Designing the Payout Phase of Funded Pension Pillars in Central and Eastern European Countries

• Tác giả: Dimitri Vittas
• Ngôn ngữ: eng
• Ký hiệu phân loại: 351.5 Public administration
• Thông tin xuất bản: 2012
• Bộ sưu tập: Tài liệu truy cập mở
• ID: 325836
• Chủ đề: 1. ACCOUNTING; 2. ACCUMULATED SAVINGS; 3. ACTIVE MARKET; 4. ADVERSE SELECTION; 5. ANNUITY MARKET

Tóm tắt

Over the past decade or so, most Central and Eastern European countries have reformed their pension systems, significantly downsizing their public pillars and creating private pillars based on capitalization accounts. Early policy attention was focused on the accumulation phase but several countries are now reaching the stage where they need to address the design of the payout phase. This paper reviews the complex policy issues that will confront policymakers in this effort and summarizes recent plans and developments in four countries (Poland, Hungary, Estonia, and Lithuania). The paper concludes by highlighting a number of options that merit detailed consideration.