Pension systems may have a different impact on gender because women are less likely than men to work in formal labor markets and earn lower wages when they do. Recent multipillar pension reforms tighten the link between payroll contributions and benefits, leading critics to argue that they will...

A hot issue in development economics is how much to rely on user charges and private organizations to provide such social services as health and education. Most analysts arguing on either side of the issue assume that any policy decisions involve a tradeoff between equity and efficiency. The...

The proportion of students enrolled in private rather than public schools varies greatly among countries. The author tries to explain (1) the systematically higher proportion of enrollment in private schools in developing countries than in developed countries, at the secondary level, and (2) the...

What is the most cost-effective way to organize individual accounts that are part of a mandatory social security system? Defined-contribution individual account components of social security systems are criticized for being too expensive. The authors investigate the cost-effectiveness of two...

One of the main criticisms of the defined-contribution, individual-account components of social security systems is that they are too expensive. The authors investigate the cost-effectiveness of three options for constructing funded social security pillars: * Individual accounts invested in the...

Pension reforms normally focus on the accumulation phase, plus term insurance that provides bnefits for the disabled and for dependent survivors, all of which are immediate concerns. Decumulation of the capital in workers'retirement savings accounts appears to be far in the future. But in the...

Most old people in developing countries are uninsured by formal social security programs. Economic growth is the key to increased coverage, but policy also matters, argues the author. Contributory insurance programs may not work for much of the population in developing economies. Moreover, the...

A large and growing proportion of the world's population is old; the elderly are often poor; and many countries face huge fiscal burdens because of promises they have made to give their older citizens income security. These government old-age security policies have been debated in developed...

In the past decade, Latin America has taken the lead in structural pension reform which replaces a publicly managed pay-as-you-go defined-benefit system with a system of privately managed, fully funded defined-contribution accounts supplemented by a social safety net This arrangement is designed...