The significant store of knowledge about publicly regulated pensions for old age has grown even more rapidly in the past decade. This book explores current research in four critical areas for pension policy: the political design of pension institutions; the iron links among fiscal deficits, private savings, and pension reform; how macroeconomic policy should be conducted after large private pension funds have emerged; and lessons on efficient organization of the pension industry, drawn from international comparisons including Australia, Chile, Malaysia, and the United Kingdom.