November 2024
22Nov

Public Pension Funding Index November 2024

By Rick Gordon & Rebecca A. Sielman October 2024 broke the five-month positive investment return streak for public pensions, prompting a decrease in the estimated funded status of the 100 largest U.S. public pension plans from 82.8% as of September 30, 2024, to 81.2% as of October 31, 2024, as measured by the Milliman 100 Public Pension Funding Index (PPFI). We estimate a calendar year-to-date investment return of 7.6% through the end of October. We have projected the aggregate funded status forward from October...

November 22, 2024
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22Nov

Global Investor Insights Survey: Pension funds results

By Schroders The Schroders Global Investor Insights Survey analyses the investment perspectives of global financial professionals on a range of topics including macro themes, sustainability and public and private markets. The respondents represent a spectrum of institutions, including pension funds which are the focus of this report.​ The field work was carried out by CoreData Research via an extensive global survey during June–July 2024. The 420 pension fund respondents were split as follows: 28% Corporate DB, 14% Corporate DC, 13% Corporate Hybrid...

November 22, 2024
Books, Books, Pension Management, Reports, , ,
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22Nov

Financial Inclusion and Wellbeing

By Abigail Hiller The researchers then use their index to analyze the extent of financial exclusion across the US as well as its effects on households. They find that households in areas with greater financial inclusion tend to have higher incomes and are more likely to own homes and possess real estate wealth. Greater financial inclusion is associated with a higher probability of creating an estate, building intergenerational wealth, and breaking the poverty cycle among married individuals and those with...

November 22, 2024
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22Nov

Do Pensions Enhance Worker Effort and Selection? Evidence from Public Schools

By Michael Bates & Andrew C. Johnston Why do employers offer pensions? We empirically examine two theoretical rationales, namely that pensions improve worker effort and worker selection. We test these hypotheses using rich administrative measures on effort and output for teachers around the pension-eligibility notch. When workers cross the notch, their effective compensation falls by roughly 50 percent of salary, but we observe no reduction in worker effort or output. This implies that pension payments do not increase effort. As for selection, we find...

November 22, 2024
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22Nov

Universalizing the Access to Long-Term Care: Evidence from Spain

By Joan Costa-i-Font, Sergi Jiménez-Martín, Cristina Vilaplana Prieto & Analía Viola Spain together with Scotland are two countries that exhibit the largest expansions in long term care (LTC) in the last two decades, universalizing subsidies and supports. This paper is part of a global effort to provide a snapshot of the trends in LTC use and access, as well as the financing, and organization of the LTC system compared to other higher-income countries. The passage of Act 39/2006 on the Promotion of Personal Autonomy...

November 22, 2024
Aging, Articles, , , ,
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20Nov

Evolución del sistema de pensiones en Chile desafíos de sostenibilidad

Por Roberto Ríos Ossa & Andrés Romero Werth El análisis de la historia del sistema de pensiones chileno suele concentrarse en la creación del sistema de capitalización individual. Menos conocido fuera del país es la relación que tiene el mismo con el modelo que lo precedió, el sistema de Cajas de Previsión. Muchas de las características del primero son respuesta directa de las deficiencias del segundo, especialmente en materia de financiamiento y acceso a las prestaciones, pero a pesar de ello...

November 20, 2024
Artículos, Caracterización del Sistema, , , , ,
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15Nov

2024 Top 40 Money Managers Report: To divest or engage?

By Blake Wolfe With 15 different client organizations, including nine public sector pension plans, the Alberta Investment Management Corp. has opted to engage, rather than divest, from certain investments, particularly those in the energy sector. “One of the things we were very clear on, both for ourselves and in talking to clients, is that divestment wasn’t the way we wanted to go,” says Carmen Velasquez, the investment organization’s managing director of sustainable investing. “One of the things we talk a lot...

November 15, 2024
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15Nov

Rethinking Pension Reform

By Giulia Giupponi & Arthur Seibold Population ageing is exerting unprecedented fiscal pressure on social security systems around the world. In response, many governments are implementing or planning pension reforms, often aimed at encouraging later retirement. A long-standing literature in public economics and labour economics investigates how the design of pension systems affects individual labour supply and retirement choices. In recent years, this literature has seen a revival, with a wave of new studies from Europe and the US combining high-quality...

November 15, 2024
Books, Books, System Sustainability, , , ,
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15Nov

Pension’s Resource-Time Trade-Off: The Role of Inequalities in the Design of Retirement Schemes

By Renaud Bourlès & Santiago Lopez-Cantor Public pension schemes serve as mechanisms for inter-temporal income smoothing and within-cohort redistribution. This paper examines the influence of income and lifespan inequalities on the structure of a democratically chosen pension scheme. We use a probabilistic voting model where agents vote on the size and the degree of redistribution (i.e. the Beveridgean factor) of pension and can supplement it with voluntary contributions. Our analysis reveals that when all agents can supplement the public scheme...

November 15, 2024
Articles, Pension design, , ,
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15Nov

Can Flexible Jobs Drive the Future of Work? Lessons from MENA

By Carole Chartouni, Khalid Moheyddeen, Ramy Zeid, Rada Naji & Montserrat Pallares-Miralles The evolving nature of work is prompting a global shift towards more adaptable and flexible employment practices. Work is no longer only a place you go to for a 9 to 5 job – it is transforming into a dynamic concept as an ever-growing number of people are gravitating towards flexible employment models, often referred to as non-standard forms of employment (NSEs). Growing evidence shows that as people increasingly value...

November 15, 2024
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