Gordon L. Clark is the Halford Mackinder Professor of Geography, Professorial Fellow of the Saïd Business School, and Faculty Associate of the Institute of Ageing at the University of Oxford, and is a Fellow of St Peter's College, Oxford. He is a member of the Panel of Academic Experts of the UK National Association of Pension Funds and a Governor of the Pensions Policy Institute.Alicia H. Munnell is the Peter F. Drucker Professor in Management Sciences at Boston College's Carroll School of Management. Previously, Professor Munnell was a Member of the President's Council of Economic Advisers (1995-1997) and Assistant Secretary of the Treasury for Economic Policy (1993-1995). She spent most of her professional career at the Federal Reserve Bank of Boston, where she became Senior Vice President and Director of Research in 1984. Professor Munnell was co-founder and first President of the National Academy of Social Insurance and is currently a member of the American Academy of Arts and Sciences, the Institute of Medicine, the National Academy of Public Administration, and the Pension Research Council at Wharton. She is a member of the Board of the Wheeling-Pittsburgh Steel Corporation, The Century Foundation, the National Bureau of Economic Research, and the Pension Rights Center.; J. Michael Orszag is Head of Research at Towers Watson Worldwide

a very good resource. Anna M. Rappaport, The Journal of PEF The Oxford Handbook of Pensions and Retirement Income is sure to become an invaluable reference for researchers and students, actuaries and benefits counselors, corporate and labor-oriented analysts, and indeed all in the pension design and financial services business. Volume contributors are leading authorities who provide a systematic and thorough review of the diverse issues that arise in the structuring, management, regulation, and understanding of public and private pension systems. Chapters include a diverse set of financial, economic, historical, and institutional perspectives shaping the key institutions on which so many millions rely for financial security around the globe. This book will be a welcome addition to my bookshelf. Olivia S. Mitchell, International Foundation of Employee Benefit Plans Professor; Executive Director of The Pension Research Council; The Wharton School of the University of Pennsylvania This is a fascinating and incredibly useful book for anyone interested in the problem of retirement income provision. Its 42 chapters by the leading thinkers and researchers in the subject cover almost every imaginable topic, from the history of retirement plans, through current structures and problems to the future. By producing this book, Clark, Munnell, and Orszag have provided an invaluable resource. Michael J. Clowes, author of The Money Flood: How Pension Funds Revolutionized Investing In terms of scale and scope, this is surely the most comprehensive handbook on pensions and retirement ever compiled. This makes it a 'must have' for every serious student of this fascinating field. Keith Ambachtsheer, Director, Rotman International Centre for Pension Management, University of Toronto Today, there are only few accurate overviews on the actual state of pension issues in an international comparative context. With respect to this fact, The Oxford Handbook of Pension and Retirement Income closes an obvious gap between theoretical concepts and practical experiences using a reader-friendly format. Combining leadership experience with practical background from comparative viewpoints, the authors provide useful insights into the different approaches and the common goal of pension systems worldwide. Many thanks to the publishers of this exciting oeuvre for an important contribution to modern socio-economic discussions on pension systems. Dr. Werner Nussbaum, Legal expert for pension systems, Berne/Seoul

• INTRODUCTION; I RETIREMENT IN CONTEXT; CREATING MODERN RETIREMENT; THE ECONOMIC CONTEXT; II PUBLIC RETIREMENT PLANS; STATE OLD-AGE PENSION PROGRAMS; ENTITLEMENTS AND PENSIONS; III EMPLOYMENT-SPONSORED RETIREMENT PLANS; STRUCTURE OF EMPLOYER-SPONSORED PENSIONS; PENSION PLAN INVESTMENTS; PENSION PLAN GOVERNANCE; IV INDIVIDUAL AND HOUSEHOLD RETIREMENT PROVISION; INDIVIDUAL PNESIONS, INSURANCE, AND SAVING; INDIVIDUAL AND HOUSEHOLD RETIREMENT PLANNING; V LOOKING AHEAD; PROSPECTIVE MODELS; CHALLENGES; EMERGING ECONOMIES; CODA

