1 / 7

Retirement Savings Adequacy

This document explores the critical aspects of retirement savings adequacy, focusing on how to meet individuals' needs through effective contributions and coverage. It presents six models of long-term provision and suggests two primary approaches to improve system effectiveness: expanding the formal sector and facilitating savings in the informal sector. The role of government is emphasized, along with the need for coherent policy delivery mechanisms, accessibility to financial services, and understanding community needs. Flexibility in contributions and enhanced incentives are key themes for fostering participation.

cara
Télécharger la présentation

Retirement Savings Adequacy

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Retirement Savings Adequacy Contributions & coverage

  2. Understanding and meeting needs • Six models of long-term provision • Two broad approaches to improved system effectiveness • Expand the formal-sector system • Facilitating saving in the informal employment sector • The role for government

  3. Preface: the need for coherence Delivery mechanisms Access to financial services Tier II supervision Social security State facilitation System design & co-ordination State coercion Demand-side research Regulation & supervision Flexibility for innovation Regulatory restraint Reaching communities Formal pension & insurance vehicles Provision to the informal sector Re-defining groups

  4. Understanding and meeting needs • Six models of long-term provision • Social security • Occupational pension funds • Mandatory individual accounts • Voluntary supplementary provision • Facilitated additional provision • Unsupported informal provision

  5. Two broad approaches • Expanding the formal system • Push the mandate to participate • Improve the incentives • Flexibility of contribution • Flexibility of access • Financial incentives • Design incentives • Establish a culture of participation • Learn from the examples

  6. Two broad approaches • Facilitating savings by the informally employed • The government role is spread across functional areas • Long-term saving is not always rational • Communities have other ways of meeting goals • Government support must rest on two pillars • Coherence of policy • A deep understanding of customer need

  7. Refrain: the need for coherence Delivery mechanisms Access to financial services Tier II supervision Social security State facilitation System design & co-ordination State coercion Demand-side research Regulation & supervision Flexibility for innovation Regulatory restraint Reaching communities Formal pension & insurance vehicles Provision to the informal sector Re-defining groups

More Related