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Preliminary version. Please do not quote - OECD.org

Preliminary version . Please do not quote Chapter 1 Evaluating the Financial Performance of Pension Funds Heinz Rudolph, Richard Hinz, Pablo Antol n, and Juan Yermo <<A>>Background and Motivation for the Research Program Since the early 1980s, the structure of arrangements to provide retirement income has gradually moved from pay-as-you-go defined benefit (DB) systems to various types of arrangements in which the provision of pensions is backed by assets, either in individual accounts or in collective schemes.

Preliminary version. Please do not quote countries and governments’ urgency in addressing other basic problems such as the high cost of the systems, governance issues, and approach to supervision.

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