1887

OECD Working Papers on Finance, Insurance and Private Pensions

Selected studies on finance, insurance and private pensions policy prepared for dissemination in order to stimulate wider discussion and further analysis and obtain feedback from interested audiences. The studies provide timely analysis and background on industry developments, structural issues, and public policy in the financial sector. Topics include risk management, governance, investments, benefit protection, and financial education. Previous papers addressing these policy issues are available via http://dx.doi.org/10.1787/19936397.

English

Annual DC Pension Statements and the Communications Challenge

This paper examines and evaluates the content and design of the annual pension statement sent to members of funded defined contribution (DC) pension schemes in a selection of OECD and non-OECD countries. The aims of the research are to identify the potential shortcomings in statement planning and design processes, to consider potential barriers in communications to members, and to highlight trends and models of good practice in these critical areas. The overarching objective is to develop recommended guidelines for organisers, so that the statement can be developed as an effective (impact) and efficient (cost-benefit analysis, value for money) medium to deliver essential member information and to encourage appropriate member actions.

English

Keywords: communication, Pension statement, financial literacy, financial education, defined contribution
JEL: O19: Economic Development, Innovation, Technological Change, and Growth / Economic Development / International Linkages to Development; Role of International Organizations; D14: Microeconomics / Household Behavior and Family Economics / Household Saving; Personal Finance; O16: Economic Development, Innovation, Technological Change, and Growth / Economic Development / Economic Development: Financial Markets; Saving and Capital Investment; Corporate Finance and Governance; G23: Financial Economics / Financial Institutions and Services / Pension Funds; Non-bank Financial Institutions; Financial Instruments; Institutional Investors; I28: Health, Education, and Welfare / Education and Research Institutions / Education: Government Policy; J26: Labor and Demographic Economics / Demand and Supply of Labor / Retirement; Retirement Policies; D18: Microeconomics / Household Behavior and Family Economics / Consumer Protection; G28: Financial Economics / Financial Institutions and Services / Financial Institutions and Services: Government Policy and Regulation
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