June 2020
19Jun

People in Germany are continuing to retire later and later

The average age at which people in Germany enter retirement has risen again over the past year, from 64,1 years in 2018 to 64,3 years in 2019. The age for women was particularly affected, mainly due to the Mother’s Pension II. Pension age for women rises sharply According to the German Pension Insurance Federation (Deutsche Rentenversicherung), the average age at which people start to draw their pensions has risen over the course of the last year. In 2018, the...

June 19, 2020
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May 2020
13May

UK. Women in lower-grade jobs hit by pension change ‘at greater risk of depression’

Women in lower-grade occupations forced to work up to six years longer because of changes to the state pension age are a third more likely to suffer debilitating, potentially permanent, depression, research has found. The changes to the state pension age (SPA) have also resulted in a widening gap in health between women from different occupations, according to a paper by academics at King’s College London. “Our research is important because we know that worsening mental health will lead...

May 13, 2020
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February 2020
28Feb

Dynamic Incentives in Retirement Earnings-Replacement Benefits

By Andrés Dean, Sebastian Fleitas, KU Leuven, Mariana Zerpa Many defined-benefit pension systems in developed and developing countries use a small set of final years of earnings to compute pension benefits. This provides dynamic incentives to report higher earnings in the final years of the career. In this paper, we document the responses of self-employed and employed workers to these incentives, using social security administrative records and household surveys from Uruguay. We implement event studies that leverage the...

February 28, 2020
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12Feb

UK. State pension warning: Retirement age set to increase even further in just two years

The state pension age for men and women is currently 65 but will increase to 66 by October 2020. The pension age will then rise to 67 between 2026 and 2028. However, it is “likely” the age will increase further as the Government will review the system from 2023. Speaking to Express.co.uk, Age UK policy expert, Sally West said: “The legislation has been passed to increase the state pension from 66 later this year. “There’s also a law that’s...

February 12, 2020
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05Feb

Super funds push for lower pension age for Indigenous Australians

Superannuation funds are agitating for lower retirement age thresholds for Indigenous Australians, warning lower life expectancy means they're not getting fair access to the pension and super. Major fund AustralianSuper, consulting firm PricewaterhouseCoopers, the Australian Institute of Superannuation Trustees and the Australian Council of Trade Unions all raised concerns about Indigenous access to funds in retirement as part of submissions to a government review Australian Bureau of Statistics data shows for the Aboriginal and Torres Strait Islander population born...

February 5, 2020
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January 2020

29Jan

New Zealand. Retirement Commissioner backtracks on call to raise pension age because Kiwis can’t afford it

New Zealanders are approaching retirement in poorer shape than their parents' generation did – and that means we cannot afford to raise the pension age, the Retirement Commissioner says. The commission has long argued that an increase in the age of eligibility for superannuation is needed because of the cost of providing it to an increasing number of older people. But now acting commissioner Peter Cordtz has issued recommendations that backtrack on that. In the commission's latest three-yearly Review...

January 29, 2020
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21Jan

Ireland. Restoring pension age to 65 would cost €620m a year, claims FF

Pulling plans to increase the State pension age will cost the incoming government up to €470 million a year, according to Government’s own figures, Fianna Fáil has said. And there will be a further €150 million bill annually if a transition pension is put in place to cover those forced out of their jobs at 65, the party’s spokesman on social protection Willie O’Dea said. The comments come as political parties come under pressure from voters over plans to...

January 21, 2020
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November 2019

22Nov

Calibrating Gompertz in Reverse: Mortality-adjusted (Biological) Ages around the World

By Moshe A. Milevsky This paper develops a statistical and methodological framework for inverting the Gompertz-Makeham (GM) law of mortality for heterogenous populations in a manner consistent with a compensation law of mortality (CLaM), to formally define a global mortality-adjusted (biological) age. It implements and calibrates this framework using rates from the Human Mortality Database (HMD) to illustrate its salience and applicability. Among other things, this paper demonstrates that when properly benchmarked, the global mortality-adjusted (biological) age of a...

November 22, 2019
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19Nov

Mexican president defends indigenous pensions plan

Mexico’s president on Monday defended a plan to provide pensions to indigenous people starting at age 65, compared with 68 for other Mexicans. Andrés Manuel López Obrador, who was elected last year after campaigning to help marginalized people, said those who question the idea should visit poor indigenous communities to see how residents live. He said indigenous seniors in poor areas are often in worse health than city-dwelling counterparts due to decades of hard labor and poor nutrition. “It...

November 19, 2019
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08Nov

Sharpening the Teeth of EU Social Fundamental Rights? The Case of State Pension Age in the UK

By Hans van Meerten In this contribution I want to discuss an important and very topical EU Law element of the judgment regarding two claimants (Delve and Glynn), backed by BackTo60, versus the UK Department of Work and Pensions (hereafter: Delve and Glynn). Claimants argued inter alia that the UK State Pension Age (SPA)was discriminatory. I want to focus here not if SPA is discriminatory, but whether the (SPA) falls in the ambit of EU law. Didn’t the UK...

November 8, 2019
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