March 2018

When Mommies Become Nannies: The Effects of Parental Retirement Across Generations

By Yi Chen (Jinan University - Institute for Economic and Social Research) & Xiaoyun Zhang (University of New South Wales (UNSW) - ARC Centre of Excellence in Population Ageing Research (CEPAR)) This paper analyzes the effect of parental retirement on the next generation through intergenerational time transfer. We investigate a series of consequences, including women's time allocation, fertility decisions, labor force participation, and subjective well-being. The study uses data from the China Family Panel Studies (CFPS) and employs regression discontinuity...

Public Sector e-Recruitment Practices in Greece: The Case of the Supreme Council for Civil Personnel Selection (Asep) Website.

By Dimitrios Vyzirgiannakis (University of Crete) Although it is generally accepted that technology itself has no inherent value, there is no doubt that it is the key enabler of e-Government services. In regards to personnel recruitment, technology has undoubtedly revolutionized traditional methods. E-recruitment, generally defined as the process of utilizing new Information and Communication Technologies for candidate attraction, selection and communication management, has been extensively used in the private sector over the last two decades. The success of e-recruiting, especially...

The Time Has Come to Revisit Solvency Funding Rules

By Norma L. Nielson (University of Calgary - Haskayne School of Business) Canadians are not fond of hearing news about people losing their hard-earned pensions because their employer misused the money. The thought of some Working Joe or Jane being deprived of a pension, after a lifetime of working for a company, is naturally repugnant. That is why regulations around defined-benefit pension plans are designed to force employers to keep their pension funds sufficiently solvent. But there are many ways...

México. 5 opciones para invertir en tu retiro y tener una buena pensión

Si el Sistema de Ahorro para el Retiro sigue sin reformarse, los mexicanos cuyo ahorro es administrado por una Afore, enfrentarán una difícil realidad en su retiro, ya que su pensión será equivalente a solo el 26% de su último sueldo. Lo anterior en un escenario en el que la esperanza de vida de los mexicanos se ha incrementado. Para el 2050, el número de adultos mayores aumentará a 32.4 millones, desde 10.06 millones del 2016, de acuerdo con estimaciones...

Chile. Mercado apuesta a que desde mayo las AFP volverían a invertir en alternativos

El nueve de mayo de 2016 marcó un punto de inflexión en el mercado de las AFP. La ex Presidenta Bachelet, en una cadena nacional sostuvo su intención de modificar "las diversas formas de comisiones ocultas o las comisiones de intermediación" que pagan las administradoras de fondos de pensiones a los managers extranjeros y a los vehículos locales ( feeders ) para que estas puedan invertir en fondos de activos alternativos, que son instrumentos de inversión de alta rentabilidad,...

Colombia. Millonaria estafa de pensiones a Mintrabajo y funcionarios de Presidencia

La W conoció que la Fiscalía adelanta un operativo de captura en contra de una banda que habría estafado a más de 120 personas, a quienes engañaron con la promesa de obtener una mejor pensión a través del traslado de dineros del fondo privado a Colpensiones. Los investigados se hacían pasar por abogados que hacían trámites ante Colpensiones y cobraban millonarias sumas de dinero por este trámite que jamás se ejecutó. Estas personas son investigadas por el delito de estafa agravada,...

US. How ‘easy’ target-date funds can endanger your retirement

Americans love “set and forget it” products. Like rotisserie roasters and slow cookers that prepare delicious dinners while we’re miles from the kitchen, any approach that takes out complexity is beloved in our harried, overworked society. That’s why index funds are growing so rapidly. Why pay an adviser good money to pick stocks when the data show that the market SPX, -0.02% return slays actively managed funds? That’s good. But “set it and forget it” is also the driving force behind...

Australia. Pension pay rise kicks in but deeming rates disappoint retirees

PENSIONERS have received a pay rise this month, pushing their fortnightly rate above $900 for the first time. However, deeming rates are again unmoved, annoying hundreds of thousands of retirees who Centrelink judges to be earning more income than they actually are. Deeming — the threshold used by the pension income test when measuring financial assets such as cash or shares — is still at 1.75 per cent for the first $52,000 of a single pensioner’s assets and 3.25 per cent...

The ECB recommends delaying the retirement age in the euro area

The European Central Bank recommends delaying retirement age in eurozone to cope with ageing of population resulting from a low fertility rate, increased life expectancy and baby boom retirement. In Spain, this will increase progressively to reach 67 years in 2027. The ECB stresses that many pension reforms have been approved, more intense especially in countries that have undergone adjustment programs like Spain, he says. But in his latest economic bulletin he points out that more is needed. "These recent...

México. Trabajadores deberían hacer aportaciones netas al ahorro pensionario

En México, las aportaciones que hacen los trabajadores de 6.5% para el ahorro de su retiro no son netas, es decir, no se les ha descontado la comisión, lo que implica que aporten menos para solventar su pensión, comentaron expertos. “Lo que ahorra realmente el trabajador no es 6.5% de su salario base, sino una cantidad menor, ya que a esa aportación se le debe descontar la comisión que cobra cada administradora de fondos para el retiro (afore)”, indicó Gerardo...