A Framework for Pension Reform. Design and Implementation Issues. Structure of the Report. CONCEPTUAL UNDERPINNINGS. The Need for Reform. Fiscal Pressure: Short-Term Urgencies and Long-Term Needs. Delivering on Promises. Aligning Systems with Socioeconomic Changes. Challenges and Opportunities of Globalization. The Contours of Promising Reform Directions. Conceptual Foundations of the World Bank’s Perspective. The Social Risk Management Framework. Rationale for Public Intervention. The Multipillar Approach: Diversification and Efficiency. The (Net) Benefits of Funding. A Benchmark, Not a Blueprint. Goals and Criteria That Define the. World Bank’s Perspective. Primary Goals: Adequate, Affordable, Sustainable, and Robust Pensions. Secondary Goal: Contribution to Economic Development. Reform Criteria. World Bank Lending to Support Pension Reform. Scope of the World Bank’s Pension Lending. Diversity of Pension Reforms. DESIGN AND IMPLEMENTATION ISSUES. General and Country-Specific Options for the Reform of Pension Systems. General Options for Reform. Country-Specific Options for Reform:. Policy Progression and Path Dependency. Key Reform Issues: Firm Positions and Open Questions. Pillar Design, Poverty Relief, and Redistribution. Financial Sustainability Issues. Management of Public Pension Funds. Administrative and Implementation Issues. Readiness and Regulatory and Supervisory Financial Market Issues. Political Economy and Organization of Pension Reforms. Examples of Reform Dilemmas and Questions. Regional Experiences:. Developments and First Evaluation of Reform. Latin America and the Caribbean. Central and Eastern Europe and Central Asia. South Asia. Sub-Saharan Africa. Middle East and North Africa. East Asia. Final Remarks.

Holzmann, Robert; Hinz, Richard. (2005). Old-Age income support in the 21st century: an international perspective on pensión system and reform ([No definido] ed.). The World Bank.