OECD Pensions at a Glance 2005
Public Policies across OECD Countries
The first comprehensive book of its kind, this comparison of key features of pension systems of OECD countries provides coverage of retirement ages, benefit accrual rates, ceilings, and indexation. Future pension entitlements are shown for full-career workers at different earnings levels. Indicators measure redistribution in pension systems, the cost of countries' pension promises, and potential resource transfer. Thirty country chapters explain pension systems and replacement rates in detail.
"Pensions at a Glance is a significant undertaking and a major contribution to the body of comparative international pensions literature. The publication will serve as an important resource to those in the pensions policy community."
--Ladan Manteghi, AARP Global Aging Program
“This book is a valuable reference for policymakers, academics, and business people concerned about retirement systems in the developed world.”
--Olivia S. Mitchell, Executive Director, Pension Research Council,
The Wharton School, University of Pennsylvania
--Henry J. Aaron
The Brookings Institution
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Annex I.2. Sensitivity Analyses
Six OECD member countries have defined-contribution (DC) pensions. Pension entitlements in DC schemes depend crucially on the rate of return earned by the contributions when they are invested. The baseline assumption of the modelling is that the real return earned by DC pensions is 3.5% per year. This is a relatively conservative assumption by historical, empirical standards. Between 1984 and 1996, real rates of return of pension funds in eight OECD countries averaged 8% per year (OECD, 1998, Table V.3)...
Also available in: French
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