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Design and Supervision of Pension Projections in 26 Jurisdictions – IOPS – December 2019

7 February, 2020

This report analyzes the design and supervision of pension projections based on a survey of 26 jurisdictions. Pension projections in jurisdictions surveyed by the IOPS are predominantly provided by pension funds and supervisors in the form of online calculators, developed by supervised agencies, supervisory authorities, or other government agencies, or periodic communications by pension entities through pension benefit statements (PBSs). The document also provides an overview of the key variables used when making pension projections.

The paper finds that projections in the jurisdictions surveyed tend to be deterministic, individualized, and based on a specific scenario. In most jurisdictions, projections show both future accrued pension assets and pension benefits, expressed at present value. Most jurisdictions show the expected benefits of a single pillar. The methodology used in the projections and their underlying assumptions are developed by pension funds and their Boards, pension supervisors or government agencies.

Pension supervisors have the challenge of ensuring the quality of projections, finding appropriate methods for reporting results, solving standardization problems, and ensuring compliance. The report puts forward recommendations in the area of pension projections design and supervision.

To download this document, please click on this link.

 

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