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This paper discusses the impact of the crisis on defined benefit (DB) pension schemes and the temporary responses taken by regulators to help ease financially strained plan sponsors. It presents suggestions to governments and policy makers for making funding regulations more counter-cyclical in nature. Such measures could strengthen the security of DB benefits and help to maintain DB plans for future workers.
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Government-guaranteed bank bonds have been an effective tool in avoiding the worst during the financial crisis. However, the pricing of the guarantees has created competitive distortions and the continued availability of such guarantees into 2010 may have reduced the pressure on some banks to address their weaknesses.
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While pension funds have strengthened with the financial market rebound, OECD data show that pension fund assets in most countries have yet to recover to pre-crisis levels. Public pension reserve funds, however, have now fully made up for their crisis-related losses due to more conservative investment strategies.
While pension funds have strengthened with the financial market rebound, OECD data show that pension fund assets in most countries have yet to recover to pre-crisis levels. Public pension reserve funds, however, have now fully made for their crisis-related losses due to more conservative investment strategies.
English, , 488kb
This paper assesses the relative performance of different investment strategies for different structures of the payout phase.
Discussions at this high-level event focused on financial literacy, behavioural economics and financial education and the importance of financial education in defined contribution pension schemes.
Working Paper: "Assessing Default Investment Strategies in Defined Contribution Pension Plans". Future retirees can expect dramatic fluctuations in fortunes between members of a cohort unless they adopt investment strategies that reduce the impact of market shocks. Similar strategies should also become the default for individuals who make no active investment choice.
English, Excel, 1,806kb
This document contains the proceedings from a Conference on Terrorism Risk Insurance held in Paris on 1-2 June 2010.
Specialists in terrorism insurance and disaster management re-assessed the state of terrorism insurance markets, discussed promoting awareness of terrorism risks and reviewed the status of terrorism risk insurance programmes in different countries.
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In previous studies, the OECD has identified the main hallmarks of the crisis as too-big-to-fail institutions that took on too much risk, insolvency resulting from contagion and counterparty risk, the lack of regulatory and supervisory integration, and the lack of efficient resolution regimes. This article looks at how the Basel III proposals address these issues, helping to reduce the chance of another crisis like the current one.