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| Indicator name |
Change in projected theoretical replacement ratio for base case 2006-2046 accompanied with information on type of pension scheme (DB, DC or NDC) and change in projected public pension expenditure 2006-2046 )
These results should systematically be presented collectively in one table.
+ assumptions and relevant background information on representativeness
+ present also calculations of changes in replacement rates for one or two other cases, if suitable (for instance OECD) |
| Code |
PN-P4 |
| Type (EU indicator/ NAT - national indicator) |
NAT |
| Detailed definition |
Change in the theoretical level of income from pensions at the moment of take-up related to the income from work in the last year before retirement for a hypothetical worker (base case), percentage points, 2006-2046, with information on the type of pension scheme (DB, DC or NDC) and changes in the public pension expenditure as a share of GDP, 2006-2046.
This information can only collectively form the indicator called Projected theoretical replacement ratio.
Results relate to current and projected, gross (public and private) and total net replacement rates, and should be accompanied by information on representativeness and assumptions (contribution rates and coverage rate, public and private).
Specific assumptions agreed in the ISG. For further details, see Updates of current and prospective theoretical pension replacement rates 2006-2046. |
| Breakdowns |
None |
| Comments/ Policy relevance |
Information on the development of future adequacy has to be complemented by information on future sustainability (projections of pension expenditures).
Theoretical replacement rates provide key elements on the current replacement levels and their likely evolution, in response to enacted reforms, especially for DC schemes. They provide comprehensive similar information for DB schemes when if used with appropriate information regarding the sustainability of such schemes.
Other NAT indicators: other cases including differences in careers and in retirement age. |
| Source |
ISG and EPC-AWG |
| SPC portfolio section |
Pensions - adequate pensions |
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