Rethinking Pension Reform [Hardcover]

This book presents perspectives on managing pension funds and clarifies the international debate on social security.This book is unique as it presents an academic and a practical aspect on managing pension funds to clarify the global debate on social security. The authors establish the basic choices in designating any system to help policy makers develop the system that achieves their many objectives. The success of reforms depends on financial innovation to mitigate key risks and some innovations are discussed, which also demonstrates how pension reform choices affect the achievement of retirement objectives. Finally, the authors examine some proposed hybrid options to show how the beneficial features of these hybrids can be captured through good design in a single fund.This book is unique as it presents an academic and a practical aspect on managing pension funds to clarify the global debate on social security. The authors establish the basic choices in designating any system to help policy makers develop the system that achieves their many objectives. The success of reforms depends on financial innovation to mitigate key risks and some innovations are discussed, which also demonstrates how pension reform choices affect the achievement of retirement objectives. Finally, the authors examine some proposed hybrid options to show how the beneficial features of these hybrids can be captured through good design in a single fund.To clarify the global debate on social security, the authors establish the basic choices in designating any system to help policy makers develop the system that achieves their many objectives. Because the success of reforms depends on financial innovation to mitigate key risks, innovations are discussed which demonstrate how pension reform choices affect the achievement of retirement objectives. Finally, the authors examine proposed hybrid options to show how their beneficial features can be captured through planning within a single fund. l“„