By Nanying Lin, Oscar Gilbert & Tianxiang Chu Textbook finance theories indicate that investors demand risk premia from risky assets as compensation for risk and for hedging against future unfavorable economic states. We design a comprehensive study to examine whether investment advice generated by artificial intelligence (AI) reflects a coherent risk–return pattern in investment decision-making. […]

By Fabian Kindermann, Carla Krolage, Sebastian Kunz, Manuel Pannier & Karoline Ströhlein This paper provides causal evidence on how pension income affects labor supply after retirement. We exploit the introduction of the German Earned Income Pension Credit (Grundrente), which permanently increased pension income for retirees with long contribution histories and comparatively low lifetime earnings. The […]

By David Mhlanga This paper delves into the critical intersection of ageing and the rapidly evolving field of artificial intelligence (AI). This exploration is anchored in the recognition of the unique potential that AI holds for enhancing the lives of seniors, while also acknowledging the complex ethical and practical challenges that accompany its adoption in […]

The UK government is consulting on draft regulations that would reform the conditions governing pension transfers, introducing a new “reputable scheme” route for low-risk cases and revising the scam-protection flags that trustees are required to assess. The draft changes to The Occupational and Personal Pension Schemes (Conditions for Transfers) Regulations 2021 apply to transfers to […]

The CUSMA review is underway this week and the range of possible outcomes stretches wide enough to make any institutional investor uneasy. While world leaders of the US, Mexico and Canada had until July 1 to come to an agreement, it’s almost certain that negotiations will be extending far into the future. Kathy Tausz, vice […]

Empower, a subsidiary of Great-West Lifeco, has agreed to acquire Milliman Inc’s retirement plan and benefits administration business for US$340m. The deal brings a defined benefit administration platform in-house and opens a new line in health and welfare administration. The business administers defined contribution, defined benefit and health and welfare plans for corporate, public sector, […]

German Chancellor Friedrich Merz’s ruling coalition has unveiled a sweeping package of tax, labour and pension reforms aimed at reviving Europe’s largest economy and countering a surge by the far right. The “Programme for Revival and Employment” announced on Thursday includes about 10 billion euros ($11.4bn) in annual income tax relief targeted at lower and […]