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OECD Pensions Outlook 2012: (Complete Edition ‐ ISBN 9789264169401)

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Abstract:

This edition of the OECD Pensions Outlook examines the changing pensions landscape. It looks at pension reform during the crisis and beyond, the design of automatic adjustment mechanisms, reversals of systemic pension reforms in Central and Eastern Europe, coverage of private pension systems and guarantees indefined contribution pension systems. It closes with a policy roadmap for defined contribution pensions and a statistical annex.





Editorial ‐ Pensions: Past, Present and Future

Executive Summary

Chapter 1. Pension Reform During the Crisis and Beyond

‐1.1. Introduction

‐1.2. Objectives of the pension system

‐1.3. Overview of reforms

‐1.4. Coverage

‐1.5. Adequacy

‐1.6. Indexation

‐1.7. Pensionable ages

‐1.8. Work incentives

‐1.9. Sustainability

‐1.10. Administrative efficiency

‐1.11. Diversification and security

‐1.12. Other reform measures

‐1.13. Conclusions

‐References

‐Annex 1.A1. Details of pension‐reform measures, September 2007‐February 2012

Chapter 2. Putting Pensions on Auto‐pilot: Automatic‐adjustment Mechanisms and Financial Sustainability of Retirement‐income Systems

‐2.1. Introduction

‐2.2. Defining financial sustainability

‐2.3. Targets, instruments and mechanisms for implementation of automatic adjustment mechanisms

‐2.4. Automatic adjustment mechanisms and the use of a buffer fund

‐2.5. Implications for financial sustainability

‐2.6. Political economy of automatic adjustment mechanisms

‐2.7. Summary and conclusions¬†

Chapter 3. Reversals of Systemic Pension Reforms in Central and Eastern Europe: Implications for Pension Benefits

‐3.1. Introduction

‐3.2. Structure of reformed pension systems before reversals

‐3.3. Switching at the time of systemic reform

‐3.4. Impact of reform reversals on individual entitlements

‐3.5. Conclusions

‐References

Chapter 4. Coverage of Private Pension Systems: Evidence and Policy Options

‐4.1. Introduction

‐4.2. The need for private/funded pensions as a complement to public/pay‐as‐you‐go pensions

‐4.3. Coverage of funded/private pensions in OECD countries

‐4.4. Assessment of the coverage of private pensions in 8 OECD countries

‐4.5. Policy options to increase coverage

‐4.6. Conclusions

‐References

Chapter 5. The Role of Guarantees in Retirement Savings Plans

‐5.1. Introduction

‐5.2. Guarantees in pension systems

‐5.3. Costs and benefits of minimum return guarantees in retirement savings plans

‐5.4. Practical challenges of minimum return guarantees in DC plans

‐5.5. Conclusion and policy recommendations

‐References

‐Annex 5.A1. Formal Description of the Different Types of Guarantees Analysed

Chapter 6. A Policy Roadmap for Defined Contribution Pensions

‐6.1. Introduction

‐6.2. Three guiding principles: Coherence, adequacy and efficiency

‐6.3. Policy messages for better DC pension plans

‐6.4. Conclusion

‐References

Statistical Annex

Document Type: Review Article

Publication date: 2012-06-01

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