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English, , 431kb
The over-65s rely more on public transfers for their income than almost anywhere else... Reforms of the French pension system have substantially cut future pension benefits for today’s workers: by around 20% for average earners...
English, , 322kb
No country, and no pension scheme, is immune from the effects of the crisis. Private pension funds lost 23% of their value in 2008, worth a heady US$5.4 trillion. Economic output is falling and unemployment is rising, putting pressure on the finances of public pension schemes as well.
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.
English, , 276kb
This report describes why occupational pensions play a major role in OECD countries and worldwide, complementing retirement income from state sources. Their financial importance is highlighted by the volume of assets they manage on behalf of plan members, USD 22 trillion at the end of 2008. Population ageing has also led many OECD countries to undertake a wide range of pension reforms – the overall effect of which has been to reduce
This paper explores how uncertainty over investment returns affects individuals’ retirement incomes and government budgets. The paper uses the OECD pension models to explore the implications of a range of possible outcomes for investment returns.
This paper explores how uncertainty over investment returns affects pension systems. The scale of investment risk is measured in this paper using historical data on returns on equities and bonds in major OECD economies over the past quarter century.
English, , 95kb
OECD Good Practices on Financial Education and Awareness Relating to Credit, OECD, 2009
This conference focused on corporate governance of insurance companies, the role of financial intermediaries in financial education and annuities and pension.
English, , 535kb
This paper provides a comparative analysis of defined contribution (DC) pension systems in Australia, Ireland, the United Kingdom and the United States.
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