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The payout phase of pension systems : a comparison of five countries, Volume 1
 
Author:Rocha, Roberto; Vittas, Dimitri; Rudolph, Heinz P.; Country:Switzerland; Australia; Denmark; Chile; Sweden;
Date Stored:2010/04/29Document Date:2010/04/01
Document Type:Policy Research Working PaperSubTopics:Emerging Markets; Debt Markets; Pensions & Retirement Systems; Insurance & Risk Mitigation; Investment and Investment Climate
Language:EnglishRegion:East Asia and Pacific; Europe and Central Asia; Latin America & Caribbean
Report Number:WPS5288Collection Title:Policy Research working paper ; no. WPS 5288
Volume No:1  

Summary: This paper provides a comparative summary of the payout phase of pension systems in five countries -- Australia, Chile, Denmark, Sweden, and Switzerland. All five countries have large pension systems with mandatory or quasi-mandatory retirement savings schemes. But they exhibit important differences in the structure and role of different pillars, regulation of payout options, level of annuitization, market structure, capital regulations, risk management, and use of risk sharing arrangements. The paper summarizes the experience of these countries and highlights the lessons they offer to other countries.

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