November 2020

27Nov

Pension and Health Services Utilization: Evidence from Social Pension Expansion in China

By Shanquan Chen, Xi Chen, Stephen Law, Henry Lucas, Shenlan Tang, Qian Long, Lei Xue and Zheng Wang The proportion of people aged 60 years or over is growing faster than other age groups. The well-being older adults depend heavily on their state of health. This study evaluates the effects of pensions on older adults' health service utilization, and estimates the size of pension required to influence such utilization. Using a nationally representative survey, the China Health and Retirement...

November 27, 2020
Articles, Pension design, System Sustainability, , , ,
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09Nov

US. 5 Ways President Biden May Make Lasting Changes To Retirement

While President-elect Biden and a nation wait for President Trump to concede the election, focus turns to how a Biden administration will lead. Biden has put forth many policy initiatives, including significant changes to retirement savings and Social Security. His ability to implement his vision depends in large part on Georgia. Two Senate races are headed to run-off elections in January. It seems likely that at least one race will go to a Republican, giving the GOP a razor-thin...

November 9, 2020
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05Nov

Social Insurance, Demographics, and Rural-Urban Migration in China

By Neha Bairoliya, Ray Miller We develop a dynamic general equilibrium model to analyze the impact of social insurance policy and demographic changes on rural-urban migration in China. Quantitative analyses indicate that different social insurance programs not only have differential effects on net migration flows but also on the age and income distribution of migrants. Enrolling migrants in urban pensions discourages rural-urban migration at young ages and reverse migration in old-age. In contrast, urban health insurance incentivizes rural-urban migration...

November 5, 2020
Aging, Articles, System Sustainability, , ,
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October 2020

23Oct

Changes to Household Retirement Savings Since 1989

By Andrew G. Biggs This report uses two new data sources to provide insights on the evolution of retirement savings over the past three decades and how future retirees may fare. First, the Federal Reserve’s Survey of Consumer Finances and Distributional Financial Accounts (DFA) provide estimates of both household savings in retirement accounts and any benefits households accrued under a traditionally defined benefit pension. The DFA data show that, from 1989 through 2016, household retirement savings increased for every...

October 23, 2020
Articles, Savings, ,
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09Oct

Social Security Programs and Retirement around the World: Micro-Estimation

By Jonathan Gruber, David A. Wise Social Security Programs and Retirement around the World represents the second stage of an ongoing research project studying the relationship between social security and labor. In the first volume, Jonathan Gruber and David A. Wise revealed enormous disincentives to continued work at older ages in developed countries. Provisions of many social security programs typically encourage retirement by reducing pay for work, inducing older employees to leave the labor force early and magnifying the...

October 9, 2020
Books, Pension Management, ,
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September 2020

25Sep

Greece. Funded pension plan for more workers

The Labor and Social Security Ministry is examining the idea of granting younger workers – with few years of labor in the current social security system – the option of choosing to join the new funded auxiliary pension system, the very system that new entrants in the labor market must now enter by law. The same option, per the proposals examined at the General Secretariat for Social Security, will also be offered to any groups of workers who have...

September 25, 2020
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15Sep

The Quality of Employment (QoE) in Nine Latin American Countries: A Multidimensional Perspective

By Kirsten Sehnbruch This paper proposes a methodology for measuring the quality of employment from a multidimensional and public policy perspective in Latin American developing countries (Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Mexico, Paraguay, Peru, and Uruguay) using household and labor force survey data from 2015. The purpose of this paper is to demonstrate that the QoE can be measured using a multidimensional methodology that can inform policy makers about the state of their labor markets in a way...

September 15, 2020
Articles, Labor Market, , , ,
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11Sep

The Impact of Social Security on Pension Claiming and Retirement: Active vs. Passive Decisions

By Rafael Lalive, Arvind Magesan, Stefan Staubli We exploit a unique Swiss reform to identify the importance of passivity, claiming social security benefits at the Full Retirement Age (FRA). Sharp discontinuities generated by the reform reveal that raising the FRA while imposing small early claiming penalties significantly delays pension claiming and retirement, but imposing large penalties and holding the FRA fixed does not. The nature of the reform allows us to identify that between 47 and 69% of individuals are...

September 11, 2020
Articles, Pension design,
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August 2020

28Aug

COVID-19 Infections, Labour Market Shocks, and Subjective Well-Being

By Ferdi Botha, John P. Haisken-DeNew This is the first paper to present novel findings on how simultaneously (a) labour market shocks and (b) infections in the household, directly due to COVID-19, have impacted on life satisfaction and domain satisfactions. Using data from a world-wide online survey of almost 5,700 respondents across six countries, we estimate the associations of COVID-19-related labour market shocks and COVID-19 infection with life satisfaction and a range of domain satisfactions. Directly due to COVID-19,...

August 28, 2020
Articles, Labor Market, , , ,
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14Aug

Where Did the Pre-COVID World Stand on Protecting the Seniors?

By Natalia Milovantseva, PhD By 2050, the elderly population is expected to reach 2 billion, with 80% living in low- and middle-income countries. In today’s COVID-19 pandemic reality, income and health support for these older adults is a critical concern. What have the world’s countries been doing to ensure that their elderly do not live in poverty? Are there national policies to ensure their health needs are adequately met? How are the countries helping working adults who are responsible...

August 14, 2020
Aging, Articles, , , ,
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