IDEAS home Printed from https://ideas.repec.org/p/imf/imfwpa/1998-061.html
   My bibliography  Save this paper

Rethinking Public Pension Reform Initiatives

Author

Listed:
  • Mr. Peter S. Heller

Abstract

This paper argues that there are significant risks, limitations, and complications associated with reliance upon mandatory DC, fully funded schemes as the dominant public pension pillar. Policies to limit risks may result in the government being reinjected into playing an important financial role in the provision of social insurance. For many countries, the principal source of old age support should thus derive from a well-formulated, public DB pillar, with a significant amount of prefunding. A DC/FF pillar can play a useful supplemental role in a multi-pillar system for the accumulation of pension savings.

Suggested Citation

  • Mr. Peter S. Heller, 1998. "Rethinking Public Pension Reform Initiatives," IMF Working Papers 1998/061, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:1998/061
    as

    Download full text from publisher

    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=2582
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Yoram Weiss & Robert M. Sauer & Menachem Gotlibovski, 2003. "Immigration, Search, and Loss of Skill," Journal of Labor Economics, University of Chicago Press, vol. 21(3), pages 557-592, July.
    2. Whitehouse, Edward, 2000. "Administrative charges for funded pensions: An international comparison and assessment," MPRA Paper 14172, University Library of Munich, Germany.
    3. Razin, A. & Sadka, E., 1998. "Migration and Pension," Papers 16-98, Tel Aviv.
    4. Alberto Arenas de Mesa & Jere Behrman & David Bravo, 2001. "Characteristics of and determinants of the density of contributions in a Private Social Security System," Working Papers wp077, University of Michigan, Michigan Retirement Research Center.
    5. Whitehouse, Edward, 2000. "Paying for pensions: An international comparison of administrative charges in funded retirement-income systems," MPRA Paper 14171, University Library of Munich, Germany.
    6. Assaf Razin & Efraim Sadka, 2000. "Unskilled Migration: A Burden or a Boon for the Welfare State?," Scandinavian Journal of Economics, Wiley Blackwell, vol. 102(3), pages 463-479, September.
    7. Srinivas, P.S. & Whitehouse, Edward & Yermo, Juan, 2000. "Regulating private pension funds'structure, performance, and investments : cross-country evidence," Social Protection Discussion Papers and Notes 23302, The World Bank.
    8. Velculescu, Delia, 2011. "Private Pension Systems in Emerging Europe: The Uncertain Road Ahead," MPRA Paper 88969, University Library of Munich, Germany, revised 2011.
    9. Mr. Philip R. Gerson & Mr. George A Mackenzie & Mr. Peter S. Heller & Mr. Alfredo Cuevas, 2001. "Pension Reform and the Fiscal Policy Stance," IMF Working Papers 2001/214, International Monetary Fund.
    10. Grech, Aaron George, 1999. "Funded pension schemes: Economic effects and policy implications," MPRA Paper 33615, University Library of Munich, Germany.
    11. Takayama, Noriyuki, 2005. "Pension Reform of PRC : ―Incentives, Governance and Policy Options―," Economic Review, Hitotsubashi University, vol. 56(4), pages 289-303, October.
    12. Armando Barrientos, 2000. "Work, retirement and vulnerability of older persons in Latin America: what are the lessons for pension design?," Journal of International Development, John Wiley & Sons, Ltd., vol. 12(4), pages 495-506.
    13. Vittas, Dimitri, 2002. "Policies to promote saving for retirement : a synthetic overview," Policy Research Working Paper Series 2801, The World Bank.
    14. Alberto Arenas de Mesa & David Bravo & Jere R. Behrman & Olivia S. Mitchell & Petra E. Todd, 2006. "The Chilean Pension Reform Turns 25: Lessons From the Social Protection Survey," NBER Working Papers 12401, National Bureau of Economic Research, Inc.
    15. Gupta Ramesh, 2002. "Pension Reforms in India: Myth, Reality and Policy Choices," IIMA Working Papers WP2002-09-03, Indian Institute of Management Ahmedabad, Research and Publication Department.
    16. Assaf Razin, 2001. "Policy implications of demographic change: panel discussion: notes on demographic changes and the welfare state," Conference Series ; [Proceedings], Federal Reserve Bank of Boston, vol. 46, pages 289-296.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:imf:imfwpa:1998/061. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Akshay Modi (email available below). General contact details of provider: https://edirc.repec.org/data/imfffus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.