Abstract
Government policies can play an important role in the development of private pensions. These policies can be divided into three groups: (1) policies that are essential to providing a favorable economic environment for pensions; (2) policies that encourage the development of private pensions, given that a favorable economic environment for them exists; and (3) policies that deal with weaknesses of private pension systems. While the policies discussed are generally applicable for middle-income countries, the economic and legal environments for pensions differ across countries. This article focuses in particular on the situation in Brazil.