OECD Economics Department Working Papers

ISSN: 
1815-1973 (online)
http://dx.doi.org/10.1787/18151973
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Working papers from the Economics Department of the OECD that cover the full range of the Department’s work including the economic situation, policy analysis and projections; fiscal policy, public expenditure and taxation; and structural issues including ageing, growth and productivity, migration, environment, human capital, housing, trade and investment, labour markets, regulatory reform, competition, health, and other issues.

The views expressed in these papers are those of the author(s) and do not necessarily reflect those of the OECD or of the governments of its member countries.

 

Overcoming Vulnerabilities of Pension Systems You or your institution have access to this content

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Author(s):
Falilou Fall1, Debra Bloch1
Author Affiliations
  • 1: OECD, France

03 July 2014
Bibliographic information
No.:
1133
Pages:
49
http://dx.doi.org/10.1787/5jz1591prxth-en

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Demographic developments are unfavourable for the financing of pension schemes in most OECD countries, implying continued growth in pension expenditure in virtually all OECD countries. This paper examines the vulnerability of pension systems, with an emphasis on financial sustainability and adequacy. Policy trade-offs and complementarities are reviewed and flanking policies which could underpin successful pension reforms are examined. Automatic adjustment mechanisms are highlighted, as are the roles of prudential regulation and buffer or reserve funds in the case of shocks. Pension system vulnerability indicators are presented for all OECD countries, and the challenges and vulnerabilities of pensions systems in the BRIICS countries are reviewed.
Keywords:
defined-benefit schemes, pension sustainability, defined-contribution schemes, ageing, pensions
JEL Classification:
  • H55: Public Economics / National Government Expenditures and Related Policies / Social Security and Public Pensions
  • H75: Public Economics / State and Local Government ; Intergovernmental Relations / State and Local Government: Health ; Education ; Welfare ; Public Pensions
  • J32: Labor and Demographic Economics / Wages, Compensation, and Labor Costs / Nonwage Labor Costs and Benefits ; Retirement Plans ; Private Pensions
 
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