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Foreword; Table of Contents; Editorial; Executive Summary; Chapter 1. Pension Reform During the Crisis and Beyond; 1.1. Introduction; Figure 1.1. Average annual real net investment return of pension funds in selected OECD countries; 1.2. Objectives of the pension system; 1.3. Overview of reforms; 1....

Figure 1.4. Life expectancy at age 65 by sex, 1960-2050Figure 1.5. Life expectancy at normal pension age by sex, 1960-2050; 1.8. Work incentives; 1.9. Sustainability; 1.10. Administrative efficiency; 1.11. Diversification and security; 1.12. Other reform measures; 1.13. Conclusions; Notes; Reference...

2.2. Defining financial sustainability2.2.1. Sustainable rates of return on PAYG schemes; Box 2.1. The Aaron-Samuelson framework in practice; 2.2.2. Pay-as-you-go equilibrium; Figure 2.1. Difference between public pension contribution revenue and pension expenditure, percentage of GDP, 2007 and 2060...

Figure 2.3. Life expectancy at age 60 and 65 by sex, OECD average, 1960-2050Table 2.1. Different ways of linking pension benefits automatically to life expectancy; Box 2.2. Linking pensions to life expectancy: notional defined contribution pension systems (NDC) in Italy, Sweden and Poland; Box 2.3....

Figure 2.5. Pension entitlements under different life-expectancy scenarios: Man with average earningsTable 2.3. Pension ages needed to equalise benefits in 2010 and 2050 under different mortality scenarios: Man on average earnings, selected countries; 2.3.2. Pensionable age and other eligibility cri...

2.7. Summary and conclusions