This chapter defines a universal public pension scheme (UPPS) as a government-mandated lifecycle longevity insurance scheme that transfers individual consumption from the working years to the retirement phase of the lifecycle. It discusses the differences in four UPPS designs defined with regard...

Continuous longevity improvements and population ageing have led countries to modify national public pension schemes by increasing the standard and early retirement ages in a discretionary, scheduled, or automatic way, and by making it harder for people to retire prematurely. To this end,...

The concept of nonfinancial (notional) defined contribution (NDC) was born in the early 1990s and implemented from the mid-1990s in a number of countries. This innovative unfunded individual account scheme emerged and created high hopes at a time when the world seemed to have been locked into a...

The previous decade has been one of pension reform throughout the world. In high income countries, the driving force has been the threat that current systems will become unaffordable in coming decades, with demographic developments presenting a major risk. In another setting, countries in the...

Pensions and social insurance programs are an integral part of any social protection system. Their dual objectives are to prevent a sharp decline in income and protect against poverty resulting from old age, disability, or death. The critical role of pensions for protection, prevention, and...

En una serie de medidas adoptadas durante la década de 1990, Suecia transformó su sistema de pensiones con dos niveles de beneficios definidos por leyes en una combinación de tres partes: una pensión mínima financiada con ingresos tributarios generales, un plan de cuentas imaginarias...

Sweden's welfare commitment is one of the most extensive of all high-income countries. Total social expenditures in Sweden - public and private - on pensions, health care and sickness insurance, family policy, unemployment insurance and employment services, and benefits and care services for the...

In this book a distinguished group of contributors discuss the changing political economy of pension reform. They focus on those countries which have launched a significant reframing of their pension system. Each chapter provides a detailed review of recent pension reforms and offers...