Optimal financing and self-adjusting mechanisms for sustainable retirement systems

Organization(s): ILO
Author: Anne Drouin, Michael Cichon
Regions: World
Year: 2009
Language: English

This brief paper first recapitulates the main pension financing options and reviews the theoretical pros and cons of pension funding seeking for a logical synthesis. In the second part of the paper, a broad review of the historical experience of pension reforms since the 1980’s is presented as well as in the context of the recent financial and economic crisis. A proposal is then presented to enable the social and financial stabilizations of public pension reforms with a view to guarantee pension levels in times of crisis and beyond. The paper ends with an outline of the main principles of a pragmatic ILO pension policy stance. The present paper focuses primarily on contributory public pension arrangements.

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