The Organisation for Economic Co-operation and Development (OECD) has released its annual reports, “OECD Pensions Outlook” and “Pension Markets in Focus” for 2024. According to these reports, there is a pressing need to enhance asset-based pension plans to ensure better retirement outcomes and more resilient pension systems across its 38 member countries.

Contrary to the general downward trend observed in 2022, the 2023 report highlights growth in pension assets across nearly all regions, driven by positive developments in capital markets. The report emphasizes that despite disruptions during crises and the pandemic, the long-term growth trajectory of these assets remains intact. Over the past two decades, the total value of global pension assets surged from $20.8 trillion to $63.1 trillion.

Notably, Turkey has emerged as the fastest-growing country in this domain, with individual retirement funds experiencing an impressive nominal growth rate of 73.3% last year, distinguishing itself significantly from other member nations.

For more in-depth insights and data, further details are available in the reports.
Source and Full Details