We classify social security pension systems in three dimensions: actuarial versus non-
actuarial, funded versus unfunded, and defined-benefit versus defined-contribution systems …

Governments around the world have enacted or are currently considering fundamental
structural reforms of their Social Security pension programs. The key feature in these reforms …

Looks at the policy choices involved in creating pension schemes, particularly whether it is
advisable to move away from government pay-as-you-go pensions toward private or publicly …

1. Economists and policymakers increasingly use the word “actuarial” in the analysis of
pension systems and retirement incentives. But the debate is often confused.“Actuarial …

This chapter reviews the theoretical and empirical issues dealing with Social Security
pensions. The first part of the chapter discusses pure pay-as-you-go plans. It considers the …

This paper discusses the building blocks of pension reform in the light of economic theory,
and their application to different types of economy. The opening section sets out the simple …

This paper provides a relatively nontechnical discussion of the effects of shifting from a pay-
as-you-go system of Social Security pensions to a fully funded plan based on individual …

This article, sets out a series of principles for pension design rooted in economic theory:
pension systems have multiple objectives, analysis should consider the pension system as a …

The past two decades have seen a wave of reforms to retirement income systems around
the world. This paper describes the reform packages that have taken place in 38 …

The necessity of serious reforms in many countries tells us nothing about which specific
reforms should be undertaken in which countries. Unfortunately, a set of myths that have …