Income Archives - Page 20 of 50 - Pension Policy International

11MayMay 11, 2022

Zimbabwe: Low Pensions Force Workers to Resist Retirement

Low pensions payouts by both private and public sectors to workers has forced many to shun retirement. Some workers have reportedly gone to the extent of misrepresenting their dates of birth to postpone retirement from the organisations they would have served. What makes it worse is that the ongoing hyperinflation and which is eating into incomes as well as very low remuneration by both private companies and the government. In some instances, workers who have reached pensionable age die at work due...

May 11, 2022

News2022, Income, Retirement Age, Zimbabwe

06MayMay 6, 2022

On the path to bigger income in the future – news in Latvia’s Pension Law

Too often than not residents in Latvia do not follow their pension, because in most cases the word pension is something they associate with the far future. Additionally, people sometimes do not understand how their pension is calculated. In reality, however, it is all simple – the future pension «grows» little by little every day. The pension amount depends on two main indexes: residents’ paid tax amount and how much the saved up money is able to earn residents...

May 6, 2022

News2022, Income, Latvia

05MayMay 5, 2022

The LGBTQ+ Gap: Recent Estimates for Young Adults in the United States

By Marc Folch This article provides recent estimates of earnings and mental health for sexual and gender minority young adults in the United States. Using data from a nationally representative sample of bachelor’s degree recipients, I find a significant earnings and mental health gap between self-identified LGBTQ+ and comparable heterosexual cisgender graduates. On average, sexual and gender minorities experience 22% lower earnings ten years after graduation. About half of this gap can be attributed to LGBTQ+ graduates being less likely...

May 5, 2022

Articles, Labor Market, System Characterization2022, Equality, Health, Income

21AprApril 21, 2022

US. Inflation is taking a big bite from retirees’ pension income

Most pensions, unlike Social Security payments, don’t offer a cost-of-living adjustment that keeps pace with the current inflation rate. State and local government pensions typically offer up to a 2% or 3% adjustment a year. Private-sector employers that still provide pensions, however, typically don’t offer a COLA at all. There may be a tension between enhancing a pension’s adjustment and maintaining the plan’s longer-term financial health. Inflation is taking a substantial bite from the income retirees get from pensions. Many...

April 21, 2022

NewsAdequacy, Income, US

21AprApril 21, 2022

UK. Workplace pension of £65,400 in public sector six times more than private average

The number of people saving in workplace pensions has risen slightly, with the average pension value standing at £65,400 in the public sector compared to just £10,300 in the private sector. Overall, 79% of eligible employees, or 22.6 million, were participating in a workplace pension in April 2021, up slightly from 78% in 2020, according to the Office for National Statistics (ONS). The ONS said that the growth was partly explained by “increased public sector employment driven by the government's response...

April 21, 2022

News2022, Income, UK

14AprApril 14, 2022

Movements In and Out of Poverty at Older Ages: Evidence from the HRS

By Robert L. Clark, Annamaria Lusardi & Olivia S. Mitchell The objective of this paper is to determine Americans’ mobility patterns into and out of poverty in their later years. We track how older adults enter into and exit from poverty using the most extensive longitudinal survey on older Americans currently available, the Health and Retirement Study (HRS). Using over 20 years of data from the HRS, we show that the conditional probability of escaping poverty diminishes as the number...

April 14, 2022

Aging, Articles, System Characterization2022, Income, Poverty, Risk

Labor Marcket Search, Informality, and Schooling Investmets

14AprApril 14, 2022

Labor Market Search, Informality, and Schooling Investmets

By Matteo Bobba, Luca Flabbi & Santiago Levy We develop a search and matching model where jobs can be formal or informal. Workers choose schooling and search for jobs. Firms post vacancies in each schooling market and decide the job's formality status. Upon meeting, workers and firms bargain over wages. The equilibrium size of the informal sector is an endogenous function of labor market fundamentals and institutions. We estimate the model using labor force survey data from Mexico and exploiting the...

April 14, 2022

Articles, Labor Market2022, Income, Informal Sector

14AprApril 14, 2022

Germany set for bumper pension hike amid inflation surge

German Chancellor Olaf Scholz's coalition Cabinet on Wednesday gave the green light to the largest hike in pensions in more than a generation. The decision was made against a backdrop of rampant inflation, with pensions in Germany adjusted each year based on the national average salary. It also comes after some pensioners received no increase last year as the coronavirus pandemic battered the economy. How big is the increase? Pensions in states that made up the former West Germany, where there was no...

April 14, 2022

News2022, Adequacy, Germany, Income

11AprApril 11, 2022

Wealth After Work Innovative Reforms to Expand Retirement Security

By William G. Gale, J. Mark Iwry, & David C. John Pensions and retirement saving plans have helped millions of households build financial security. But tens of millions of people have been left behind, without access to these wealth accumulation vehicles. For many others, the plans they have do not ensure financial security in retirement. The problems that underlie these failures can be addressed. This book proposes concrete, practical ways to make dependable retirement income accessible for all Americans—not just those...

April 11, 2022

Books, Pension design2021, Behavioral Science, Income, Public Policy, Risk

11AprApril 11, 2022

Heterogeneity in Household Spending and Well-being around Retirement

By Patrick Moran, Martin O'Connell, Cormac O'Dea, Francesca Parodi & Michigan Retirement and Disability Research Submitter. We study heterogeneity in spending patterns around the time of retirement. Using rich consumption data from the Panel Study of Income Dynamics, and exploiting within-household spending variation, we systematically classify households into groups characterized by differences in consumption transitions at retirement. We decompose the overall spending changes into the contribution made by different subcomponents of consumption. We find that the households that increase their...

April 11, 2022

Adequacy, Articles2021, Income, savings

May 2022

Zimbabwe: Low Pensions Force Workers to Resist Retirement

On the path to bigger income in the future – news in Latvia’s Pension Law

The LGBTQ+ Gap: Recent Estimates for Young Adults in the United States

April 2022

US. Inflation is taking a big bite from retirees’ pension income

UK. Workplace pension of £65,400 in public sector six times more than private average

Movements In and Out of Poverty at Older Ages: Evidence from the HRS

Labor Market Search, Informality, and Schooling Investmets

Germany set for bumper pension hike amid inflation surge

Wealth After Work Innovative Reforms to Expand Retirement Security

Heterogeneity in Household Spending and Well-being around Retirement