Pension economics

With the design of the pension system critically dependent on objectives and context, and many objectives and trade-offs to consider, real-world pension schemes are complex and rich in institutional detail. Ongoing demographic changes also challenge pension systems, including their performance and outcomes in terms of pension adequacy, poverty prevention, and financial viability. To breakdown all of this, this book provides an introduction to and overview of the economics of pensions, explaining the basic mechanisms and design issues with a particular focus on distribution, behavioural aspects, and market failures.