October 2024
25Oct

High-stakes pension plebiscite could turn Uruguay’s election in to its ‘Brexit moment’

Uruguayans vote for their next president on Sunday, but the election is set to be eclipsed by another ballot: a pension plebiscite that analysts have warned could cripple the nation’s finances. Along with choosing a new president, 30 senators and 99 deputies, the electorate will also vote on two referendums. The first – which comes in response to rising fears over organised crime and public safety – would allow nighttime police raids on homes. But it is the second that...

October 25, 2024
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25Oct

Vote to continue strike exposes Boeing workers’ anger over lost pensions

Boeing froze its traditional pension plan as part of concessions that union members narrowly voted to make a decade ago in exchange for keeping production of the company’s airline planes in the Seattle area The walkout has stopped production of the company’s 737, 767 and 777 jetliners, cutting off a key source of cash that Boeing receives when it delivers new planes Since going on strike last month, Boeing factory workers have repeated one theme from their picket lines:...

October 25, 2024
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21Oct

The problem of aging is intensifying in Korean rural areas. In particular, in the case of rice farme.

71.1% of rice farmers aged 65 or older majority of people in their 70s and older Rice consumption per person has decreased by 14.8 kg over 12 years. The problem of aging is intensifying in Korean rural areas. In particular, in the case of rice farmers, more than 70% of elderly farmers aged 65 or older were found. According to the "Rice Consumption Trend Analysis" published by the National Agricultural Cooperative Federation on the 21st, the proportion of farmers aged 65...

October 21, 2024
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21Oct

Can’t wait to give up work? Why some people are not the retiring type

Ageing populations require a shake up of our pension systems, but fair and effective changes require an understanding of older workers. Across Europe, raising pension ages is a necessary - yet incendiary - conversation. As life expectancies increase, so does the ratio of pensioners to workers, ultimately resulting in mounting pressure on state budgets. In countries where retirement reforms have sparked controversy, one argument continues to resurface. Raising the state pension age, many argue, can't be a 'one-size fits-all' approach. Due to disparities...

October 21, 2024
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18Oct

The Impact of Lump-Sum Retirement Withdrawals on Labor Supply: Evidence from Peru

By Carla Moreno & Sita Slavov  We examine the labor supply impact of a 2016 policy that allows retirementeligible individuals covered by Peru’s private pension system to receive retirement benefits as a lump sum rather than as an annuity. We present a theoretical model predicting that, for liquidity constrained workers, the lump sum option makes formal employment (requiring pension participation) more attractive relative to informal employment (not requiring pension participation); it also encourages early retirement. Using household panel data, we...

October 18, 2024
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18Oct

The world isn’t prepared for an aging population – but it’s actually a huge opportunity

By the year 2047, the global population will have more people in retirement age than young people The global population is aging, and no country, company or government is fully prepared to handle, and potentially benefit from, that demographic shift. The economic power wielded by older adults, already considerable in terms of their spending patterns, will only increase in the coming years, and the companies and regions that adapt to this growing market will be best positioned to succeed - and...

October 18, 2024
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17Oct

Can today’s pensions survive tomorrow’s longer lifespans?

The 2024 Mercer CFA Institute Global Pension Index (MCGPI) reveals the ongoing need for retirement system improvements globally, driven by declining birth rates and increasing longevity. The 16th annual report, released by Mercer, a business of Marsh McLennan, and the CFA Institute, highlights how pension systems are adapting. The Netherlands remains the top-performing retirement income system worldwide, with Iceland in second place and Denmark in third. Pat Tomlinson, Mercer’s president and CEO, emphasized the growing importance of retirement income systems as...

October 17, 2024
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14Oct

Europe’s population crisis could shave 4% off its GDP by 2040, Morgan Stanley warns, and the options to solve it aren’t good

Europe’s demographic challenges are becoming a ticking time bomb for the region’s economy, with Morgan Stanley delivering a grim prediction for its effects on GDP. Morgan Stanley says Europe’s aging population could shave 4% off the Eurozone’s GDP by 2040 as people live longer and birth rates fall. The bank projects a significant loss of GDP based on predictions that Europe’s working-age population will shrink by 6.5% by 2040, due to a reduction in the number of working-age people producing output...

October 14, 2024
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04Oct

Assessing Immigration Impacts in Developing Countries. The Case of Syrian Refugees in Lebanon

By Riccardo Magnani & Marie-Claude KAMAR This article analyzes the effects of low-skilled immigration in developing countries characterized by a large informal sector, high unemployment (especially among highly educated people), and low participation of women in the labor force. We use an OLG model to account for the general equilibrium linkages between the immigration shock, the level of wages and employment, the education choice, and the emigration choice made by natives. The model includes search and matching frictions in the...

October 4, 2024
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02Oct

US. Most older adults face ageism, and it’s taking a toll on their mental health

Discrimination against older people has become a pervasive part of American culture. Think birthday cards declaring someone "over the hill" and ads for "anti-aging" cosmetics. Most older adults say they experience ageism daily, according to a 2019 survey of more than 2,000 people between 50 and 80 conducted by the University of Michigan. Ageism, which includes stereotyping and discrimination based on age, is one of the most common forms of prejudice. A 2021 report from the World Health Organization found at least...

October 2, 2024
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