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Pensions at a Glance 2015

OECD and G20 indicators

image of Pensions at a Glance 2015

The 10-year anniversary edition of Pensions at a Glance highlights the pension reforms undertaken by OECD and G20 countries over the last two years. Two special chapters provide deeper analysis of first-tier pension schemes and of the impact of short or interrupted careers, due to late entry into employment, childcare or unemployment, on pension entitlements. Another chapter analyses the sensitivity of long-term pension replacement rates on various parameters. A range of indicators for comparing pension policies and their outcomes between OECD and G20 countries is also provided.

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Gross pension replacement rates: Mandatory and voluntary schemes

Private pensions play a large and growing role in providing incomes for old age. The OECD average for gross replacement rates of an average earner from public schemes alone is 41%, compared with 53% with mandatory private pensions included. When voluntary private pensions are taken into account the OECD average increases to 58%. For the seven OECD countries where voluntary private pensions are widespread the average replacement rate is 60% for an average earner compared with 37% when only mandatory schemes are considered.

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