Pensions at a Glance 2013 : OECD and G20 Indicators.

Description

This comprehensive examination of pension systems in OECD and selected non-OECD countries looks at recent trends in retirement and working at older ages, evolving life expectancy, design of pension systems, pension entitlements, and private pensions before providing a series of detailed country profiles. Foreword Table of contents Editorial -- Pensions under stress Executive summary Chapter 1. Recent pension reforms and their distributional impact Introduction Recent pension reforms Key goals of pension reform Overview of pension reforms Table 1.1. Overview of pension reform measures in 34 OECD countries, 2009-13 Coverage Adequacy Financial sustainability Work incentives Administrative efficiency Diversification and security Other reforms Distributional impact of pension reforms. Table 1.2. Details of pension reforms enacted or implemented between January 2009 and September 2013Impact of pension reform on replacement rates Countries with only one major reform in the last 20 years Figure 1.1. The uniform impact of pension reform on replacement rates in Austria and Japan, 2009-13 Figure 1.2. Reform offers lower earners relatively better protection Figure 1.3. Pension reform in Sweden spares highest earners' replacement rates Countries with several reforms in the last 20 years Figure 1.4. Replacement rates after interim reforms Impact on pension wealth. Figure 1.5. Austria case studyWhat if pension ages had not increased? Figure 1.6. Comparison of gross replacement rate and gross pension wealth Figure 1.7. Comparison of gross replacement rates and gross pension wealth with unchanged retirement age, 1990-2013 Conclusions and policy implications Work longer, save more Poor currently protected but everyone will get less in future More workers need to be covered in emerging economies Pension promise will decrease Early retirement access is being tightened Table 1.3. Recent and post-reform pension reforms Pension adequacy issues remain. NotesReferences Chapter 2. The role of housing, financial wealth and public services for adequate living standards in old age Introduction Adequacy What constitutes adequacy? Monetary and non-monetary dimensions of adequacy Measuring adequacy of living standards Cash and non-cash income Box 2.1. Absolute measures of poverty Pension replacement rates Figure 2.1. Theoretical net replacement rates at different earnings levels for full-career workers entering the labour market in 2012, OECD Recipiency and take-up of minimum and target benefits. Figure 2.2. Recipiency of targeted and minimum pensions among people aged 65 and over, 2012Living standards in retirement: Incomes and poverty in old age Snapshot of elderly incomes in the OECD Figure 2.3. Relative incomes of the over-65s, late 2000s Sources of elderly incomes Figure 2.4. Sources of incomes of the over-65s, late 2000s Figure 2.5. Sources of income of the over-65s by income decile, late 2000s Figure 2.6. Trends in elderly incomes from the mid-1990s to late 2000s Old-age poverty rates Figure 2.7. Changes in poverty rates by age, 2007-10.