Rethinking Public Pension Reform Initiatives

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...

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Bibliographic Details
Main Author: Heller, Peter
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 1998
Series:IMF Working Papers
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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100 1 |a Heller, Peter 
245 0 0 |a Rethinking Public Pension Reform Initiatives  |c Peter Heller 
260 |a Washington, D.C.  |b International Monetary Fund  |c 1998 
300 |a 30 pages 
651 4 |a Singapore 
653 |a Population & demography 
653 |a Finance, Public 
653 |a Income 
653 |a Public-Private Enterprises 
653 |a Private Pensions 
653 |a Economics of the Handicapped 
653 |a Social assistance spending 
653 |a Pension spending 
653 |a Social Security and Public Pensions 
653 |a Non-labor Market Discrimination 
653 |a Public finance & taxation 
653 |a Public Enterprises 
653 |a Nonwage Labor Costs and Benefits 
653 |a Public sector 
653 |a Aggregate Factor Income Distribution 
653 |a Economics of the Elderly 
653 |a Aging 
653 |a National accounts 
653 |a Population aging 
653 |a Labor 
653 |a Population and demographics 
653 |a Expenditure 
653 |a National Government Expenditures and Welfare Programs 
653 |a Demography 
653 |a Expenditures, Public 
653 |a Pensions 
653 |a Civil service & public sector 
653 |a Macroeconomics 
653 |a Public Finance 
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989 |b IMF  |a International Monetary Fund 
490 0 |a IMF Working Papers 
028 5 0 |a 10.5089/9781451848144.001 
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520 |a 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