June 2024
03Jun

The grass isn’t greener for U.K employees as majority prefer to stay in their current jobs

Amidst a cost-of-living crisis, and global political unrest, UK employees are turning to their employers for a sense of security. A comprehensive survey by leading global advisory, broking and solutions company, WTW, found a majority (54%) of employees are choosing to stay with their employers, ending a period of intense job turnover and attraction and retention challenges for employers. This is a significant change from 2022 when only 45% of employees were committed to staying with their employers. Moreover, only...

June 3, 2024
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May 2024
14May

‘Cross border’ pension plans continue to grow as global instability rises

Demand for international pensions and savings vehicles is continuing to grow, beyond just expatriate communities, in order to protect local employee groups from increasing political and economic volatility, according to WTW. WTW, a leading global advisory, broking, and solutions company, has launched its latest International Pension Plan Survey, which covers 1028 International Pension and Savings Plans (IPPs and ISPs) with a membership of over 200,000 employees in total. The report found that the number of IPPs and ISPs being offered...

May 14, 2024
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14May

Experts warn ‘silver tsunami’ poses threat to the economy as over-65s are set to outnumber children by 2030

Seniors are set to outnumber children for the first time in American history within six years, as experts warn that the country is about to struggle with a dramatically aging population. The 'silver tsunami' has already seen the burden on working age people double since 1960 when there were six workers for every over-65. And millions now risk having no-one to help them as the poorly-paid care industry is squeezed out by better paid jobs in a tight labor market. Economists have been...

May 14, 2024
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13May

US. The Myth That Public Workers Don’t Care About Pensions

Although some may argue that pensions are no longer a relevant tool for recruiting and retaining public workers, the historical data and broader research show otherwise. However, with financial literacy being a significant challenge in the United States, it is critical that employers provide the necessary education around these benefits to maximize their potential in the battle to attract and keep talent. As pensions have become less common in the private sector, they have increasingly become a highly coveted benefit for current...

May 13, 2024
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10May

Middle-aged and Older Adult Employment and the Perceived Risk of Running Out of Money during COVID-19: A Dynamic Panel Data Analysis

By Andy Sharma  The coronavirus disease of 2019 (COVID-19) adversely impacted the health of middle-aged and older adults and altered their economic outlook. Several national polls revealed older adults felt stress about money and many reported difficulties in paying expenses during 2021. While such descriptive reports have raised awareness, peer-reviewed studies utilizing panel data can offer additional insight. As such, the purpose of this study was to contribute to this growing literature by examining the demographic, economic, and health factors...

May 10, 2024
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April 2024
19Apr

Job losses has Nigerians turn to pensions for lifeline

Pension savings have become an immediate lifeline for Nigerians as rising unemployment forced more people to draw on their balances for day-to-day expenses. This development has seen workers in both the public and private sectors who lost their jobs fall back on pension savings to survive current economic hardships. Data from the National Pension Commission shows that at the end of the fourth quarter of 2023, a total 10,307 Retirement Savings Account (RSA) holders, otherwise called contributors, requested to access 25 percent of their balances...

April 19, 2024
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15Apr

U.S. More people are working well past retirement age. It’s not easy

Hope Murray retired in 2013 after a 50-year career that ranged from game show producer to Hollywood party planner to casino executive. She settled into a life of golf, game nights and pickleball in her San Diego community, her daughter living nearby. Then things got more expensive. Gas was nearly $5 a gallon, medication costs were adding up, the grocery bill was increasing. So she downsized, stopped driving as much and waited longer between haircuts. But she could no longer afford some of...

April 15, 2024
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05Apr

The Effects of Environmental Distress on Labor Markets: Evidence from Brazil

By Danae Hernandez-Cortes & Sophie Mathes This article documents how environmental distress affects individual-level labor market outcomes in Latin America’s largest economy. We collect data on a broad range of environmental distress events namely heat waves, floods, fires, and droughts, and combine these with uniquely rich administrative information covering the universe of formal employment in Brazil from 2003 to 2017. We find heterogeneous labor effects in response to environmental distress. We find that heat waves disrupt employment, increasing retirement rates...

April 5, 2024
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March 2024
27Mar

Older Workers, Pension Reforms and Firm Outcomes

By Francesca Carta, Francesco D’Amuri & Till Von Wachter Using Italian matched worker-firm data, this paper quantifies the effect of an exogenous increase in older workers driven by an unexpected raise in statutory retirement ages on medium and large firms' input mix and economic outcomes. Data on lifetime pension contributions are used to calculate the expected additional number of older workers retained by each firm due to the pension reform. Instrumental variable estimates show an increase in older workers leads...

March 27, 2024
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25Mar

Nursing homes can’t meet the care needs of an aging population

Where are we going to get the workers to care for us? How are we going to pay them? Long-term care is one of the major challenges facing an aging society. Care can take the form of a nursing home, formal care provided in the community or home, or informal care provided by family or friends. KFF recently released a really nice summary of the state of play on the nursing home front in the process of describing a proposed rule...

March 25, 2024
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