Articles Archives - Page 39 of 137 - Pension Policy International

25MarMarch 25, 2022

Sustainable Investment & Asset Management: From Resistance to Retooling

By Virginia E. Harper Ho Globally, market demand is rising for investment products and practices that take “environmental, social, and governance” (ESG) factors into account, challenging asset managers and capital markets to adapt in new ways. This chapter outlines why sustainability issues are increasingly relevant to mainstream asset owners and asset managers. It then explores the evolving regulatory landscape for sustainable investment in the U.S., focusing on the degree to which it supports or facilitates ESG integration into investment management...

March 25, 2022

Articles, Pension Management2022, Corporate Governance, ESG, US

¿Cómo ajustan los hogares sus ingresos, ahorros y consumo después de la partida de los hijos?

25MarMarch 25, 2022

How Do Households Adjust Their Earnings, Saving, and Consumption After Children Leave?

By Andrew G. Biggs, Anqi Chen & Alicia H. Munnell Whether parents adjust their consumption after their children leave home has important implications for our understanding of retirement income adequacy. Prior studies have found that parents reduce consumption after their children become independent, allowing them to save more for retirement. Other studies, however, have found that savings for retirement does not increase. If households are both consuming less but not saving more after the children leave, where are the resources...

March 25, 2022

Articles, Pension design2021, Aging, Income, Payout

25MarMarch 25, 2022

Pensions and the green transition: policy and political issues at stake

By David Natali, Michele Raitano & Giulia Valenti Pension policy has gone through an intense period of reform over the past few decades. However, further changes are likely to take place in the near future. Major global trends, not only population ageing but also globalisation, technological innovation and climate change, are going to shape socioeconomic and labour organisation and influence macroeconomic trends and will thus have an impact on the adequacy and long-term sustainability of pension policy. This paper focuses...

March 25, 2022

Articles, Investment2022, Climate crisis, ESG, EU, Social Protection

18MarMarch 18, 2022

A Sustainable, Variable Lifetime Retirement Income Solution for the Chilean Pension System

By Olga Fuentes, Richard K. Fullmer & Manuel Enrique Garcia Huitron There is a need in pension systems to significantly improve the level and stability of pension payments as pensioners age. Solutions to address increased longevity and longevity risk should be not limited to increasing the take-up rate of annuities – explicit guarantees are costly in a low-interest rate environment, and lock-in of savings may not be in line with members' preferences. Our proposal is to develop a Sustainable, Variable...

March 18, 2022

Articles, Pension design2022, Chile, Pension Management, Risk, Withdrawals

17MarMarch 17, 2022

Partial De-Annuitization of Public Pensions V.S. Retirement Age Differentiation. Which is Best to Account for Longevity Differences?

By Vincent Vandenberghe Extensive research by demographers and economists has shown that longevity differs across socioeconomic status (SES), with low-educated or low-income people living, on average, shorter lives than their better-endowed and wealthier peers. Therefore, a pension system with a unique retirement age is a priori problematic. The usual policy recommendation to address this problem is to differentiate the retirement age by SES. This paper explores the relative merits of partial de-annuitization of public pensions as a way of addressing...

March 17, 2022

Articles, Pension design2021, Longevity, Retirement Age

17MarMarch 17, 2022

Does Informal Sector Size Impede Economy Growth in Developing Countries?

By Loudi Njoya, Ngouhouo Ibrahim & Etah Ewane This paper empirically analyses the impact of the informal sector on long-term growth in developing countries. Using a panel of 112 countries from the icrg and Medina and Schneider (2018) over the period 1991 to 2015, a U-shaped relationship between the size of the informal sector and the growth of GDP per capita was obtained. These results, contrary to those of Ceyhun Elgin and Serdar Birinci (2016), show that a certain threshold...

March 17, 2022

Articles, System Characterization2021, Income, Informal Sector, savings

10MarMarch 10, 2022

The Early Impacts of the Coronavirus Pandemic on Americans’ Economic Security

By Marco Angrisani, Jeremy Burke & Arie Kapteyn The COVID-19 pandemic has had enormous effects on the U.S. economy and may have had serious negative repercussions for many Americans’ financial stability. We use longitudinal survey data from a nationally representative internet panel, the Understanding America Study, to examine the early impacts of the pandemic and policy responses to it, on Americans’ financial stability, financial well-being, and financial behavior (as of May 2020). We find that rather than experiencing large declines, Americans’...

March 10, 2022

Articles, Retirement Security2022, COVID-19, Income, US

10MarMarch 10, 2022

Exponential Growth Bias and the Law: Why Do We Save Too Little, Borrow Too Much, and Fail to React on Time to Deadly Pandemics and Climate Change?

By Doron Teichman & Eyal Zamir Many human decisions, ranging from the taking of loans with compound interest to fighting deadly pandemics, involve phenomena that entail exponential growth. Yet a wide and robust body of empirical studies demonstrates that people systematically underestimate exponential growth. This phenomenon, dubbed the exponential growth bias (EGB), has been documented in numerous contexts, across different populations, using both experimental and observational methods. Despite its centrality to human decision making, legal scholarship has thus far failed to...

March 10, 2022

Articles, Pension design, Savings2022, Behavioral Science, COVID-19

10MarMarch 10, 2022

The Current State of U.S. Workplace Retirement Plan Coverage

By John Sabelhaus Despite widespread support for government policies aimed at improving workplace retirement plans, nearly half of wage and salary workers in the U.S. still lack coverage. The lack of employer-sponsored pensions or other workplace retirement saving plans has led to state-level government initiatives aimed at expanding coverage to workers whose employers do not offer such plans. Designing and implementing efforts to broaden workplace retirement plan coverage requires understanding what types of workers lack coverage, in terms of both...

March 10, 2022

Articles, System Characterization2022, Coverage, Occupational Pensions, Pension design, US

03MarMarch 3, 2022

War and Pensions

By John A. Turner, David M. Rajnes & Gerard Hughes Although war has had substantial effects, both positive and negative, on pension systems, the topic has received relatively little attention. War has played a role in the development of pension systems in many countries. Yet, no previous analysis has examined the full range of its effects. Source: Actuaries.org 402 views

March 3, 2022

Articles, System Characterization, System Sustainability2016, Political economy, Social Protection

March 2022