December 2018

16Dec

Informing Retirement Savings Decisions: A Field Experiment on Supplemental Plans

By Robert L. Clark (North Carolina State University - Poole College of Management), Robert G. Hammond (North Carolina State University), Melinda Sandler Morrill (North Carolina State University - Department of Economics), Christelle Khalaf (North Carolina State University) Although supplemental saving plans can be an important part of an individual's financial security in retirement, contribution rates remain low, particularly among those with lower salaries and less education. We report findings from an intervention that provided information on key aspects of the...

December 16, 2018
Articles, News, Pension design, Savings, Slider, Slider-Left, , , ,
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03Dec

D3P, a new company dedicated to adding billions to pension coverage and old-age income globally

CEO William Price, formerly of the UK Treasury and World Bank, and Darren Ryder, former National Manager of KiwiSaver in New Zealand, announce the launch of D3P Global Pension Consulting – a new company with an unrivalled group of professionals dedicated to building better pension systems globally. Unlike other companies, D3P Global Pension Consulting will work with governments not only to diagnose and design pension systems but also bring deep expertise to deliver those reforms – working from strategic ambition...

December 3, 2018
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October 2018

12Oct

The Impact of Investment on Climate Change: The Case Study of Cambodia

By Phon Sophat (Thammasat University - Faculty of Economics; National Bank of Cambodia) Climate change has been mentioned as priority issues which government try to handle it with carefulness and suitability with growth and FDIs. The mainstreaming climate change might be converted into sub-national planning scale extremely identified. This include of the Strategic Framework for both centralization and decentralisation under the National Program for Sub National Democratic Development, So the development of a guideline for mainstreaming climate change into sub-national...

October 12, 2018
Articles, Investing, Pension design, Slider-Left, ,
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05Oct

Life Quality and Health Costs in Late Retirement

By Yuanshan Cheng (Winthrop University), Philip Gibson (Winthrop University), Tao Guo (William Paterson University) Individuals are living longer due to the advancement of medical technology and nutrition quality. Are the elderly enjoying retirement in those extended years with good quality of life, or, are they simply alive? Using data from the Health and Retirement Study (HRS) and the Consumption and Activities Mail Survey (CAMS), this study contributes to the literature by presenting empirical evidence on how individuals spend time in...

October 5, 2018
Articles, Pension design, Savings, Slider-Left,
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September 2018

28Sep

The Politics of Aging and Retirement: Evidence from Swiss Referenda

By Piera Bello (University of Lugano) Vincenzo Galasso (University of Lugano; Centre for Economic Policy Research) Aging creates financial troubles for PAYG pension systems, since the share of retirees to workers increases. An often advocated policy response is to increase retirement age. Ironically, however, the political support for this policy may actually be hindered by population aging. Using Swiss administrative voting data at municipal level (and individual survey data) from pension reforms referenda, we show in fact that individuals close...

September 28, 2018
Aging, Articles, Labor Market, Slider-Left, , ,
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21Sep

Predicting Retirement Savings Using Survey Measures of Exponential-Growth Bias and Present Bias

By Gopi Shah Goda (Stanford University), Matthew Levy (London School of Economics & Political Science (LSE) - Department of Economics), Colleen Flaherty Manchester (University of Minnesota), Aaron Sojourner (University of Minnesota; IZA Institute of Labor Economics), Joshua Tasoff (Claremont Colleges - Claremont Graduate University) In a nationally-representative sample, we predict retirement savings using survey-based elicitations of exponential-growth bias (EGB) and present bias (PB). We find that EGB, the tendency to neglect compounding, and PB, the tendency to value the present...

September 21, 2018
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13Sep

The world’s largest pension funds – year ended 2017

Assets under management of the world's largest pension funds totalled US$18.1 trillion in 2017. Funds increased their value by 15.1% in 2017, compared to an increase of 6.1% in 2016. Strong market returns for all major asset classes helped boost pension assets during the year. The top 20 funds experienced a higher increase than the overall ranking (17.4%), thus increasing their relative size to 41.1% of total assets. North America remained the largest region in terms of AUM, accounting for 42.3% of all...

September 13, 2018
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08Sep

Still Attached? Are Social Safety Nets Working? Labor Force Participation in European Regions

By Benjamin Hilgenstock (Institute of International Finance) & Zsoka Koczan (International Monetary Fund (IMF)) The paper examines the evolution and drivers of labor force participation in European regions, focusing on the effects of trade and technology. As in the United States, rural regions within European countries saw more pronounced declines (or smaller increases) in participation than urban regions. Unlike in the United States, however, trade and technology, captured here using novel measures of initial exposures to routinization and offshoring, did...

September 8, 2018
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August 2018

25Aug

Population Aging, Social Security and Fiscal Limits

By Burkhard Heer (University of Augsburg; CESifo (Center for Economic Studies and Ifo Institute)), Vito Polito (Cardiff Business School) & Michael Wickens (University of Cardiff; Centre for Economic Policy Research (CEPR); Centre for Economic Policy Research (CEPR); CESifo (Center for Economic Studies and Ifo Institute)) We study the sustainability of pension systems using a life-cycle model with distortionary taxation that sets an upper limit to the real value of tax revenues. This limit implies an endogenous threshold dependency ratio, i.e. a point...

August 25, 2018
Aging, Articles, Labor Market, Slider-Left, Sustainability, System Sustainability, ,
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18Aug

Financial Fraud among Older Americans: Evidence and Implications

By Marguerite DeLiema, Martha Deevy, Annamaria Lusardi, Olivia S. Mitchell The consequences of poor financial capability at older ages are serious and include making mistakes with credit, spending retirement assets too quickly, and being defrauded by financial predators. Because older persons are at or past the peak of their wealth accumulation, they are often the targets of fraud. Our project analyzes a module we developed and fielded in the 2016 Health and Retirement Study (HRS). Using this dataset, we evaluate...

August 18, 2018
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