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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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The role of first-tier pensions

This chapter examines the role of first-tier benefits within OECD and G20 countries. It concentrates on the three main components of first-tier pensions: basic, minimum and means-tested old-age social assistance payments. The structure of the first-tier pension systems including eligibility rules are first detailed. Then the level of the benefits as a proportion of average earnings is compared across OECD countries and studied in relation to old-age poverty rates. The chapter also highlights the other forms of assistance that are available for retirees including rent or health. This chapter analyses the implications of indexation policies for first-tier benefits levels and for public spending, given population ageing, depending on how age thresholds on first-tier pensions are adjusted.

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