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Pension reforms slow down but costs are still rising, says OECD

The international think-tank says wealthy nations have reduced their pension costs by 0.6% of GDP a year in the past two years, but more reform is necessary

Pension reforms slow down but costs are still rising, says OECD

The world’s developed economies have shaved around $290bn a year from their long-term pension bills in the past two years — but governments have begun to slow the pace of cutbacks while costs are still rising, the Organisation for Economic Co-operation and Development has warned.

In 2015, the international think-tank projected that public pension costs would rise to 10.1% of GDP on average across its 35 member states by 2050.

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