By Alfredo Merlet Between January and September 2026, Fund E, the most conservative of Chile’s five mandatory pension fund types, lost about ten per cent in real terms, its second-worst result on record, while the funds’ positions in foreign interest-rate derivatives swung to a reported valuation loss of about US$7.7 billion. This article asks why […]

By Yaodi Yong, Jinggong Zhang & Xiaobai Zhu In response to demographic shifts such as declining fertility rates and increasing life expectancy, many countries are raising the full retirement age (FRA). This paper develops a novel optimization framework for designing FRA increase schedules, explicitly balancing the minimization of aggregate welfare loss across affected generations with […]

By Stephanie Neal & Laurens Swinkels Standard analyses of retirement adequacy focus on financial metrics such as contribution rates and replacement ratios, while climate scenario studies typically emphasize broad macroeconomic outcomes. Neither approach, however, directly addresses what matters most to individuals: the quality of life in retirement. Retirement security under climate change is inherently multidimensional, […]

The story of Maricarmen, the 87-year-old Madrid woman evicted by police from the apartment she had lived in since 1956 (she died shortly afterward), drew rare international attention for a housing dispute. Yet the same problem afflicts thousands of older people in Latin America. In Mexico City alone, civil society groups have documented more than […]

Pension professionals believe collective defined contribution (CDC) pensions can be made simple enough to catch on, but their success will depend on addressing the risks and trade-offs, achieving scale, and getting schemes up and running quickly. Speaking during a panel session at the Pensions UK Annual Conference, Sackers partner, Jacqui Reid, said the industry must […]

Africa’s pension industry is accumulating significantly more capital, but much of that money is still circulating between retirement funds and governments rather than financing companies, infrastructure and other productive assets. Pension assets across the economies covered by the 2026 Absa Africa Financial Markets Index increased by nearly US$70 billion in the latest year, equivalent to […]

German lawmakers approve pension savings for children Germany’s parliament has approved a scheme giving children aged six to 18 a monthly state payment of €10 ($11) toward private retirement savings. The legislation still needs approval from the Bundesrat, which represents Germany’s states. Lawmakers from the governing conservatives and center-left Social Democrats (SPD) hailed the decision […]