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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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Role and Types of Private Pension Systems

In 2007, nearly USD 28 trillion in assets were accumulated in private pension systems in the OECD area, of which more than 60% was held by the US private pension system (USD 17 trillion). The OECD-weighted average ratio of private pension assets to the area’s GDP reached 111.0% in 2007. Between 2006 and 2007, institutional investors’ total assets increased by 11.3%. However, pension funds’ assets rose only by 7.5%, while those of insurance companies and investment funds both grew 12.9%. The financial assets held by investors are heavily pension-oriented. As much as 60% of the total volume of assets held by institutional investors worldwide has as its main purpose the financing of retirement benefits. Chapter 1 describes the main types of private pension systems and focuses on the growing role of funding, private pensions, and institutional investors in retirement income arrangements. Data shown in this chaper include all kinds of private pension arrangements (i.e. including pension funds, book reserves, pension insurance contracts and bank/investment company managed funds). 

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