address future pension spending pressures in the advanced and emerging economies. These reforms-mainly increasing retirement …

productivity growth. While these reforms are needed, private pensions can also play a role inimproving retirement income for … savings for retirement. This note also addresses the challenges of the private, funded system and proposes policy … recommendations for increasing coverage, improving efficiency, and delivering sustainable retirement income in the payout phase. This …

various tax rates lead to lower budget deficits in the long run, as a result of an expanding tax base and lower unemployment …