Gordon L. Clark is the Halford Mackinder Professor of Geography, Professorial Fellow of the Saïd Business School, and Faculty Associate of the Institute of Ageing at the University of Oxford, and is a Fellow of St Peter's College, Oxford. He is a member of the Panel of Academic Experts of the UK National Association of Pension Funds and a Governor of the Pensions Policy Institute.Alicia H. Munnell is the Peter F. Drucker Professor in Management Sciences at Boston College's Carroll School of Management. Previously, Professor Munnell was a Member of the President's Council of Economic Advisers (1995-1997) and Assistant Secretary of the Treasury for Economic Policy (1993-1995). She spent most of her professional career at the Federal Reserve Bank of Boston, where she became Senior Vice President and Director of Research in 1984. Professor Munnell was co-founder and first President of the National Academy of Social Insurance and is currently a member of the American Academy of Arts and Sciences, the Institute of Medicine, the National Academy of Public Administration, and the Pension Research Council at Wharton. She is a member of the Board of the Wheeling-Pittsburgh Steel Corporation, The Century Foundation, the National Bureau of Economic Research, and the Pension Rights Center.; J. Michael Orszag is Head of Research at Towers Watson Worldwide

a very good resource. Anna M. Rappaport, The Journal of PEF The Oxford Handbook of Pensions and Retirement Income is sure to become an invaluable reference for researchers and students, actuaries and benefits counselors, corporate and labor-oriented analysts, and indeed all in the pension design and financial services business. Volume contributors are leading authorities who provide a systematic and thorough review of the diverse issues that arise in the structuring, management, regulation, and understanding of public and private pension systems. Chapters include a diverse set of financial, economic, historical, and institutional perspectives shaping the key institutions on which so many millions rely for financial security around the globe. This book will be a welcome addition to my bookshelf. Olivia S. Mitchell, International Foundation of Employee Benefit Plans Professor; Executive Director of The Pension Research Council; The Wharton School of the University of Pennsylvania This is a fascinating and incredibly useful book for anyone interested in the problem of retirement income provision. Its 42 chapters by the leading thinkers and researchers in the subject cover almost every imaginable topic, from the history of retirement plans, through current structures and problems to the future. By producing this book, Clark, Munnell, and Orszag have provided an invaluable resource. Michael J. Clowes, author of The Money Flood: How Pension Funds Revolutionized Investing In terms of scale and scope, this is surely the most comprehensive handbook on pensions and retirement ever compiled. This makes it a 'must have' for every serious student of this fascinating field. Keith Ambachtsheer, Director, Rotman International Centre for Pension Management, University of Toronto Today, there are only few accurate overviews on the actual state of pension issues in an international comparative context. With respect to this fact, The Oxford Handbook of Pension and Retirement Income closes an obvious gap between theoretical concepts and practical experiences using a reader-friendly format. Combining leadership experience with practical background from comparative viewpoints, the authors provide useful insights into the different approaches and the common goal of pension systems worldwide. Many thanks to the publishers of this exciting oeuvre for an important contribution to modern socio-economic discussions on pension systems. Dr. Werner Nussbaum, Legal expert for pension systems, Berne/Seoul

• INTRODUCTION; I RETIREMENT IN CONTEXT; CREATING MODERN RETIREMENT; THE ECONOMIC CONTEXT; II PUBLIC RETIREMENT PLANS; STATE OLD-AGE PENSION PROGRAMS; ENTITLEMENTS AND PENSIONS; III EMPLOYMENT-SPONSORED RETIREMENT PLANS; STRUCTURE OF EMPLOYER-SPONSORED PENSIONS; PENSION PLAN INVESTMENTS; PENSION PLAN GOVERNANCE; IV INDIVIDUAL AND HOUSEHOLD RETIREMENT PROVISION; INDIVIDUAL PNESIONS, INSURANCE, AND SAVING; INDIVIDUAL AND HOUSEHOLD RETIREMENT PLANNING; V LOOKING AHEAD; PROSPECTIVE MODELS; CHALLENGES; EMERGING ECONOMIES; CODA

