Pensions Panorama : Retirement-Income Systems in 53 Countries
Pensions panorama provides a compendium of facts and analysis that should inform policy making and public debate about retirement-income systems around the world. The section following the introduction sets out a typology: a way of defining and cla...
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| Language: | English en_US |
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Washington, DC: World Bank
2012
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| Online Access: | http://documents.worldbank.org/curated/en/2006/01/7190679/pensions-panorama-retirement-income-systems-53-countries http://hdl.handle.net/10986/7177 |
| Summary: | Pensions panorama provides a compendium
of facts and analysis that should inform policy making and
public debate about retirement-income systems around the
world. The section following the introduction sets out a
typology: a way of defining and classifying different kinds
of pension schemes. It shows which countries have which
types of pension schemes, covering all elements of the
retirement-income system, including resource-tested benefits
and basic pensions as well as public, earnings-related, and
compulsory private pension plans. Next, the study sets out
the institutional detail: the parameters and rules of
different parts of the retirement-income system. The next
section presents the core, empirical results: future pension
entitlements of today's workers with different levels
of earnings from all sources. This section includes the
familiar replacement rate indicator: individual pension
entitlements as a proportion of individual earnings when
working. The following section explores the important role
that personal income taxes and social security contributions
play in determining the relative incomes of older people. In
particular, it shows net replacement rates (that is, pension
net of taxes and any contributions, relative to earnings,
net of taxes and contributions). The third section on
empirical results looks at the link between pension
entitlements in retirement and earnings in work. This
analysis highlights the key differences in philosophy
between different countries' retirement-income systems.
Moreover, changes to the pensions-earnings link have been
central to many recent reforms to retirement-income regimes.
The concluding section sets out a number of dimensions in
which the pension systems of 53 countries differ. |
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