Financial System Requirements for Successful Pension Reform
42 Pages Posted: 10 Jul 2020
Date Written: June 1, 2003
Abstract
This paper examines the financial system prerequisites needed for the successful delivery of funded private pensions. In particular, it examines the financial instruments and investment strategies required during both the accumulation and decumulation stages. It does so within the context of a specific developed economy with a mature pension system, namely the United Kingdom. The lessons learned can help to inform the debate in developing countries that are in the process of undertaking pension reform.
Keywords: funded pension scheme, defined benefit, defined contribution, fund management, performance measurement, annuities
JEL Classification: E21, G11, G23
Suggested Citation: Suggested Citation