Regulation of Withdrawals in Individual Account Systems

Funded mandatory pension systems based on individual accounts are spreading around the world. With the maturation of these systems, regulating the withdrawal of retirement savings will become increasingly important. Government regulation of withdrawals should mandate the purchase of inflation-indexe...

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Bibliographic Details
Main Author: Walliser, Jan
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 1999
Series:IMF Working Papers
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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651 4 |a United States 
653 |a Population & demography 
653 |a Institutional Investors 
653 |a Income 
653 |a Private Pensions 
653 |a Economics of the Handicapped 
653 |a Pension Funds 
653 |a Labour; income economics 
653 |a Retirement Policies 
653 |a Non-labor Market Discrimination 
653 |a Social Security and Public Pensions 
653 |a Nonwage Labor Costs and Benefits 
653 |a Financial institutions 
653 |a Financial Instruments 
653 |a Aggregate Factor Income Distribution 
653 |a Aging 
653 |a Economics of the Elderly 
653 |a National accounts 
653 |a Population aging 
653 |a Labor 
653 |a Population and demographics 
653 |a Non-bank Financial Institutions 
653 |a Retirement 
653 |a Demography 
653 |a Pensions 
653 |a Macroeconomics 
653 |a Actuarial Studies 
653 |a Insurance Companies 
653 |a Insurance 
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520 |a Funded mandatory pension systems based on individual accounts are spreading around the world. With the maturation of these systems, regulating the withdrawal of retirement savings will become increasingly important. Government regulation of withdrawals should mandate the purchase of inflation-indexed life annuities exceeding income available from government welfare programs for the retiree and potential survivors. Proper functioning of insurance markets does not, however, require annuitizing the entire account balance. Instead, more flexibility for the choice of withdrawals could be permitted for any remaining funds, helping to tailor income streams to individual needs and living arrangements