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This eighth edition of Pensions at a Glance provides a range of indicators for comparing pension policies and their outcomes between OECD countries. The indicators are also, where possible, provided for the other major economies that are members of the G20. Three special chapters provide a deeper analysis of recent pension reforms (Chapter 1) and pension systems within OECD countries for individuals in non-standard forms of work (Chapters 2 and 3).
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The world of work is changing. Mega trends, such as digitalisation, globalisation, and demographic and climate change are transforming our economies and societies. Many new opportunities for growth and development are emerging, but also some clear challenges with increasing numbers of people with unstable working conditions, often in temporary or part-time jobs, and with low and intermittent earnings. New technologies make it easier and cheaper to offer and find work on-line, and platforms have seen an exponential growth in recent years, even if they still account for a small share of employment across the OECD. Overall, non-standard employment, including self-employment, accounts for more than one in three jobs in OECD countries. Non-standard workers are a very diverse group, but on average, they earn less on an hourly and especially yearly basis. For example, a median full-time self‑employed person earns 16% less than a full-time employee, on average across the OECD.
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This edition of Pensions at a Glance reviews and analyses the pension measures legislated in OECD countries between September 2017 and September 2019. As in past editions, a comprehensive selection of pension policy indicators is included for all OECD and G20 countries. Moreover, this edition provides an in‑depth review of different approaches to organising pensions for non-standard workers.
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This chapter looks at pension reforms in OECD countries over the past two years (between September 2017 and September 2019). Pension reforms have lost momentum with both improving economic conditions and increasing political pressure in some countries not to implement previously decided measures. Over the last two years, most pension reforms focused on loosening age requirements to receive a pension, increasing pension benefits including first-tier pensions, expanding pension coverage or encouraging private savings. Some recent major policy actions have also consisted of partially reversing previous reforms.
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This chapter looks into pension arrangements for non-standard workers across OECD countries. Non-standard workers are defined as workers not covered by full-time open-ended contracts, i.e. part‑time, temporary or self‑employed workers, in particular those undertaking new forms of work. The analysis starts with describing the relevant characteristics of non‑standard workers, then it depicts related pension issues and details the specific pension rules applying to them. These lead to discussing policy options on how to make pension systems more inclusive given transforming labour markets. The chapter fits into a broader OECD work stream focused on the Future of Work and the Future of Social Protection.
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This chapter looks at the design features of funded pension arrangements to see how they may affect participation, contributions and pension outcomes of different categories of workers. The purpose is to determine whether their design is well adapted to the situation of workers in non-standard forms of work to help them save for retirement.
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