February 2018

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

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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22Jan

Simulating Pension Income Scenarios with Pencalc: An Illustration for India’s National Pension System

By Renuka Sane (Indian Statistical Institute, New Delhi) & William Joseph Price (World Bank) This paper sets out initial results from a new modeling exercise for Defined Contribution (DC) pensions. It develops a package called penCalc based on the open source software language R, which is popular in the academic and modeling communities. All the coding is made freely available. The tool is illustrated for India's DC National Pension System. The aim is not to present the perfect model for...

January 22, 2018
Articles, Labor Market, Pension design, Regulation, , , ,
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22Jan

Simulating Pension Income Scenarios with Pencalc: An Illustration for India's National Pension System

By Renuka Sane (Indian Statistical Institute, New Delhi) & William Joseph Price (World Bank) This paper sets out initial results from a new modeling exercise for Defined Contribution (DC) pensions. It develops a package called penCalc based on the open source software language R, which is popular in the academic and modeling communities. All the coding is made freely available. The tool is illustrated for India's DC National Pension System. The aim is not to present the perfect model for...

January 22, 2018
Articles, Labor Market, Pension design, Regulation, , , ,
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15Jan

A Look into the United States’ Underfunded Pension System

By Jason Lin (Truman State University - Department of Business Administration) & Jane Sung (Truman State University) The public pension crisis has come under increasing scrutiny over the past decade as shifting demographic trends, harsh economic conditions and the very nature of pension funds have changed, and not for the better. Pension funds create valuable saving and investment tools for an individual's retirement. They make what seems like the impossible daunting task of saving sufficient funds for retirement completely feasible....

January 15, 2018
Articles, Pension design, Regulation, System Sustainability, , ,
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December 2017

30Dec

An Inquiry Into the Legality of Pensions on the Irish Establishment

By Alexander M'Aulay Excerpt from An Inquiry Into the Legality of Pensions on the Irish Establishment Thus, it moft evidently appears, that not only the Iri/b temporary Duties, but alfo the 17% (bit Rents and crown-rents and the Irifl) Hereditary Duties whieh are granted by Act of parliament, are all, the public, unalienable Revenue of the Crown, limited to public Ufes. (more…)

December 30, 2017
Books, Regulation
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30Dec

Welfare State Reforms Seen from Below: Comparing Public Attitudes and Organized Interests in Britain and Germany

By Bernhard Ebbinghaus,‎ Elias Naumann Studying the political economy of welfare state reform, this edited collection focuses on the role of public opinion and organized interests in respect to policy change. It highlights that welfare states are hard pressed to reform in order to cope with ongoing socio-economic and demographic challenges. While public opinion is commonly seen to oppose welfare cuts and organized interests such as trade unions have tended to defend acquired social rights, this book shows that there...

December 30, 2017
Books, Regulation, , , ,
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04Dec

Securing Lifelong Retirement Income: Global Annuity Markets and Policy

By Olivia S. Mitchel Interest in longevity and longevity risk management is burgeoning, as government and regulatory agencies are increasingly conscious of the potential risks and benefits of longer lifespans. Commercial and industrial organizations, especially within the financial sector, are awakening to the opportunities presented by population aging, along with the new array of financial insurance instruments to manage longevity risk, which more sophisticated markets are making possible. This volume explores three main themes: the need for products to manage...

December 4, 2017
Books, Corporate Governance, Investing, Regulation, , ,
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