By Carolina Salva & Tim Alexander Kroencke We survey 28 leading Swiss pension fund consultants and asset managers to understand the factors and their ranking driving institutional asset allocation decisions. The risk tolerance of pension fund boards, target returns, and risk-free rates emerge as the most influential factors, while traditional portfolio theory predictors such as […]

By Burkhard Heer & Mark M. Trede We develop a medium-scale overlapping-generations model with endogenous labor supply and skill premium to study optimal income redistribution using progressive labor income taxes and pensions. The model is calibrated to the four countries USA, Great Britain, Italy and Germany which differ substantially in their tax and pension systems, […]

By Peter A. Diamond Public pension systems are long-term social contracts operating under persistent economic, demographic, and political uncertainty. Periods of turbulence, marked by financial shocks, changes in longevity, and shifting labour markets, test the capacity of pension institutions to adapt while maintaining adequacy, equity, and legitimacy. Building on earlier joint work on pension economics […]

Norway has held on to the top spot in a global measure of retirement security, even as inflation, government debt and aging populations make preparing for retirement harder in much of the world. The country ranked first for a second consecutive year in Natixis Investment Managers’ 2026 Global Retirement Index, which compares retirement conditions across […]

New York City Comptroller Mark Levine unveiled a plan to steer billions of dollars into private markets, characterizing the move as a shift designed to help the investor meet its climate-related goals while safeguarding returns. The Comptroller’s Office’s Bureau of Asset Management said the proposal targets three of the City’s public pension funds: New York […]

A thinktank linked toeform UK  Rhas called for the abolition of the state pension and £75bn worth of sweeping tax cuts in a “radical” report likely to influence the party’s platform for the next election. The Centre for a Better Britain’s (CFABB) report – which also calls for weaker rules for UK banks and Trump-style investment […]

A 10 percent allocation to any one of five private market asset classes lifted the mean annual Sharpe ratio of a modelled target-date fund above an equities-and-bonds baseline over a 40-year accumulation period. Private markets in retirement plans: Returns, risks, and the importance of plan design, published in September by the CFA Institute Research and […]