August 2021
06Aug

Revisiting Retirement and Social Security Claiming Decisions

By Neha Bairoliya, Kathleen McKiernan Why do individuals retire and claim their Social Security benefits at the age they do? Understanding the key drivers of these decisions has been an important topic of research as it can help guide policy discussions on the impact of potential reforms to the Social Security program. We revisit this crucial question by exploring new sources of heterogeneity in these decisions as well as novel mechanisms governing these trade-offs. Using data from the Health and...

August 6, 2021
Articles, Pension design, ,
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July 2021
02Jul

US. Public Retirement Benefits Not What They Used to Be

Defined benefit (DB) pension plans are a valuable benefit for employees—offering the option of guaranteed retirement income that is lacking in most defined contribution (DC) plans. Some private-sector employees have been envious of the pension benefits provided to public-sector employees. Over the years some outsiders have even argued that public pensions are too generous, perhaps without understanding that many public employees are required to put a significant percentage of their own pay into the plans. And there has been misunderstanding...

July 2, 2021
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June 2021
17Jun

Do adverse health shock s induce myopic financial planning?

By Jialu L. Streeter Health and financial planning have both been found to be crucial to long-term financial stability. However, the impact of a health shock on financial plan-ning horizon was not directly tested. This article traces the trajectories of the financial planning horizon before and after the occurrence of work-limitinghealth shocks, using longitudinal panel data from the Health and RetirementStudy. Results show that, during the 10 years following a health shock, individ-uals are 20 to 39% more likely to...

June 17, 2021
Articles, Savings, , ,
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11Jun

Public Pension Schemes in Seven European Countries: A Micro-Simulation Approach

By Hand Hansen The idea of this book is to provide insight into the composition and structure of public pension and early retirement schemes in seven European countries, Denmark, Sweden, Finland, Great Britain, Germany, the Netherlands and Italy. The component and structural analyses are based on micro simulation models, which, after validation of the models, makes it possible to perform a great number of precise calculations in a very short time and to present the results in graphical form, close...

June 11, 2021
Books, System Sustainability, , ,
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11Jun

How Does Social Security Reform Indecision Affect Younger Cohorts?

By John B. Shoven, Sita Slavov, John G. Watson The Social Security trust fund will be exhausted in the early 2030s. The U.S. government will need to make a choice about how to address the impending trust fund exhaustion, but it is unclear what it will choose to do. This indecision leaves young and middle-aged workers not knowing whether they will face Social Security benefit cuts, payroll tax increases, or an increase in the full retirement age. This uncertainty about...

June 11, 2021
Articles, Pension Reform, Regulation, , ,
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07Jun

India. Punjab doubles social security monthly pension

Punjab is all set to hike the social security monthly pension from Rs 750 to Rs 1500 from July 1. A notification has been issued by the social security, women and child development department in this regard. An official spokesperson of the department said that the notification has paved way for doubling the pension for old age, handicapped persons, widow and destitute women besides dependent children in line with state government's commitment made during the budget session this year to ensure...

June 7, 2021
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04Jun

Strategy for the Mexican Pension System

By Gabriel Martinez The concepts of benefit adequacy and sustainability are used to lead the discussion to-wards holistic pension reform. The required strategic elements are presented, the reforms underpinning the existing pension system are reviewed, and the evolution of the main variables in a set of reference countries is detailed. The review to other countries serves to identify key points of discussion, lessons and innovative elements. Essential reform proposals are presented. Source: SSRN 242 views

June 4, 2021
Articles, Pension design, System Sustainability, , ,
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May 2021
28May

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 Market, ,
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28May

Differences and Similarities in Patterns of Society Ageing in the European Union

By Denisa Kočanová, Viliam Kováč, Jan Buleca Population ageing is a demographic problem, which emphasises the need to be interested in the lives of the most vulnerable group–the elderly. The paper investigates the ageing process and similarity of selected countries in the European Union. The EU Member States were assessed and assigned to appropriate clusters according to several indicators related to the areas that affect the lives of the elderlies, namely health status, labour market conditions, and financial security. We...

May 28, 2021
Aging, Articles, , ,
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24May

Bulgaria. Average Salary shows significant growth and pensions with it

The average salary registered over 10 percent growth year-on- year.On the other hand, the share of remuneration from work in the overall household budgets has shrunk, while the share of incomes from pensions and social benefits has grown. Despite the reported growth of the average salary up to BGN 1,500, this does not apply to all sectors of the economy. Traditionally, the highest incomes are in the information and communication technologies and in the health sphere - due to the...

May 24, 2021
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