WorldBank, OECD and ING join forces to study performance of private pension systems in developing, transition economies
The World Bank, the Organization for Economic Co-operation and Development (OECD), and Dutch financial services group, ING have agreed to join forces in a new research partnership to study how privatized pension systems have performed in a wide range of developing and transition economies during the past twenty years.
Washington, D.C., 26 September 2005
Initialing their new agreement at the World Bank in Washington this morning, the three groups agreed to evaluate the performance and efficiency of funded pension arrangements in these countries, and seek explanations for their different experiences. During the past two decades, many countries have fully or partially privatized the management of their systems that provide income and financial support in retirement. Many others are actively considering proposals to move in this direction. Though there is wide international consensus about the importance of privately managed funded pensions, the way these systems are best organized and operated is still under discussion.
The first project within the scope of the research agreement will focus on the ‘Financial performance of private pension funds’. Despite the growing role of the private sector in retirement provision, there have been few comparisons of the performance of these private systems. By gathering and comparing detailed data from a number of emerging economies and some mature countries, the three partners will make an analysis of the performance of privately managed pension funds. The results of the research will be shared through open conferences, workshops and widely available publications.