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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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Saving for retirement and the role of private pension provision in retirement readiness

This chapter examines the potential role of private pensions in the retirement readiness of working-age individuals in selected OECD countries. A description of the methodology used is followed by a look at the potential importance of private pensions in total pension income at retirement. The chapter then addresses several policy questions on whether working-age individuals would have sufficient pension income at retirement to reach certain poverty thresholds; to be at least as well-off as the cohort already retired; and to maintain a certain level of their standard of living at retirement.The analysis herein also identifies population subgroups that may rely less on private pension provision at retirement and those subgoups that are at greatest risk of having a low pension income. The chapter finally looks at the potential impact of housing wealth, different economic conditions and labour market exit ages on the potential role of private pension provision in the retirement readiness of working-age individuals.

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