Overview

Pensions are a major policy issue in developed and developing countries alike. However, pension reform is challenging and controversial because it involves long-term planning by governments faced with numerous short-term pressures. It often provokes heated ideological debates and, sometimes, street protests. Countries can learn valuable lessons from others' pension systems and their experiences of retirement-income reforms. However, national pension systems are very complicated, involving much institutional, technical, and legal detail. Consequently, international comparisons are very difficult to undertake, making it impossible to transfer policy lessons between countries. Hence, this publication aims to fill this gap, with a particular focus on countries in the Asia/Pacific regions. This study combines rigorous analysis with clear, easy-to-understand presentations of empirical results. It does not advocate any particular kind of pension system or type of reform. The goal is to inform debates on retirement-income systems.

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