• 1. Introduction and overview Salvador Valdés-Prieto; Part I. The Politics of Mandatory Pensions: 2. Insulation of pensions from political risk Peter Diamond; 3. Democracy and pensions in Chile: experience with two systems Oscar Godoy and Salvador Valdés-Prieto; 4. Public pension governance and performance Olivia Mitchell and Ping-Lung Hsin; Part II. Fiscal Deficits and Private Saving in Pension Reform: 5. Pension reform and growth Gian Carlo Corsetti and Klaus Schmidt-Hebbel; 6. Pension reforms in the presence of credit constraints Rodrigo Cifuentes and Salvador Valdés-Prieto; 7. Financing a pension reform towards private funded pensions Salvador Valdés-Prieto; Part III. Macroeconomic Policy and Private Pensions: 8. Pension funds, capital controls, and macroeconomic stability Helmut Reisen and John Williamson; 9. Are there (good) macroeconomic reasons for limiting external investments by pension funds? The Chilean experience Juan Andrés Fontaine; Part IV. Regulation of Privately-Managed Pension Systems: 10. Pension choice and pensions policy in the United Kingdom David Blake; 11. Mandatory retirement saving: Australia and Malaysia compared Hazel Bateman and John Piggott; 12. Conclusion: public pension plans in international perspective: problems, reforms and research issues Estelle James.

'The ambitious goal of this edited collection is to synthesize many of the lessons learned from previous reforms as well as to summarize the expertise on those issues that is most critical to pension reform: political design of pension policy, fiscal deficits and private savings in pension reform, and the macroeconomic effects of pensions. An introductory chapter provides a nice overview of the key issues, and as a whole the quality of contributions is quite high. Thus, this book is an excellent resource of policy-makers and specialists … a good way of becoming acquainted with the area.' Economica