Low growth, low interest rates and low returns on investment linked to the slow global economy are now compounding the problems of population ageing for both public and private pension systems, according to a new OECD report.
Recent reforms of pension systems have helped to contain the rise in future costs resulting from ageing populations and increasing life expectancy. Governments now need to do more to encourage people to work longer and save more for their retirement to ensure that benefits are adequate enough to maintain standards of living into old-age.
Pension fund assets achieved high returns in almost all OECD countries in 2012, with a real return greater than 5% in 18 countries, according to the 2013 edition of Pension Markets in Focus.
At their meetings on 19-20 September 2013, APEC Finance Ministers welcomed a survey report prepared by the OECD on disaster risk financing practices in the Asia Pacific region.
G20 Leaders today endorsed an OECD-launched initiative to encourage the flow of institutional investment towards longer-term assets, such as infrastructure and renewable energy projects, in order to strengthen the global economy.
G20 Finance Ministers have welcomed a new OECD/G20 framework designed to help governments develop financial strategies for disaster risk management.
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.
The Working Paper “The Role of Guarantees in Defined Contribution Pensions” argues that, while there is a clear need to better protect retirement income from financial market volatility, the costs and benefits of investment return guarantees should be carefully evaluated.
Pension fund asset levels in most countries continued to show strong growth throughout 2010, returning almost to pre-crisis levels, according to a new OECD report. Both economic and financial indicators showed signs of further recovery but the outlook for future economic growth in developed economies remains uncertain and sluggish.
Some countries are reconsidering their approach to the provision of sustainable and adequate pensions. OECD experts have reiterated several key recommendations that should be taken into account during this process.