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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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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.
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This paper assesses the relative performance of different investment strategies for different structures of the payout phase.
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.
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.
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This paper inquires into the forces that drive the practice of risk management at defined benefit (DB) pension funds in Germany, Netherlands, United Kingdom and the United States in the aftermath of the perfect pension storm. First, pension funds’ risk management is grounded in the context of the development of modern risk management in the financial industry more general. Second, focusing solely on single-employer sponsored DB
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This working paper provides draft good practice guidelines for the design of national financial literacy surveys and proposes guidelines for the design of a core set of good practice questions for embedding within any national surveys aimed at measuring financial literacy levels.
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The public pension system of Japan provides coverage for all, irrespective of occupation and income. Corporate pension plans provide additional benefits over the public pension in order to meet the diversified financial needs in retirement and play a key role in enriching people’s life after retirement.The majority of corporate pensions in Japan are defined-benefit type. Consequently, a great amount of attention is paid to benefit
Building on the OECD's internationally recognised standards in the area of financial education, participants in this event shared best practices and experiences in the fields of financial education and literacy. As a result, they were better equipped to address their national and regional challenges in these policy areas.The workshop was co-hosted by the Reserve Bank of India and the OECD and was sponsored by the Government of Japan.