N°
18
14 May 2012
Lessons from National Pensions Communication Campaigns Adele Atkinson, Debbie Harrison, Flore-Anne Messy, Juan Yermo
The present report focuses on the pre-campaign planning, the design, the delivery, and the monitoring and evaluation of National Pension Communication Campaigns in a range of OECD and non-OECD countries. The research identifies barriers to effective communications and highlights models of good...
N°
17
04 May 2012
Review of the Swedish National Pension Funds Clara Severinson, Fiona Stewart
This paper provides a review of the Swedish National Pension Funds based on international good practice and OECD guidelines. The paper focuses mainly on the general size and structure of the funds, the investment framework and the governance of the funds. The internal management of the funds...
N°
16
20 Apr 2012
Current Status of National Strategies for Financial Education Andrea Grifoni, Flore-Anne Messy
In both developing and developed economies, the awareness of the importance of financial education led to the development of an increasing number of tailored national strategies for financial education. These frameworks promote a smoother and more sustainable co-operation between interested...
N°
15
26 Mar 2012
Measuring Financial Literacy Adele Atkinson, Flore-Anne Messy
This paper presents the findings from an OECD International Network on Financial Education pilot study undertaken in 14 countries. The analysis focuses on variations in financial knowledge, behaviour and attitude across countries and within countries by socio-demographics.The results highlight...
N°
14
01 Mar 2012
Empowering Women Through Financial Awareness and Education Angela Hung, Joanne Yoong, Elizabeth Brown
The potential implications of gender differences in financial literacy are far-reaching. This paper describes the findings of a review of the literature on gender differences in financial literacy with the aim to better understand their causes and consequences, as well as possible policy...
N°
13
01 Sep 2011
Pension Funds Investment in Infrastructure Raffaele Della Croce
Pension funds are increasingly looking at infrastructure investment with some investors actively pursuing opportunities in the sector. Different countries are at different stages in the evolution of pension fund investment in infrastructure.
A survey of a sample of the most significant actors...
N°
12
01 Nov 2011
Designing Optimal Risk Mitigation and Risk Transfer Mechanisms to Improve the Management of Earthquake Risk in Chile Robert Muir-Wood
The property losses from the Feb 27th 2010 Maule earthquake are assessed as $18.1Bn paid for 38% by insurers, 47% by the Government of Chile and 15% by individuals and businesses. Including $4Bn damage to infrastructure and the costs of lost economic activity the total loss in 2010 values is...
N°
11
01 Sep 2011
The Role of Guarantees in Defined Contribution Pensions Pablo Antolín, Stéphanie Payet, Edward R. Whitehouse, Juan Yermo
This paper examines the role of guarantees in DC pension plans, in particular minimum investment return guarantees during the accumulation phase. The main goal is to assess the cost and benefits of different return guarantees. The report uses a stochastic financial market model where guarantee...
N°
10
01 Sep 2011
The Role of Pension Funds in Financing Green Growth Initiatives Raffaele Della Croce, Christopher Kaminker, Fiona Stewart
It is estimated that transitioning to a low-carbon, and climate resilient economy, and more broadly „greening growth? over the next 20 years to 2030 will require significant investment and consequently private sources of capital on a much larger scale than previously. With their USD 28 trillion...
N°
9
01 May 2011
Catastrophe Financing for Governments Erwann Michel-Kerjan, Ivan Zelenko, Victor Cardenas, Daniel Turgel
With rapidly increasing population and growing catastrophe exposure in their countries, many more government leaders (including Presidents, Prime Ministers and Rulers) are now faced with a strategic question: how best develop a national strategy to hedge against the massive economic burden of...
N°
8
01 May 2011
Funding in Public Sector Pension Plans Eduard Ponds, Clara Severinson, Juan Yermo
Most countries have separate pension plan for public sector employees. The future fiscal burden of these plans can be substantial as the government usually is the largest employer, pension promises in the public sector tend to be relatively generous, and future payments have to be paid out...
N°
7
01 Feb 2011
Reform on Pension Fund Governance and Management Woochan Kim, Fiona Stewart
This paper provides a detailed chronological account of the governance-cum-management reform of National Pension Fund in Korea and analyzes its success factors, drawing lessons for other countries. A review of the current governance structures with the fund versus OECD guidelines and...
N°
6
01 Dec 2010
Options to Improve the Governance and Investment of Japan's Government Pension Investment Fund Fiona Stewart, Juan Yermo
This paper suggests avenues for strengthening the governance and management of the Japanese Government Pension Investment Fund (GPIF), the largest single pool of pension assets in the world. The GPIF earned its name in 2006 as part of a major governance reform that aimed at increasing the...
N°
5
01 Sep 2010
The New IAS 19 Exposure Draft Clara Severinson
At the end of April 2010, the International Accounting Standards Board (IASB) published an exposure draft with proposed changes to International Accounting Standard No. 19 (IAS 19). IAS 19 is the current standard for the financial reporting of company pension obligations that stem from defined...
N°
4
01 Aug 2010
The EU Stress Test and Sovereign Debt Exposures Adrian Blundell-Wignall, Patrick Slovik
This working paper’s quantifications show that most sovereign debt is held on the banking books of banks, whereas the EU stress test considered only their small trading book exposures. It discusses why sovereign debt held in the banking book cannot be ignored by investors and creditors, because...
N°
3
01 July 2010
The Impact of the Financial Crisis on Defined Benefit Plans and the Need for Counter-Cyclical Funding Regulations Juan Yermo, Clara Severinson
Three essential goals of pension plan funding are the long-term viability, stability and security of member benefits. Reform of funding regulations for defined benefit (DB) pension schemes to make them more counter-cyclical in nature can help achieve these goals as well as make DB schemes more...
N°
2
01 June 2010
Assessing Default Investment Strategies in Defined Contribution Pension Plans Pablo Antolín, Stéphanie Payet, Juan Yermo
This paper assesses the relative performance of different investment strategies for different structures of the payout phase. In particular, it looks at whether the specific glide-path of life-cycle investment strategies and the introduction of dynamic features in the design of default...
N°
1
01 Dec 2009
Framework for the Development of Financial Literacy Baseline Surveys Elaine Kempson
There is growing concern, across a wide range of countries, about the levels of financial capability of consumers. A large number of initiatives are therefore being developed to address this issue; and countries are increasingly rolling out national strategies on financial capability. To do...
