The Challenge of Public Pension Reforms in Advanced and Emerging Market Economies

From the International Monetary Fund's Fiscal Affairs Department, this report aims to help IMF member countries in their efforts to meet challenges in public pension reform as their populations age. It examines the current pension landscape and the future outlook for public pension spending in 53 advanced and emerging market economies, along with options for reform. It surveys the design of public pension systems in these countries, shows that old-age benefits account for about three-quarters of total public pension spending, considers past trends in spending and their underlying factors, reviews the main reforms implemented in these countries over the past decade, presents projections for spending to 2030 and 2050, addresses uncertainty with respect to these projections, discusses considerations that should guide reform, and outlines reform options. The report builds on the paper, "The Challenge of Public Pension Reform in Advanced and Emerging Economies," prepared by the IMF's Fiscal Affairs Department and presented in January 2012. It provides more details on the demographic challenges facing countries. Annotation c2013 Book News, Inc., Portland, OR (booknews.com)