Articles Archives - Page 24 of 140 - Pension Policy International

07JulJuly 7, 2023

Illusory Policy Implications of Behavioral Law & Economics

By Terrance O’Reilly Behavioral law and economics has achieved notable policy influence promoting soft paternalism—using nudges to encourage better choices without limiting options. Recently, some behavioral scholars have suggested that positive behavioral models actually support hard paternalism—imposing mandates. This article challenges the insinuation that behavioral law and economics supports mandates. Despite regular suggestions to the contrary, positive economic models do not entail distinct normative consequences. The article illustrates its thesis in the case of retirement savings, a key concern of behavioral...

July 7, 2023

Articles, Regulation2022, Behavioral Economics, Public Policy, savings

07JulJuly 7, 2023

Trapped in the platform: Migration and precarity in China’s platform-based gig economy

By Yang Zhou Recent studies on precarity among gig workers has turned away from labour process factors to explore the role of the wider social, cultural and institutional environment. Existing westerncentred studies in this aspect argue that platforms reproduce racialised and gendered hierarchies to leverage control over vulnerable populations. This study extends this literature by focusing on the migration factor in a non-western context. Using the case of Didi, drawing on ethnographic and interview data, it is argued that migrant...

July 7, 2023

Articles, Labor Market

07JulJuly 7, 2023

Health Capacity to Work and Retirement Expectations

By Italo Lopez Garcia, Nicole Maestas & Kathleen J. Mullen Understanding how health influences retirement is fundamental for the design of targeted policies that encourage working longer. While there is wide agreement on the relevance of age-related health decline for determining retirement decisions, the process remains a black box. This paper explores the match between individuals’ functional abilities and job demands in the national economy using a new methodology to measure work capacity. Specifically, we construct a measure of work...

July 7, 2023

Articles, Retirement Age2023, Aging, Health, Retirement Planning

30JunJune 30, 2023

‘InDIAs’: Innovative Retirement Security Bonds for India

By Arun Muralidhar A commonly-accepted retirement goal for a healthy pension is for it to sustain the relatively higher standard-of-living of the latter part of one’s working life throughout retirement. A recent innovation implemented by Brazil in January 2023 might provide a solution to the pension challenges faced by India, and, more importantly, satisfy the key goals identified by the Reserve Bank of India in respect of debt management and a stable debt structure as also self- reliance and financial...

June 30, 2023

Articles, Pension design2023, Investment, Pension Management

30JunJune 30, 2023

Linear Risk Sharing in Intergenerational Pension

By Michail Anthropelos, An Chen, Steven Vanduffel & Morten Wilke We introduce and analyze a novel collective defined contribution plan (CDC) which guarantees upon retirement at least a target benefit as a lump sum. The guarantee is provided by the remaining working generations under a pre-determined linear intergenerational risk sharing (IRS) rule. Through a simulation-based study, we show that the CDC scheme consistently outperforms the comparable individual DC scheme in terms of risk-adjusted performance. An extensive sensitivity analysis indicates that this...

June 30, 2023

Articles, Pension design2023, Defined Benefit, Defined Contribution

30JunJune 30, 2023

Optimal Retirement Portfolios with Fixed and Variable Longevity Annuities in Defined Contribution Plans taking Social Security into Account

By Vanya Horneff, Raimond Maurer & Olivia S. Mitchell This paper examines how two instruments—annuities with lifelong benefits purchased using defined contribution (DC) plan assets, and social security annuities—should be considered jointly to optimize household lifetime wellbeing. Understanding how these interact is of key importance in order to generate efficient retirement portfolios. Additionally, there is likely to be substantial heterogeneity in the demand for longevity annuities across the retiree population, depending on their assets inside and outside tax-qualified retirement plans,...

June 30, 2023

Articles, Savings2023, Retirement Planning, Social Security, US

23JunJune 23, 2023

Sexual orientation and labor market outcomes

By Nick Drydakis Currently, being gay or lesbian is illegal in almost 80 countries, meaning that 2.7 billion people live in countries where having a minority sexual orientation is a crime. Additionally, fewer than 20% of countries have adopted employment anti-discrimination laws to protect gay and lesbian employees. On average, Australia, Canada, the US, and the EU have the strongest protection of sexual orientation rights, including workplace anti-discrimination laws and some studies in these countries have examined labor market outcomes...

June 23, 2023

Articles, Labor Market2019, Income, LGBTQ, savings

23JunJune 23, 2023

The Wage Gap Among LGBTQ+ Workers in the United States

By HRC Foundation In an HRC Foundation analysis of nearly 7,000 full-time LGBTQ+ workers, median earnings were about $900 weekly, about 90% of the $1,001 median weekly wage a typical worker earns in the United States, as reported recently by the Bureau of Labor Statistics. Put another way, LGBTQ+ workers earn about 90 cents for every dollar that the typical worker earns. LGBTQ+ people of color, transgender women and men and non-binary individuals earn even less when compared to the...

June 23, 2023

Articles, Labor Market2022, Equality, Income, LGBTQ, savings, US

16JunJune 16, 2023

U.S public pensions are building for the long-term. How pension plans are reacting after a year of shocks

By Ortec Finance U.S. public pension plans have been through a torrid year of investment volatility, rising inflation and increasing interest rates. The Federal Reserve has raised rates nine times in succession taking the rate to 5% - the highest since 2007 – while CPI inflation climbed as high as 9.1% in June 2022. The most recent figure of 4.9% for April is good news but many analysts still expect further Federal Reserve rate rises. The series of economic shocks helps explain...

June 16, 2023

Articles, Pension Management, Reports2023, Funding, Public Pensions, US

16JunJune 16, 2023

LGBT Elders in a Post-Windsor World: The Promise and Limits of Marriage Equality

By Nancy J.Knauer This Article addresses the uncertain post-Windsor legal landscape from the perspective of LGBT elders and older adults. The demise of DOMA has enhanced access to federal benefits, but it has also increased the complexity that LGBT individuals and their families face as they begin to plan for retirement and beyond. Additionally, marriage equality — even when it is recognized nationwide — will not help LGBT elders and older adults tackle many of the obstacles they face when...

June 16, 2023

Articles, Regulation2021, Equality, Public Policy, Social Security

July 2023

Illusory Policy Implications of Behavioral Law & Economics

Trapped in the platform: Migration and precarity in China’s platform-based gig economy

Health Capacity to Work and Retirement Expectations

June 2023

‘InDIAs’: Innovative Retirement Security Bonds for India

Linear Risk Sharing in Intergenerational Pension

Sexual orientation and labor market outcomes

The Wage Gap Among LGBTQ+ Workers in the United States

U.S public pensions are building for the long-term. How pension plans are reacting after a year of shocks