Pensions at a Glance 2023
OECD and G20 Indicators
The 2023 edition of Pensions at a Glance highlights the pension reforms undertaken by OECD countries over the last two years. It includes a special chapter focusing on pension provisions for hazardous or arduous work. It describes existing rules, characterises recent policy trends and assesses the design and functioning of early-retirement rules for hazardous or arduous jobs given changing working conditions and ageing pressure on pension systems.
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.
Also available in: French
Impact of unemployment breaks on pension entitlements
Most OECD countries provide some degree of unemployment credit for at least an initial period. On average five years of unemployment will result in a pension of 94% of that of a full-career worker for the average‑wage case. When starting the career 5 years later and then having a period of 10 years of unemployment during the career, this falls to 79%, with both scenarios leading to a higher required retirement age in a few countries. For low earners, the impact of these two career-break cases on pensions is slightly lower, with a relative pension of 95% and 83%, respectively, compared with the full-career baseline. Compared with a full-career worker in a country with a normal retirement age of 66 for example, these 5‑ and 15‑year missing years represent about 11.5% and 34% of the career length, respectively. Without any protection, these shares would provide an order of magnitude of the expected negative impacts of these breaks on pensions.
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