OECD’s Pensions at a Glance 2017

The 2017 edition of the OECD’s biennial report Pensions at a Glance has been published.  This sets out the pension reforms undertaken by OECD countries over the last two years; the only reform noted for Ireland is the termination of the pensions levy. The report also updates information on the key features of pension provision in OECD countries and provides comparisons across OECD countries of key pension indicators such as old-age dependency ratios, income replacement rates, life expectancy and labour market exit ages.  The report notes that the basic State pension in Ireland equates to 34.1% of average earnings.

There is a chapter on flexible retirement options in OECD countries which discusses people’s preferences regarding flexible retirement, the use of these options and their impact on benefit levels.  The report notes that in Ireland the State Pension cannot be accessed before 66 and cannot be deferred beyond 66, even where the individual is still working.