August 2024
26Aug

The Average Retirement Age in 2024: US vs. France

Do Americans really work themselves to death, as the media so often portrays? Likewise, do Europeans really avoid work like the plague? Of course not — but that doesn’t mean the retirement looks identical in countries like the US and France. While the average retirement age differs, so too do the benefit systems in each country. Consider the following facts as you compare retirement in the US to France, before booking a one-way ticket to the Continent. Also check out these reasons for using a financial advisor...

August 26, 2024
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July 2024
24Jul

China. Flexible model needed for raising the retirement age

The top authorities have said in a recent resolution issued after a top-level meeting that China will gradually raise the statutory retirement age in a prudent and orderly manner. As one of the important measures to deal with China's aging society, delaying the retirement age has been an issue of top concern since 2013 when it was first raised. Given that it is closely related to pensions, and also involves the fairness of different groups, the country needs to deal...

July 24, 2024
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23Jul

French leftists announce legislative steps to scrap Macron’s pension reform

-The leftist France Unbowed party announced legislative steps on Tuesday to try to scrap French President Emmanuel Macron's pension changes and reverse a rise in the legal retirement age to 64 from 62. The right-wing National Rally (RN) quickly offered its support for the legislation proposed by France Unbowed (LFI), potentially boosting its chances of winning parliamentary approval. Cancelling the pension reform, signed into law last year and aimed at protecting state finances and boosting productivity, is a key goal of...

July 23, 2024
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19Jul

The Impacts of Raising the Public Pension Eligibility Age on the Lifestyles of Elderly People: Evidence from Japan

By Shinya Inukai With many countries facing rapid population aging, the sustainability of public pensions has become a pressing issue. I evaluate the impacts, including both employment and time allocation, of public pension reform on the lifestyles of the elderly. In Japan, all residents aged 20 or older are covered by the public pension, with eligibility determined mechanically based on age. I focus on the reform raising men's eligibility age from 60 to 61 in 2001 and estimate its impact...

July 19, 2024
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19Jul

Pension Reforms, Expectations, and Labour Market Behaviour

By Tabea Bucher-Koenen, Irene Ferrari & Yuri Pettinicchi This study examines how expectations about institutional settings and their reform affect middleaged individuals’ labour market behaviour in the context of these reforms. We exploit time and cross-country variation in pension regulations in six European countries. We show that, following a 1-year increase in the pension eligibility age (SEA), individuals expect to claim their pensions around 3.6 months later on average - adjustments are larger among women compared to men. Individuals with...

July 19, 2024
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05Jul

Changing Retirement Incentives and Retirement in the US

By Courtney Coile Employment rates of older Americans have been rising since the 1990s. While the US is fairly unique among advanced economies in not experiencing any large-scale pension reforms in recent decades, there have been multiple changes to Social Security policy that have strengthened the incentive to work at older ages. This study builds on prior work documenting the changes in retirement incentives over time to explore the effect of these changes on retirement behavior, using over two decades...

July 5, 2024
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June 2024
28Jun

Retirement Guide For LGBTQ Americans

By John Schmidt & Benjamin Curry Heterosexual Americans have historically made more on average than their LGBTQ+ counterparts. But some studies suggest that the income gap has disappeared. In recent years, gay men have been earning 10% more than straight men with similar education, experience, and job profiles. Same-sex married couples have a higher median household income than opposite-sex married couples, according to the U.S. Census Bureau data. But the issue is more nuanced than these broad statistics suggest. Source Forbes 

June 28, 2024
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26Jun

UK. ‘I don’t know how I’m going to work until I’m 67’

With the general election fast approaching, many people are thinking about what changes they would like to see from the next government. Pensions and retirement age are two issues people are focused on, and voters in Somerset have spoken to the BBC as part of the Your Voice Your Vote campaign. Doug Workman, a 63-year-old builder from Chilcompton, near Radstock, wants the retirement age to be lowered as he is finding it "more difficult" to physically manage at work. "I don't know how...

June 26, 2024
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12Jun

UK. WASPI women promised they’ll receive ‘apology and proper compensation’

WASPI women have received a compensation pledge ahead of July's General Election. Department for Work and Pensions ( DWP ) campaigners have called for WASPI women to receive payouts after the Ombudsman's damning report earlier this year. In its election manifesto, the Liberal Democrats has stated: "The women affected by changes to their state pension age should receive an apology from the government and should be given proper compensation." Director of public affairs Becky O'Connor welcomed the measures to widen pension participation to gig economy...

June 12, 2024
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06Jun

Many Hongkongers must work past retirement age as they face US$300,000 shortfalls in their average pension savings: Schroders survey

The average Hongkonger faces a HK$2.4 million (US$300,000) gap between their expected post-retirement expenses and the money available in their pension funds, according to a survey released on Tuesday. As a result of the eye-watering shortfall, almost three quarters of people believe they will need to continue to work beyond the expected retirement age, according to the recent survey of 1,000 Mandatory Provident Fund (MPF) members carried out by Schroders. There is no official retirement age in Hong Kong, but most companies require staff to...

June 6, 2024
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