Articles Archives - Page 22 of 140 - Pension Policy International

08SepSeptember 8, 2023

The Labor Market Effects of Facilitating Social Security Contributions Under Part-Time Employment Contracts: Evidence from Colombia

By Brenda Samaniego de la Parra, Andrea Otero-Cortés & Leonardo Morales We examine the impact of reducing rigidities caused by regulation on labor demand in a context with high informality. Using employer–employee matched administrative records and household survey data, we estimate the effects of a reform that eliminated a wedge in firms' regulatory costs of employing workers on different work schedules in Colombia, reducing the relative costs of formal parttime employment. We find that the reform increased the probability of entering...

September 8, 2023

Articles, Labor Market, Savings2023, Pension Reform, Social Security, Taxation

08SepSeptember 8, 2023

Racial and Ethnic Differences in Longevity Perceptions and Implications for Financial Decision-Making

By Abigail Hurwitz, Olivia S. Mitchell & Orly Sade Inaccurate perceptions regarding life expectancy can lead to suboptimal financial decisions with long-term consequences, including undersaving prior to retirement, and overspending during retirement. As prior research suggests that Covid-19 mortality has disproportionately harmed those with low incomes, African Americans, and Hispanics in the United States, we seek to determine whether subjective survival perceptions among these groups changed in a manner consistent with observed outcomes. We fielded two online experimental surveys of...

September 8, 2023

Articles, Savings2023, Behavioral Science, Equality, Longevity, Retirement Planning

01SepSeptember 1, 2023

Contingency Fund: Individual Retiree Risk Management

By Jason Branning & Ray Grubbs The goal of this article is to provide an actionable framework for contingency planning for individual retirees through the modern retirement theory (MRT) perspective. Contingency planning encompasses a retiree’s risk management processes, techniques, and strategies, along with a choice architecture. Our goal is to provide insights that are mitigating to those conditions within longevity that can impair or impact a retiree’s ability to remain retired. We offer three risk categories—known, unknown, and unknowable—as an...

September 1, 2023

Articles, Savings2023, Pension design, Retirement Planning

01SepSeptember 1, 2023

Family Planning Confronts Delayed Retirement in China: The Retirement Intention of Only-Child Parents

By Xiao Yu, Yingdong Xu, Yue Sun & Luyao Jiao By establishing a labor-retirement model within China’s unique intergenerational support culture and one-child policy, this study provides evidence of the one-child policy’s early effect on individuals’ retirement decisions. This finding highlights a contradiction between the retirement intentions of the 1960s and 1970s generations, who are most affected by the one-child policy, and the delayed retirement policy of Chinese government. Utilizing data from the CHARLS 2011-2018 and employing OLS, IV, and...

September 1, 2023

Aging, Articles2023, China, Labor Market, Regulation, Retirement Planning

01SepSeptember 1, 2023

Exploring the Impact of Information Environment on ESG Disclosure Behavior: Evidence from National Pensions and Foreign Investors

By Jong Won Choi, Suk Hyun & Ju Hyoung Park This study examines the impact of institutional investors on the environmental, social, and governance (ESG) disclosures of Korean companies listed on Bloomberg from 2011 to 2020. We find that while institutional investors encourage general ESG disclosure, they do not influence materiality-based ESG disclosure. Interestingly, materiality-based ESG disclosures decrease when institutional investors are major shareholders, suggesting a potential decline in disclosure quality. The study also finds a positive relationship between materiality-based...

September 1, 2023

Articles, Pension Management2023, Corporate Governance, ESG, Regulation

25AugAugust 25, 2023

Longevity Risk and Capital Markets: The 2021-22 Update

By David P. Blake, Malene Kallestrup Lamb & Jesper Rangvid This Special Issue of the Journal of Demographic Economics contains 10 contributions to the academic literature all dealing with longevity risk and capital markets. Draft versions of the papers were presented at Longevity 16: The Sixteenth International Longevity Risk and Capital Markets Solutions Conference that was held in Helsingør near Copenhagen on 13-14 August 2021. It was hosted by PerCent at Copenhagen Business School and the Pensions Institute at City,...

August 25, 2023

Articles, Pension Management2023, Longevity, Risk

25AugAugust 25, 2023

Investment Option Switching Behaviour and Impact for Pension Fund Members Around the COVID Pandemic

By Adam Butt, Gaurav Khemba, William Lim, Geoff Warren & Shang Wu We study the switching of investment options by defined contribution pension fund members, using a unique dataset provided by a large Australian superannuation fund and spanning the market volatility associated with the COVID-19 pandemic. We find that both the magnitude and direction of switching activity is primarily related to market conditions, but is moderated by member characteristics. Switching activity appears reactive to market movements, with a spike in...

August 25, 2023

Articles, Investment2023, COVID 19, Pension Management

25AugAugust 25, 2023

Unbundling Climate Change Risk from ESG

By Jeffrey N. Gordon The divergence between the United States and the European Union over ESG disclosure and compliance policy for asset managers and companies is a striking feature of the corporate governance landscape. This divergence derives at least in part from differences in core features of the relevant political economy. In particular, retirement security in the US is significantly tied to stock market values; this is not so in Europe. The US is a petro-state, the world’s largest producer...

August 25, 2023

Articles, Investment, Pension Management2023, Climate crisis, Corporate Governance, ESG

18AugAugust 18, 2023

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

Articles, Pension Reform2023, Pension Reform, Public Policy, US

18AugAugust 18, 2023

Labor Mobility and the Problems of Modern Policing

By Jonathan S. Masur, Aurelie Ouss & John Rappaport We document and discuss the implications of a striking feature of modern American policing: the stasis of police labor forces. Using an original employment dataset assembled through public records requests, we show that, after the first few years on a job, officers rarely change employers, and intermediate officer ranks are filled almost exclusively through promotion rather than lateral hiring. Policing is like a sports league, if you removed trades and free...

August 18, 2023

Articles, Pension design2023, Labor Market

September 2023

Racial and Ethnic Differences in Longevity Perceptions and Implications for Financial Decision-Making

Contingency Fund: Individual Retiree Risk Management

Family Planning Confronts Delayed Retirement in China: The Retirement Intention of Only-Child Parents

Exploring the Impact of Information Environment on ESG Disclosure Behavior: Evidence from National Pensions and Foreign Investors

August 2023

Longevity Risk and Capital Markets: The 2021-22 Update

Investment Option Switching Behaviour and Impact for Pension Fund Members Around the COVID Pandemic

Unbundling Climate Change Risk from ESG

The Transitional Impact of State Pension Reform

Labor Mobility and the Problems of Modern Policing