Foreword

The OECD Pensions Outlook provides an analysis of different pension policy issues in OECD member countries covering both public and private, defined benefit and defined contribution, pay-as-you-go and asset-backed retirement provisions. This sixth edition discusses how to introduce, develop, and strengthen asset-backed pension arrangements, the role that employers can play in their provision, and the implication of different fee structures on individuals saving for retirement and on providers. It also describes good practices for developing mortality tables and provides policy guidance on how to design, implement and continue the operation of non-guaranteed lifetime retirement income arrangements.

This report is the work of the pension unit in the Consumer Finance, Insurance, and Pensions Division of the OECD Directorate for Financial and Enterprise Affairs. National government delegates reviewed the different chapters, which benefited from their contributions, particularly delegates to the Insurance and Private Pensions Committee, and the Working Party on Private Pensions, as well as members of the International Organisation of Pensions Supervisors. The views expressed here do not necessarily correspond to those of the national authorities concerned.

The editorial team for this report was led by Pablo Antolin under the oversight of Flore-Anne Messy. Chapter 1 was prepared by Diana Hourani with inputs from Stéphanie Payet and Pablo Antolin; Chapters 2 and 3 by Stéphanie Payet; and Chapters 4 and 5 by Jessica Mosher. Editorial and communication support was provided by Eva Abbott, Pamela Duffin, and Liv Gudmundson. Romain Despalins of the Directorate for Financial and Enterprise Affairs provided useful advice and feedback.

The OECD gratefully acknowledges the financial support from the Chilean Insurance and Pension regulators, Barnett-Waddingham, and Standard Life, part of Phoenix Group.