Welfare Reform on the Web (January 2002): Pensions - Overseas

IRELAND'S NEW PRSAs OFFER SCOPE BOTH TO FIRMS AND INDIVIDUALS

K. Flynn

Pensions International, no. 34, 2001. P. 14-15

Ireland's Pensions Bill of 2001 introduces a new retirement savings product, the Personal Retirement Savings Account (PRSA). A PRSA is an investment account for retirement owned by an individual which can follow him/her through his/her working life.

OPPORTUNITIES OFFERED BY TIME OF CHANGE IN RUSSIA

I. Batty

Pensions International, no. 34, 2001, p. 16-17

Describes Russia's developing pensions structure and assesses the pitfalls and prospects for private providers offering pensions services there. Russia has a system of privately managed funds known as "non-state pension funds". The Ministry of Economy is also currently working on a "second pillar" of the pension system which will constitute part of the state pension fund, but with independent managers appointed by competitive tender.