Jinny Park, for their tireless work and contributions I would like to thank the members of the Steering to the analysis and formulation of the report and Committee and Working Group of this project, who their com-mitment to the project. [...] comparison Mechanisms should therefore be designed to Given the multiplicity of different national starting better inform public debate about the trade-offs points, and the need to consider the relationship and choices that have to be made and the costs of among multiple dimensions of LFS provision, the mix inaction, and to build consensus around workable of actions required to address the global. [...] Contributions are generally invested This report’s taxonomy draws on the World Bank’s in a plan chosen by the employee for the duration four-pillar approach,10 and we add a fifth pillar, as of the employee’s “work life,” and upon retirement depicted in Table 1.1.11 the balance of the account becomes available to the The adequacy of an individual’s pension and other individual. [...] • Demographics and dependency: The age These dynamics dictate the economic parameters profile, and level of dependency, within the sys- of LFS, that is, the capacity of the economy to sustain tem’s overall population the living standards of the population, including the • Productivity and living standards: The nonworking population. [...] This a balanced profile of people at different stages of life is a problem in terms of the long-term trend and the (see Window 2.2), so that the productive output of the rate of change, which can result in short-term demo- working population is at all times sufficient to sustain graphic imbalances, and thus economic imbalances the consumption needs of the entire population.18 and disturbances (see.
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