Sangam: A Confluence of Knowledge Streams

The Payout Phase of Pension Systems : A Comparison of Five Countries

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dc.creator Rocha, Roberto
dc.creator Vittas, Dimitri
dc.creator Rudolph, Heinz P.
dc.date 2012-03-19T18:39:36Z
dc.date 2012-03-19T18:39:36Z
dc.date 2010-04-01
dc.date.accessioned 2023-02-17T21:03:20Z
dc.date.available 2023-02-17T21:03:20Z
dc.identifier http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20100429154401
dc.identifier http://hdl.handle.net/10986/3775
dc.identifier.uri http://localhost:8080/xmlui/handle/CUHPOERS/244739
dc.description 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.
dc.language English
dc.relation Policy Research working paper ; no. WPS 5288
dc.rights CC BY 3.0 IGO
dc.rights http://creativecommons.org/licenses/by/3.0/igo/
dc.rights World Bank
dc.subject ACCESS TO FUNDS
dc.subject ACCOUNT HOLDER
dc.subject ACCUMULATED SAVINGS
dc.subject ADVERSE SELECTION
dc.subject ANNUITY
dc.subject ANNUITY CONVERSION
dc.subject ANNUITY CONVERSION FACTOR
dc.subject ANNUITY CONVERSION FACTORS
dc.subject ANNUITY MARKET
dc.subject ANNUITY OPTION
dc.subject ANNUITY OPTIONS
dc.subject ANNUITY PAYMENTS
dc.subject ANNUITY PROVIDERS
dc.subject ANNUITY PROVISION
dc.subject ASSET MANAGEMENT
dc.subject ASSET MANAGERS
dc.subject AUCTION
dc.subject AVERAGE BENEFIT
dc.subject BASIC BENEFITS
dc.subject BASIC PENSION
dc.subject BENEFICIARIES
dc.subject BENEFICIARY
dc.subject BENEFIT PAYMENTS
dc.subject BEQUEST
dc.subject BEQUESTS
dc.subject BOND RATE
dc.subject BOND RATES
dc.subject BOND YIELD CURVE
dc.subject BONDS
dc.subject BROKER
dc.subject BROKERS
dc.subject CAPITAL MARKETS DEVELOPMENT
dc.subject CAPITAL REQUIREMENTS
dc.subject COMPANY PENSIONS
dc.subject CONTRIBUTION PERIOD
dc.subject CONTRIBUTION RATE
dc.subject CONTRIBUTION RATES
dc.subject CONTRIBUTION RECORD
dc.subject CONTRIBUTION RECORDS
dc.subject CORPORATE BOND
dc.subject CORPORATE BOND MARKET
dc.subject CORPORATE BONDS
dc.subject DECENTRALIZATION
dc.subject DEFERRED ANNUITIES
dc.subject DEFINED BENEFIT
dc.subject DEFINED BENEFIT PLANS
dc.subject DEFINED-CONTRIBUTION PENSION
dc.subject DEMOGRAPHIC
dc.subject DEVELOPING COUNTRIES
dc.subject DISCOUNT RATES
dc.subject EQUITIES
dc.subject EXPOSURE
dc.subject FAIR PRICES
dc.subject FINANCIAL INSTITUTIONS
dc.subject FINANCIAL MANAGEMENT
dc.subject FIXED ANNUITY
dc.subject FOREIGN CURRENCY
dc.subject FUNDED COMPONENT
dc.subject FUNDED SCHEMES
dc.subject GLOBAL CAPITAL
dc.subject GLOBAL CAPITAL MARKETS
dc.subject GOVERNMENT BOND
dc.subject GOVERNMENT BOND YIELD
dc.subject GOVERNMENT BONDS
dc.subject GOVERNMENT REGULATION
dc.subject GOVERNMENT REGULATIONS
dc.subject GUARANTEED BENEFITS
dc.subject GUARANTEED PERIOD
dc.subject GUARANTEED PERIODS
dc.subject GUARANTEED RATE
dc.subject GUARANTEED RATES
dc.subject HEALTH SYSTEMS
dc.subject INCOME STREAMS
dc.subject INCOMES
dc.subject INDEXED ANNUITIES
dc.subject INDIVIDUAL ACCOUNTS
dc.subject INDIVIDUAL PENSIONERS
dc.subject INFLATION
dc.subject INSURANCE COMPANIES
dc.subject INSURANCE PREMIUMS
dc.subject INTEREST RATE
dc.subject INTEREST RATES
dc.subject INTERNATIONAL BANK
dc.subject INVESTING
dc.subject INVESTMENT FUNDS
dc.subject INVESTMENT PERFORMANCE
dc.subject INVESTMENT REGULATIONS
dc.subject INVESTMENT RETURN
dc.subject INVESTMENT RETURNS
dc.subject INVESTMENT RISK
dc.subject INVESTMENT RISKS
dc.subject LABOR MARKET
dc.subject LEVIES
dc.subject LIABILITY
dc.subject LIFE ANNUITIES
dc.subject LIFE ANNUITY
dc.subject LIFE EXPECTANCY
dc.subject LIFE INSURANCE
