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Beyond mandatory privatization: pensions policy options for developing countries

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  • Roger Charlton

    (Department of Social Sciences, Glasgow Caledonian University, UK)

  • Roddy McKinnon

    (Department of Risk and Financial Services, Glasgow Caledonian University, UK)

Abstract

Consideration of the social welfare, financial system and institutional implications for DCs of the current, World Bank-led, trend towards systemic old-age pension reforms based on an expanded role for mandatory private provision indicates the desirability of reform alternatives. The wider policy lessons which DCs can take from the experiences of systemic pension reforms already enacted in developing and transition economies are found to be, at best, ambiguous and, at worst, problematic. Alternative policy proposals for DC and transition economy governments considering implementing mandatory defined contribution pension funds within parameters set largely by the Bank's 'agenda' are suggested. These envisage the retention of state provision as their primary element in order to ensure that pension systems continue to pursue their essential welfare functions. Finally, policy recommendations designed to secure universality in retirement provision on a social assistance basis are presented for those LDCs currently outwith the parameters of the systemic pension reform debate. Copyright © 2000 John Wiley & Sons, Ltd.

Suggested Citation

  • Roger Charlton & Roddy McKinnon, 2000. "Beyond mandatory privatization: pensions policy options for developing countries," Journal of International Development, John Wiley & Sons, Ltd., vol. 12(4), pages 483-494.
    • Handle: RePEc:wly:jintdv:v:12:y:2000:i:4:p:483-494
    DOI: 10.1002/1099-1328(200005)12:4<483::AID-JID685>3.0.CO;2-N
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    References listed on IDEAS

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    1. András Simonovits, 2000. "Partial privatization of a pension system: lessons from Hungary," Journal of International Development, John Wiley & Sons, Ltd., vol. 12(4), pages 519-529.
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    8. Roger Charlton & Roddy McKinnon & Lukasz Konopielko, 1998. "Pensions reform, privatisation and restructuring in the transition: Unfinished business or inappropriate agendas?," Europe-Asia Studies, Taylor & Francis Journals, vol. 50(8), pages 1413-1446.
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    Cited by:

    1. Karen R. Tamazyan & Arman E. Jhangiryan, 2018. "Funded Pension System of Armenia: History of Formation," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 4, pages 53-61, August.
    2. J. Robert Branston & Roger Sugden & Pedro Valdez & James Wilson, 2006. "Generating Participation and Democracy: An Illustration from Electricity Reform in Mexico," International Review of Applied Economics, Taylor & Francis Journals, vol. 20(1), pages 47-68.

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