By Carolina Salva & Tim Alexander Kroencke We survey 28 leading Swiss pension fund consultants and asset managers to understand the factors and their ranking driving institutional asset allocation decisions. The risk tolerance of pension fund boards, target returns, and risk-free rates emerge as the most influential factors, while traditional portfolio theory predictors such as […]

By Burkhard Heer & Mark M. Trede We develop a medium-scale overlapping-generations model with endogenous labor supply and skill premium to study optimal income redistribution using progressive labor income taxes and pensions. The model is calibrated to the four countries USA, Great Britain, Italy and Germany which differ substantially in their tax and pension systems, […]

By Peter A. Diamond Public pension systems are long-term social contracts operating under persistent economic, demographic, and political uncertainty. Periods of turbulence, marked by financial shocks, changes in longevity, and shifting labour markets, test the capacity of pension institutions to adapt while maintaining adequacy, equity, and legitimacy. Building on earlier joint work on pension economics […]

The Social Security closed the first seven months of the year with a positive result of 9.162 billion euros, equivalent to 0.5% of GDP. This balance is obtained after total revenues of 154.231 billion euros, 7.8% more than a year earlier, against expenses of 145.069 billion, which increased by 7%, according to data released this […]

Ontario Teachers’ Pension Plan is aiming to invest an additional $10-billion in Canada by the end of 2027, increasing the size of its $100-billion domestic portfolio. The $303-billion pension fund announced Friday that it intends to add new investments in both publicly traded equities and private assets. Early next week, hundreds of the world’s top […]

When Molly and Taylor Haylett started their family, they hadn’t really planned for what it would mean financially. “Our first child surprised us, so we weren’t prepared for it,” says Molly, 30, a financial adviser from Essex. Molly and Taylor, who’s a train driver, were earning similar amounts, but once Molly spent more time at […]

The regulator published its new enforcement approach on its website, setting out how it will use “better data, intelligence, and market insight” to inform its actions and “identify emerging risks sooner, engage earlier, and step in before problems escalate”. In its enforcement strategy document, the regulator explained that it had developed a “more focused, agile […]