Pension design Archives - Page 57 of 60 - Pension Policy International

08MarMarch 8, 2017

Automatic Adjustment Mechanisms in Asian Pension Systems?

By Elif C. Arbatli, Csaba Feher, Jack Ree, Ikuo Saito & Mauricio Soto (International Monetary Fund) Automatic adjustment mechanisms (AAMs)-rules ensuring that certain characteristics of a pension system respond to demographic, macroeconomic and financial developments, in a predetermined fashion and without the need for additional intervention-have been introduced in many OECD countries to tackle public pension schemes' deteriorating financial sustainability. Incorporating AAMs-in particular linking retirement age to life expectancy-can be an important part of pension reforms in Asia. If implemented...

March 8, 2017

Articles, Pension design, Regulation, System SustainabilityAdequacy, Investment, Regulation

01MarMarch 1, 2017

The Occupational and Personal Pension Schemes (General Levy) (Amendment) Regulations 2017

The general levy on occupational and personal pension schemes recovers the core funding provided by the Department for Work and Pensions (DWP) for 3 public bodies: The Pensions Regulator The Pensions Advisory Service The Pensions Ombudsman This consultation seeks views on the proposed rates of the levy for the financial year 2017/18 onwards. This consultation is primarily aimed at pension scheme trustees, managers and administrators. We also welcome comments from the wider public. (more…)

March 1, 2017

Adequacy, Articles, Pension design, RegulationLabor Market, Occupational Pensions, Regulation, Savings

23FebFebruary 23, 2017

Pensions, Retirement, and the Disutility of Labor: Bunching in Brazil

By Benjamin Thompson (University of Michigan) Abstract: Elderly workers in developing countries face certain frictions, such as credit constraints, in their retirement decisions that may not be as common among their counterparts in the developed world, and these concerns may lead workers to work more or less than their preferred number of years. In this study, I firstly use regression discontinuity methods to show that a large fraction of urban male heads of households in Brazil (roughly 45%)...

February 23, 2017

Articles, Labor Market, Pension designCoverage, Labor Market, Social Protection

23FebFebruary 23, 2017

Health, Health Insurance, and Retirement: A Survey

By Eric French & John Bailey Jones (Federal Reserve Bank of Richmond) Abstract: The degree to which retirement decisions are driven by health is a key concern for both academics and policymakers. In this paper we survey the economic literature on the health-retirement link in developed countries. We describe the mechanisms through which health affects labor supply and discuss how they interact with public pensions and public health insurance. The historical evidence suggests that health is not the...

February 23, 2017

Aging, Labor Market, Pension designAging, Regulation, Social Pensions

23FebFebruary 23, 2017

Rethinking Pension Reform (English Edition)

By Franco Modigliani & Arun Muralidhar This book, first published in 2004, presents an academic and a practical aspect on managing pension funds to clarify the global debate on social security. The authors establish the basic choices in designating any system to help policy makers develop the system that achieves their many objectives. They examine reforms in Latin America to highlight flaws and to estimate the true cost of these reforms and factors affecting these costs. The authors then...

February 23, 2017

Books, Books, Pension design, Regulation, System SustainabilitySpain

04FebFebruary 4, 2017

Reforming retirement age in DB and DC pension systems in an aging OLG economy with heterogenous agents

By Joanna Tyrowicz, Krzysztof Makarski and Marcin Bielecki We analyze the effects of increasing the retirement age in two economies with overlapping generations and within cohort ex ante heterogeneity. The first economy has a defined benefit system, and the second economy is in transition from a defined benefit to a defined contribution. We find that if increase in the retirement age is phased in a way that allows agents to adjust, welfare is not reduced and welfare effects have a...

February 4, 2017

Aging, Articles, Pension designLabor Market, Political economy

04FebFebruary 4, 2017

Redesigning pension systems: the institutional structure of pension systems should follow population developments

By Marek Gora For decades, pension systems were based on the rising revenue generated by an expanding population (demographic dividend). As changes in fertility and longevity created new population structures, however, the dividend disappeared, but pension systems failed to adapt. They are kept solvent by increasing redistributions from the shrinking working-age population to retirees. A simple and transparent structure and individualization of pension system participation are the key preconditions for an intergenerationally just old-age security system. Full Content: EconBiz

February 4, 2017

Articles, Books, Labor Market, Pension design, Regulation

04FebFebruary 4, 2017

Do Non-Monetary Prices Target the Poor? Evidence from a Field Experiment in India

By Bridget Hoffmann This paper uses willingness to pay (WTP) data from a field experiment in Hyderabad, India in 2013 to determine whether non-monetary prices better target health products to the poor than monetary prices. Monetary WTP is increasing in income and non-monetary WTP is weakly decreasing in income. Household fixed effects in a pooled sample of monetary WTP and non-monetary WTP are used to compare the correlation of income and WTP across price types. It is found that non-monetary...

February 4, 2017

Articles, Labor Market, Pension designSocial Protection

04FebFebruary 4, 2017

Promised and Affordable Replacement Rates in LAC Pension Systems in 2015 and 2100: Methodology and Determinants

By Solange Berstein, Mariano Bosch & María Oliveri This note, originally prepared as an appendix for the 2016 Development in the Americas Report, Saving for Development, surveys the methodology and assumptions used in the discussion of replacement rates for pension systems in Latin America and the Caribbean. (more…)

February 4, 2017

Adequacy, Articles, Pension designReplacement Rate, Sustainability

04FebFebruary 4, 2017

The Effect of Non-contributory Pensions on Saving in Mexico

By IADB This paper examines the effects of non-contributory pension programs at the federal and state levels on Mexican households’ saving patterns using micro data from the Mexican Income and Expenditure Survey. The federal program by itself appears to reduce the saving rate of households whose oldest member is either 18 to 54 or 65 to 69. State programs by themselves have no significant effects on household saving rates in the smallest localities, but in larger localities they may reduce...

February 4, 2017

Adequacy, Articles, Pension designMandatory pensions, Occupational Pensions, Savings, Voluntary pensions

March 2017

Automatic Adjustment Mechanisms in Asian Pension Systems?

The Occupational and Personal Pension Schemes (General Levy) (Amendment) Regulations 2017

February 2017

Rethinking Pension Reform (English Edition)

Reforming retirement age in DB and DC pension systems in an aging OLG economy with heterogenous agents

Redesigning pension systems: the institutional structure of pension systems should follow population developments

Promised and Affordable Replacement Rates in LAC Pension Systems in 2015 and 2100: Methodology and Determinants

The Effect of Non-contributory Pensions on Saving in Mexico