World Bank proposes new five-tier pension model

From Investments and Pensions Europe:

The World Bank appears to have bowed tocriticism of the so-called World Bank pension model by put ting forwarda new five-pillar framework.The bank’s model was outlined more than a decade ago in ‘Avertingthe Old Age Crisis’ and has been used as a framework in many developingcountries. It introduced the three-pillar model and the concept ofmandatory individual funded savings.But it has come under fire for being inefficient and benefiting asset managers at the expense of pensioners.

Read the rest of the story here.  Related links:

• The World Bank
• OECD–Aging Society
• OECD–Pensions at a Glance