Pension Reforms and the Development of Pension Systems: an Evaluation of World Bank AssistancePension systems are a critical tool in reducing poverty among the elderly. But an aging population, poor administration, early retirement, and unaffordable benefits have strained both pension balances and overall public finances, lending urgency to the call for pension reform.
Over the past two decades, the Bank has supported a wide variety of reforms through lending operations and analytical and advisory activities in 68 countries, and helped build institutional capacity to strengthen pension administration. The World Bank's basic approach was to recommend the establishment of a multi-pillar pension system, provided sound macroeconomic conditions and an adequate financial sector were in place. This evaluation presents the first comprehensive assessment of these activities. It sums up what has been learned and offers recommendations to strengthen future reform efforts.
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capacity building Institutional Strengthening Monitoring and Evaluation Poverty Reduction Strategies
