OECD Working Papers on Finance, Insurance and Private Pensions
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- OECD Working Papers on Insurance and Private Pensions
- ISSN : 20797117 (en ligne)
- https://doi.org/10.1787/20797117
Funding in Public Sector Pension Plans
International Evidence
In order to arrive at a fair comparison between countries regarding the fiscal burden of their DB public sector pension plans, this paper gathers more evidence on public sector pension plans regarding the type of pension promise and quantifies the future tax burden related to these pension promises. The reported liabilities are recalculated using both a fair value approach (local market discount rates) and a common, fixed discount rate across all countries which reflects projected growth in national income. We also estimate for a number of plans from a sample of OECD countries the size of the net unfunded liabilities in fair value terms as of the end of 2008. This fiscal burden can also be interpreted as the implicit pension debt in fair value terms.
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