The current financial crisis has had a major impact on global pension assets, with the OECD estimating declines of $5.4tn (over 20%) at the end of 2008. This is putting pressure on funding levels for defined benefit (DB) pension plans, and has served a severe blow to members of defined contribution (DC) plans close to retirement, denting confidence in many DC systems. This paper discusses responses to current financial and economic
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This paper discusses responses to current financial and economic crisis by regulators, supervisors and policy makers in the area of private pensions. These responses are examined in the light of international guidelines, best practices and recommendations to improve the design of private pensions.
The paper describes Chile’s pension reform of 1980, which replaced the existing pay-as-you-go public pension programs by a new funded pension program managed by private companies (the “AFP´s”)...
This paper reviews three key aspects of pension schemes available to self-employed workers: coverage, contributions and benefits. In each part, analyses are undertaken not just by describing the rules governing these schemes ...
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The OECD has been developing a response to the crisis that is holistic, looking atfinancial market issues, and the wide variety of factors that led to damaging incentive structures, as well as the requirements for broader macro and fiscal policies. The crisis has led to a variety of emergency financial measures such as loans, guarantees, and nationalisations. For financial markets, the focus is on exit strategies that are consistent
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The principal purpose of this paper is to analyse the trade-off between the uncertainty in contributions on the one hand and benefits on the other that is embedded in different pension arrangements.
Fiona Stewart discusses the impact of the crisis on pensions funds and what needs to be done.
Quel a été l’impact de la crise sur les pensions ? Qui est touché ? Que peut-on faire ?
The IAIS-OECD issues paper on insurer corporate governance provides background on insurer corporate governance, describes practices and identifies possible regulatory and supervisory issues. Comments received were considered in the preparation of a final version of the issues paper.
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In this paper we review the legal framework of private pension fund regulation and supervision in economies, including Australia, Chile, Hong Kong China, Poland, Turkey, the United Kingdom and the United States.