Arguably, the most important public policy initiative underway today in the Dominican Republic is the reform of its social security programs. The reform is taking place in the context of an economic crisis that will make a complex implementation process even more difficult in the first few...

The trend toward including individual accounts as part of the mandatory pension system continues unabated. Nine Latin American countries have introduced individual accounts (Chile, Peru, Argentina, Colombia, Uruguay, Bolivia, Mexico, El Salvador and Nicaragua) and several more are preparing to...

This paper considers the implementation of, and rationale for, pension reforms based on notional accounts (sometimes known as notional defined contribution plans or NDCs). The distinguishing feature of such reforms is that a structure of individual accounts is established, in which contributions...

This report highlights the World Bank's thinking and worldwide involvement in pension reform. Both are driven by the Bank's mandate to help countries develop economically and to reduce poverty. The Bank has four key concerns in working with clients on pension policy: 1) short-term financing and...

The purpose of the paper is to review the structure and performance of the Czech pension system and examine alternative reform options. The paper shows that in the absence of reform the deficits of the Czech pension system may exceed 8 percent of GDP in 2050. To contain these deficits the paper...

Social protection can be defined as interventions intended to assist individuals, households, and communities in managing risk in order to reduce vulnerability, smooth consumption, and improve equity. Social protection in Togo has been put to test by the political and economic developments of...

This paper describes the recent Swedish reform, and available options on major issues within this reform framework. In June 1994, Sweden's Parliament passed legislation replacing the old defined benefit system, with a combination of pay-as-you-go notional defined contribution (NDC), and a DC...

The introduction of a new pension system in Poland in 1999 was the culmination of a long policy dialogue and years of debate. During this period, the role of public opinion shaped the reform and was, in turn, shaped by the reform process. Implementation of the reform was also affected by the...

Collecting social security contributions is an important operational issue in all types of pension systems. Many regimes are plagued by poor compliance and weak, inefficient administration. Some countries have tried to introduce an automatic incentive to contribute by moving systems closer...

This paper argues that it is important to take into account unfunded public pension liabilities as part of an assessment of the overall fiscal situation, including the fiscal positions of pension schemes pre and post reforms. It examines the concept of the implicit pension debt (IPD) and...