Pension reform is high on the policy agenda of many advanced and emerging market economies. In advanced economies the challenge is generally to contain future increases in public pension spending as the population ages. In emerging market economies, the challenges are often different. Where pension coverage is extensive, the issues are similar to those in advanced economies. Where pension coverage is low, the key challenge will be to expand coverage in a fiscally sustainable manner. This volu...

A number of countries have reversed pension reforms by redirecting contributions from private sector, defined contribution schemes back to public sector, pay as you go schemes. This has been motivated by the desire to improve headline fiscal indicators, and raises important issues regarding how pension reforms and reversals should be incorporated into the fiscal accounts and assessments of fiscal policy. The SDN addresses these issues and proposes how pension reforms can best be incorporat...