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Pensions at a Glance 2019

OECD and G20 Indicators

image of Pensions at a Glance 2019

The 2019 edition of Pensions at a Glance highlights the pension reforms undertaken by OECD countries over the last two years. Moreover, two special chapters focus on non-standard work and pensions in OECD countries, take stock of different approaches to organising pensions for non-standard workers in the OECD, discuss why non-standard work raises pension issues and suggest how pension settings could be improved.

This edition also updates information on the key features of pension provision in OECD 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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Mandatory earnings-related pensions

Generic earnings-related schemes are of four different types governed by different rules of benefit calculation. DB schemes specify a nominal accrual rate, expressed as a percentage of individual pensionable earnings,at which benefit entitlements build up for each year of coverage. The higher the contribution rate the higher the accrual rate that can be sustained by contributions. In points schemes, the pension benefit is equal to the number of points accumulated during the career multiplied by the point value. FDC (NDC) schemes apply an annuity divisor to turn (notional) accumulated capital in the individual account at retirement age into a monthly pension benefit. presents future parameters and rules for benefit calculation that will apply to people who enter the labour market in 2018, according to the latest legislation.

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