Some related articles :
There is now a substantial
accumulation of evidence from the pension reform experiences of middle
income countries over the past two decades, allowing for an evaluation of
their outcomes. Findings from this evaluation lead to important lessons,
both positive and negative, for developing countries.
Contrary to the current pension
reform policy 'orthodoxy' led and financed by the World Bank, the key
implication to be drawn from cumulative evidence from pension reform is
the continued salience of the dominant role of public management in the
provision of old age protection. What has increasingly become a pensions
reform monologue should now become a more inclusive dialogue on policies
World Bank dominates
The dominant international advisory
position occupied by the World Bank and its zealous promotion of a
seemingly one-size-fits-all model for pension reform has crystallised into
what can only be described as a global pension reform monologue. It has
become increasingly difficult for voices critical of the Bank's policy
agenda to make themselves heard in international arenas. Yet the available
evidence, presented in detail in 'Pensions in Development', gives little
support to either the developmental or welfare efficacy of key elements in
the Bank's market-based pension reform strategy.
There are limitations in both
market-based and contributory social insurance pension schemes in meeting
the social protection needs of the growing number of informal sector
workers in developing countries. Our proposal is based on existing
examples of good practice, pays particular attention to issues of cost and
administrative feasibility, and advocates the adoption of mechanisms to
achieve universality in coverage. It includes providing at least a minimal
cash income on a regular basis to all the elderly as a policy priority.
This prioritisation is overtly intended to meet the social protection
needs of the world's growing elderly population, including the most
marginalised among them, the numerous elderly poor in developing countries
currently without 'pensions' or other means of cash support.
A new dialogue
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