Reforms to social security and pension systems are being undertaken in a variety of nations around the world, not just in Europe and North America. Many of these nations are motivated by aging population and declining birth rates, but reforms are also occurring because of economic development, particularly in areas such as China, the Americas, and parts of Africa.
This book provides a detailed overview of many such reforms occurring in nations around the world, and should prove to be an oft-used resource for anyone interested in how social security and voluntary and employer-provided pension systems are evolving in differing regions and economic systems.
Contributors to the book highlight trends among some countries, such as the adoption of fluctuating automatic mechanisms for maintaining social security solvency, raising the minimum age for eligibility, and implementation of policies to postpone retirement, and they show how developing countries such as China and Kenya are initiating programs that, for the first time, offer workers social security or pensions. The contributors also discuss a range of financing mechanisms, benefit levels, privatization, governance, the various types of employer-provided plans, mandatory accounts for social security, and financial literacy.