OECD Private Pensions Outlook 2008

image of OECD Private Pensions Outlook 2008
As the role of private pension systems grows in importance, there is a need to monitor their development and review their performance in an international context, especially following the crisis in the financial markets in 2008. This first edition of the OECD Private Pensions Outlook provides essential data on assets, investments, membership, and industry structure based on the latest official statistics, as well as a framework for evaluating the trends shaping the pensions industry, based on the role of the private pensions in relation to the public pension system. It also provides comprehensive country profiles, describing private pension arrangements in individual OECD countries. This edition's special feature covers the implications for pensions and private pensions policy of the financial crisis. This publication includes StatLinks, URLs linking graphs and tables via the internet to Excel® table containing the underlying data.

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Key Pension Fund Indicators

This chapter provides indicators on the trends in pension fund assets, investments, membership, and revenues and expenditure up to December 2007. The performance of private pension systems over the coming years will be strongly influenced by the evolution of the financial crisis and the depth of the economic recession. Some indicators, like pension fund net income flows will show a marked deterioration in 2008. The shift from defined benefit to defined contribution is likely to be accentuated in the years to come. Investment policies are also experiencing change, leading to lower equity allocations even after markets recover. Funds in emerging economies will grow in importance over the coming decades, so selected non-OECD countries are included too. While Chapter 1 looked at all types of private pension arrangements, this Chapter focuses exclusively on pension funds, for which detailed indicators are available. The Chapter therefore excludes data pertaining to: ? book reserve systems (as they exist in countries like Austria, Canada, Finland, France, Germany, Italy, Luxembourg, Mexico, Spain, and Sweden); ? pension insurance contracts (such arrangements exist in all OECD countries, the main exceptions being the Czech Republic, Hungary, Japan, Mexico, New Zealand, and the Slovak Republic) and; ? funds managed as part of financial institutions (often banks or investment companies), such as the Individual Retirement Accounts (IRAs) in the United States and other countries. The full description of data coverage can be found in Chapter 5 in the table entitled “Overview of private pension system by type of plan and financing vehicle”, provided for each individual OECD country. This table describes existing pension plans in the country and gives the correspondence with the OECD classification in terms of pension plan type and financing vehicle. Pension plans included in the data are also flagged in this table.

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