In this paper, we offer an explanation for cyclical reforms to pension systems, based on the experience of countries in Central and Eastern Europe (CEE) over the last three decades. We conclude that in making the transition to funded pension design, governments not only transfer longevity and...

This study introduces multiplayer game in the modern pension market. Particularly, thisstudy claims that low earners and high earners have different interests when playing in fundedpension market scheme. This differentiating is enabled by avoiding the entire society as a singleearning cohort....