Logo newsbot.ch

International

Pensions: COVID-19 crisis adds pressure to private and public pensions systems

2020-12-07 20:08:02
newsbot by content-proivder.ch GmbH
Quelle: OECD

The OECD Pensions Outlook 2020 says that population ageing, low growth, low returns and low interest rates were already weighing heavily on funded and pay-as-you-go pension plans, defined benefit and defined contribution schemes, as well as private and public retirement provisions before the outbreak of the pandemic, writes the OECD.

The shocks from the global health and economic crisis will likely keep economic growth, interest rates and returns low long into the future, putting many people at risk of not being able to save enough for retirement.“Countries need to strike a balance between the short-term income support provided by measures like granting people access to their retirement savings before they reach retirement age, and the potential negative effect of such measures on future retirement incomes,” said OECD Secretary-General Angel Gurría. “Allowing access to retirement savings should be a measure of last resort, and based on hardship circumstances rather than being granted widely and unconditionally.”“The COVID-19 crisis has also underlined the importance of having long-term savings for emergencies,” he added.

“Introducing long-term savings arrangements that combine a savings account earmarked for retirement and a savings account for emergencies could make retirement savings more resilient.”.

Suche nach Stichworten:

says Pensions: COVID-19 crisis adds pressure pensions systems



Newsticker


Swiss Federal Council

Switzerland calls for better environmental protection in armed conflicts


Swiss Federal Council

Joining technology: With nanoeffects towards new joining processes


Swiss Federal Council

Swiss pavilion at Expo 2025 in Osaka embodies lightness and sustainability


Swiss Federal Council

Swiss Science Prize Marcel Benoist: Nomination procedure launched


Swiss Federal Council

Swiss retail trade turnover fell in December by 0.2% – 2022 as a whole registered an increase of 1.8%