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The payout phase of pension systems : a comparison of five countries

Author

Listed:
  • Rocha, Roberto
  • Vittas, Dimitri
  • Rudolph, Heinz P.

Abstract

This 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.

Suggested Citation

  • Rocha, Roberto & Vittas, Dimitri & Rudolph, Heinz P., 2010. "The payout phase of pension systems : a comparison of five countries," Policy Research Working Paper Series 5288, The World Bank.
    • Handle: RePEc:wbk:wbrwps:5288
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    Citations

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    Cited by:

    1. Xu, Mengyi & Alonso-García, Jennifer & Sherris, Michael & Shao, Adam W., 2023. "Insuring longevity risk and long-term care: Bequest, housing and liquidity," Insurance: Mathematics and Economics, Elsevier, vol. 111(C), pages 121-141.
    2. Hanewald, Katja & Piggott, John & Sherris, Michael, 2013. "Individual post-retirement longevity risk management under systematic mortality risk," Insurance: Mathematics and Economics, Elsevier, vol. 52(1), pages 87-97.
    3. Mengyi Xu & Jennifer Alonso Garcia & Michael Sherris & Adam Shao, 2022. "Insuring Longevity Risk and Long-Term Care: Bequest, Housing and Liquidity," ULB Institutional Repository 2013/340821, ULB -- Universite Libre de Bruxelles.
    4. Edouard Ribes, 2022. "Financial planning & optimal retirement timing for physically intensive occupations," Working Papers hal-03219182, HAL.
    5. Edouard A. Ribes, 2022. "Financial planning and optimal retirement timing for physically intensive occupations," SN Business & Economics, Springer, vol. 2(8), pages 1-28, August.

    More about this item

    Keywords

    Pensions&Retirement Systems; Debt Markets; Emerging Markets; Insurance&Risk Mitigation; Investment and Investment Climate;
    All these keywords.

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