Lars Bovenberg, Casper van Ewijk and Ed Westerhout (eds.) (2012). The Future of Multi-Pillar Pensions. Cambridge, UK: Cambridge University Press, 434 pp. ISBN 978 1 1070 2226 3 (hardback)

摘要

In 1994, TheWorld Bank report Averting the Old Age Crisis which proposedthree pension pillars initiated a lively public- and academic debateregarding ageing and pensions. The Future of Multi-Pillar Systems bringing together 11 chapters of 15 authors aims to assess what hascome of that debate and to reconsider ‘‘the multi-pillar pension schemeagainst the background of demographic and other trends and a severefinancial and debt crisis.’’Hinz, a World Bank-affiliated author, pictures the current World Bankposition, which is essentially unaltered. Pension systems have threefunctions (corresponding with the three pillars): redistribution, includingpoverty alleviation; insurance; and consumption smoothing. Hinz proposesthat individual savings or privately managed accounts are moreefficient. This may deepen capital markets.