This paper examines the characteristics of three funding strategies for pension plans and analyzes the investment strategies that complement these strategies. Although the primary focus is on defined benefit plans, which include Social Security, it also applies to employees’ defined...

The road to Kazakhstan's pension and social reform -- The unsustainable welfare state -- The political economy of the reform -- Macro-actuarial forecasts -- Kazakhstan's economic transformation, 1989-2007 -- Pension benefits during the transition period -- Performance of pension funds -- Legal...