Designing the payout phase of funded pension pillars in central and eastern European countries

Dimitri Vittas, Heinz Rudolph and John Pollner

No 5276, Policy Research Working Paper Series from The World Bank

Abstract: Over the past decade or so, most Central and Eastern European countries have reformed their pension systems, significantly downsizing their public pillars and creating private pillars based on capitalization accounts. Early policy attention was focused on the accumulation phase but several countries are now reaching the stage where they need to address the design of the payout phase. This paper reviews the complex policy issues that will confront policymakers in this effort and summarizes recent plans and developments in four countries (Poland, Hungary, Estonia, and Lithuania). The paper concludes by highlighting a number of options that merit detailed consideration.

Keywords: Debt Markets; Pensions&Retirement Systems; Financial Literacy; Insurance&Risk Mitigation; Investment and Investment Climate (search for similar items in EconPapers)
Date: 2010-04-01
New Economics Papers: this item is included in nep-age, nep-eec, nep-eur, nep-ias and nep-tra
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