September 2024

Pension Coverage and Informal Sector Workers: International Experiences

By Yu-Wei Hu & Fiona Stewart  Pension reform around the world in recent decades has focused mainly on the formal sector. Consequently, many of those working in the informal sector have been left out of structured pension arrangements, particularly in developing countries – a serious problem given this group are often low income earners, vulnerable to economic volatility and change. However, since the turn of the millennium, efforts in a range of countries have increasingly highlighted improving pension coverage for...

Pension scheme assets – how they are invested and how and why they change over time

By The Pensions Policy Intitute We know both ‘quite a lot’ and ‘not enough’ about the assets that back current and future retirement incomes. Quite a lot because there are several sources of data that map pension fund assets and the way in which they are invested. Not enough because there are gaps in our knowledge and a multiplicity of data sets that classify assets in slightly different ways. The timing of different reports can also create difficulty mapping assets...

Revisiting Sample Bias in the Uk’s Annual Survey of Hours and Earnings, with Implications for Estimates of Low Pay and the Bite of the National Living Wage

By John Forth, Alex Bryson,Van Phan, Felix Ritchie, Carl Singleton, Lucy Stokes & Damian Whittard The Annual Survey of Hours and Earnings (ASHE) is based on an annual one per cent sample of employee jobs and provides many of the UK's official earnings statistics. These statistics are generated using official weights designed to make the achieved sample in each year representative of the population of employee jobs in Britain by gender, age, occupation, and region. However, we find that jobs...

Self-Control Preferences and Pension Means Testing

By Daniel Wheadon, Gonzalo Castex, George Kudrna & Alan D. Woodland We investigate the effects of self-control preferences on household life cycle decisions, macroeconomic outcomes, and the roles they play in determining optimal means testing of public old-age pensions. To that end, we develop a stochastic overlapping generations model with heterogeneous households that have Gul-Pesendorfer self-control preferences. First, we show that in economies with higher self-control costs lifetime savings diminish, while labor supply and retirement are postponed to later ages....

The Future of Retirement Security An International Comparison through the Lens of Adequacy, Sustainability, Equity and Plan Design

By Surya Kolluri, Catherine Reilly & David P. Richardson Countries around the world are considering and implementing reforms to their retirement systems for a variety of reasons, including increasing demographic and economic pressures. A key demographic driver is human longevity. For example, the average retiree can expect to spend about two decades in retirement, roughly double the time from 50 years ago. In the United States, life expectancy has risen by 17 years since the Social Security program debuted nearly...

Edad, trabajo y salud ocupacional: retos y oportunidades para los trabajadores y las organizaciones en Iberoamérica

Por Carlos María Alcover de la Hera El envejecimiento de la fuerza de trabajo debido a los cambios sociodemográficos globales plantea un conjunto de retos y de oportunidades cuya gestión es compleja y cuyos resultados pueden traer consigo consecuencias muy diversas para las personas y para las organizaciones. El principal objetivo de este artículo es analizar los más importantes identificados por la investigación internacional aplicados al contexto iberoamericano. Tras una contextualización de esos cambios sociodemográficos y sus impactos en el...

El Sistema Nacional de Pensiones y la política de endeudamiento en el Perú: financiamiento de las reformas paramétricas en crisis pandémica

Por Luis Alberto Quintana García  En el presente trabajo se analiza el problema del financiamiento de las reformas paramétricas realizadas al Sistema Nacional de Pensiones (SNP) del Perú, en el periodo de la pandemia, para lo cual, se inicia con un estudio sobre el estado en el que se encuentra el SNP y cómo llega al contexto de la pandemia; posteriormente, se examina el proceso de implementación delas reformas paramétricas, a través de la revisión crítica del proceso de promulgación...

Net-Zero Asset Owner Alliance unveils milestone emissions cuts

Institutional investors holding a combined $9.5 trillion of assets say they’ve slashed portfolio emissions at a rate that aligns them with the goal of limiting global warming to the critical threshold of 1.5C. The Net-Zero Asset Owner Alliance, whose signatories include Allianz and the $519.9 billion California Public Employees’ Retirement System, Sacramento, said in a statement on Sept. 25 that reduction in greenhouse gas emissions registered by its 88 members was at least 6% on average, annually, since 2018. At...

EU. Who can expect the most healthy life years?

In 2022, the number of healthy life years at birth in the EU was 62.6 years on average, 62.8 years for women and 62.4 years for men. Life expectancy at birth for women in the EU was, on average, 5.4 years longer than that for men (83.3 years compared with 77.9 years). Healthy life years - free from activity limitations - represent 75% and 80% of the total life expectancy for women and men, respectively. Therefore, on average, men tend to spend a greater proportion...

US. 5 Ways a Kamala Harris Presidency Could Impact Retirees

Vice President Kamala Harris wasn’t even a contender for the White House earlier this year, but she is now the Democratic nominee for the presidency and running neck and neck with her Republican opponent, former President Donald Trump. If she wins, she is expected to promote policies that could affect the bottom line of millions of retirees. “There’s been nothing that she’s said that would lead me to believe she’s a negative to retirees,” says Chris Orestis, president of Retirement Genius,...