When the pandemic struck Piura, a city in northern Peru, Daniel Zapata had a part-time job with a market-research firm. The 250 soles ($70) he earned each month paid his fees for a three-year course in business administration. The covid-19 recession put paid to all that. The firm closed, and Mr Zapata, who is 20 and lives with his parents and a sister, has dropped out of his course. The family received 760 soles in emergency aid from Peru’s...
As life expectancy increases it’s only going to become more difficult for Americans to pay for their retirement. When 401(k) plans emerged 40 years ago, not much thought was given to how workers would use the money they accumulated. It has only been fairly recently that the concept of “retirement income” has taken shape, mostly in response to workers expressing deep concerns about what their futures might look like. This report looks at new ways to address retirement income...
Purpose of Regulation 28 of the Pension Funds Act is to protect retirement savings. The speed at which the Covid pandemic came upon us, particularly for the employee benefits and retirement fund industry, has been likened by some to a wave of change that was necessary to propel business thinking and its applications forward. This has placed greater emphasis on the growing influence of a multitude of regulations, technologies and social ideas that were already in play before the lockdown took...
By Kirsten Sehnbruch This paper proposes a methodology for measuring the quality of employment from a multidimensional and public policy perspective in Latin American developing countries (Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Mexico, Paraguay, Peru, and Uruguay) using household and labor force survey data from 2015. The purpose of this paper is to demonstrate that the QoE can be measured using a multidimensional methodology that can inform policy makers about the state of their labor markets in a way...
The song “God Part II” on the album “Rattle and Hum” by U2 has the lyrics: “The rich get healthy, while the sick stay poor.” Bono sung those words in 1988. Since then, a number of researchers have tackled what exactly is the link between wealth and health, and why. At first glance, one would expect a simple explanation: people with more money live longer. Clearly such a relationship cannot be strictly linear, as people don’t fall dead if...
A global retirement survey conducted in 15 countries by Aegon has revealed that workers in Britain could be exposed to lifestyle-changing financial risk later in life as a result of the COVID-19 pandemic. According to the survey, workers in the UK are less likely to want to retire earlier than planned but almost a third of them have no back-up plan in case they are unable to do so due to ill health. Only about 30% have a...
By Anna Veremchuk, University of Tartu The aim of this paper is to study the gender pension gap in Europe based on the newest EU-SILC data from the 2018 wave. The contribution of the paper is twofold. First, it provides evidence on factors shaping the gender pension gap in a large number of EU countries. Second, it analyses the relationship between the pension gap and: (1) the coverage of occupational (second pillar) pensions and (2) gender attitudes. The main factor contributing to gender...
Superannuation should not replace a meagre government-funded pension for a meagre privately-funded one, Labor's financial services spokesman Stephen Jones will argue on Wednesday. He will also demand that the government release its long-awaited retirement income review to provide better information in the current debate on superannuation. In a speech to the Association of Superannuation Funds of Australia, Mr Jones will say that by 2065, there will be about three workers for every one retired person, down from a ratio of...
By Eduardo Loría The paper aims to prove that between 1992 and 2016, people in poverty as a proportion of the total population has not been reduced. In particular, food poverty (FP) represented an average of 22%, despite the fact that gross domestic product (GDP) per capita and GDP, social development expenditure and food programme expenditure (both as GDP proportion) grew by 0.96%, 1.9%, 2.7% and −17.4% on an annual average, respectively. Design/methodology/approach There are non-linear relationships between...
By Enriqueta Mancilla-Redón, Carmen Lozano Arizmendi The individual account pension system established by the Social Security Act 1997 shows that the contributions of beneficiaries invested in retirement fund managers have had negative returns and the investment instrument in which the contributions of the retirement savings system are invested are not known. The objective of this study is to analyze the contributions in AFORES of an SB2 classification beneficiary invested in SIEFORES and the performance they have generated that the...
