Retirement Age Archives - Page 16 of 21 - Pension Policy International

13JulJuly 13, 2021

France. Macron confirms he will pursue Pension Reform

French President Emmanuel Macron has announced a series of economic measures, looking beyond the pandemic, although the much-anticipated pensions reform will be delayed until Covid is "under control". Obligatory vaccines and the extension of the health pass made the headlines following Macron’s live TV address on Monday evening, but the President also sketched out his vision for France’s post-Covid economy. Some of the measures he announced represent a return to the priorities he set at the beginning of his tenure, while...

July 13, 2021

News, Slider2021, France, Pension Reform, Retirement Age

08JulJuly 8, 2021

Delay the Pension Age or Adjust the Pension Benefit? Implications for Labor Supply and Individual Welfare in China

By Yuanyuan Deng, Hanming Fang, Katja Hanewald, Shang Wu We develop and calibrate a life-cycle model of labor supply and consumption to quantify the implications of alternative pension reforms on labor supply, individual welfare, and government budget for China’s basic old-age insurance program. We focus on urban males and distinguish low-skilled and high-skilled individuals, who differ in their preferences, health and labor income dynamics, and medical expense processes. We use the calibrated model to evaluate three potential pension reforms: (i)...

July 8, 2021

Aging, Articles, Labor Market, Pension design2021, Adequacy, China, DB Pensions, Income, Pension Reform, Retirement Age

07JulJuly 7, 2021

Retirement for 45-Year-Olds May Vanish in Saudi Pension Reform

Saudi Arabia is considering revamping the kingdom’s pension system to require citizens to work longer and contribute more, another hit to living standards that could undermine public support for Crown Prince Mohammed bin Salman’s efforts to reshape the oil-reliant economy. Read also The slow-burn crisis inside Ukraine’s pension system The government -- faced with an estimated actuarial gap of 800 billion riyals ($213 billion) at the state-controlled pension fund -- is weighing proposals to increase the retirement age, according to three...

July 7, 2021

News, Slider2021, Retirement Age, Saudi Arabia, State Pensions

01JulJuly 1, 2021

Spain. Escrivá Advances A Small Adjustment In Pensions Of The Baby Boomers

Escrivá advances a “small adjustment” in the pensions of the ‘baby boomers’. According to the minister, they will be able to choose between adjusting or delaying retirement. The new equity mechanism will replace the sustainability factor. Escrivá indicates that the pension reform will come into force “at the end of the year”. Read also France. Macron Weighs Pension Reform Before Bastille Day The implementation of the new intergenerational equity mechanism will mean “a small adjustment” in the pension of the generation...

July 1, 2021

News, Slider2021, COVID-19, Retirement Age, Spain

23JunJune 23, 2021

Ireland. Reducing pension age from 66 to 65 would cost €127m

Sinn Féin expects other parties and the public to judge them on “what they say they will do if they were in government in the south not what they actually do when they are in Government in the North,” Minister of State Damien English has said. Mr English made the claim during a Dáil debate on a Sinn Féin motion calling for calling for the Government to offer people the choice to retire at 65 if they wish. The pension age...

June 23, 2021

News, Slider2021, Ireland, Retirement Age

18JunJune 18, 2021

US. Required IRA, 401(k) withdrawals would start at age 75 under congressional proposal. Here’s who would benefit

The age when older Americans must start making withdrawals from retirement accounts could change yet again. Under a provision in proposed retirement legislation pending in Congress, required minimum distributions, or RMDs, would start at age 75 by 2032, up from age 72 — which only took effect last year after the 2019 Secure Act raised it from age 70½. The proposed adjustment would generally not impact most retirees: The majority — 79.5%, according to the IRS — take more than their...

June 18, 2021

News, SliderAdequacy, Retirement Age, US

10JunJune 10, 2021

Switzerland raises retirement age for women to 65

At Switzerland Women should work up to age 65 in the future. This was decided by the National Assembly, the second chamber of Parliament, after intense discussion. Her retirement age was previously 64 years. Read also Kenya. Pension payments fast-tracked as Treasury proposes stiffer measures The move aims to bring financial stability to the State Pension Fund (AHV) through 2030. The Greens and Social Democrats spoke unanimously against it and demanded that the National Bank’s profits be used instead to provide...

June 10, 2021

News, SliderRetirement Age, Switzerland

10JunJune 10, 2021

Angela Merkel – Germany’s Scholz rejects further hike of retirement age to 68

Angela Merkel – Germany’s Scholz rejects further hike of retirement age to 68 Olaf Scholz, German Finance Minister and Chancellor candidate of the Social Democratic party SPD for the upcoming September general elections speaks during an interview with Reuters at the Federal Ministry of Finance in Berlin, Germany June 2, 2021. REUTERS/Annegret Hilse German Finance Minister Olaf Scholz said on Tuesday a proposal by economic advisers to raise the retirement age further to 68 was wrong and that citizens could rely...

June 10, 2021

News, Slider2021, Germany, Retirement Age

28MayMay 28, 2021

Trends in Labor Supply of Older Men and the Role of Social Security

By Zhixiu Yu The labor supply of older men increased from the 1930s to the 1950s cohort. I estimate a structural model that fits the participation and hours worked by the 1930s cohort well. The observed policy changes in normal retirement age, the earnings test, and delayed retirement credits explain 73.4% and 88.7% of the observed rises in labor force participation and hours worked by the 1950s cohort. Additional policy experiments suggest that postponing retirement age have little effect on...

May 28, 2021

Aging, Articles, Labor Market2021, Retirement Age, Social Security

13MayMay 13, 2021

Aging and Wages of Older Workers in Japan

By Quoc Hung Nguyen We first theoretically argue that labor force aging leads to a fall in the relative wage of older workers based on the Tinbergen's labor supply-demand framework. Using data from Japan's Basic Survey on Wage Structure and Population Census across 47 prefectures, we then estimate that a 10% increase in the relative number of workers aged 55 and older leads to a fall in their corresponding relative wage in a range of 3.5% to 4.3%. This equivalently...

May 13, 2021

Aging, Articles, Labor Market2021, Income, Japan, Retirement Age

July 2021

France. Macron confirms he will pursue Pension Reform

Delay the Pension Age or Adjust the Pension Benefit? Implications for Labor Supply and Individual Welfare in China

Retirement for 45-Year-Olds May Vanish in Saudi Pension Reform

Spain. Escrivá Advances A Small Adjustment In Pensions Of The Baby Boomers

June 2021

Ireland. Reducing pension age from 66 to 65 would cost €127m

US. Required IRA, 401(k) withdrawals would start at age 75 under congressional proposal. Here’s who would benefit

Switzerland raises retirement age for women to 65

Angela Merkel – Germany’s Scholz rejects further hike of retirement age to 68

May 2021

Aging and Wages of Older Workers in Japan