Public Pensions Archives - Page 23 of 34 - Pension Policy International

31AugAugust 31, 2021

Benefits and Costs of Social Pensions in Sub-Saharan Africa

By Melis U. Guven & Phillippe G. Leite The lack of efficient social security systems, the presence of large informal sectors, and the pace at which the population is aging in some Sub-Saharan African countries are red flags warning of a potential long-term problem: that is, the inability of countries to provide old-age income security to all. Many adults in the region have difficulties accessing health care and other essential services, increasing their vulnerability and their likelihood of becoming impoverished...

August 31, 2021

Books2016, Africa, Public Pensions, Social Protection

24AugAugust 24, 2021

Nepalese Gurkhas end hunger strike over UK military pensions

Nepalese Gurkha military veterans have ended a 13-day hunger strike after the United Kingdom’s government agreed to discuss their longstanding grievances over pension rights. Thousands of Gurkhas, who are renowned as hard and loyal fighters, have served in the British army but until 2007, did not enjoy the same pay and conditions as British soldiers. Those who served before 1997 still receive only a fraction of their British counterparts’ salary as it was assumed they would return to Nepal after leaving...

August 24, 2021

News, Slider2021, Public Pensions, UK

02AugAugust 2, 2021

US. Three NYPD execs drawing both pensions, salaries: payroll review

Three top NYPD execs are collecting hefty pensions from their time on the force in addition to six-figure salaries for their current civilian roles — including the man tasked with keeping cops honest, Internal Affairs boss Joseph Reznick, a Post review has found. And despite carrying the lofty title, the trio isn’t even technically deputy commissioners by the letter of the City Charter, which the department has apparently flouted for years to swell its well-compensated executive ranks. The Post uncovered the...

August 2, 2021

News, Slider2021, Public Pensions, US

29JulJuly 29, 2021

Fair Pension Policies with Occupation-Specific Aging

By Volker Grossmann, Johannes Schünemann & Holger Strulik We discuss public pension systems in a multi-period overlapping generations model with gerontologically founded human aging and a special focus on occupation-specific morbidity and mortality. We examine how distinct replacement rates for white-collar and blue-collar workers and early retirement policies could be designed to provide a fair and aggregate welfare-enhancing public pension system. Calibrating the model to Germany, we find that a pension system that equalizes relative pension contributions and the relative...

July 29, 2021

Aging, Articles, Pension design2021, Germany, Public Pensions

26JulJuly 26, 2021

UK. Triple lock is far from the biggest pension issue on government’s plate

One of the realisations of reaching an age when you are beginning to plan the details of what to do when you finally stop work is how much those preparations are affected by decisions made by others, over which you have limited control. Chief among them is the issue of money. The income you retire on is a key determinant in what happens next: how comfortable your life will be and what compromises you need to make to get through...

July 26, 2021

News, Slider2021, Public Pensions, Regulation, UK

23JulJuly 23, 2021

Pensions and Timing of Retirement: The Case of the Public Service Pension Scheme in Uganda

By Kibs Boaz Muhanguzi Unsustainable defined-benefit public pension scheme, rising life expectancy, and high level of unemployment endanger the socioeconomic and political stability of Uganda’s economy. This research approaches the problem from labor supply point of view by: (i) analyzing the effect of the public service pension scheme on timing of retirement; (ii) investigating the required early retirement incentives that would increase employment in the public service; and (iii) determining the predictors of postretirement employment in the public service in...

July 23, 2021

Articles, Pension design2021, Africa, Public Pensions, Retirement Age, Uganda

22JulJuly 22, 2021

UK. Govt introduces public service pensions bill in parliament

The new legislation, introduced by Conservative peer Viscount Younger of Leckie, was first announced in the Queen’s Speech in May. The bill intends to fix the age-based discrimination against younger pension scheme members that stems from reforms introduced to public sector schemes in 2015. These reforms meant that while most members were moved to new career average revalued earnings schemes, individuals aged 44 years or more on April 1 2015 were allowed to stay in their original defined benefit schemes. The Court...

July 22, 2021

News, SliderPublic Pensions, Regulation, UK

16JulJuly 16, 2021

Public Pension Design and Household Retirement Decisions: A Comparison of the United States and Germany

By David Knapp, Jinkook Lee, Maciej Lis and Drystan Phillips Social Security provides retirement benefits to age-eligible workers and their spouses. Benefits are permanently increased if initial receipt is delayed. For benefits paid to spouses, these incentives reflect a complex interaction of the worker’s and spouse’s earnings histories, benefit claiming decisions, and age difference. We demonstrate that the benefit increment from delaying initial receipt of spousal and survivor benefits is substantial for some households. Past studies find that workers respond...

July 16, 2021

Articles, Pension design2021, Germany, Public Pensions, US

08JulJuly 8, 2021

Pensions for Whom? Redistribution of Public Pension with an Endogenous Income-Longevity Gradient

By Frederik Bjørn Christensen, Frederik Læssøe Nielsen A vast literature on public pensions shows that pay-as-you-go schemes may be preferable to funded schemes despite arguments of return dominance. A heavily cited reason for this is redistribution. One aspect that is rarely considered, however, is that the positive correlation between income and longevity may mitigate or even reverse redistribution. Augmenting a standard, heterogeneous-agent life cycle model with endogenous survival, we conduct a positive experiment and show that pension policy might not...

July 8, 2021

Articles, Pension design2021, Public Pensions, Public Policy

01JulJuly 1, 2021

Germany. Pension increase rolls out in July

Just in time before the grand coalition government ends for this legislative period, one of its prestige projects is reaching citizens, or more precisely pensioners. According to estimates by the Federal Ministry of Labor, around 1.3 million retirees will receive a supplement to their pensions at taxpayer expense. In the face of opposition from the CDU/CSU, the SPD pushed through the basic pension last year, which is intended to recognize the lifetime achievements of people who have worked all...

July 1, 2021

News, SliderCOVID-19, Germany, Public Pensions

August 2021

Nepalese Gurkhas end hunger strike over UK military pensions

US. Three NYPD execs drawing both pensions, salaries: payroll review

July 2021

Fair Pension Policies with Occupation-Specific Aging

UK. Triple lock is far from the biggest pension issue on government’s plate

Pensions and Timing of Retirement: The Case of the Public Service Pension Scheme in Uganda

UK. Govt introduces public service pensions bill in parliament

Public Pension Design and Household Retirement Decisions: A Comparison of the United States and Germany

Pensions for Whom? Redistribution of Public Pension with an Endogenous Income-Longevity Gradient

Germany. Pension increase rolls out in July