SUMMARY PAPER Optimal Pension Policy Issues

Private pension funds in most economies are imbedded in a system of public and private pension plans, often with several forms of pension plans coexisting or offered as options (e.g. defined benefit and defined contribution plans), and a tax regime. Varying demographics and economic conditions may be relevant to the goals of policy. This paper raises the question about what policy goals are relevant to the design of an optimal pension system under a range of circumstances and lists some issues and/or contradictions separating pension policies and economic policy goals that are raised by current pension treatment in representative economies