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Pensions at a Glance 2021

OECD and G20 Indicators

image of Pensions at a Glance 2021

The 2021 edition of Pensions at a Glance highlights the pension reforms undertaken by OECD countries over the past two years. Moreover, the special chapter focuses on automatic adjustment mechanisms in pensions systems in OECD countries, discusses the usefulness and limitations of these policy instruments, and suggests ways to improve them in order to enhance the capacity of pension systems to fulfil their objectives. This edition also updates information on the key features of pension provision in OECD and G20 countries and provides projections of retirement income for today’s workers. It offers indicators covering the design of pension systems, pension entitlements, the demographic and economic context in which pension systems operate, incomes and poverty of older people, the finances of retirement‑income systems and private pensions.

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Effective age of labour market exit

The average effective age of labour market exit remained below 64 in 2020 in more than half of OECD countries for men and in more than three‑quarters of them for women. Average exit ages are at 61 years or below for men in Belgium, France, Greece, Luxembourg, the Slovak Republic, Spain and Turkey and at 60.5 years or below for women in Belgium, Colombia, Greece, Hungary, Luxembourg, Poland, the Slovak Republic, Slovenia, Spain and Turkey. By contrast, men in Japan and New Zealand withdrew from the labour market after age 68 on average, with women withdrawing after age 65 in Estonia, Japan and New Zealand. In all but six OECD countries, men exit the labour market after women, with the largest difference observed in Colombia (6.4 years). By contrast women in both Estonia and Luxembourg retire around one year later than men.

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