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OECD Pensions at a Glance 2005

Public Policies across OECD Countries

image of OECD Pensions at a Glance 2005

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

"The massive OECD report, Pensions at a Glance, deserves much more than a glance.  It is compendium of facts and analyses that should inform policy-making and public debate around the world for years to come.  By providing in clear and easy-to-understand form a wealth of information about pension systems throughout the OECD, it will make it much harder for even the most insular to ignore the valuable lessons to be learned from the pension experience of other nations."

--Henry J. Aaron

The Brookings Institution

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Pension-system Typology

There have been numerous typologies of retirement-income systems. The terminology used in these categorisations has become very confusing. Perhaps the most commonlyused typology is the World Bank’s “three-pillar” classification (World Bank, 1994), between “a publicly managed system with mandatory participation and the limited goal of reducing poverty among the old  [first pillar]; a privately managed mandatory savings system [second pillar]; and voluntary savings [third pillar]”. But this is a prescriptive rather than a descriptive typology. Subsequent analysts have allocated all public pension programmes to the first pillar. This has included earnings-related public schemes, which certainly do not meet the original definition of the first pillar. The most recent addition is the concept of a “zero pillar”, comprising non-contributory schemes aimed at alleviating poverty among older people. But this is rather closer to the original description of a first pillar...

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