Want to Know More About Retirement Systems in Other Nations?
Please click below to read about the three tiers of the retirement system in the following countries, as well updates on current issues related to strengthening retirement security for private sector workers.
Australia | Brazil | Canada | Chile | Denmark | Finland | Ireland | Japan | New Zealand | Poland | Singapore | Switzerland | The Netherlands | United Kingdom
If you would like to review country specific details and information, click here.
WORLD ECONOMIC FORUM REPORTS
- Investing in (and for) Our Future This paper examines defined contribution plan reforms including how to improve the accumulation and decumulation phases of retirement.
- How We Can Save (for) Our Future This paper builds off the white paper “We’ll Live to 100 – How Can We Afford It?” by exploring options for expanding access and increasing retirement savings.
- We’ll Live to 100 – How Can We Afford It? This paper addresses the challenges facing retirement systems, including the impact of aging societies, and quantifies the size of the savings shortfall. It provides recommendations for system design and actions for policy-makers to ensure we can adjust to societies in which living to 100 is commonplace and affordable for all.
- Case Studies in Retirement System Reform is a companion report which presents 12 case studies on the approaches that governments, pension funds and companies have taken to address the challenges that their own retirement systems face. It highlights initiatives undertaken and lessons learned to guide those seeking future pension reforms.
- OECD Pensions at a Glance 2019
The OECD Pensions at Glance 2019 provides comparative indicators on the national pension systems of the 36 OECD countries, as well as for Argentina, Brazil, China, India, Indonesia, the Russian Federation, Saudi Arabia and South Africa. This edition reviews and analyzes the pension measures enacted or legislated in OECD countries between September 2019 and September 2019 and provides a comprehensive selection of pension policy indicators for all OECD and G20 countries.
- OECD Pensions Outlook 2018
The OECD Pensions at Glance 2018 provides an analysis of how pension systems are working to improve retirement outcomes. It examines how different pension arrangements can be combined to design pension systems and looks at how countries can improve the design of financial incentives. This edition also provides guidelines on improving retirement incomes and discusses the implications of mortality differences on retirement incomes across different socioeconomic groups.
The 2019 Melbourne-Mercer Global Pension Index compares retirement income systems in 37 countries to better understand the diversity of current pension policies. The Index has been expanded from 2018 to include three new systems – Philippines, Thailand and Turkey – adding a further three per cent of the world’s population. The nature of the problems faced by these nations, which range from a growth in aging populations due to rising life expectancies, government debt and uncertain economic conditions, transcend their respective historical, social, and political differences. The overall index value for each country represents the weighted average of the three sub-indices. The weightings used are:
- 40 percent for the adequacy sub-index
- 35 percent for the sustainability sub-index
- 25 percent for the integrity sub-index
The different weightings are used to reflect the primary importance of the adequacy sub-index which represents the benefits that are currently being provided together with some important benefit design features. Consequently, the reforms necessary to address these challenges are similar, addressing issues such as changing pension ages, increasing labor force participation for older workers, and adjusting levels of funding for retirement.
The Global Retirement Index (GRI) is a multi-dimensional index developed by Natixis Global Asset Management and CoreData Research to examine the factors that drive retirement security and to provide a comparison tool for best practices in retirement policy. The index incorporates 18 performance indicators, grouped into four thematic sub-indices, which have been calculated on the basis of reliable data from a range of international organizations and academic sources. It takes into account the particular characteristics of the older demographic retiree group in order to assess and compare the level of retirement security in different countries around the world.