July 2022
27Jul

China faces largest retirement wave in next 10 years

It is estimated that in the next 10 years, an average of 20 million people will retire each year, according to a recently published article by Banyuetan, a journal under China’s Xinhua News Agency. According to mainland media, the first impact of the retirement wave is the significant decline of the working-age population. Peng Xizhe, Dean of the Institute of Aging at Fudan University, pointed out that in the tide of retirement, more than 20 million people will retire every year....

July 27, 2022
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27Jul

UK. Thousands of gig economy workers in line for improved labor conditions

While not a change in the law, business minister Jane Hunt said the guidance was “tidying up the rules” to help workers find out if they are being treated fairly by their workplace. It follows the landmark Uber Supreme Court judgment in February last year, which held that individuals in the gig economy qualify as workers. This entitles them to core employment protections including earning at least the National Minimum Wage as well as being given paid holiday leave and a...

July 27, 2022
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26Jul

Shifting Our Aging Society From A Burden To An Asset

Each year the World Economic Forum publishes its Global Risks Report, which aims to outline the biggest threats facing society in the year ahead. The 2022 edition features many common sights, including climate action failure, extreme weather, and biodiversity loss. Such catastrophic events often succumb to the so-called availability heuristic, whereby we're naturally drawn to the things we're familiar with. In the case of the kind of threats posed in the Global Risks report, these are all risks that...

July 26, 2022
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25Jul

China’s population to start to shrink before 2025: Global Times

China's population growth rate has slowed significantly and is expected to turn negative ahead of 2025, the state-backed Global Times reported, citing a senior health official. Birth data released late on Sunday showed that the number of new births in 2021 was the lowest in decades in several provinces. The number of births in the central Hunan Province fell below 500,000 for the first time in nearly 60 years, the Global Times said. Only China's southern Guangdong Province had more than...

July 25, 2022
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11Jul

Finns consider immigration best way to consolidate pension system – Survey

Raising the pension contributions of employees and employers was the second most popular means to consolidate the funding of pensions, with 34 per cent of respondents regarding it as a good or fairly good idea and 35 per cent as a bad or fairly bad idea. A little over a quarter (26%) of respondents voiced their support for and 37 per cent their reservations about taking on greater risks when investing pension funds. “Finns are somewhat surprisingly not supportive of...

July 11, 2022
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June 2022
28Jun

US. Gender gaps in retirement readiness and financial know-how persist, despite strides made by women in last 50 years

Despite the economic and professional gains made by women over the last 50 years, gender gaps persist — and not just in rate of pay. Retirement readiness and financial know-how are key areas with notable gaps, according to two studies recently released by the TIAA Institute. For example, among workers in TIAA’s system, men contributed a median $8,271 to their workplace retirement plan in 2020, compared with $5,994 for women. While that 27% gap is less than the 34% difference...

June 28, 2022
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17Jun

LGBT CEOs and stock returns: Diagnosing rainbow ceilings and cliffs

By Savva Shanaev, Arina Skorochodova & Mikhail Vasenin This study is the first to investigate the implications of lesbian, gay, bisexual, and transgender chief executive officers (LGBT CEOs) for stock performance, using an exhaustive sample of 26 LGBT publicly listed company CEOs since 2000 to document statistically and economically significant financial outperformance of LGBT-led firms. Stocks of companies with openly LGBT CEOs generate a monthly alpha of 0.69%-1.08%, robust to portfolio weighting schemes, estimation frequency, multi-factor asset-pricing models, factor multicollinearity,...

June 17, 2022
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17Jun

Aussie aged pensioners call for opportunity to work more hours

A growing number of Aussie seniors still working after retirement age are calling for the opportunity to work more hours without being penalised for it. A group of pensioners have told A Current Affair they're willing to help fill Australia's labour void, but the problem is that if they work too many hours, it will affect their pension. "If I work an hour over my 30 hours a fortnight, it changes my pension quite a bit," dementia specialist and senior Betty...

June 17, 2022
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01Jun

25% of Americans are delaying retirement due to inflation, survey finds

Americans’ finances are being squeezed as inflation pushes up prices on things such as rent, groceries and gasoline. As a result, one-quarter of Americans will have to delay their retirement, according to the BMO Real Financial Progress Index, a quarterly survey conducted between March 30 and April 25. Putting off retirement plans is mostly due to disrupted savings from increased prices, the survey found. Thirty-six percent of survey respondents have reduced their savings and 21% are putting away less for retirement...

June 1, 2022
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May 2022
20May

UK. People with disabilities ‘have pension savings worth third of average pot’

Pension savers with disabilities typically have savings worth only around a third of the average pot as they approach retirement, a study has found. People aged 60 to 64 with a disability have £47,980 saved on average, according to research by the Pensions Policy Institute. This is only around 36% of the average UK pension pot size of £130,928 – a difference of nearly £83,000. The research was commissioned by pension provider NOW: Pensions, which said there are just over four million...

May 20, 2022
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