Articles Archives - Page 123 of 140 - Pension Policy International

24AprApril 24, 2017

Disarming Puerto Rico’s Pension Time Bomb

By Richard J. Cooper, Luke A. Barefoot, Daniel J Soltman & Antonio Pietrantoni (Cleary Gottlieb Steen & Hamilton LLP) With the long-delayed commencement of negotiations between the new government of the Commonwealth of Puerto Rico (the “Commonwealth”) and its financial creditors finally underway, and the expiration of the existing stay on creditor actions looming, much of the financial press’ attention over the next several weeks will undoubtedly be focused on whether the government of Puerto Rico can reach an out...

April 24, 2017

Articles, Regulation, System Sustainability

24AprApril 24, 2017

Disarming Puerto Rico's Pension Time Bomb

By Richard J. Cooper, Luke A. Barefoot, Daniel J Soltman & Antonio Pietrantoni (Cleary Gottlieb Steen & Hamilton LLP) With the long-delayed commencement of negotiations between the new government of the Commonwealth of Puerto Rico (the “Commonwealth”) and its financial creditors finally underway, and the expiration of the existing stay on creditor actions looming, much of the financial press’ attention over the next several weeks will undoubtedly be focused on whether the government of Puerto Rico can reach an out...

April 24, 2017

Articles, Regulation, System Sustainability

24AprApril 24, 2017

Ethnic and Racial Disparities in Saving Behavior

By Mariela Dal Borgo (Bank of Mexico) Using pre-retirement data from the Health and Retirement Study, I find that median saving rates are 9p.p. larger for Whites than for Mexican Americans and Blacks. Two-thirds of each gap reflect changes in asset prices and a third reflects households’ active saving decisions. Since Blacks save more in pensions, only the racial gap disappears with the inclusion of retirement assets. Both saving gaps are mostly explained by differences in income and, especially for...

April 24, 2017

Articles, Labor Market, Savings

24AprApril 24, 2017

Retirement Security: The Importance of Conflict-Safe Advice

By Andrew L. Oringer (Dechert LLP) This article is adapted from testimony given by Andrew L. Oringer on March 24, 2009 before the House Subcommittee on Health, Education, Labor and Pensions. The testimony was given during the Subcommittee's hearings on the regulations of the US Department of Labor regarding exemptions for certain investment advice. (more…)

April 24, 2017

Articles, Pension design, Regulation, System SustainabilityPublic Policy, Regulation, supervision

14AprApril 14, 2017

Poverty and Social Transfers in Hungary

By Christiaan N. Grootaert This study addresses the question of how well Hungary's system of cash social transfers helps prevent or alleviate poverty -whether different types of social transfer, or changes in eligibility rules, might better alleviate poverty. The social safety net in Hungary and other transition economies has undergone important changes. The conventional benchmark for measuring poverty in Hungary -the subsistence minimum- has lost much of its relevance because of the transition to a market economy. The author proposes...

April 14, 2017

Articles, Labor Market, RegulationLabor Market, Social Protection

14AprApril 14, 2017

How Can China Provide Income Security for its Rapidly Aging Population?

By Barry James, Estelle Kane & Che Friedman The authors discuss key choices policy makers face about China's pension system in the face of a rapidly aging population. They describe the problems the current pay-as-you-go system faces in the near and long term and simulate policy options for solving those problems. They find that simple design changes are necessary but not sufficient conditions for making the pension system sustainable. Partial funding is necessary to avoid large increases in future contribution...

April 14, 2017

Aging, Articles, Pension design, RegulationLabor Market, Mandatory Pensions Región: Asia, Political economy, Public Policy

14AprApril 14, 2017

Pension Reform: Is There a Tradeoff between Efficiency and Equity?

By Estelle James In the past decade, Latin America has taken the lead in structural pension reform which replaces a publicly managed pay-as-you-go defined-benefit system with a system of privately managed, fully funded defined-contribution accounts supplemented by a social safety net This arrangement is designed to improve efficiency and growth, and preliminary evidence suggest that it has been successful in doing so. But traditional social security systems have been justified on the grounds that they are equitable and redistribute to...

April 14, 2017

Articles, Pension design, Regulation, System SustainabilityPolitical economy, Social Protection, Sustainability

10AprApril 10, 2017

We are Not All the Same: Key Law, Policy and Practice Strategies for Improving the Lives of Older Women in the Lower Mainland

By Canadian Centre for Elder Law (British Columbia Law Institute) In 2011 the Canadian Centre for Elder law (CCEL) started the Older Women’s Dialogue Project (OWDP) to identify and take action on barriers to the well-being of older women. While gender has a significant impact on life experience, research and policy analysis often renders older women invisible: feminist inquiry tends to focus on girls and women of child-bearing age and gender-neutral aging policy concentrates on the experiences of men. The...

April 10, 2017

Aging, Articles, Labor MarketRegulation

10AprApril 10, 2017

Closing Routes to Retirement: How Do People Respond?

By Johannes Geyer & Clara Welteke (German Institute for Economic Research) We present quasi-experimental evidence on the employment effects of an unprecedented large increase in the early retirement age (ERA). Raising the ERA has the potential to extend contribution periods and to reduce the number of pension beneficiaries at the same time, if employment exits are successfully delayed. However, workers may not be able to work longer or may choose other social support programs as exit routes from employment. We...

April 10, 2017

Aging, Articles, Labor Market, RegulationLabor Market, Occupational Pensions, Sustainability

10AprApril 10, 2017

Time for Retirement ‘Selfies’?

By Robert C. Merton (Massachusetts Institute of Technology) & Arun Muralidhar (George Washington University) To address the looming retirement crisis, many governments are introducing new pension programmes tied to employment for uncovered workers (NEST in the UK and Secure Choice in some US states). These attempt to improve access to pensions, and continue a trend of transferring responsibility for retirement security from governments and employers (via defined benefit [DB] plans) to the individual (via defined contribution [DC] plans), as neither...

April 10, 2017

Articles, Labor Market, Pension design, RegulationAging, Behavior, Investment, Occupational Pensions

April 2017