October 2020

29Oct

The Changing Nature of Work and Public Pension Coverage: Evidence from the US and Europe

By Axel H. Börsch-Supan, Courtney Coile, Jonathan Cribb, Carl Emmerson and Yuri Pettinicchi We examine non-standard work and its impact on pension coverage via a case study of the US, the UK, and Germany. We find that the share of workers engaged in non-standard work has changed only modestly over time in these three countries, despite the popular perception that a more significant transformation in the nature of work may be underway. We discuss how non-standard work may affect...

October 29, 2020
Articles, Labor Market, System Sustainability, , , ,
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23Oct

The Changing Nature of Work and Public Pension Coverage: Evidence from the US and Europe

By Axel H. Börsch-Supan, Courtney Coile, Jonathan Cribb, Carl Emmerson, Yuri Pettinicchi We examine non-standard work and its impact on pension coverage via a case study of the US, the UK, and Germany. We find that the share of workers engaged in non-standard work has changed only modestly over time in these three countries, despite the popular perception that a more significant transformation in the nature of work may be underway. We discuss how non-standard work may affect public...

October 23, 2020
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20Oct

Govt seeks to overturn Pension Schemes Bill amendment defeats

The government is seeking to overturn the four Pension Schemes Bill amendment votes it lost in the House of Lords in the summer by removing them from the bill. In a House of Commons Notices of Amendments publication, Pensions Minster, Guy Opperman, outlined the removal of the House of Lords’ amendments. The amendments relate to commercial pensions dashboards, transaction facilities on dashboards, reporting on fairness to members of collective defined contribution (CDC) schemes, and open defined benefit (DB) schemes...

October 20, 2020
News, Regulation, System Sustainability, , , , ,
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15Oct

The Unequal Burden of Retirement Reform: Evidence from Australia

By Todd Morris As governments try to contain rising expenditure on retirement pensions by increasing eligibility ages, there are concerns that such reforms disproportionately affect poorer households. Using detailed longitudinal data, I examine this trade-off in the context of an Australian reform that increased women’s pension-eligibility age from 60 to 65. While this reform led to significant reductions in net government expenditure, the negative effects on household incomes were concentrated among poorer households. These unequal impacts meant that,...

October 15, 2020
Articles, System Sustainability, ,
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09Oct

New Finance: In Search for Analytical Framework

By Jan Monkiewicz Since the beginning of the century, modern financial systems have been experiencing a period of dynamic change. These changes have caused the uniform fabric on which the systems were based for a long time to become eroded and a multitude of alternative solutions to appear in their place. The existing systems are becoming increasingly heterogeneous and increasingly less transparent. In addition to the traditional financial system based on highly regulated financial intermediaries with a legal monopoly,...

October 9, 2020
Articles, Digital Financial Services, System Sustainability, ,
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09Oct

Pensions for State and Local Government Workers Not Covered by Social Security: Do Benefits Meet Federal Standards?

By Laura Quinby, Jean-Pierre Aubry, Alicia H. Munnell Federal law allows certain state and local governments to exclude employees from Social Security coverage if the employees are provided with a sufficiently generous pension. Approximately 6.5 million such workers were not covered by Social Security in 2018. Retirement systems for non-covered workers have become less generous in recent years, and a few plans could exhaust their trust funds within the next decade, putting beneficiaries at risk. This article examines data...

October 9, 2020
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02Oct

Fintech and Financial Literacy in the Lao PDR

By Peter Morgan, Long Q. Trinh A growing literature has examined the role of financial literacy in an individual’s income, saving behavior and the use of various financial products. However, so far, no one has examined the relationship between financial literacy and the awareness and adoption of financial technology (fintech) products, i.e., financial products provided via internet-based and mobile-based platforms. This paper examines this relationship in a developing country, the Lao People’s Democratic Republic (PDR). We use information collected...

October 2, 2020
Articles, Innovation, System Sustainability, , , ,
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September 2020

24Sep

Financial education: Current practices and future challenges

By Kristof De Witte, Oliver Holz, Kenneth De Beckker In a world where individuals become increasingly responsible for their financial well-being, and where the complexity of financial markets and products is growing, financial education becomes crucial. Although it is well accepted to introduce financial education in compulsory education, there is no consensus on the optimal way to implement financial education. This book explores the current state and the future challenges of financial education in five European countries: Belgium,...

September 24, 2020
Books, System Sustainability,
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11Sep

2019 World Pensions Forum Held in EU Capital Before G7 Summit

By M. Nicolas J. Firzli The 8th World Pensions Forum was held 23-24 May: 130 pension executives and supranational experts representing $12 trillion in combined assets convened in Brussels to discuss “Effective Asset Ownership”. The Forum was pleased to note that some of our ideas were taken up by the Finnish presidency of the Council of Europe and the G7 Steering Committee – notably the empowerment of women entrepreneurs and the notion of institutional co-investment in private equity and sustainable...

September 11, 2020
Articles, Pension design, Regulation, Reports, System Sustainability, ,
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07Sep

Poverty trap in Mexico, 1992-2016

By Eduardo Loría The paper aims to prove that between 1992 and 2016, people in poverty as a proportion of the total population has not been reduced. In particular, food poverty (FP) represented an average of 22%, despite the fact that gross domestic product (GDP) per capita and GDP, social development expenditure and food programme expenditure (both as GDP proportion) grew by 0.96%, 1.9%, 2.7% and −17.4% on an annual average, respectively. Design/methodology/approach There are non-linear relationships between...

September 7, 2020
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