Sweden should establish an independent committee of experts to oversee its National Pension Funds and set a clear, measurable financial objective for investments to ensure their long-term viability, according to a new OECD report.
This paper studies the impact of recent changes in second pension pillars of three Central and Eastern European Countries on the deficit and implicit debt of their full pension systems.
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.
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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.
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.
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.
This book contains three reports focusing on different institutional approaches to the financial management of large-scale catastrophes in selected OECD and non-OECD countries, the role of risk mitigation and insurance in reducing the impact of natural disasters, and the importance of strategic leadership in the management of non-conventional crises.