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OECD Pensions Outlook 2016

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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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The changing pensions landscape: The growing importance of pension arrangements in which assets back pension benefits

The pensions landscape has changed in recent decades. All OECD countries have to varying degrees a combination of different pension arrangements to provide retirement income. This chapter first suggests a means for understanding and differentiating between the characteristics of different pension arrangements. Then, focusing on those pension arrangements in which assets back pension benefits, the chapter documents their growing importance over the last 15 years. The growth of pension arrangements in which pension benefits are linked to the amount of assets accumulated is also highlighted. Given these trends, the chapter discusses the advantages and disadvantages of defined benefit and defined contribution pension arrangements and ends with the main OECD policy messages.

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