Pension systems by country
Appearance
Country | Pillar 0 | Pillar 1 | Pillar 2 | Pillar 3 |
---|---|---|---|---|
Afghanistan | No | Social insurance system | N/A | N/A |
Algeria | Social assistance | Social insurance system | N/A | N/A |
Argentina | Basic pension | Social insurance system | No, closed in 2008 | N/A |
Armenia | Social assistance | Social insurance system | Mandatory individual accounts | Voluntary pensions |
Australia | Social assistance | Mandatory occupational pension system | N/A | N/A |
Austria | No | Social insurance system | Occupational pensions | Private pensions |
Bahrain | No | Social insurance system | N/A | N/A |
Bangladesh | Social assistance | N/A | N/A | N/A |
Belarus | Social assistance | Social insurance system | N/A | N/A |
Belgium | Social assistance | Social insurance system | N/A | N/A |
Bhutan | No | Provident fund system | No | N/A |
Botswana | Basic pension | No | No | N/A |
Brazil | Social assistance | Social insurance system | N/A | N/A |
Brunei | Basic pension | Provident fund system | Supplementary individual account | N/A |
Bulgaria | Social assistance | Social insurance system | Individual accounts | N/A |
Burkina Faso | No | Social insurance system | N/A | N/A |
Burundi | No | Social insurance system | N/A | N/A |
Cameroon | No | Social insurance system | N/A | N/A |
Canada | Basic pension | Canada Pension Plan | N/A | Registered retirement savings plan |
China | Social assistance | Social insurance system | Mandatory individual accounts | N/A |
Czech Republic | Basic pension | Social insurance system | No, canceled in 2016 | Voluntary individual accounts |
Dominican Republic | Social assistance | Mandatory individual accounts | N/A | N/A |
El Salvador | Social assistance | Mandatory individual accounts | N/A | N/A |
Estonia | Social assistance | Social insurance system | Mandatory individual accounts | Voluntary individual accounts |
Eswatini | Social assistance | Provident fund system | N/A | N/A |
France | Social assistance | Social insurance system | Mandatory occupational pension provision |
|
Georgia | Basic pension | N/A | N/A | N/A |
Germany | Social assistance | Social insurance system | Voluntary occupational pension insurance | Private pension schemes |
Hong Kong | Basic pension | Provident fund system | N/A | N/A |
Hungary | Social assistance | Private pension fund | Voluntary pension fund | N/A |
India | Social assistance | Mandatory Provident Fund | Voluntary pension insurance | Individual private pension plans |
Ireland | Basic pension | Social insurance system Pay Related Social Insurance | Occupational pension schemes | N/A |
Italy | Social assistance | Notional Defined Contributions | N/A | N/A |
Japan | N/A | N/A | N/A | N/A |
Jordan | No | Social insurance system | N/A | N/A |
Kazakhstan | Basic pension | Mandatory individual accounts | N/A | N/A |
Kenya | Older Persons Cash Transfer | Mandatory individual accounts | No | N/A |
Kyrgyzstan | Social assistance | Notional Defined Contributions | No | N/A |
Latvia | Social assistance | Notional Defined Contributions | Mandatory individual accounts | Voluntary individual accounts |
Lithuania | Social assistance | Social insurance system | Voluntary pension fund | Voluntary individual accounts |
Luxembourg | No | Social insurance system | N/A | N/A |
Malawi | no | Mandatory individual accounts | N/A | N/A |
Malaysia | Social assistance | Provident Fund System (KWSP) or Individual pension account (KWAP/LTAT) | Provident Fund System | Voluntary individual accounts: |
Mexico | Social assistance | Mandatory individual accounts | N/A | N/A |
Monaco | No | Social insurance system | No | N/A |
Mongolia | Social assistance | Notional Defined Contributions | N/A | N/A |
Morocco | No | Social insurance system | N/A | N/A |
Mozambique | Social assistance | Social insurance system | N/A | N/A |
Namibia | Social assistance | Social insurance system | N/A | N/A |
Nepal | Social assistance | Provident fund system | N/A | N/A |
Netherlands | Social assistance | Social insurance system | Private employee pensions | Individual private pensions |
New Zealand | Basic pension | Individual accounts | N/A | N/A |
Nigeria | No | Mandatory individual accounts | No | N/A |
North Korea | N/A | N/A | N/A | N/A |
Norway | Basic pension | Notional Defined Contributions | Occupational pension schemes | Individual pensions |
