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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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Net pension replacement rates: Mandatory and voluntary schemes

Since gross mandatory and voluntary pension systems are playing an increasing role in providing income for old age it also is equally important to look at the net replacement rate. The OECD average for net replacement rates of an average earner from public and mandatory private schemes alone is 63%. When voluntary private pensions, are added, the average net replacement rate is 68% for an average earner. When voluntary private pensions are taken into account, for the seven OECD countries where voluntary private pensions are widespread the average net replacement rate for these seven countries is 72% compared with 60% in gross terms.

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