Browsing: Pension

Shell’s latest financial statements reveal an anticipated $6.4 billion non-cash accounting loss arising from the transformation of its Dutch pension arrangements. The disclosure raises important questions about pension governance, regulatory oversight and the financial consequences of the transition — but it does not establish that pensioners will suffer corresponding losses.

Countries with larger pension systems have deeper capital markets, see chart below. The US sits at nearly 475% of GDP in pension and household investment assets, and above 200% of GDP in market capitalization. Germany, France, Italy and Spain are all well below on both measures.