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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Voluntary, Occupational Pensions: Denmark
Defined-contribution schemes are agreed between the social partners. Coverage is almost universal. Contributions to these schemes are typically between 9% and 17% of earnings. Benefits are usually withdrawn as an annuity, although some schemes allow for lump-sum payments. Annuity calculations are based on an assumed interest rate, which is 1.5% for recent contributions and schemes (although was previously 4.5%). However, the schemes operate on a “with-profit” or “participating” basis. This means that pension increases depend on the investment performance of the fund and the mortality experience of its beneficiaries. Since 2000, all negotiated schemes must use unisex life tables for calculating pension values...
Also available in: French
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