Palmer.

• Position: Swedish pension funds - Brief Article

Palmer describes the main features of the Swedish pension reform of 1994, which may be seen as a paradigm shift in thinking about the provision of public pensions. Sweden now has a two-pillar public pension system: a pay-as-you-go pension as the first pillar and a funded, privately managed second pillar. Both components of the pension scheme are based on individual lifetime accounts.

The United Kingdom is one of the few European countries not facing a serious pension crisis. This is because of the small size of its public...