All advanced countries have public pension systems. Recently, many have had debates about change and many have had legislative changes. The talk will discuss the principles of good pension design in the context of a realistic picture of individual saving and investment behaviors and of the functioning of asset markets. Attention will be given to responses to demographic and economic trends and risks. Examples of systems in several different countries will be described.
Reading: Nicholas Barr and Peter Diamond, Pension Reform: A Short Guide, Oxford: Oxford University Press, 2010. Also available in Chinese, Polish and Spanish.