The payout phase of pension systems: a comparison of five countries

Roberto Rocha, Dimitri Vittas and Heinz P. Rudolph

No 5288, Policy Research Working Paper Series from The World Bank

Abstract: This paper provides a comparative summary of the payout phase of pension systems in five countries -- Australia, Chile, Denmark, Sweden, and Switzerland. All five countries have large pension systems with mandatory or quasi-mandatory retirement savings schemes. But they exhibit important differences in the structure and role of different pillars, regulation of payout options, level of annuitization, market structure, capital regulations, risk management, and use of risk sharing arrangements. The paper summarizes the experience of these countries and highlights the lessons they offer to other countries.

Keywords: Pensions&Retirement Systems; Debt Markets; Emerging Markets; 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-ias and nep-rmg
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:wbk:wbrwps:5288

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