By Sebastian Köhne I study life-expectancy inequality in a Mirrleesian life-cycle framework with pension-linked fiscal externalities and private retirement saving. Heterogeneous longevity affects optimal redistribution by changing both the expected fiscal cost of pension benefits and the mapping from disposable income into social marginal welfare. I derive an ABCD optimal tax formula that incorporates these […]

By Clara Andresciani, Debora Di Gioacchino & Laura Sabani This paper revisits the “decongestion effect” argument, according to which greater reliance on privately financed healthcare relieves pressure on public services. We develop a probabilistic voting model in which individuals, who differ in income, may purchase tax-deductible private health insurance, thereby gaining access to private care […]

By Xueyao Que, Zhen Wang & Chu Chen Against the backdrop of rapid population ageing and the ongoing expansion of China’s multi-tiered pension insurance system, understanding how to promote household risk investment has become increasingly important for fostering the development of the silver economy and improving household wealth allocation. Using data from the 2019 China […]

Now that most corporate pensions are materially stronger than they were prior to the Global Financial Crisis, investors are arguing that these plans can afford to take on more return-seeking assets — specifically, equities. For many corporate plans, funded status has improved, asset allocations have long since been substantially de-risked, hedge ratios are higher, and […]

Defined benefit (DB) pension schemes are increasingly pursuing different endgame strategies as funding levels improve, according to research from the Pensions Management Institute (PMI) and Schroders. The study revealed that while 45 per cent of schemes were targeting a buy-in or buyout within the next decade, a third expected to run on indefinitely, 18 per […]

Consistent employment and regular saving have long been important foundations of retirement security, but many workers continue to face competing financial demands that can make it harder to save, according to survey results that Goldman Sachs Asset Management released last week. Many respondents are employed, contributing to retirement plans and doing what conventional wisdom tells […]

The federal government has begun implementing the newly approved pension rates following the adjustment arising from the new National Minimum Wage. According to a statement by the Public Relations Officer of the Military Pensions Board, Squadron Leader Aliyu Mohammed, the applicable arrears had also been processed and will be paid into the accounts of all […]