This comprehensive examination of pension systems in OECD and selected non-OECD countries looks at recent trends in retirement and working at older ages, evolving life expectancy, design of pension systems, pension entitlements, and private pensions before providing a series of detailed country profiles.
- 26 Nov 2013
Public expenditure on pensions
Public spending on cash old-age pensions and survivors’ benefits in the OECD increased 27% faster than the growth in national income between 1990 and 2009, from an average of 6.1% of gross domestic product (GDP) to 7.8%. Public pensions are often the largest single item of government expenditure, accounting for 17% of total government spending on average.