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Designing the Payout Phase of Pension Systems : Policy Issues, Constraints and Options / Rocha, Roberto
World Bank Open Knowledge Repository (formerly "World Bank E-Library Publications") Available online
View online- Format:
- Book
- Government document
- Author/Creator:
- Rocha, Roberto
- Series:
- Policy research working papers.
- World Bank e-Library.
- Language:
- English
- Subjects (All):
- Bequest.
- Bequests.
- Capital Markets Development.
- Debt Markets.
- Emerging Markets.
- Finance and Financial Sector Development.
- Financial Institutions.
- Global Capital.
- Global Capital Markets.
- Indexed bonds.
- Inflation.
- Insurance.
- Insurance & Risk Mitigation.
- Insurance markets.
- International Bank.
- Investing.
- Liquidity.
- Liquidity risks.
- Non Bank Financial Institutions.
- Pension.
- Pension reforms.
- Pension Systems.
- Pensions & Retirement Systems.
- Private Sector Development.
- Risk management.
- Risk sharing.
- Social Protections and Labor.
- Variable Annuities.
- Local Subjects:
- Bequest.
- Bequests.
- Capital Markets Development.
- Debt Markets.
- Emerging Markets.
- Finance and Financial Sector Development.
- Financial Institutions.
- Global Capital.
- Global Capital Markets.
- Indexed bonds.
- Inflation.
- Insurance.
- Insurance & Risk Mitigation.
- Insurance markets.
- International Bank.
- Investing.
- Liquidity.
- Liquidity risks.
- Non Bank Financial Institutions.
- Pension.
- Pension reforms.
- Pension Systems.
- Pensions & Retirement Systems.
- Private Sector Development.
- Risk management.
- Risk sharing.
- Social Protections and Labor.
- Variable Annuities.
- Physical Description:
- 1 online resource (59 pages)
- Other Title:
- Designing The Payout Phase Of Pension Systems
- Place of Publication:
- Washington, D.C., The World Bank, 2010
- System Details:
- data file
- Summary:
- This paper examines the policy issues, constraints and options facing policymakers in promoting the development of sound markets for retirement products. It discusses the various risks faced by pensioners and the risk characteristics of alternative retirement products and also reviews the risks faced by providers of retirement products and the management and regulatory challenges of dealing with these risks. The paper focuses on policies that could be adopted by developing and transitioning countries where financial and insurance markets are not well developed. It argues for promoting an adequate level of annuitization but avoiding excessive annuitization. It also argues for favoring combinations of payout options, covering different products at a particular point in time as well as different payout options over time. The paper also discusses the choice between centralized and decentralized markets and highlights the basic elements of an effective regulation of risk management.
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