & Dolenc, Primoz, 2008. "Live longer, work longer : making it happen in the labor market," Social Protection Discussion Papers 42471, The World Bank.
  12. Galasso, Vincenzo & Gatti, Roberta & Profeta, Paola, 2008. "Investing for the old age : pensions, children and savings," Social Protection Discussion Papers 47101, The World Bank.
  13. Koettl, Johannes, 2009. "Human trafficking, modern day slavery, and economic exploitation," Social Protection Discussion Papers 49802, The World Bank.
  14. Amin, Mohammad, 2007. "Labor regulation and employment in India's retail stores," Policy Research Working Paper Series 4314, The World Bank.
  15. Almeida, Rita K., 2009. "Openness and Technological Innovation in East Asia: Have They Increased the Demand for Skills?," IZA Discussion Papers 4474, Institute for the Study of Labor (IZA).
  16. Angel-Urdinola, Diego F., 2008. "Can the introduction of a minimum wage in FYR Macedonia decrease the gender wage gap?," Social Protection Discussion Papers 46851, The World Bank.
  17. Robalino, David A. & Zylberstajn, Helio, 2009. "Ex-ante methods to assess the impact of social insurance policies on labor supply with an application to Brazil," Policy Research Working Paper Series 5027, The World Bank.
  18. Vodopivec, Milan, 2009. "Introducing unemployment insurance to developing countries," Social Protection Discussion Papers 49170, The World Bank.
  19. Avato, Johanna & Koettl, Johannes & Sabates-Wheeler, Rachel, 2009. "Definitions, good practices, and global estimates on the status of social protection for international migrants," Social Protection Discussion Papers 49172, The World Bank.
  20. Milazzo, Annamaria & Grosh, Margaret, 2008. "Social safety nets in World Bank lending and analytical work : FY2002 - 2007," Social Protection Discussion Papers 44730, The World Bank.
  21. Macours, Karen & Vakis, Renos, 2010. "Seasonal Migration and Early Childhood Development," World Development, Elsevier, vol. 38(6), pages 857-869, June.
  22. Braithwaite, Jeanine & Carroll, Richard & Mont, Daniel & Peffley, Karen, 2008. "Disability and development in the World Bank : FY2000-2007," Social Protection Discussion Papers 45178, The World Bank.
  23. Barrett , Christopher B & Carter , Michael R & Ikegami , Munenobu, 2008. "Poverty traps and social protection," Social Protection Discussion Papers 42752, The World Bank.
  24. Perotti, Valeria & Sánchez Puerta, Maria Laura, 2009. "Personal Opinions about the Social Security System and Informal Employment : Evidence from Bulgaria," Social Protection Discussion Papers 89563, The World Bank.
  25. Robalino, David & Vodopivec, Milan & Bodor, Andras, 2009. "Savings for unemployment in good or bad times : options for developing countries," Social Protection Discussion Papers 50320, The World Bank.
  26. Almeida, Rita & Aterido, Reyes, 2008. "The incentives to invest in job training : do strict labor codes influence this decision?," Social Protection Discussion Papers 46189, The World Bank.
  27. Almeida, Rita & Carneiro, Pedro, 2008. "Enforcement of labor regulation and firm size," Social Protection Discussion Papers 43675, The World Bank.
  28. Braithwaite , Jeanine & Mont , Daniel, 2008. "Disability and poverty : a survey of World Bank poverty assessments and implications," Social Protection Discussion Papers 42754, The World Bank.
  29. Bhattamishra, Ruchira & Barrett, Christopher B., 2010. "Community-Based Risk Management Arrangements: A Review," World Development, Elsevier, vol. 38(7), pages 923-932, July.
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