Pension design Archives - Page 10 of 39 - Pension Policy International

06OctOctober 6, 2023

Understanding Trends in Hispanic and African American Retirement Preparedness in the US

By Edward Nathan Wolff Retirement income security refers to households’ ability to provide an adequate income stream during the period of their retirement from the labor force. Expected retirement income is based on four components: standard wealth holdings, defined contribution pensions, defined benefit pensions, and social security benefits. Using the Survey of Consumer Finances, I find that Black and Hispanic households made remarkable progress in terms of retirement income, poverty reduction, and replacement rates over 1989-2007. This was followed by...

October 6, 2023

Articles, System Characterization2023, Equality, Income, Pension design, US

06OctOctober 6, 2023

The Role of Disability Insurance on the Labour Market Trajectories of Europeans

By Agar Brugiavini & Petru Crudu This work documents the role played by disability insurance, typically part of a wider public pension provision package, on the labour market trajectories and retirement decisions. We will first employ a machine learning approach to estimate a Transition Probability Model able to uncover the most likely labour market histories and then evaluate the effects of policy reforms, including reforms to the eligibility for disability insurance benefits. The main contribution is the introduction of disability...

October 6, 2023

Articles, Labor Market2023, Europe, Pension design

29SepSeptember 29, 2023

Does a Requirement to Offer Retirement Plans Help Low-Income Workers Save for Retirement? Early Evidence from the OregonSaves Program

By Ngoc Dao This study examines the first implementation of the state-run retirement savings program in Oregon, known as OregonSaves, in 2017. It offers early insights into the substantial impact of this mandated program on retirement savings among previously uncovered private workers. Results from difference-in-difference models using SIPP data indicate a 12 percent increase in Individual Retirement Account (IRA) ownership among Oregon workers after the program’s roll-out. Notably, the study discerns significant gains for lower-income, single, and older workers, as...

September 29, 2023

Articles, Regulation2023, Income, Labor Market, Pension design

28SepSeptember 28, 2023

Pension Savings Are an Emerging UK Political Battleground

Nothing says an election is looming more than a raft of proposed policies that have been collecting dust on think tank shelves for years . UK Chancellor of the Exchequer Jeremy Hunt has been dropping heavy hints of reforms and enhancements targeted at Conservatives’ core voters — namely people who follow changes in pensions and savings. The underlying theme is Buy UK equities. Hunt will seek to address getting UK savers to stop hoarding cash and making it easier for...

September 28, 2023

NewsInvestment, Pension design, Pension Reform, UK

28SepSeptember 28, 2023

Experts urge social protection for gig workers amidst growing digital economy

The rise of gig work makes it important that workers be given social protection since they may not have access to pensions, health insurance or unemployment benefits. Till the world comes up with a perfect definition for gig work, experts at the Asia-Pacific Social Protection Week organised by the Asian Development Bank (ADB), between September 26-28 in Manila, Philippines, were of the opinion that it would do well to take care of gig workers. Not only it is the smart...

September 28, 2023

NewsAdequacy, Informal Sector, Pension design, Public Policy

15SepSeptember 15, 2023

Risk Aversion and Savings Behavior

By Antoine Bommier, Francois Le Grand & Lionel Wilner This paper investigates the relationship between lifetime savings and risk aversion. First, we take a theoretical approach in a two-period framework with a very general non-parametric model. We show that risk aversion reduces savings in the presence of mortality risk. We then verify the negative impact of risk aversion on savings in a numerical exercise, with a multi-period setting where mortality risk is calibrated on actual demographic life-tables. Finally, we check...

September 15, 2023

Articles, Savings2023, Pension design, Pension Management, Risk

15SepSeptember 15, 2023

Mobile Apps Emerge as a Critical Tool for Retirement Plan Providers

Amid ongoing market volatility, it’s little wonder that plan participants are keeping a close eye on their retirement account balances, and they increasingly are doing so via mobile apps. As a result, mobile apps have taken center stage as critical tool for retirement investors, according to J.D. Power’s 2023 U.S. Retirement Plan Digital Experience Study released Sept. 14. And while improved market performance has helped lift overall satisfaction with retirement plan digital tools, for firms that want to differentiate and increase customer...

September 15, 2023

NewsPension design, Pension Management, savings, US

12SepSeptember 12, 2023

Carving a Path For Fixed Income Through Shifting Scenarios

With market expectations that the Federal Reserve is close to the end of its interest rate hiking cycle with the likelihood of avoiding a U.S. recession, institutional investors are considering a wider set of opportunities across fixed income and credit to take advantage of attractive current yields. A selective investment approach may be a prudent choice, allowing investors to withstand prolonged inflationary pressures, uncertainty over slowing growth and persistent geopolitical risks. “From our fixed-income perspective, we are back in an...

September 12, 2023

NewsPension design, Pension Management

08SepSeptember 8, 2023

US. Traditional pension plans are pretty rare. But here’s who still has them and how they work

The phrase “pension benefits” may come up a lot in the next several days as negotiations between the United Auto Workers union and the Big Three automakers go down to the wire to avert a strike. But for most private-sector US workers, pensions disappeared long ago. In a traditional pension, employers contribute, invest and manage retirement funds for their workers, who then receive guaranteed monthly checks for life after they retire. But over the past several decades, employers have either...

September 8, 2023

NewsOccupational Pensions, Pension design, US

01SepSeptember 1, 2023

Contingency Fund: Individual Retiree Risk Management

By Jason Branning & Ray Grubbs The goal of this article is to provide an actionable framework for contingency planning for individual retirees through the modern retirement theory (MRT) perspective. Contingency planning encompasses a retiree’s risk management processes, techniques, and strategies, along with a choice architecture. Our goal is to provide insights that are mitigating to those conditions within longevity that can impair or impact a retiree’s ability to remain retired. We offer three risk categories—known, unknown, and unknowable—as an...

September 1, 2023

Articles, Savings2023, Pension design, Retirement Planning

October 2023

Understanding Trends in Hispanic and African American Retirement Preparedness in the US

The Role of Disability Insurance on the Labour Market Trajectories of Europeans

September 2023

Does a Requirement to Offer Retirement Plans Help Low-Income Workers Save for Retirement? Early Evidence from the OregonSaves Program

Pension Savings Are an Emerging UK Political Battleground

Experts urge social protection for gig workers amidst growing digital economy

Risk Aversion and Savings Behavior

Mobile Apps Emerge as a Critical Tool for Retirement Plan Providers

Carving a Path For Fixed Income Through Shifting Scenarios

US. Traditional pension plans are pretty rare. But here’s who still has them and how they work

Contingency Fund: Individual Retiree Risk Management