Defined contribution (DC) schemes whether unfunded or funded are often considered superior to defined benefit (DB) schemes in their ability to address labor market issues, particularly in encouraging formal employment and delayed retirement. Conceptually, the assessment is based on superior...

This paper shows that as the educational composition in the fifty-five to sixty-four year-old age bracket improved between the mid-1990s and the mid-2010s, the effective retirement age rose rapidly in the Central and Eastern European region. This increase was fast enough to keep life...

This paper starts from the fact that women receive lower pensions than men on average, and considers policies to address that fact. Women typically have lower wages than men, a greater likelihood of part-time work and more career breaks, and thus generally a less complete contribution record. In...

This paper identifies and discusses four issues in creating annuities in (nonfinancial) defined contribution (NDC) schemes that are essential for systems' financial stability and fair inter or intragenerational redistribution. The first issue is the choice between incorporating the rate of...

The paper focuses on the interrupted careers in four countries where pensions are based on lifetime labor income, but they have different labor market patterns. High levels of employment in Germany and Sweden are in contrast with low levels of employment, particularly for women, in Italy and...

Many public policies are impossible to implement without adequate administrative systems in place. This is true for modern pension schemes and in particular, notional defined contribution (NDC) schemes. Today these systems must be digital yet most pension systems predate computerization and must...

This paper is centered on the complementary roles played by pension communication/information and financial literacy for a sustainable and equitable nonfinancial defined contribution (NDC) system at both the micro and macro socioeconomic level. The paper presents new evidence on: (i) the concern...

This paper updates the Social Risk Management (SRM) conceptual framework; the foundation of the World Bank's first Social Protection Sector Strategy. SRM 2.0 addresses the increasingly risky and uncertain world; with opportunities and outcomes driven by possible disruptions from technology,...

This paper reviews the performance of the Russia Local Initiatives Support Program (LISP) as an instrument for directly addressing the needs of the population to access socioeconomic infrastructure, for increasing public confidence in self-governance frameworks and institutions through dialogue...

Online job vacancies from a Ukrainian website were explored to assess the skills that employers look for among their new hires. The demand for cognitive, socioemotional, and technical skills across a range of medium- and high-skilled occupations were assessed. Most employers highly demand all...