Pension design Archives - Page 9 of 40 - Pension Policy International

26FebFebruary 26, 2024

World Bank Urges Malaysia to Mandate Retirement Savings for Digital Platform Workers

In a world where the gig economy is not just an option but a necessity for many, the World Bank has cast a spotlight on Malaysia, urging the government to adopt a pioneering approach to safeguard its informal workers.At the heart of this recommendation is a call for mandatory contributions to retirement savings for those earning through digital platforms. This suggestion comes at a critical juncture, as the gig economy's productivity in Malaysia soared to RM1.33 billion in the third...

February 26, 2024

NewsInformal Sector, Malaysia, Pension design

30JanJanuary 30, 2024

Where Pension Incentive Pay Makes Sense — and Doesn’t

By Girard Miller To continue a theme I introduced in my last column, the compensation structures for public pension professionals will need a tune-up if we expect them to deliver superior investment returns. The first steps toward performance improvement don’t require a lot of money — just a willingness to bump up the salaries of those with proven investment IQs as demonstrated through relevant credentialing programs. Beyond that, however, it gets much trickier for the plans seeking to deliver optimal performance in...

January 30, 2024

News, OP Ed, Op-EdPension design, Pension Management

25JanJanuary 25, 2024

Savers at risk from UK’s pension ‘pot for life’ plan, industry leaders warn

Critics say government proposal for single, career-long retirement funds could leave individuals worse off A proposed shake-up of the UK’s pension market to give millions of workers the right to choose a retirement “pot for life” risks leaving savers worse off, industry leaders and unions have warned. In last year’s Autumn Statement economic plan, the government issued a call for evidence on a “lifetime provider” model, which would allow consumers to stick with one pension pot throughout their career. Currently employers are...

January 25, 2024

NewsPension design, savings, UK

24JanJanuary 24, 2024

The Ins and Outs of Final Salary Pensions

How do you envision your golden years? For many, it means traveling or just relaxing on sun-kissed beaches, free of the daily grind. Financial security, however, is crucial to a truly idyllic retirement. The golden ticket to that blissful state used to be a final salary pension, but unfortunately, it no longer exists. Today, the pension landscape has radically changed. In place of final salary plans, defined contribution plans like 401(k)s have become more common. As of November 2023, 22% of non-retirees...

January 24, 2024

NewsDefined Benefit, Pension design, Replacement Rate, Sustainability

19JanJanuary 19, 2024

Occupations Shape Retirement Across Countries

By Philip Sauré, Arthur Seibold, Elizaveta Smorodenkova & Hosny Zoabi We study how occupations shape individual and aggregate retirement behavior. First, we document large differences in individual retirement ages across occupations in U.S. data. We then show that retirement behavior among European workers is strongly correlated with U.S. occupational retirement ages, indicating an inherent association between occupations and retirement that is present across institutional settings. Finally, we find that occupational composition is an important determinant of aggregate retirement behavior across...

January 19, 2024

Articles, Labor MarketAging, Pension design, Retirement Planning

18JanJanuary 18, 2024

They flocked to build China’s cities. Now builders are aging with little retirement

About 30 years ago, construction worker Song Aimin believed a lifetime of labor could earn him a spot among China's growing urban middle class. He left his village in the northern Hebei province and headed to Beijing. "Back then, all the people in the villages wanted to leave to go find work in the cities. Laboring in the cities meant that you always ate well — at least, better than you ate back home," says Song, now 64 years old....

January 18, 2024

NewsChina, Coverage, Pension design

10JanJanuary 10, 2024

UK. Morningstar expects up to 300 funds to opt for sustainability label

Up to 300 funds are expected to assign themselves a sustainability label this year, as part of new rules from the UK’s financial regulator. In November, the Financial Conduct Authority (FCA) unveiled a labelling regime for investment products wishing to market themselves as considering environmental and social issues. It identifies four legitimate approaches, including targeting real-world impact and supporting companies that are transitioning to more sustainable practices. A report published today by research house Morningstar predicts that “about 300 UK open-...

January 10, 2024

NewsPension design, Pension Payout, US

10JanJanuary 10, 2024

Why Retirement Gets Better With Annuities

Everyone aspires to have a steady source of income after retirement that replaces as much as possible of their pre-retirement earning. But for many people, one big challenge in saving for that goal is to find the right financial product that accommodates their specific requirements, such as when they want to retire or how much more they need over and above their Social Security benefits. A new research paper by experts at Wharton and elsewhere solves that challenge with a...

January 10, 2024

NewsPension design, Pension Payout, US

09JanJanuary 9, 2024

UK Gov Aids Clients to Balance Pensions

Experts at the Government Actuary's Department (GAD) have been supporting clients as they work towards fully equalising pensions for their members. We have devised a modeller to assist in the process. Legal rulings The issue of guaranteed minimum pension (GMP) equalisation dates to May 1990 when the Barber judgment ruled on the matter. This applies to pensions including GMP accrued between 17 May 1990 and 5 April 1997. The 2018 legal case in Lloyds Banking Group Pensions Trustees Ltd v Lloyds Bank PLC and others, provided...

January 9, 2024

NewsPension design, UK

15DecDecember 15, 2023

Priorities for social security Global 2022 Trends, challenges and solutions

By International Social Security Association The report Priorities for social security – Global 2022: Trends, challenges and solutions presents a global perspective on social security developments and trends, challenges and innovations, based on the series of reports for Africa, the Americas, Asia and the Pacific, and Europe. The global report is presented in a new and interactive format, a digital, web-based publication that allows members of the International Social Security Association (ISSA) to easily navigate between sections of interest. The...

December 15, 2023

Books, Books, Reports, System Characterization2023, Healthcare, Pension design, Social Protection, Social Security

February 2024

World Bank Urges Malaysia to Mandate Retirement Savings for Digital Platform Workers

January 2024

Where Pension Incentive Pay Makes Sense — and Doesn’t

Savers at risk from UK’s pension ‘pot for life’ plan, industry leaders warn

The Ins and Outs of Final Salary Pensions

Occupations Shape Retirement Across Countries

They flocked to build China’s cities. Now builders are aging with little retirement

UK. Morningstar expects up to 300 funds to opt for sustainability label

Why Retirement Gets Better With Annuities

UK Gov Aids Clients to Balance Pensions

December 2023