Individuals face an increasing variety of financial risks, including those linked to their retirement. At the same time, public funding has been reduced or is strictly limited in most countries. Private insurance and pensions products therefore play an essential role in social and financial protection. Yet the public might have a low level of awareness of the risks they are exposed to, and lack literacy, knowledge and skills in insurance and private pensions questions and products.
This volume addresses these topical and unexplored issues as part of the ongoing OECD project on financial education. After a comprehensive analysis of the main challenges and presentation of practical solutions, the book highlights good practices, endorsed by OECD governments, to enhance awareness and education on risk, insurance and private pensions issues.
Table of contents:
PART I. FINANCIAL EDUCATION IN THE INSURANCE SECTOR: Risk Awareness and Education on Insurance Issues: Comparative and Analytical Report -Overview -Introduction: Definition and Scope of the Report -Chapter 1. Increasing Need for Awareness and Education on Risks and Insurance Issues -Chapter 2. Evaluation of Individual's Risks and Insurance Awareness, Education, and Capacity -Chapter 3. Main Stakeholders' Roles and Governments' Involvement -Chapter 4. Programmes and Tools to Enhance Risk Awareness and Education on Insurance Issues -Conclusion -Annex 1.1. Some National Programmes Aimed at Strengthening Financial Education -Annex 1.2. Mediation and Redress Mechanisms in Selected OECD Countries -Annex 1.3. Selected Regulations on Information Disclosure on Insurance Products and Providers -Annex 1.4. Regulation and Self-Regulation of Intermediaries' Roles and Responsibilities in Selected OECD Countries -Appendix: OECD Recommendation on Good Practices for Enhanced Risk Awareness and Education on Insurance Issues PART II. FINANCIAL EDUCATION IN THE PRIVATE PENSIONS SECTOR: Financial Education and Saving for Retirement: Analytical and Comparative Report -Overview -Chapter 1. Financial Education and Saving for Retirement - Why Financial Education is Needed for Retirement Saving -Chapter 2. Current Financial Education Programmes, Related Approaches and Evaluations -Chapter 3. Conclusions and Lessons Learnt -References -Appendix. OECD Recommendation on Good Practices for Financial Education Relating to Private Pensions