We value your privacy

We use cookies to enhance your browsing experience, serve personalized ads or content, and analyze our traffic. By clicking "Accept All", you consent to our use of cookies.

Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

February 2024

02Feb

Gender Inequality Over the Life Cycle, Information Provision and Policy Preferences

By Alessandra Casarico, Jana Schuetz & Silke Uebelmesser We conduct a survey experiment with four thousand German respondents and provide information on two measures of gender inequality, separately or jointly: the gender gap in earnings and the gender gap in pensions. We analyze the effect of information provision on respondents’ views on the importance of reducing gender inequality and on their agreement with the adoption of policies targeted at different stages of the life cycle and aimed at reducing the...

February 2, 2024
Articles, Pension design, , , ,
Read more...

January 2024

26Jan

Planning for a pension scheme buyout

By Katherine Russell, Melissa Wongand & Alice Fletcher The bulk annuity market has seen an increase in full scheme buy-ins, which is a significant milestone for any pension scheme. However, there are still lots to do before the buy-in is converted to a buyout and the pension scheme can be wound up. Katherine Russell, Melissa Wong and Alice Fletcher highlight the key steps and considerations following a full scheme buy-in. Get the report here

January 26, 2024
Books, Books, Pension design, Reports,
Read more...
26Jan

Collective Defined Contribution Pension with Stochastic Age-structured Models

By Fan Zhang We have reconfigured the Age-structured Model(ASM) model, leveraging its mathematical underpinnings rooted in cohort dynamics. This paper applies the novel ASM framework to the issue of Collective Defined Contribution Pension(CDC) pensions, providing a profound characterization of population dynamics and asset fluctuations at each time-age point within the pension context. This serves to substantiate the novel ASM framework as the key mathematical model for addressing CDC-related challenges. Furthermore, we have illustrated the distinct advantages of ASM through this...

January 26, 2024
Articles, Pension design,
Read more...

December 2023

15Dec

Retirement Trajectories and Social Security’s Retirement Earnings Test

By Bob Joondeph Chair, Nancy J. Altman, Jagadeesh Gokhale & Amy Shuart Social Security’s retirement earnings test (RET) temporarily withholds or reduces the Social Security benefits of people below full retirement age (FRA) who work and earn above a certain threshold while collecting retirement benefits. Those benefits are increased at FRA to account for the months when benefits were withheld or reduced under the RET. The legislative intent of the RET, which has been part of the law since Social...

December 15, 2023
Books, Books, Pension design, Reports, , , ,
Read more...
15Dec

Innovative Combo Product Design Embedding Variable Annuity and Long-Term Care Insurance Contracts

By Yang Shen, Michael Sherris, Yawei Wang & Jonathan Ziveyi This paper presents a novel combo insurance product design consisting of a variable annuity contract embedded with guaranteed minimum income benefits and long-term care insurance. This combo product provides enhanced benefits when the policyholder is functionally disabled. The Hamiltonian Monte Carlo simulation technique is utilised for numerically valuing the combo product whose underlying fund is proportionally invested in multiple asset classes. Product features including the elimination period and the maximum...

December 15, 2023
Articles, Pension design, , ,
Read more...
15Dec

The Shift that Redefined Retirement Security

By Shashwat Vidhu Sher Retirement plans have been a standard feature of public and private sector employers in the United States since the early 1900s. Although Defined Benefit plans were the mainstay of most pensions plans for much of the twentieth century, there was a massive shift in the 1980s, mainly in the private sector, towards Defined Contribution plans like 401(k). The paper argues that government policies for the private sector, new employer-employee relationship, job-switching, and familiarity with the financial...

December 15, 2023
Articles, Pension design, , , ,
Read more...
15Dec

Playing the Long Game: How Longevity Affects Financial Planning and Family Caregiving

By Surya Kolluri, Janet Weiner & Mary Naylor Since 1935, when Social Security set the age to receive full benefits at 65, average life expectancy in the United States has risen by 17 years. This increased longevity has clear implications for financial planning, both in terms of the timing of retirement and the need to plan for a longer period of retirement. But there are less obvious implications as well, in terms of the likelihood and length of time that...

December 15, 2023
Articles, Pension design, , , ,
Read more...
08Dec

The Relationship between Retirement Adjustment and Personality Traits Among Elderly in Gamo Zone, Ethiopia

By Fekadu Mekuria Deme & Girma Gura Ayele The objective of this study was to investigate the relationship between retirement adjustment and personality traits among elderly. The study was conducted on 356 retired public servants aged 60 and above residing in Gamo zone, Southern Ethiopia. The study employed a correlational research design. A demographic questionnaire prepared by the researchers and 3 adapted instruments were used to collect the data. The data were analyzed using both descriptive and inferential statistics. The...

December 8, 2023
Articles, Pension design, , ,
Read more...
08Dec

Household Financial Literacy and Retirement Planning in Rural China

By Yuting Qian, Weiqiang Tan & Jingbo Wu Rural villager’s retirement is an essential issue in China. This study investigates the level of financial literacy of rural residents and its relationship with retirement planning. In-depth survey data of rural residents in the Greater Bay Area reveal that rural residents with different demographic structures have different levels of financial literacy. The empirical study finds that financial literacy is positively related to retirement planning, and this result is robust. Further research shows...

December 8, 2023
Articles, Pension design, , ,
Read more...
01Dec

Subjective survival beliefs and the life-cycle model

By Seung Yeon Jeong, Iqbal Owadally, Steven Haberman & Douglas Wright Evidence from panel surveys of households, collected over several years and in different countries, shows that people’s perception about their remaining lifetime deviates from actuarial data. This has consequences for consumption, savings and investment over an individual’s financial life cycle, and in particular for retirement planning and the purchase of annuities. We use data from the U.S. Survey of Consumer Finances to estimate subjective survival probabilities at different ages....

December 1, 2023
Articles, Pension design, , ,
Read more...
ar Arabiczh-CN Chinese (Simplified)en Englishfr Frenchde Germanpt Portugueseru Russianes Spanish
en English