NEWS 2014

December 8: Pension outlook 2014

The OECD just released the publication “Pension Outlook 2014”, which gives an overview of pension systems and reforms conducted in OECD countries between 2012 and 2014

The results of the work (conducted by the OEE in partnership with the INSEE and the OECD) on the contribution of private pensions to retirement preparation in France are presented in Chapter 3. Results for 5 other countries are also reported: Chile, Netherlands, Norway, United Kindgom and the U.S.

The last chapter deals with the effects of the implementation of a funded supplementary pension system with mandatory participation or the implementation of incentives to buy pension savings products in order to increase the covered population.

To learn more : See the publication onlineBrowse the presentations made during the conference « What income for future retirees? »

25 novembre: Réseau Financité publication on savings

Réseau Financité just released a publication entitled «  L’épargne en jeu - L’épargne pour tous est-elle possible ? » (i.e « Savings at stake – Is savings for all possible? »). This book provides an update on savings in Belgium and Europe and deals with devices that are likely to incite particular populations to save. Many contributors are involved in this publication: Didier Davydoff and Laetitia Gabaut made an analysis of savings practices in Europe

To learn more: Réseau Financité websiteOrder the publication

November 19-21: 15th Conference of the National Accounting Association

The 15th Conference of the National Accounting Association will be held on 19, 20 and 21 November, 2014, in Paris. Talks directly related to savings include:

• "The Contribution of the Coordinated Portfolio Investment Survey of the IMF", Emmanuel Gervais, Banque de France
• "The Who’s Who Tables of French Financial Accounts", Franck Sédillot, Banque de France
• "The measurement of land on a country's balance sheet", Jennifer Ribarsky, OECD
• "Presentation of the HFCS (Household Finance and Consumption Survey): Methodology & results", Jerome Coffinet, Frédérique Savignac, Banque de France

To view the conference program and to register, visit INSEE’s website.

September: BNP Paribas’s interview of Didier Davydoff

Didier Davydoff, director of the OEE, was interviewed by BNP Paribas about households’ savings behavior.

September 29: « Private Pensions: The Real Returns »

Didier Davydoff (director of the OEE) presented the results of a report entitled « Private Pensions: The Real Returns » with Guillaume Prache (CEO of Better Finance) during a conference organized by Better Finance in Brusssels, Belgium

To learn more: Better Finance website

June 3-4: Credit and Savings Summit

Didier Davydoff, Director of the OEE, was one of the speakers at the "Credit and Savings Summit" held on June 3 and 4, 2014, in Barcelona. He presented the analysis of the OEE on the impact of the financial crisis on household savings, which varied across countries depending on trends in household income, the real estate market, the use of credit and ways to finance pensions.

For more information: See Didier Davydoff’s presentation.

April 2: Jacques de Larosière on securitisation in Les Echos

An article by Jacques de Larosière, President of the Observatoire de l’Epargne Européenne, was published on April 2, 2014, in Les Echos entitled “Banks: Relaunching EU securitisation is becoming urgent”. He shows that new prudential regulations are already restricting the ability of banks to finance the economy in certain countries, particularly SMEs. He believes it is, therefore, necessary to relaunch high quality securitization using the criteria used by central banks to accept loans to SMEs as collateral for refinancing operations.

For more information, read the article (French only)

The Impact of Family Structures on Wealth, Florence Legros, AGEFI Hebdo

Florence Legros, professor at University Paris Dauphine published in AGEFI Hebdo (edition February 6 – 12, 2014) a chronicle entitled “The Impact of Family Structures on Wealth”. This chronicle summarised the conclusions of a study conducted by Legros for the Observatoire de l'Epargne Européenne that used the European Central Bank’s “Household Finance and Consumption Survey” (HFCS).

The study allowed for comparisons of savings behavior and the holding of financial products across all Euro zone countries. Legros’ study highlights the impact of family structures on wealth. Household size was found to be a more significant factor in southern European countries as opposed to those in the north. For example, family structure was able to account for 9% to 64% of differences in wealth between Spain and France, while the weak median wealth found in German households in comparison to France’s is considered to be the result of a weaker number of homeowners and not due to differences in family structures, which are in fact very similar to those found in France.

For more information, read the article (French only)