Authors:

• Manuel García-Huitrón – APG
• Eduard Ponds – APG and Tilburg University

Overview:

This paper provides an in-depth comparison between individually funded pension plans worldwide. The great variety in the designs of the plans are a reflection of historical, cultural and institutional diversity. The authors propose a new classification consisting in four models of plans, mainly based on the architecture of choice and the type of regulation. They illustrate the characteristics of each model with 12 case studies of pension plans from 11 countries. Important lessons emerge from international best practices, without any regulatory comparison. The models provide guidelines for redesigning the pension plan for Holland, with respect to choice and participation, linked to the culture and practice in that country.

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