October 2023
20Oct

Indonesia. Minister instructs to form joint secretariat for serving elderly

Coordinating Minister for Human Development and Culture Muhadjir Effendy instructed the related deputy to form a joint secretariat to support services for the elderly. "I ask the related deputy to make a joint secretariat in this office to provide all elderly services," he stated in a seminar held at the ministry's office in commemorating International Day for Older Persons here on Friday. Muhadjir underscored the need for a representative joint secretariat to support the government's preparations for facing the aging population. He...

October 20, 2023
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September 2023
28Sep

Experts urge social protection for gig workers amidst growing digital economy

The rise of gig work makes it important that workers be given social protection since they may not have access to pensions, health insurance or unemployment benefits. Till the world comes up with a perfect definition for gig work, experts at the Asia-Pacific Social Protection Week organised by the Asian Development Bank (ADB), between September 26-28 in Manila, Philippines, were of the opinion that it would do well to take care of gig workers. Not only it is the smart...

September 28, 2023
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08Sep

Policy Forum: Pensions, Retirement Incentives, and the Role of Inflation

By Tammy Schirle This article describes the role of wage and price inflation for the retirement plans and well-being of registered pension plan members. The federal Public Service Pension Plan is used as an example to illustrate how wage and price inflation can be accounted for in pension design. Alternative scenarios illustrate the importance of pension plan provisions for the standard of living afforded retirees as well as incentives to delay retirement and continue working at older ages. Source @SSRN

September 8, 2023
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August 2023
18Aug

The Transitional Impact of State Pension Reform

By Jordan Pandolfo & Kurt Winkelmann We use an overlapping generations framework to evaluate the transitional impact of state pension reform on public and private workers, and apply this analysis to all fifty U.S. states. We consider (i) closing the pension plan to new entrants, (ii) reducing benefits together with wage increases and (iii) suspending cost-of-living-adjustments (COLAs). While each reform effectively reduces long run taxes, variation in fiscal and demographic features creates significant differences in state outcomes. Closing the plan...

August 18, 2023
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July 2023
23Jul

The pensions regulator’s annual report and accounts 2022-2023

By The Pensions Regulator The Pensions Regulator (TPR) is the UK regulator of workplace pension schemes. We make sure that employers put their staff into a pension scheme and pay money into it. We also make sure that workplace pension schemes are run properly so that people can save safely for their later years. Read book “here”

July 23, 2023
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21Jul

Reforming against the demographic clock

By Allianz Research  Allianz launched the second edition of its Global Pension Report, which analyzes 75 pension systems around the globe using its proprietary Allianz Pension Index (API). The index consists of three pillars: Analysis of basic demographic and fiscal conditions as well as determination of the sustainability (e.g. funding and contribution periods) and adequacy (e.g. degree of diffusion and pension level) of the pension system. A total of 40 parameters are considered, with values ranging from 1 (very good)...

July 21, 2023
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19Jul

Hungary wants to curb pension rights of transgender women

From a hefty fine on a bookshop for selling a novel on which a hit Netflix series is based, to curbing the pension rights of transgender women, Hungary is toughening measures against the LGBTQ community, long a target of Prime Minister Viktor Orban. Meanwhile, a new government amendment is seeking to exclude transgender women from pension rules that allow women to retire earlier than men. "It is inconceivable that those who suddenly identify as women after 39 years of working as...

July 19, 2023
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07Jul

Pensions for all. Proposals for more inclusive pension systems in Latin America.

Edited by David Tuesta y Gautam Bhardwaj One of the pending tasks in Latin America is the development of a pension system that is widely accessible, sufficient and financially sustainable over time. Beyond the different degrees of progress in each of the countries, they all face similar internal and global challenges. In particular, the problems of high informality of institutions and labor markets make the road even more uphill. The recent Covid19 pandemic scenario has highlighted the structural weaknesses of pension...

July 7, 2023
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07Jul

Illusory Policy Implications of Behavioral Law & Economics

By Terrance O’Reilly Behavioral law and economics has achieved notable policy influence promoting soft paternalism—using nudges to encourage better choices without limiting options. Recently, some behavioral scholars have suggested that positive behavioral models actually support hard paternalism—imposing mandates. This article challenges the insinuation that behavioral law and economics supports mandates. Despite regular suggestions to the contrary, positive economic models do not entail distinct normative consequences. The article illustrates its thesis in the case of retirement savings, a key concern of behavioral...

July 7, 2023
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June 2023
22Jun

UK. Pension policy risks being ‘stuck in a previous era’

  Pension policy risks being 'stuck in a previous era' rather than reflecting the realities of scheme funding levels today, according to LCP partner Steve Webb. Giving evidence to the Work and Pensions Select Committee, Webb pointed out that back in 2014. the combined deficit of DB pension schemes stood at nearly £400bn. This is in stark contrast to the latest figures which show a surplus of over £400bn. "For many of our clients, the issues we are now discussing are about managing...

June 22, 2023
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