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DISCUSSION PAPER PI-9906

Financial System Requirements for Successful Pension Reform

David Blake

Pensions Institute, Birkbeck College

ABSTRACT

This paper examines the financial system prerequisites needed for the
successful delivery of funded private pensions. In particular, it examines
the financial instruments and investment strategies required. It does so
within the context of a specific developed economy with a mature pension
system, namely the United Kingdom. The lessons learned can help to inform
the debate in developing countries which are in the process of undertaking
pension reform.

ISSN 1367-580x.