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OECD Pensions Outlook 2016

image of OECD Pensions Outlook 2016

The OECD Pensions Outlook 2016 assesses policy issues regarding strengthening pension systems and, in particular, funded pension plans.  It covers defined benefits and defined contribution pension plans; fiscal incentives to save for retirement; policy measures to improve the financial advice for retirement; annuity products and their guarantees; pension design and financial education; and the pension arrangements for public-sector workers, including a comparison with those for private sector workers.

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Civil service pensions: Toward a unified system with the private sector

This chapter examines the pension systems for civil servants in OECD countries, concentrating on those countries that have different rules, or even systems, for civil servants and private sector workers. The chapter starts with a discussion of the history and recent reforms of civil service pension systems including interactions with the private sector. The key parameter values of the civil servant schemes are compared with those for private sector workers, followed by analysis of the future pension promises for workers starting their career today. A discussion of the implications for the ongoing financial commitment for the state for current and future retirees in the public sector follows. The final section summarises key findings and draws policy implications, highlighting the benefits of an integrated framework for all workers.

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