Gordon L. Clark is the Halford Mackinder Professor of Geography, Professorial Fellow of the Saïd Business School, and Faculty Associate of the Institute of Ageing at the University of Oxford, and is a Fellow of St Peter's College, Oxford. He is a member of the Panel of Academic Experts of the UK National Association of Pension Funds and a Governor of the Pensions Policy Institute.Alicia H. Munnell is the Peter F. Drucker Professor in Management Sciences at Boston College's Carroll School of Management. Previously, Professor Munnell was a Member of the President's Council of Economic Advisers (1995-1997) and Assistant Secretary of the Treasury for Economic Policy (1993-1995). She spent most of her professional career at the Federal Reserve Bank of Boston, where she became Senior Vice President and Director of Research in 1984. Professor Munnell was co-founder and first President of the National Academy of Social Insurance and is currently a member of the American Academy of Arts and Sciences, the Institute of Medicine, the National Academy of Public Administration, and the Pension Research Council at Wharton. She is a member of the Board of the Wheeling-Pittsburgh Steel Corporation, The Century Foundation, the National Bureau of Economic Research, and the Pension Rights Center.; J. Michael Orszag is Head of Research at Towers Watson Worldwide

a very good resource. Anna M. Rappaport, The Journal of PEF The Oxford Handbook of Pensions and Retirement Income is sure to become an invaluable reference for researchers and students, actuaries and benefits counselors, corporate and labor-oriented analysts, and indeed all in the pension design and financial services business. Volume contributors are leading authorities who provide a systematic and thorough review of the diverse issues that arise in the structuring, management, regulation, and understanding of public and private pension systems. Chapters include a diverse set of financial, economic, historical, and institutional perspectives shaping the key institutions on which so many millions rely for financial security around the globe. This book will be a welcome addition to my bookshelf. Olivia S. Mitchell, International Foundation of Employee Benefit Plans Professor; Executive Director of The Pension Research Council; The Wharton School of the University of Pennsylvania This is a fascinating and incredibly useful book for anyone interested in the problem of retirement income provision. Its 42 chapters by the leading thinkers and researchers in the subject cover almost every imaginable topic, from the history of retirement plans, through current structures and problems to the future. By producing this book, Clark, Munnell, and Orszag have provided an invaluable resource. Michael J. Clowes, author of The Money Flood: How Pension Funds Revolutionized Investing In terms of scale and scope, this is surely the most comprehensive handbook on pensions and retirement ever compiled. This makes it a 'must have' for every serious student of this fascinating field. Keith Ambachtsheer, Director, Rotman International Centre for Pension Management, University of Toronto Today, there are only few accurate overviews on the actual state of pension issues in an international comparative context. With respect to this fact, The Oxford Handbook of Pension and Retirement Income closes an obvious gap between theoretical concepts and practical experiences using a reader-friendly format. Combining leadership experience with practical background from comparative viewpoints, the authors provide useful insights into the different approaches and the common goal of pension systems worldwide. Many thanks to the publishers of this exciting oeuvre for an important contribution to modern socio-economic discussions on pension systems. Dr. Werner Nussbaum, Legal expert for pension systems, Berne/Seoul

• INTRODUCTION; I RETIREMENT IN CONTEXT; CREATING MODERN RETIREMENT; THE ECONOMIC CONTEXT; II PUBLIC RETIREMENT PLANS; STATE OLD-AGE PENSION PROGRAMS; ENTITLEMENTS AND PENSIONS; III EMPLOYMENT-SPONSORED RETIREMENT PLANS; STRUCTURE OF EMPLOYER-SPONSORED PENSIONS; PENSION PLAN INVESTMENTS; PENSION PLAN GOVERNANCE; IV INDIVIDUAL AND HOUSEHOLD RETIREMENT PROVISION; INDIVIDUAL PNESIONS, INSURANCE, AND SAVING; INDIVIDUAL AND HOUSEHOLD RETIREMENT PLANNING; V LOOKING AHEAD; PROSPECTIVE MODELS; CHALLENGES; EMERGING ECONOMIES; CODA