February 2018

05Feb

The UK’s pensions timebomb: which companies have the biggest black holes?

If you ask experts what the scariest thing about the pensions black hole it is that no one knows how big it is. Following the collapse of Carillion, the Prime Minister said there would be “tough new rules for executives who try to line their own pockets by putting their workers’ pensions at risk.” In February last year, a green paper was issued calling for views on giving the Pensions Regulator the power to issue “substantial fines on companies for...

February 5, 2018
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05Feb

Retirement Risks: How To Plan Around Uncertainty For A Successful Retirement

By por Jamie P. Hopkins Visualizing your retirement by closing your eyes and thinking of palm trees and sunshine is easy. Planning the correct steps to get there is an altogether different task. Author Jamie Hopkins writes, “Retirement planning is like shooting a moving target in the wind. Your retirement goals will continue to evolve throughout your life, while the tools, laws, risks and techniques available to you will also continue to change over time.” Because of these factors, being proactive...

February 5, 2018
Books
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05Feb

The Retirement Policy Challenges and Opportunities of Our Aging Society

By Professor United States Congress,‎ United States House of Representatives &‎ Committee On Ways and Means The retirement policy challenges and opportunities of our aging society: hearing before the Committee on Ways and Means, U.S. House of Representatives, One Hundred Ninth Congress, first session, May 19, 2005. Read more HERE

February 5, 2018
Books
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05Feb

Restructuring Retirement Risks (Pension Research Council Series)

By David Blitzstein,‎ Olivia S. Mitchell & Stephen P. Utkus This book highlights the importance of retirement security as a major policy concern of our time. A generation of "Baby Boomers" is on the verge of retirement, yet pension systems confront crushing challenges, and policymakers seek direction. The authors set their sights on employees' needs and expectations, employers' intentions and realizations, and policymakers' efforts to resolve the many challenges. Despite the fact that retirement systems face deep stresses exacerbated...

February 5, 2018
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05Feb

Parents with an Unemployed Adult Child: Labor Supply, Consumption, and Savings Effects

By Kathryn Anne Edwards (RAND Corporation) & Jeffrey B. Wenger (RAND Corporation; American University - School of Public Affair) The risk of labor market, health, and asset-value shocks comprise profound retirement savings challenges for older workers. Parents, however, may experience added risk if their children experience adverse labor market shocks. Prior research has shown that parents support their children financially through an unemployment spell. In this paper, we also provide evidence of financial support from parents and investigate if this...

February 5, 2018
Aging, Articles, Labor Market, ,
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05Feb

A Framework for Analyzing Defined Benefit Pension Insurance: The Survivor Benefit Plan for Veterans

By William W. Jennings (U.S. Air Force Academy - Department of Management), Jeff Merrell (University of Colorado at Boulder - Leeds School of Business) Thomas O'Malley (U.S. Air Force Academy - Department of Management) & Brian Payne (US Air Force Academy) Millions of defined benefit pensioners must select a pension insurance method. We present a framework for making this decision within the context of US military veterans’ Survivor Benefit Plan (SBP). Federal government subsidies generate a positive expected net payout...

February 5, 2018
Articles, Pension design, Regulation, , ,
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05Feb

Long-Run Saving Dynamics: Evidence from Unexpected Inheritances

By Jeppe Druedahl (University of Copenhagen - Department of Economics) & Alessandro Martinello (Lund University - Department of Economics; Danish National Institute of Social Research (SFI)) We exploit inheritance episodes to provide novel causal evidence on long-run saving dynamics. For identification, we combine a panel of administrative wealth reports with the unexpected timing of sudden parental deaths. After inheritance, net worth converges towards the path established before parental death, and convergence is faster for liquid assets. Using a generalized structural...

February 5, 2018
Aging, Articles, Savings, Slider-Left,
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02Feb

France and Germany push back on European pension plan

The document, discussed this week by EU member states experts, aims to influence negotiations on the future pan-European personal pensions product, one plank of the capital markets union plan. France and Germany have pushed back on two big features of the proposals. Read More: Global Capital

February 2, 2018
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02Feb

Brazilian court orders arrest of ex-chief of BNY Mellon Brazil unit in corruption probe

A federal court on Thursday ordered the arrest of the former chief executive officer of Bank of New York Mellon Corp’s unit in Brazil, a source with knowledge of the matter said. The court in Brasilia issued the order to detain José Carlos Xavier de Oliveira, said the source, who spoke on condition of anonymity. The court declined to comment. All proceedings are under seal. BNY Mellon declined to comment on the arrest order. The CEO of Brazilian state development bank BNDES,...

February 2, 2018
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02Feb

UK. Number of millionaires rises by a third as pension wealth grows

The number of millionaires in Britain has risen by a third driven by increasing pension wealth, figures from the Office for National Statistics show. The most recent figures, from July 2016, show that there are 3.5m households in the country with more than a million pounds' worth of assets, up from 2.75m in the 2012-14 figures. Overall average wealth rose by 15 per cent to £259,400 by July 2016, though the rising cost of living is not taken into account. Read More: The...

February 2, 2018
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