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 […]

The AI rally is disrupting traditional diversification strategies at pension funds and sovereign wealth funds, with risk spreading beyond technology stocks into private equity, corporate bonds, and infrastructure. According to ChainCatcher, institutional investors are now re-evaluating their overall portfolio exposure to AI. Goldman Sachs estimated that AI infrastructure-related companies account for about 40% of the […]

National Treasury has proposed a centralised framework for administering South Africa’s estimated R88 billion in unclaimed financial assets, including retirement benefits. The discussion paper outlines a system where a central administrator would manage tracing, record-keeping and claims through a single public portal, with assets potentially transferred to the Corporation for Public Deposits. South Africa Employment […]

Australia forecast on Monday that deaths would exceed births for the first time in the 2060s, a demographic shift ​with far-reaching implications for an economy grappling with an ageing population, declining ‌births and cuts to immigration. For decades, Australia has sustained population growth by relying on immigration to offset low birth rates. But with immigration […]

The committee, chaired by Labour MP Debbie Abrahams, announced the inquiry this week. It will explore potential reforms to the auto-enrolment system “to help ensure fair employer and employee contributions to secure a decent retirement income for low earners”, according to a press release. The inquiry will run concurrently with the work of the Pensions […]