In most countries, participation in apublic pension system involving some kind of redistributionis compulsory, while participation in private pensionschemes is voluntary.There are growing fears in manycountries that the value of public pensions will not besustained.There are similar fears about company pensions.The credibility of company pensions depends on the integrityand solvency of large employers, which can no longer betaken for granted.These problems point to a need to refinecompulsory saving.Drawing on the experiences of countriesin Asia, Latin America, and elsewhere, this Note providessome guidance on answering the following questions: 1) Whomto compel?2) Defined contribution or benefit?3) Howlarge should compulsory contributions be?4) Who shouldmanage the funds?5) What types of regulation areappropriate?6) What state guarantees for what system?7)How to offer tax incentives?