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The Design and Implementation of Public Pension Systems in Developing Countries: Issues and Options

David Bloom and Roddy McKinnon ()
Additional contact information
Roddy McKinnon: International Social Security Association

No 59, IZA Policy Papers from Institute of Labor Economics (IZA)

Abstract: Developing countries are increasingly aware of the need to design and implement improvements in public systems for providing pensions to the elderly. Such systems may aim to smooth consumption and thus provide reliable income to older people, reduce poverty among the elderly, insure those no longer working against the risk of running out of funds, and promote equal treatment of men and women in retirement security even when lifetime earnings and projected average life expectancy may differ greatly. The increasing share of the elderly in the population of all countries makes implementation of sustainable pension systems both more urgent and more difficult. Planners must consider numerous options in pension system design and choose the combination of policies that will optimize coverage, benefits, and financing given a country's demographics, history, practices regarding family support of the elderly, political system, extent of informal labour, and fiscal situation.

Keywords: pension systems; aging; retirement; life expectancy (search for similar items in EconPapers)
JEL-codes: J14 J26 J11 J18 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-age and nep-dem
Date: 2013-05
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Working Paper: The design and implementation of public pension systems in developing countries: Issues and options (2013) Downloads
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