We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.
The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ...
Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.
Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.
By Katherine Russell, Melissa Wongand & Alice Fletcher The bulk annuity market has seen an increase in full scheme buy-ins, which is a significant milestone for any pension scheme. However, there are still lots to do before the buy-in is converted to a buyout and the pension scheme can be wound up. Katherine Russell, Melissa Wong and Alice Fletcher highlight the key steps and considerations following a full scheme buy-in. Get the report here
By René Maatman & Kleis Broekhuizen When it comes to sustainability, much is expected of pension funds. Of course, they must ensure value-proof pensions. They are also expected to contribute to the environment, climate, human rights, social justice, and corporate governance. ESG must be factored into investment policy. But how and to what extent? There are varying preferences within the population of pension participants. Politicians, action groups and NGOs have their own beliefs. Pension fund boards must make complex trade-offs. How...
By Peer C. Zumbansen This article provides an in-depth summary of the inaugural Fall conference on ESG and Sustainable Finance at McGill University, November 2023. The conference was hosted by the SGI CIBC Office for Sustainable Finance (OSF) and the Business Law Platform at McGill’s Faculty of Law. OSF was established under the auspices of McGill’s Sustainable Growth Initiative, a cross-departmental research and collaboration platform committed to cutting-edge scholarship and training on sustainable finance, decarbonisation, green mobility, climate change and...
By Fan Zhang We have reconfigured the Age-structured Model(ASM) model, leveraging its mathematical underpinnings rooted in cohort dynamics. This paper applies the novel ASM framework to the issue of Collective Defined Contribution Pension(CDC) pensions, providing a profound characterization of population dynamics and asset fluctuations at each time-age point within the pension context. This serves to substantiate the novel ASM framework as the key mathematical model for addressing CDC-related challenges. Furthermore, we have illustrated the distinct advantages of ASM through this...
Por Enrique Díaz-Infante Chapa La reforma de 1995 creo el Sistema de Ahorro para el Retiro (SAR). Fue muy positiva en cuanto a que, a través de las Afores, dio propiedad y transparencia a los trabajadores sobre su jubilación. También en cuanto a que hizo financieramente viable un sistema pensionario que fiscalmente era insostenible y generó ahorro necesario para invertir en muchos proyectos de infraestructura, con impacto favorable en crecimiento y desarrollo del país. Fuente Centro de Estudios Espinosa Yglesias
By Pension Protection Fund The PPF 7800 Index tracks the level of underfunding risk in the PPF-eligible universe using the latest scheme return information provided to The Pensions Regulator and the roll- forward methodology used for PPF levy purposes. There are certain simplifications within the levy calculation, as described in note 4 on page 7 of this document, that should be borne in mind when interpreting these results. In particular, the assets and liabilities have not been reduced for benefit...
By Zorast Wadia The funded status of the country’s 100 largest corporate pension plans, as measured by the Milliman 100 Pension Funding Index (PFI), experienced a modest improvement in 2023, driven by annual investment returns of 9.94%. Declining discount rates, particularly in the fourth quarter, and the corresponding liability (i.e., the projected benefit obligation) increase of 8.33% served to partially offset the asset gains, resulting in a funded status improvement of $4 billion for the year. This gain paled in...
By Malene C. F. Laczek In this paper, I study how the labor supply of one generation affects the next. Utilizing longitudinal Danish register data and a large retirement reform, I document that parents’ retirement significantly affects the labor supply of their adult children. This inter-generational link is driven solely by mothers. Concretely, mothers’ retirement permanently increases their adult children’s income rank by 7 income rank points, driven by increased hours worked, participation in the labor force, improved occupational rank,...
By Giulia Klinges, Alain Jousten & Mathieu Lefebvre Over the years, the Belgian social security system has undergone substantial reform with a prime focus on increasing older worker labor force participation. The paper explores the effect of past reforms on inequality in old age. We distinguish two separate effects: The mechanical effect considers the change in inequality and expected benefit levels due to the reforms for a fixed retirement age distribution. The behavioral effect accounts for the endogenous change caused...
By Social Security Administration People contribute to Social Security through payroll taxes or self-employment taxes, as required by the Federal Insurance Contributions Act (FICA) and the Self-Employment Contributions Act (SECA). The maximum taxable amount is updated annually on the basis of increases in the average wage. Of the 181 million workers with earnings in Social Security–covered employment in 2022, about 7% had earnings that equaled or exceeded the maximum amount subject to taxes, compared with 3% when the program began...
Arabic
Chinese (Simplified)
English
French
German
Portuguese
Russian
Spanish