By Fajrin Andi Muhamad Pratama Indonesia’s main old-age insurance program, BPJS Ketenagakerjaan, is built almost entirely around formal employment-yet three in five Indonesian workers are informal, and only a small fraction of them are ever enrolled. National statistics capture the size of that gap well; they say almost nothing about what people actually do instead. […]

By Asli Demirgüç-Kunt, Leora F. Klapper & Georgios A. Panos Countries around the world face a retirement crisis brought on by aging populations, declining birthrates, and fiscal shortfalls. As a result, policy makers increasingly seek to understand retirement savings patterns, a crucial component of the safety net for the elderly. Drawing on the 2014 Global […]

By Puren Demirel This study reviews the labor-market effects of policies aimed at regularizing irregular migrants, with particular emphasis on amnesty programs and access to legal employment. Drawing on the existing literature and country experiences, it examines the mechanisms through which regularization may affect migrants, local workers, employers, and the broader economy. The analysis highlights […]

Milliman, Inc., a premier global consulting and actuarial firm, today released the midyear 2026 results of its Multiemployer Pension Funding Study (MPFS), an interim update to its annual study, which analyzes the funded status of all U.S. multiemployer defined benefit pension plans based on assumptions and data in the latest Form 5500 filings. As of […]

The average pension app is a decade behind the average banking app. Until that changes, engagement is structurally impossible, argues PensionPay’s Archie Pritchett. Open a workplace pension app on a Monday morning – if you even have one – and in 30 seconds you can see a balance updated several weeks ago, a projection figure […]

In the coastal city of Murakami, the 72-year-old widow relies on a monthly pension of ¥110,000 ($671). In April kerosene costs alone ate up more than a third of her budget, because of the Iran war. “When I don’t have money, I just have to put up with it because I have no other choice,” […]

For a half-century, Congress has been offering middle- and working-class Americans options for tax-advantaged individual retirement savings, largely to compensate for the disappearance of traditional pensions. But the transition from so-called defined benefit pensions to defined contribution accounts such as 401(k) plans and individual retirement accounts hasn’t worked for millions of Americans. Roughly 40% of […]