October 2020

06Oct

UK launches scheme to help new COVID jobless back into work

The British government launched a new employment programme on Monday aimed at helping those left jobless due to the COVID-19 pandemic to get back into work. The Department for Work and Pensions said the Job Entry Targeted Support (JETS) scheme would be backed by a 238 million pound investment. The ministry said jobseekers put forward for the scheme would have access to tailored, flexible support to quickly get back into employment. This could involve specialist advice on how people...

October 6, 2020
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September 2020

28Sep

South Africa. Pandemic accelerates changes in retirement sector

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...

September 28, 2020
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15Sep

(Mis)Allocation Effects of an Overpaid Public Sector

By Tiago Cavalcanti, Marcelo Rodrigues Santos There is a large body of evidence showing that for many countries the structure of wages and pensions and the labor law legislation are different for public and private employees. Such differences affect the occupational choice of agents and might generate some type of misallocation. We develop a life-cycle model with endogenous occupational choice and heterogeneous agents to study the implications of an overpaid public sector. The model is estimated to be consistent...

September 15, 2020
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03Sep

US. COVID-19 economy pushing workers into early, involuntary retirement

The COVID-19 pandemic may have pushed millions of older workers out of the workforce prematurely. A report published earlier this month from the Schwartz Center for Economic Policy Analysis (SCEPA) at The New School showed that 2.8 million older workers have left their jobs since March — and ongoing economic turmoil coupled with poor health could make it difficult to resume their career elsewhere. Some may have already given up. Per the report, 38% of unemployed older employees stopped...

September 3, 2020
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01Sep

How can cities adapt to the needs of their aging populations?

Long before COVID-19 had us rethinking just about every aspect of how we live, demographers and experts on aging were already considering what the future will look like for the world’s cities. A decade from now, roughly 3 of every 5 people on the planet will live in cities, and that population is getting older than the urban dwellers of the past. On top of that, aging populations will double between now and the end of the century. Add...

September 1, 2020
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August 2020

14Aug

EIOPA finalises the regulation of the pan-European Personal Pension Product

Today the European Insurance and Occupational Pensions Authority (EIOPA) delivered to the European Commission a set of draft Regulatory and Implementing Technical Standards and its advice on Delegated Acts to implement the framework for the design and delivery of the Pan-European Personal Pension Product (PEPP). Read also Chilean Central Bank Measures Reduce Banks’ Risks from Pension Withdrawal EIOPA’s proposed legal instruments follow the objective to unlock the potential of the European personal pension market by setting the right incentives for...

August 14, 2020
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13Aug

Nearly half of young people have lost income due to the crisis, UN study finds

Some 42% of young people around the world, who were still working during the pandemic, have seen a drop in income as a result of the coronavirus crisis, a study by the United Nations’ labor body has found. Drew Gardiner, youth employment specialist for the UN’s International Labour Organization, told CNBC’s “Squawk Box Europe” on Wednesday that young people were in a “disadvantaged position” in the labor market even before the pandemic hit. This is partly because...

August 13, 2020
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July 2020

18Jul

World Population Prospects 2019

By Department of Economic and Social Affairs People, and thus populations, are at the centre of sustainable development. Each of the four global demographic “megatrends”– population growth, population ageing, migration and urbanization – holds important implications for economic and social development and for environmental sustainability. Timely and accurate population estimates and projections allow Governments to anticipate future demographic trends and to incorporate that information into development policies and planning. The 2019 revision of the World Population Prospects is the...

July 18, 2020
Aging, Books
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17Jul

Empty Planet

By Darrell Bricker, John Ibbitson An award-winning journalist and leading international social researcher make the provocative argument that the global population will soon begin to decline, dramatically reshaping the social, political, and economic landscape For half a century, statisticians, pundits, and politicians have warned that a burgeoning population will soon overwhelm the earth’s resources. But a growing number of experts are sounding a different alarm. Rather than continuing to increase exponentially, they argue, the global population is...

July 17, 2020
Aging, Books
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17Jul

Does the actuarial adjustment for pension delay affect retirement and claiming decisions?

By Devon Gorry, Kyung Min Lee, Sita Slavov We investigate the impact of more generous terms for delaying state pensions on claiming and labor supply in the United Kingdom using a 2005 policy change. First, we find that the more generous delay terms reduced the fraction of males receiving pensions at the earliest eligibility age and shortly after. While there are also post-policy changes in women’s claiming behavior, further investigation reveals that these changes do not coincide with the...

July 17, 2020
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