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OECD Pensions Outlook 2014

image of OECD Pensions Outlook 2014

This 2014 edition of the OECD Pensions Outlook examines the ever-changing pensions landscape. It looks at pension reform, the role of private pensions and retirement savings. Population ageing and longevity risk is examined as are the means of increasing coverage and providing automatic enrolment. The volume is rounded out by a chapter on default retirement strategies.

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Increasing private pension coverage and automatic enrolment schemes: Evidence from six OECD countries

This chapter describes automatic enrolment schemes in six OECD countries and assesses their success in raising private pension coverage. The chapter first identifies elements of the design of automatic enrolment schemes that may influence coverage outcomes: target population, opting-out window and re-enrolment process, contribution rates, financial and non-financial incentives and other plan characteristics. The chapter then discusses the importance of communication and education campaigns that accompany the launch and implementation of automatic enrolment; it stresses the importance of considering the interaction of automatic enrolment with other existing incentives; and it evaluates the costs of automatic enrolment for employers and the state.

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