Towards a new pensions settlement
A new book 'Towards a new pensions settlement' has been published which weighs the experiences of eight nations across the Americas, Asia and Europe, who have in common early adoption of defined contribution pensions, but very different experiences of mitigation of that risk by the state, either directly through the degree of generosity of the state pension or indirectly through regulation of private pension provision.
As the UK (and the world) gears up for the age of defined contribution pensions, this book examines different approaches to pension scheme design. Best practice is always worth learning from and each chapter is written by an expert on their chosen pension system.
Patrick Nolan of the Productivity Commission authored the New Zealand chapter reviewing defined contribution pension schemes in eight countries. He provides a broad overview of New Zealand’s pension system and notes that while the New Zealand system may be simple by international standards it is not free from challenges.