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Reforming Pensions – Principles and Policy Choices - Oxford Scholarship Online
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Reforming Pensions: Principles and Policy Choices

Nicholas Barr and Peter Diamond


Mandatory pension systems are a worldwide phenomenon. Many need reform. This book, a summary of a longer book, sets out an extensive but nontechnical explanation of the economics of pension design. The book recognizes the multiple objectives of pension plans—consumption smoothing, insurance, poverty relief, and redistribution. Analysis includes discussion of labor markets, capital markets, risk sharing, and gender and family. This is supplemented by discussion of implementation, and of experiences, both good and bad, in many countries, with particular attention to China and Chile.

Keywords: aging crisis, annuities, defined-benefit pensions, defined-contribution pensions, demographic change, pension design, insurance, pension systems, retirement, social security

Bibliographic Information

Print publication date: 2008 Print ISBN-13: 9780195311303
Published to Oxford Scholarship Online: September 2009 DOI:10.1093/acprof:oso/9780195311303.001.0001


Affiliations are at time of print publication.

Nicholas Barr, author
London School of Economics
Author Webpage

Peter Diamond, author
Massachusetts Institute of Technology
Author Webpage