The Country profiles use a common framework. First, there is a brief summary of the national retirement-income system and a table of key indicators. This background table comprises average worker earnings, public pension expenditures, life expectancy and the dependency ratio (the number of pensioners for every 100 workers). Data both for the country in question and the average for the OECD as a whole are presented.

The pension system has two main components: a basic component and an additional social insurance component. For those aged 70 and above there is also an additional age-related social insurance component, as well as a social assistance component.

Australia’s retirement income system has three components: a means-tested Age Pension funded through general taxation revenue; the superannuation guarantee, a compulsory employer contribution to private superannuation savings; and voluntary superannuation contributions and other private savings. Superannuation savings are encouraged through taxation concessions.

The pension system consists of a defined-benefit public scheme with an income-tested top-up for low-income pensioners.

The pension system has two components: an earnings-related public scheme with a minimum pension and a means-tested safety net.

The Regime Geral de Previdência Social (RGPS) covers the private sector workforce. It is financed through payroll taxes, shared by the employer and the employee, revenues from sales taxes and federal transfers that cover shortfalls of the system. It is a mandatory, pay-as-you-go financed single-pillar scheme, which is operated by the National Social Security Institute.

The pension system offers a flat‑rate benefit, which can be topped up with an income-tested benefit, earnings-related public schemes and voluntary private pensions.

The pension system has three components: a redistributive first tier, a second tier of mandatory individual accounts and a voluntary third tier. The individual accounts system was introduced in 1981 and is defined contribution.

China has a two-tier pension system, consisting of a basic pension and a mandatory employee contribution to a second-tier plan. This system, which was introduced in 1998, was significantly revised in 2006. It covers urban workers and many of the parameters depend on province-wide (rather than national) average earnings.

The Czech pension system consists of a public pension scheme and a mandatory funded private scheme with voluntary entry.

There is a public basic scheme. A means-tested supplementary pension benefit is paid to the financially most disadvantaged pensioners. There is also a mandatory occupation pension scheme based on lump-sum contributions (ATP). In addition, compulsory occupational pension schemes negotiated as part of collective agreements or similar cover about 90% of the employed workforce.

The system combines an earnings-related public scheme with mandatory contributions to funded pensions. There is also a flat rate, basic element and a safety net, national pension.

There is a targeted basic state pension (national pension and guarantee pension) which is pension income-tested, and a range of statutory earnings-related schemes, with very similar rules for different groups. Some of the schemes for private-sector employees are partially pre-funded while the public-sector schemes are pay-as-you-go financed (with buffer funds to even out future increases in pension contributions). Pre-funding has no direct impact on the benefit level. In 2014 an agreement was reached on a substantial pension reform for 2017.

In the private sector, the pension system has two public mandatory tiers: a defined benefit pension and occupational schemes based on a points system. The defined-benefit scheme also has a means-tested minimum contributory pension (minimum contributif). In addition there is a targeted minimum income for the elderly (APSA).

The statutory public pension system has a single tier and is an earnings related PAYG system. Calculation of pensions is based on pension points. If individual old-age provision from all income sources is not sufficient, additional means-tested benefits can be claimed from social assistance.

Pensions are provided through an earnings-related public scheme and a basic pension.

The Hungarian pension system is a mandatory, uniform, defined benefit pay‑as‑you-go system with an earnings-related public pension combined with a minimum pension.

There is a basic state pension (national pension), which is income-tested. There are also mandatory occupational pensions.

Workers are covered under the earnings-related employee pension scheme and defined contribution employee provident fund administered by the Employees Provident Fund Organization (EPFO) and other employer managed funds. Civil Employees of Central Government who have joined services on or after 1 January 2004 are covered under the Defined Contribution based New Pension System (NPS).

Employees in private sectors are covered by a defined contribution plan.

The public pension is a basic scheme paying a flat rate to all who meet the contribution conditions. There is also a means-tested pension to provide a safety net for the low-income elderly. Voluntary occupational pension schemes have broad coverage: over half of employees.

