Abstract
It is desirable that pension reforms and legislated rules have the backing of thepopulation or at least are accepted by voters. With the objective of achieving “acceptance,”the Swedish Pensions Agency publishes an annual actuarial balance of the solvency of the whole public pension system and distributes to each participant information on his or her individual accumulated notional balance and funded accounts, movements during the year,and estimates of the projected individual future pension amount. This paper describes the Swedish pension experience in communication with pension participants over the last decade, together with the main changes in information delivered to improve individuals’ pension knowledge and help them make more informed, better decisions on work, savings,and retirement.
Original language | English |
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Publisher | World Bank |
Number of pages | 39 |
Volume | 1925 |
Publication status | Published - 1 Apr 2019 |
Keywords
- pension system
- improvements in life expectancy
- access to financial information
- public pension system
- pension agency
- retirement age
- channels of communication
- future pension
- gross domestic product
- forms of insurance
- defined contribution pension
- normal retirement age
- social insurance benefit
- sickness and disability
- consumer price index
- payment of contributions
- average wage growth
- economically active population
- real growth rate
- stocks and shares
- degree of confidence
- social insurance system
- public information campaign
- retirement income system
- asset over liability
- pension benefit
- pension account
- accounting information
- income index
- notional account
- pension issue
- pension credit
- balancing mechanism
- financial sustainability
- retirement decision
- survey results
- fund account
- pensions
- pension payment
- financial health
- national pension
- pension information