oecd.org (02.12.2024) The design and governance of asset-backed pensions should be enhanced to foster more inclusive and resilient systems, secure better outcomes for individuals and contribute to sustainable economic growth and innovation, according to new analysis from the OECD. Pension assets in OECD countries grew by 10% in 2023, reaching over USD 56 trillion, more than triple the level seen two decades ago. Total assets hit USD 63 trillion after adding pension reserve funds held by governments. The 2023 total is 5% below the level seen in 2021, according to Pension Markets in Focus 2024. Growth in 2023 resulted from positive returns in equity markets and positive cashflows from contributions exceeding benefit payments. The new report analyses this growth and its underlying drivers, comparing it with long-term trends.  Against the backdrop of ageing populations and other economic challenges, a second OECD report, Pensions Outlook 2024, calls for new action to address coverage gaps. The report highlights the importance of ensuring individuals have access to appropriate retirement income and of innovative approaches, such as options for pooling risks and leveraging home equity.