The state pension comprises a universal insurance pension combined with means-tested income support. Until 2008 voluntary contributions were common but as of 1 January 2008 mandatory contributions to defined contribution pension funds have been introduced.

The pension system is based on notional accounts. Contributions earn a rate of return related to real GDP growth. At retirement, the accumulated notional capital is converted into an annuity taking into account average life expectancy at retirement.

The public pension system has two tiers: a basic, flat-rate scheme and an earnings-related plan (employees’ pension scheme).

The Korean public pension scheme was introduced relatively recently. It is an earnings-related scheme with a progressive formula, since benefits are based on both individual earnings and the average earnings of the insured as a whole.

The public pension scheme has a basic and an earnings-related part. There is also a minimum pension.

Mexico’s retirement income system has three components: a means-tested age pension called 65+; two mandatory defined contribution systems one for private workers and other for public servants with a minimum pension; and other individual and occupational private plans. In addition States, local authorities and public universities have their own independent pension systems.

The pension system has three main pillars: a flat-rate state pension (AOW) related to minimum wages and financed via payroll taxes, funded occupational pension schemes, and individual saving schemes. Although there is no statutory obligation for employers to offer a pension scheme to their employees, industrial-relation agreements mean that 91% of employees are covered. These schemes are therefore best thought of as quasi-mandatory.

The public pension is flat-rate based on a residency test. Coverage of occupational pension plans continues to diminish. Coverage of the KiwiSaver voluntary workplace savings scheme continues to grow.

The new public pension system, beginning in 2011, consists of an income pension, and a guarantee pension for people with no or only a small income pension. The guarantee pension is income-tested against the income pension. In 2006, a mandatory occupational pension was introduced in the private sector as a supplement to the public pension.

The system is based on two notional accounts schemes. Since 2014 participation in the funded scheme is voluntary, as workers can opt in to allocate their contributions to the NDC sub-account to the private DC scheme.

Portugal has an earnings-related public pension scheme with a means-tested safety net.

The mandatory old-age pension consists of a notional accounts system including a basic flat-rate benefit and a funded defined contribution scheme. There are also statutory social pensions and voluntary private pensions managed by non-state (private) pension funds.

The mandatory public pension consists of an earnings-related old-age pension and an old-age settlement.

The earnings-related, public scheme is similar to a points system, with benefits that depend on individual earnings relative to the average. Low-income workers are protected by a minimum amount of earnings on which the pension benefit is calculated. All pensioners are eligible for social assistance benefits. Voluntary defined contribution plans were introduced in 2005.

The system combines an earnings-related public pension with minimum and targeted schemes.

The public pension is flat rate based on a residency test. There is also a large number of occupational schemes, though coverage is not high at lower-income levels.

The Spanish public pension system consists of a single, earnings-related benefit in the contribution level, with a means-tested minimum pension. There is also a non-contribution means-tested level, which replaces the previous special social assistance scheme.

The national retirement pension consists of a pay-as-you-go notional accounts system and a mandatory funded defined contribution pension and a defined benefit pension-income-tested top-up. Occupational pension plans with defined benefit and defined contribution elements have broad coverage.

The Swiss retirement pension system has three parts. The public scheme is earnings-related and has a progressive formula in addition there is an income-tested supplementary benefit. A mandatory occupational person regime was introduced in 1985. The occupational pension can be supplemented on a voluntary basis.

An earnings-related public scheme with an income-tested safety net and a flat-rate supplementary pension.

The public scheme has two tiers, (a flat-rate basic pension and an earnings-related additional pension), which are complemented by a large voluntary private pension sector. The public scheme is currently being reformed into a flat-rate basic pension. An income-related non-taxable benefit (pension credit) targets extra spending on the poorest pensioners.

The publicly provided pension benefit, known as social security, has a progressive benefit formula. There is also a means-tested top-up payment available for low-income pensioners.