Developing countries are increasingly aware of the need to design and implement improvements in public systems for providing pensions to the elderly. Such systems may aim to smooth consumption and thus provide reliable income to older people, reduce poverty among the elderly, insure those no...

The trajectories of funded national pensions systems are perceived as closely entwined. Currently, it is widely assumed that the private management of funded retirement savings schemes is crucial if positive capital market impacts are to be achieved. Examining experience over recent decades...