March 2024
27Mar

Autonomy or Delegation, Libertarianism or Paternalism: What I Like for Myself and What I Like for Others on Pension Savings

By Carmen Sainz Villalba By using an online survey conducted with Bilendi&Respondi, we correlate the variables of people’s perception of howdifferent they are from others with respect to their pension plan preferences, how informed they are about financial matters in general, and what are their preferences toward the government intervention of savings plans. The empirical approach is inspired by theory results of Konrad (2023). His game-theory analysis suggest that two factors increase the citizen’s desire for autonomous economic decision-making: eccentricity...

March 27, 2024
Articles, Savings, , ,
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22Mar

Fertility, mortality, migration, and population scenarios for 195 countries and territories from 2017 to 2100: a forecasting analysis for the Global Burden of Disease Study

By Prof Stein Emil Vollset, DrPH, Emily Goren, PhD, Chun-Wei Yuan, PhD, Jackie Cao, MS, Amanda E Smith, MPA, Thomas Hsiao, BS, Catherine Bisignano, MPH, Gulrez S Azhar, PhD, Emma Castro, MS, Julian Chalek, BS, Andrew J Dolgert, PhD, Tahvi Frank, MPH, Kai Fukutaki, BA, Prof Simon I Hay, FMedSci, Prof Rafael Lozano, MD, Prof Ali H Mokdad, PhD, Vishnu Nandakumar, MS, Maxwell Pierce, BS, Martin Pletcher, BS, Toshana Robalik, BSc, Krista M Steuben, MS, Han Yong Wunrow, BSc,...

March 22, 2024
Aging, Books, Books, Reports, ,
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22Mar

U.S. Pension Risk Transfer. 2023 Reflections and Looking Ahead

By AON The U.S. pension risk transfer (PRT) market saw another record-breaking year in 2023. After setting record highs for total premium in 2021 and 2022, the market set a new high-water mark for the total number of transactions in 2023 with 773 deals closing during the calendar year. These transactions resulted in $45 billion of premium transferred. Since 2012, $318 billion of pension obligations have transferred from plan sponsors to insurance companies. On the other side of the equation, insurer...

March 22, 2024
Books, Books, Pension Management, Reports, , , ,
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22Mar

The Riccati Tontine: How to Satisfy Regulators on Average

By Moshe A. Milevsky & T. S. Salisbury This paper presents a new type of modern accumulation-based tontine, called the Riccati tontine, named after two Italians: mathematician Jacobo Riccati (b. 1676, d. 1754) and financier Lorenzo di Tonti (b. 1602, d. 1684). The Riccati tontine is yet another way of pooling and sharing longevity risk, but is different from competing designs in two key ways. The first is that in the Riccati tontine, the representative investor is expected -- although...

March 22, 2024
Articles, Pension design, ,
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22Mar

Childhood Experience and Expected Sources of Income in Old Age

By Huabin Bian, Fei Jin, Qingfu Liu & Yiuman Tse This paper uses the China Health and Retirement Longitudinal Study (CHARLS) database to explore the impact of family relationships in childhood (CFR) and economic conditions in childhood (CEC) on awareness of income sources in old age (AOAIS). We find that people whose family relationships in childhood were harmonious have passive AOAIS, whereas those with favorable economic conditions in childhood demonstrate proactive AOAIS. CFR affects AOAIS through family values, while CEC influences...

March 22, 2024
Articles, System Characterization, ,
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22Mar

Pension funds and fossil fuel phase-out: historical developments and limitations of pension climate strategies

 By Clara McDonnell Despite the decades of international climate negotiations and several landmark agreements, global efforts to date to restrict fossil fuel production in line with climate targets have been unsuccessful. As national and international policies continue to fall short of phasing out fossil fuels, increasing attention has been paid to non-state actors, like pension funds, as a potential source of more ambitious climate action. As major asset owners, large shareholders in fossil fuel companies, and historically activist investors, pension...

March 22, 2024
Articles, Investment, , , , ,
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21Mar

Financiamiento de las pensiones: Escenarios sobre su carga fiscal a 2030

Por Alejandra Macias Sánchez (CIEP) La presente investigación analiza el financiamiento público de las pensiones y realiza escenarios de proyecciones de gasto, con base en los cambios que se proponen y prometen. Primero, se presenta la composición del gasto público destinado a pensiones. Posteriormente, se explican las iniciativas de reforma y las propuestas para la siguiente administración. Finalmente, se muestran las proyecciones de las pensiones a 2030 y los riesgos de seguir aumentando este gasto. Lee el reporte completo aquí

March 21, 2024
Libros, Libros, Reportes, , , ,
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15Mar

Unpackaging ESG: Evidence from 401(k) Investment

By Jiaxing Tian & Jiahong Shi We study how investors respond to scandals related to three distinct aspects of ESG--E(nvironmental), S(ocial) and G(overnance)--in their retirement savings. Using data on 401(k) investments, we show that nearby ESG scandals correlate with increased ESG fund additions and flows, possibly through ``evoking'' their existing sustainable preferences. Investors with different characteristics respond heterogeneously to E, S and G scandals. In magnitude, old investors are twice as likely as young investors to add ESG funds to...

March 15, 2024
Articles, Investment, , , , , ,
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15Mar

An Assessment of the 2019 and 2020 Pension Reforms in Mexico

By Boele Bonthuis In recent years the Mexican pension system has changed significantly. In 2019 the existing means-tested social pension was made universal – covering everyone over the age of 65 – and the benefit level increased. In 2020, the main regime of the private sector was substantially reformed, increasing contribution rates for the funded defined contribution system, lowering the minimum years of contributions needed to receive an earnings-related pension, and increasing minimum pensions. This paper tries to assess the...

March 15, 2024
Articles, System Characterization, , , ,
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13Mar

Tras la catástrofe de los retiros, los fondos de pensiones se recuperan

Por Observatorio Perspectivas  Informe Financiero-Primer Trimestre 2024. Tras la catástrofe de los retiros, los fondos de pensiones se recuperan. Tomó más de tres años y medio recuperar el nivel de ahorro para las pensiones que había antes de los retiros del 10%, pero se perdió la oportunidad de ir más allá con las ganancias por rentabilidad. Asimismo, se constata que persisten amenazas de la misma índole, como los autopréstamos. Libro completo aquí   

March 13, 2024
Administración de Pensiones, Libros, Libros, Reportes, , ,
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