dc.subject LIFE INSURANCE COMPANIES
dc.subject LIFE INSURERS
dc.subject LOCAL GOVERNMENT
dc.subject LONGEVITY INSURANCE
dc.subject LONGEVITY RISK
dc.subject LONGEVITY RISKS
dc.subject MANDATORY PILLAR
dc.subject MANDATORY RETIREMENT
dc.subject MANDATORY SYSTEM
dc.subject MARKET DEVELOPMENT
dc.subject MARKET RETURNS
dc.subject MARKET STRUCTURE
dc.subject MATURITY
dc.subject MEANS-TESTED SUPPLEMENT
dc.subject MINIMUM BENEFITS
dc.subject MORTALITY
dc.subject NATIONAL PENSION
dc.subject NORMAL RETIREMENT AGE
dc.subject OCCUPATIONAL PENSION PLANS
dc.subject OCCUPATIONAL SCHEMES
dc.subject OPEN MARKET
dc.subject PENSION
dc.subject PENSION BENEFIT
dc.subject PENSION BENEFITS
dc.subject PENSION COMPANIES
dc.subject PENSION FACTOR
dc.subject PENSION FOUNDATIONS
dc.subject PENSION FUND
dc.subject PENSION FUND ADMINISTRATOR
dc.subject PENSION FUND ADMINISTRATORS
dc.subject PENSION FUND ASSETS
dc.subject PENSION FUND MANAGERS
dc.subject PENSION FUNDS
dc.subject PENSION INCOME
dc.subject PENSION LAW
dc.subject PENSION PAYMENTS
dc.subject PENSION PLAN
dc.subject PENSION PLANS
dc.subject PENSION REFORM
dc.subject PENSION REFORMS
dc.subject PENSION SCHEME
dc.subject PENSION SCHEMES
dc.subject PENSION SYSTEM
dc.subject PENSION SYSTEMS
dc.subject PENSIONERS
dc.subject PENSIONS
dc.subject PERFORMANCE DATA
dc.subject PERSONAL DATA
dc.subject PERSONAL PENSION
dc.subject PERSONAL PENSION PLANS
dc.subject PILLAR BENEFIT
dc.subject PILLAR BENEFITS
dc.subject PORTFOLIO
dc.subject PORTFOLIOS
dc.subject PRICE CONTROLS
dc.subject PRIVATE PENSION
dc.subject PRIVATE PENSION FUNDS
dc.subject PRIVATE PENSION SYSTEMS
dc.subject PRIVATE PILLAR
dc.subject PRIVATE PILLARS
dc.subject PRIVATE SECTOR DEVELOPMENT
dc.subject PROFIT MARGINS
dc.subject PRUDENTIAL REGULATION
dc.subject PRUDENTIAL REGULATIONS
dc.subject PUBLIC FUND
dc.subject PUBLIC PENSION
dc.subject PUBLIC PENSIONS
dc.subject PUBLIC PILLAR
dc.subject PUBLIC PILLARS
dc.subject PUBLIC SCHEME
dc.subject PUBLIC SCHEMES
dc.subject QUOTATION SYSTEM
dc.subject RATE OF GROWTH
dc.subject RATE OF RETURN
dc.subject RATES OF INTEREST
dc.subject RATES OF RETURN
dc.subject REGULATORY FRAMEWORK
dc.subject REPLACEMENT RATE
dc.subject REPLACEMENT RATES
dc.subject RESERVES
dc.subject RETAIL FUNDS
dc.subject RETIREE
dc.subject RETIREES
dc.subject RETIREMENT ACCOUNTS
dc.subject RETIREMENT ASSETS
dc.subject RETIREMENT DECISION
dc.subject RETIREMENT INCOME
dc.subject RETIREMENT PRODUCTS
dc.subject RETIREMENT SAVINGS
dc.subject RETIREMENT SYSTEMS
dc.subject RETIRING WORKERS
dc.subject RISK AVERSION
dc.subject RISK MANAGEMENT
dc.subject RISK POOLING
dc.subject RISK PREMIUMS
dc.subject RISK SHARING
dc.subject RISK-FREE RATE
dc.subject SAVINGS SCHEMES
dc.subject SHAREHOLDERS
dc.subject SINGLE LIFE ANNUITIES
dc.subject SOCIAL SECURITY
dc.subject SOCIAL SECURITY SYSTEM
dc.subject SOLVENCY
dc.subject SUPERVISORY AGENCY
dc.subject SUPERVISORY AUTHORITY
dc.subject SUPPLEMENTARY PENSION
dc.subject TAX
dc.subject TAX INCENTIVES
dc.subject TAX PURPOSES
dc.subject TAX TREATMENT
dc.subject TAX-ADVANTAGED SAVINGS
dc.subject TRUSTEES
dc.subject VALUATION
dc.subject VARIABLE ANNUITIES
dc.subject VARIABLE ANNUITY
dc.subject VOLUNTARY PENSION
dc.subject WAGE GROWTH
dc.subject WITHDRAWAL
dc.subject YIELD CURVE
dc.subject YIELD CURVES
dc.title The Payout Phase of Pension Systems : A Comparison of Five Countries
dc.type Publications & Research :: Policy Research Working Paper
dc.coverage Sweden
dc.coverage Chile
dc.coverage Denmark
dc.coverage Australia
dc.coverage Switzerland


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