Oman | No | Social insurance system | N/A | N/A |
Pakistan | No | Social insurance system | N/A | N/A |
Papua New Guinea | No | Mandatory occupational retirement system | N/A | N/A |
Philippines | Social assistance | Social insurance system | N/A | N/A |
Poland | Basic pensions for mothers of four or more children from March 2019 | Notional Defined Contributions | Voluntary Open Pension Funds (OFE) | Voluntary individual accounts: |
Portugal | Social assistance | Social insurance system | N/A | N/A |
Qatar | No | Social insurance system | N/A | N/A |
Romania | No | Social insurance system | Mandatory individual accounts | Voluntary individual accounts |
Russia | Basic pension | Social insurance system | Mandatory pension funds | Voluntary private pension funds |
Rwanda | No | Social insurance system | N/A | N/A |
Saudi Arabia | No | Social insurance system | N/A | N/A |
Senegal | No | Social insurance system | N/A | N/A |
Sierra Leone | No | Social insurance system | N/A | N/A |
Singapore | Social assistance | Provident fund system | N/A | N/A |
Slovakia | Basic pension | Social insurance system | Voluntary individual accounts | N/A |
Slovenia | Social assistance | Social insurance system | N/A | N/A |
Solomon Islands | No | Provident fund system | N/A | N/A |
South Africa | Basic pension | N/A | N/A | N/A |
South Korea | Social assistance | Social insurance system | N/A | N/A |
South Sudan | No | No | No | N/A |
Spain | Social assistance | Social insurance system | N/A | N/A |
Sri Lanka | No | Provident fund system | Supplementary fund | N/A |
Sudan | No | Social insurance system | N/A | N/A |
Sweden | Basic pension | Notional Defined Contributions | Mandatory individual accounts | N/A |
Switzerland | N/A | Social insurance system | Mandatory occupational pension system | Voluntary pensions funds and endowment policy insurances with tax benefits |
Syria | N/A | N/A | N/A | N/A |
Taiwan | Social assistance | Social insurance system | Mandatory individual accounts | N/A |
Tanzania | No | Social insurance system | N/A | N/A |
Thailand | Social assistance | Social insurance system | Voluntary national savings fund | N/A |
Turkey | Social assistance | Social insurance system | N/A | N/A |
Turkmenistan | Social assistance | Notional Defined Contributions | N/A | N/A |
Uganda | No | Provident fund system | N/A | N/A |
Ukraine | Social assistance | Social insurance system | Mandatory state pension fund | Voluntary individual pensions |
United Arab Emirates | No | Social insurance system | N/A | N/A |
United Kingdom | Basic pension | Social insurance system | Occupational schemes | Voluntary individual pensions:
|
United States | Social assistance | Social insurance system | N/A | N/A |
Uruguay | Social assistance | Social insurance system | Mandatory individual accounts | N/A |
Uzbekistan | Social assistance | Mandatory individual accounts | N/A | N/A |
Venezuela | Social assistance | Social insurance system | N/A | N/A |
Vietnam | Social assistance | Social insurance system | N/A | N/A |
Zambia | No | Social insurance system | N/A | N/A |
Zimbabwe | No | Social insurance system | N/A | N/A |
Notable examples of pension systems by country
[edit]Some of the listed systems might also be considered social insurance.
- Argentina – Administración Nacional de la Seguridad Social
- Armenia – Pensions in Armenia
- Australia:
- Superannuation in Australia – Private, and compulsory, individual retirement contribution system.
- Social Security – Public pensions
- Austria – Pensions in Austria
- Canada:
- Finland – Kansaneläkelaitos
- France:
- Hong Kong:[3]
- Mandatory Provident Fund (MPF Schemes)
- Occupational Retirement Schemes (ORSO Schemes)
- India:
- Iranian Social Security Civil Servants Pension Fund
- Japan – National Pension
- Malaysia:
- Employees Provident Fund – Private voluntary retirement contribution system
- Retirement Fund – Public pensions
- Armed Forces Fund Board – Military pensions
- Mexico – Mexico Pension Plan
- Netherlands – Algemene Ouderdomswet
- New Zealand:
- New Zealand Superannuation – public pensions
- KiwiSaver – Private voluntary retirement contribution system
- Poland – Social Insurance Institution
- Singapore – Central Provident Fund
- South Korea – National Pension Service
- Sweden – Social security in Sweden
- Switzerland – Pension system in Switzerland
- United Kingdom:
- United States:
- Vanuatu – Vanuatu National Provident Fund