The Economist, December 6, 2007:Private pension funds are generally most prominent in mature economies and exceed 100% of GDP in Iceland, the Netherlands and Switzerland. However, they play a smaller role in several developed countries like Italy, where public pay-as-you-go financing predominates, than in some emerging economies such as Chile.
Whether in rich or poorer countries, pension funds tend to be invested mainly in bonds and shares. The figures do not include fast-growing public-pension reserve funds, designed to shore up traditional tax-financed schemes. These are becoming increasingly significant in several countries.
