OECD Pensions at a Glance 2005
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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

"The massive OECD report, Pensions at a Glance, deserves much more than a glance.  It is compendium of facts and analyses that should inform policy-making and public debate around the world for years to come.  By providing in clear and easy-to-understand form a wealth of information about pension systems throughout the OECD, it will make it much harder for even the most insular to ignore the valuable lessons to be learned from the pension experience of other nations."

--Henry J. Aaron
The Brookings Institution

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    http://oecd.metastore.ingenta.com/content/8105021e.pdf
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Publication Date :
02 May 2005
DOI :
10.1787/pension_glance-2005-en
 
Chapter
 

Pension Wealth You or your institution have access to this content

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    http://oecd.metastore.ingenta.com/content/8105021ec008.pdf
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Author(s):
OECD
Pages :
59–63
DOI :
10.1787/pension_glance-2005-8-en

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The replacement rates and relative pension levels discussed above give a first indication of the magnitude of the pension promise, but they are not comprehensive measures. For a full picture, it is necessary to take account of life expectancy, retirement ages and the indexation of pension benefits. These determine for how long the pension benefit must be paid and how its value evolves over time. To compare countries’ different provisions, the pension entitlement at retirement is converted into a value of pension "wealth" using standard actuarial techniques. For each country, the present value of future pension payments is calculated, using a uniform discount rate of 2% and country-specific life expectancy. Since the comparisons refer to prospective pension entitlements, the calculations use national life expectancies as projected for the year 2040...
Also available in: French