Public Pensions Archives - Page 27 of 34 - Pension Policy International

08JanJanuary 8, 2021

China Pensions Outlook

By KPMG Welcome to KPMG’s fourth annual report tracking developments in China’s pension industry. China’s ageing demographics and the consequent challenges continued to draw attention during 2019 and triggered a number of fundamental changes. This report updates and builds on our research in China’s pension industry. In the report, we analyse why Pillar One will continue to be the most important and fastest- developing sector of the pension system in China. We also offer our view on what supporting...

January 8, 2021

Books, System Sustainability2021, Aging, China, COVID-19, Public Pensions

11DecDecember 11, 2020

US. 4 Public Pension Funding Strategies Besides Employer Contributions

Maybe it’s time for pension plans to explore other funding strategies aside from public employer contributions. Plan sponsors typically use the annual required contribution (ARC) or the actuarially determined employer contribution (ADEC) to meet public pension liabilities. But a number of states have found success experimenting with lesser-known methods. It could be useful for other public retirement programs to consider these strategies, according to a report released this week from the National Institute on Retirement Security. While resilient...

December 11, 2020

News, Slider2020, COVID-19, Funding, Public Pensions, US

03DecDecember 3, 2020

DB or not DB, what is the solution?

By Mark Daniel Mark Daniel takes us on a pensions journey, exploring various DB and DC plan designs and how these can help manage costs and possible risks. What a difference two years make. Boris Johnson is now the Prime Minister, Liverpool finally became Premier League Champions and, sadly (for me), Huddersfield Town are back down in football’s second tier. And then there is COVID-19. Who could have predicted any of the above? Admittedly, you didn’t need a...

December 3, 2020

Articles, Pension design, System Sustainability2020, Defined Benefit, Funding, Occupational Pensions, Public Pensions

03DecDecember 3, 2020

An Assessment of Affordability and Impact of a Social Old Age Pension in Rwanda

By Jean Bosco Mbarute In low-income countries and middle-income countries, the coverage of contributory pension scheme is low and even stagnant. At the same time, older people are less able to rely on family and community support as a result of growing urbanization and migration. Then low-income workers and the poor simply cannot save enough to prepare for their old age. As a remedy, many countries are considering or have already implemented various forms of retirement income transfers aiming...

December 3, 2020

Articles, Pension design, System Sustainability2020, Adequacy, Africa, Coverage, Public Pensions, Rwanda

27NovNovember 27, 2020

Continuous-time Optimal Pension Indexing in Pay-as-You-Go Systems

By Oriol Roch Ageing population and economic crisis have placed pay-as-you-go pension systems in need of mechanisms to ensure its financial stability. In this paper, we consider optimal indexing of pensions as an instrument to cope with the financial imbalances typically found in these systems. Using dynamic programming techniques in a stochastic continuous-time framework, we compute the optimal pension index and portfolio strategy that best target indexing and liquidity objectives determined by the government. A numerical example is provided...

November 27, 2020

Articles, Pension designDefined Benefit, Public Pensions, Social Security

23NovNovember 23, 2020

There’s a way to fix the $4.6 trillion U.S. public pensions mess — Canada shows us how

In Ernest Hemingway’s “The Sun Also Rises,” Mike is asked how he went bankrupt. His reply: “Two ways. Gradually, then suddenly.” He might as well be describing the prognosis for many of the nation’s 5,300 public pension funds, which hold $4.4 trillion in assets against what the Federal Reserve estimates to be $9 trillion in liabilities. Most U.S. public pensions plans were in surplus in 2000. Today, based on their own accounting – which differs from that of the...

November 23, 2020

News, Slider2020, Canada, Public Pensions, US

06NovNovember 6, 2020

US. 10 Ways to Close Public Pension Funding Gaps

The best way to close public pension funding gaps, according to the National Conference on Public Employee Retirement Systems (NCPERS), is to reform state and local revenue systems and close tax loopholes. “But that is a long road, and it is beyond the scope of responsibilities of pension trustees and administrators,” NCPERS said in a recent research paper called “Ten Ways to Close Public Pension Funding Gaps.” “However, we can help ensure that state and local governments are looking...

November 6, 2020

News, SliderPublic Pensions, US

05NovNovember 5, 2020

Pension Superpowers and Financial Markets in the Sino-American Century

By M. Nicolas J. Firzli In this primer published in the Feb. 2020 issue of Private Debt Investor (PDI), Nicolas J. Firzli, World Pensions Council, looks at how institutional asset owners will come to the fore in the new geo-economic context defined by renewed Sino-American "coopetition" across ASEAN countries, Australia, Eastern Europe and the MENA area, Brexit and the resurgence of one-nation conservatism in Britain, the slow, relative decline of the European Union and the secular rise of "Pension...

November 5, 2020

Articles, Pension design2020, Pension Management, Private Pensions, Public Pensions

05NovNovember 5, 2020

Latvia. Constitutional Court to decide on minimal old age pension amount

On Wednesday, 4 November, a court hearing was commenced during which it is planned to decide on the current old age pension amount’s compliance with the Constitution of the Republic of Latvia. In accordance with Europe’s Reviewed Social Charter, the minimal old age pension amount in Latvia should be at least EUR 341 a month, whereas currently it is EUR 80, as reported by the Ombudsman’s Bureau. Ombudsman Juris Jansons turned to the Constitutional Court over the non-compliance of...

November 5, 2020

News, Slider, Uncategorized2020, Europe, Latvia, Public Pensions

29OctOctober 29, 2020

The Changing Nature of Work and Public Pension Coverage: Evidence from the US and Europe

By Axel H. Börsch-Supan, Courtney Coile, Jonathan Cribb, Carl Emmerson and Yuri Pettinicchi We examine non-standard work and its impact on pension coverage via a case study of the US, the UK, and Germany. We find that the share of workers engaged in non-standard work has changed only modestly over time in these three countries, despite the popular perception that a more significant transformation in the nature of work may be underway. We discuss how non-standard work may affect...

October 29, 2020

Articles, Labor Market, System Sustainability2020, Coverage, Europe, Public Pensions, US

January 2021

China Pensions Outlook

December 2020

US. 4 Public Pension Funding Strategies Besides Employer Contributions

DB or not DB, what is the solution?

An Assessment of Affordability and Impact of a Social Old Age Pension in Rwanda

November 2020

There’s a way to fix the $4.6 trillion U.S. public pensions mess — Canada shows us how

US. 10 Ways to Close Public Pension Funding Gaps

Pension Superpowers and Financial Markets in the Sino-American Century

Latvia. Constitutional Court to decide on minimal old age pension amount

October 2020

The Changing Nature of Work and Public Pension Coverage: Evidence from the US and Europe