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These good practices provide an integrated, action-oriented framework for the identification of disaster risks, promotion of risk awareness, enhancement of prevention and loss mitigation strategies, and design of compensation arrangements.
Pensions are a major component of public expenditure, and a target for governments looking to streamline budgets. What are countries doing to manage costs at a time when populations are ageing at an accelerated pace?
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The recent major earthquakes in Chile and Haiti are the latest reminder of the urgent need for disaster preparedness. This guidance reflects international good practices on the mitigation and financial management of catastrophic risks.
The key tables on insurance and pensions comprise data on insurance premiums, national market share, and spending per capita. Tables on pensions will be added later.
In his remarks to the Central Bank of Greece, Mr. Gurría offered the OECD support, expertise, and policy experience to help Greece modernise its economy and put it on a path of sustained growth.
The handbook provides policy guidance in the field of natural hazard awareness and disaster risk reduction education to governments. It is based on a stocktaking of country initiatives to promote risk awareness and education on natural perils and related risks performed by the OECD and covering selected OECD countries as well as two major non-OECD countries, China and India.
Governments must continue reforms to ensure that public and private retirement income provision is socially as well as financially sustainable, according to a new OECD report.
What impact has the crisis had on pensions?
Who is affected?
What can be done?
Policy makers are now facing the challenge of providing a short-term response to the crisis without losing sight of the longer-term structural reforms needed to put pension and healthcare systems on a solid footing in light of population ageing. According to Mr. Gurría, we need pension funds to be more transparent and better regulated but we also need structural reforms in the public pension policies and health care systems.
Mr. Gurría underlined that business ethics should be at the center of any new road-map for the global economy. Markets should not only be more stable, but morally acceptable as well. He said that it is time to reunite ethics and economics through a solid, transparent and updated set of rules.