Crisis highlights the need for sweeping pension reforms, says OECD

“Reforming pension systems now to make them both affordable and strong enough to provide protection against market swings citizens will save governments a lot of financial and political pain in the future.”
OECD Secretary-General Angel Gurría

The financial crisis is having the greatest negative impact on those nearing retirement in the United States, the United Kingdom and Australia, according to the OECD. This is especially true for those whose pension plans are exposed to riskier assets, the OECD says in the 2009 edition of its biennial Pensions at a Glance.

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