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February 2018

26Feb

Poverty Among Older People and Pensions Policy in the EU (Public Policy and Social Welfare)

By Asghar Zaidi Based on research work financed by the European Commission under their programme of Community Action to Combat Social Exclusion, this book offers a comprehensive picture of the present state of later-life poverty across the 25 member states of the European Union. The authors analyze the poverty risks older people are currently facing in combination with a detailed study on the current European data-sets used to measure these risks. They provide a detailed description of recent pension reforms...

February 26, 2018
Books, Pension design, ,
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26Feb

Financial Economics Principles Applied to Public Pension Plans

By Edward Bartholomew (Independent), Jeremy Gold (Jeremy Gold Pensions), David G. Pitts (Independent) & Larry Pollack (Independent) Working from basic principles of economics, financial economics, and public finance, we develop implications for the financial management of public pension plans. We address the measurement of plan liabilities and cost, funding, investment of plan assets, financial reporting, benefit design and risk sharing. Our analysis seeks to maximize efficiency and preserve intergenerational equity. We conclude that full funding based on default-free discount rates...

February 26, 2018
Articles, Management, Pension design,
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26Feb

The Impact of Life-Course Developments on Pensions in the Ndc Systems in Poland, Italy and Sweden and Point System in Germany

By Agnieszka Chłoń-Domińczak (Warsaw School of Economics), Marek Góra (Warsaw School of Economics (SGH); IZA Institute of Labor Economics), Irena Kotowska (Warsaw School of Economics), Iga Magda (Warsaw School of Economics), Anna Ruzik-Sierdzińska (Warsaw School of Economics) & Pawel Strzelecki (National Bank of Poland; Warsaw School of Economics) Old-age pensions in the NDC systems reflect the accumulated lifetime labour income. Interrupted careers and differences in the employment rates, particularly between men and women will have a significant impact on...

February 26, 2018
Aging, Articles, Labor Market, Pension design, ,
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19Feb

Save More Tomorrow: Practical Behavioral Finance Solutions to Improve 401(k) Plans

By Shlomo Benartzi One of the world’s top experts in behavioral finance offers innovative strategies for improving 401(k) plans. Half of Americans do not have access to a retirement saving plan at their workplace. Of those who do about a third fail to join. And those who do join tend to save too little and often make unwise investment decisions. In short, the 401(k) world is in crisis, and workers need help. Save More Tomorrow provides that help by focusing on the...

February 19, 2018
Books, Pension design, Savings,
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19Feb

Political Viability of Intergenerational Transfers. An Empirical Application

By Gianko Michailidis (University of Barcelona) & Concepcio Patxot (University of Barcelona - Department of Economic Theory) Public intergenerational transfers (IGTs) may arise because of the failure of private arrangements to provide optimal economic resources for the young and the old. We examine the political sustainability of the system of public IGTs by asking what the outcome would be if the decision per se to reallocate economic resources between generations was put to the vote. By exploiting the particular nature...

February 19, 2018
Aging, Articles, Labor Market, Pension design, , ,
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19Feb

The Optimal Allocation of Longevity Risk with Perfect Insurance Markets

By Antoine Bommier (ETH Zürich) & Hélène Schernberg (ETH Zurich) This paper discusses the allocation of aggregate longevity risk in the case of perfect insurance markets. We show that the optimal allocation transfers some risk to the pensioners, even if pension providers have access to a perfect insurance market. Individuals prefer contributions and benefits to depend on the evolution of aggregate mortality rates rather than being fixed. Indeed, this flexibility offers an interesting diversification strategy where the prospect of a...

February 19, 2018
Aging, Articles, Labor Market, Management, Pension design, , ,
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12Feb

The Effect of Income on Subjective Well-Being in Later Life: A Case Study of a Government Pension in South Korea

By Erin Hye-Won Kim (National University of Singapore (NUS) - Lee Kuan Yew School of Public Policy) Objectives. Despite keen interest among scholars and policy makers, little is known about whether income affects subjective well-being (SWB) in later life, a notoriously difficult question to answer, given the empirical challenge of isolating the effect of income from correlated influences and the possibility of reverse causality. This paper examines the effects of the 2008 introduction of the Basic Old-Age Pension, a noncontributory...

February 12, 2018
Articles, Pension design, Regulation, Slider-Left, ,
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05Feb

A Framework for Analyzing Defined Benefit Pension Insurance: The Survivor Benefit Plan for Veterans

By William W. Jennings (U.S. Air Force Academy - Department of Management), Jeff Merrell (University of Colorado at Boulder - Leeds School of Business) Thomas O'Malley (U.S. Air Force Academy - Department of Management) & Brian Payne (US Air Force Academy) Millions of defined benefit pensioners must select a pension insurance method. We present a framework for making this decision within the context of US military veterans’ Survivor Benefit Plan (SBP). Federal government subsidies generate a positive expected net payout...

February 5, 2018
Articles, Pension design, Regulation, , ,
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January 2018

31Jan

Confidence in Retirement – How well are Kenyans prepared for retirement?

By Strathmore University The purpose of this study is to assess and evaluate the views and attitudes of working age Kenyans who are members of a registered workplace pension schemes. The study reveals the extent in which different factors influence individual’s level of optimism or pessimism about retirement as well as Kenyans actions to prepare for retirement. (more…)

January 31, 2018
Aging, Articles, Labor Market, Pension design, Slider-Left, , ,
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29Jan

A European Pensions Union: Towards a Strengthening of the European Pension Systems

By Pascal Borsjé (Clifford Chance LLP) & Hans van Meerten (Utrecht University - Utrecht Centre for Shared Regulation and Enforcement in Europe – RENFORCE) This contribution will especially address the EC’s general policy in respect of the IORP II Proposal, also in connection with general more recent EU law developments, and its consequences for the pension systems of the EU Member States, with a focus on the occupational pension system of the Netherlands. (more…)

January 29, 2018
Articles, Labor Market, Pension design, Regulation, , ,
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