The OECD Pensions Outlook analyses pension policy issues in OECD member countries and partner economies, addressing all pension arrangements, private and public, in which assets back retirement income. It covers their design, regulation and supervision, as well as their role in complementing other components of the pension system. The objective is to offer policy guidance to improve retirement outcomes.
This seventh edition focuses on improving inclusiveness, financial incentives, the role of equity investments, the retirement phase, and communication to help individuals plan their retirement. It discusses how pension arrangements pooling multiple employers can help to improve access to asset-backed pensions, making them more inclusive. It examines how the design of financial incentives for retirement savings in OECD countries aligns with the OECD recommendations aimed at maximising their impact on enrolment and contributions. It assesses the importance of investing in equities to reach better retirement outcomes. The edition also looks at how the design of the payout phase can better meet financial needs in retirement, including through the use of home equity release products. Finally, it discusses the development of individual pension dashboards to improve communication and assist people in better planning for retirement.
This report was prepared by the Insurance and Pensions Unit within the Capital Markets and Financial Institutions Division of the OECD Directorate for Financial and Enterprise Affairs. It benefited from the review and contributions of national government delegates, particularly delegates to the OECD Insurance and Private Pensions Committee and to the Working Party on Private Pensions, as well as members of the International Organisation of Pension Supervisors (IOPS). The views expressed do not necessarily correspond to those of the national authorities concerned.
The editorial team was led by Pablo Antolin who provided detailed comments on all the chapters. Chapter 1 was prepared by Pablo Antolin, Chapters 2, 3 and 4 by Stéphanie Payet, and Chapters 5, 6 and 7 by Jessica Mosher. Editorial and communication support was provided by Eva Abbott, Liv Gudmundson and Tom Dannequin of the Directorate for Financial and Enterprise Affairs. Serdar Çelik and Romain Despalins provided useful comments and suggestions.
The OECD gratefully acknowledges the comments and financial support from Barnett Waddingham and MBWL International, Chile’s insurance and pension regulatory authorities, the European Federation of Asset Managers, and Standard Life, part of Phoenix Group.