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By The Law Library English Pension Schemes Act 2017 The Law Library presents the official text of the English Pension Schemes Act 2017. Get it HERE
02Apr
April 2018
March 2018
26Mar
The Time Has Come to Revisit Solvency Funding Rules
By Norma L. Nielson (University of Calgary - Haskayne School of Business) Canadians are not fond of hearing news about people losing their hard-earned pensions because their employer misused the money. The thought of some Working Joe or Jane being deprived of a pension, after a lifetime of working for a company, is naturally repugnant. That is why regulations around defined-benefit pension plans are designed to force employers to keep their pension funds sufficiently solvent. But there are many ways...
February 2018
19Feb
Political Viability of Intergenerational Transfers. An Empirical Application
By Gianko Michailidis (University of Barcelona) & Concepcio Patxot (University of Barcelona - Department of Economic Theory) Public intergenerational transfers (IGTs) may arise because of the failure of private arrangements to provide optimal economic resources for the young and the old. We examine the political sustainability of the system of public IGTs by asking what the outcome would be if the decision per se to reallocate economic resources between generations was put to the vote. By exploiting the particular nature...
January 2018
22Jan
The Retirement Survival Guide: How to Make Smart Financial Decisions in Good Times and Bad
By Julie Jason Given today’s dire headlines, planning a secure retirement has become a more critical task than ever. This revised edition of Julie Jason’s award-winning guide—updated to reflect current laws and statistics—will help Americans seeking safety and stability in a time of economic change. In addition to showing those on the verge of retirement how to create their own “personal pension,” investment educator Jason deftly guides prospective retirees through the otherwise bewildering process of evaluating their needs, anticipating future...
22Jan
The Blended Retirement System
By Patrick Weinert For over a century, the military services have provided pensions to active duty members that served 20 years. On January 1, 2018, the military broke with a long tradition and instituted a Blended Retirement System (BRS). This system is designed to enable service members to take some retirement savings with them if they depart before serving 20 years on active duty. Today, many service members have the option to stay with the traditional pension or enroll in...
22Jan
Simulating Pension Income Scenarios with Pencalc: An Illustration for India’s National Pension System
By Renuka Sane (Indian Statistical Institute, New Delhi) & William Joseph Price (World Bank) This paper sets out initial results from a new modeling exercise for Defined Contribution (DC) pensions. It develops a package called penCalc based on the open source software language R, which is popular in the academic and modeling communities. All the coding is made freely available. The tool is illustrated for India's DC National Pension System. The aim is not to present the perfect model for...
22Jan
Simulating Pension Income Scenarios with Pencalc: An Illustration for India's National Pension System
By Renuka Sane (Indian Statistical Institute, New Delhi) & William Joseph Price (World Bank) This paper sets out initial results from a new modeling exercise for Defined Contribution (DC) pensions. It develops a package called penCalc based on the open source software language R, which is popular in the academic and modeling communities. All the coding is made freely available. The tool is illustrated for India's DC National Pension System. The aim is not to present the perfect model for...
15Jan
A Look into the United States’ Underfunded Pension System
By Jason Lin (Truman State University - Department of Business Administration) & Jane Sung (Truman State University) The public pension crisis has come under increasing scrutiny over the past decade as shifting demographic trends, harsh economic conditions and the very nature of pension funds have changed, and not for the better. Pension funds create valuable saving and investment tools for an individual's retirement. They make what seems like the impossible daunting task of saving sufficient funds for retirement completely feasible....
December 2017
23Dec
The Modern Tontine: An Innovative Instrument for Longevity Risk Management in an Aging Society
By Jan-Hendrik Weinert (Goethe University Frankfurt - Faculty of Economics and Business Administration) & Helmut Gründl (Goethe University Frankfurt - Department of Finance; International Center for Insurance Regulation) The changing social, financial and regulatory frameworks, such as an increasingly aging society, the current low interest rate environment, as well as the implementation of Solvency II, lead to the search for new product forms for private pension provision. In order to address the various issues, these new product forms should reduce...
November 2017
28Nov
As good as it gets? The adequacy of retirement income for current and future generations of pensioners
By David Finch & Laura Gardiner (Resolution Foundation) Recent strong growth in the incomes of pensioner households and reductions in pensioner poverty are to be welcomed. But set against much weaker incomes for working age households and the challenges younger generations are facing in accumulating wealth, anxiety is building that these outcomes may not be sustained for future generations of retirees. Their prospects are particularly uncertain given both the big shifts in pensions policy currently in train and the fiscal...