admin, Author at Pension Policy International

13NovNovember 13, 2017

España. ¿Qué reformas se han aplicado en otros países para mantener la sostenibilidad del sistema de pensiones?

El intenso descenso de la tasa de fecundidad hasta situarse por debajo de los niveles de reemplazo generacional en muchos países y, al mismo tiempo, el incremento de la longevidad y la esperanza de vida han hecho saltar las alarmas no sólo en España sino en otros estados del mundo. Con la intención de garantizar la sostenibilidad financiera de los sistemas públicos de pensiones, en los últimos años se han puesto en marcha diferentes reformas: algunas de mayor calado a...

November 13, 2017

NoticiasEspaña

13NovNovember 13, 2017

UK and US ‘must learn from poor countries’ to solve ageing crisis

The ageing crisis facing Britain, the US and other wealthier nations could be partly addressed by adopting initiatives being developed in poorer countries, experts say. Low- and middle-income countries have been forced to be “innovative and ingenious” in finding low-cost and effective solutions for their growing elderly populations. Some of the initiatives include: Devoting an entire city in Chile to experimenting with elderly care. Increasing involvement of older people in democracy through old people’s councils in Brazil. Training armies of volunteers in elderly...

November 13, 2017

News, SliderUK, US

13NovNovember 13, 2017

The State of the Nation: Filling the gaps in Malaysia’s pensions framework

MALAYSIAN employers can do more to help their employees prepare for retirement and play a larger role in building up a more sustainable pension programme here, says global human resources consultancy Mercer. While the existing pension infrastructure has solid foundations, there are gaps to address to ensure the longer-term sustainability of the system moving forward, according to Hash Piperdy, CEO of Mercer Malaysia. “While it feels like some of these problems are many years in the future, there are decisions we...

November 13, 2017

News, SliderMalaysia

13NovNovember 13, 2017

US. The Constitution can’t protect underfunded public pensions

Government-employee unions won in a landslide last week, defeating New York’s ballot question to update the state constitution by 78 percent to 16 percent. Public-sector groups were worried that any changes would imperil their pensions, which the constitution guarantees. But public-sector workers should worry less about words and more about numbers. Whenever anyone writes that public-sector pensions are unsustainable, New York union leaders have a rejoinder: The constitution guarantees them. Such benefits, according to the document, “shall be a contractual...

November 13, 2017

News, SliderUS

12NovNovember 12, 2017

Finance-Informed Citizens, Citizen-Informed Finance: An Essay Occasioned by the International Handbook of Financial Literacy

By Lauren E. Willis (Loyola Law School Los Angeles) Throughout the world, the dominant discourse treats “financial literacy” as both necessary and sufficient to improve the well-being of individuals and society. This essay argues that financial literacy is neither, and that promoting financial literacy is a perverse way to address the inadequate retirement funding, overindebtedness, financial crises, and other social ills that have inspired governments and educators to pursue it. In its place, this essay suggests that the aim of...

November 12, 2017

Adequacy, Aging, Labor MarketFinancial Education, Financial Inclusion, Public Policy, Regulation

12NovNovember 12, 2017

Rethinking Limits on Tax-Deferred Retirement Savings in Canada

By William B. P. Robson (C.D. Howe Institute) Tax rules limiting the amount of tax deferral available to Canadians in various retirement saving vehicles need some measure of equivalency among them. Since 1990 this measure has been the Factor of Nine, based on the proposition that saving 9 percent of annual earnings will let a person buy a retirement annuity equal to 1 percent of pre-retirement income. A quarter century later, the flaws in the Factor of Nine are glaring...

November 12, 2017

Articles, Pension design, RegulationCanada, Reform, Savings

12NovNovember 12, 2017

Alternative Measures of Non-Cognitive Skills and Their Effect on Retirement Preparation and Financial Capability

By Gema Zamarro (University of Arkansas) Social science, more than ever, is drawing upon the insights of personality psychology. Though researchers now know that non-cognitive skills and personality traits, such as conscientiousness, grit, self-control, or a growth mindset could be important for life outcomes, they struggle to find reliable measures of these skills. Self-reports are often used for analysis but these measures have been found to be affected by important biases. We study the validity of innovative more robust measures...

November 12, 2017

Articles, Investing, Pension design, Slider-Left, System SustainabilityFinancial Education, Political economy

10NovNovember 10, 2017

Colombia. El 20% más rico de la población se lleva el 50% de los subsidios a las pensiones públicas

Uno de los más claros ejemplos de desigualdad en Colombia se ve claramente en los subsidios a las pensiones. Así lo ha dicho el Departamento Nacional de Planeación (DNP) varias veces en los últimos años, y también lo dicen las administradoras de los fondos de pensiones. Información del DNP señala que el 20% de la población con el mayor ingreso recibe el 50,8% del total de subsidios, mientras que el 20% más bajo recibe tan solo el 4,3%. Si se tiene...

November 10, 2017

NoticiasColombia

10NovNovember 10, 2017

Chile. Osvaldo Rosales: “La población podrá optar entre una AFP o un ente público”

Aumentar la cotización previsional a 5 por ciento,rebajar el costo de los medicamentos y transporte para personas mayores y la creación de un millón de empleos son algunas de las principales propuestas de campaña de Alejandro Guillier. Para analizar estas ideas, CNN Chile conversó con Osvaldo Rosales, coordinador programático del candidato Alejandro Guillier, quién aseguró que "nuestra intención como demócratas" es que "las personas puedan optar legitimamente por uno u otro", haciendo referencia a la elección de una AFP o...

November 10, 2017

NoticiasChile

10NovNovember 10, 2017

UK. The pension scheme de-risking market: how to find value

The dynamics of the pension de-risking market may be summarised as market conditions mixed with supply-and-demand forces, with an overlay of regulation. This melting pot leads to a cyclical market with different structures, offering more value for money than others at a particular time. Since I started working in this market as an insurer about 20 years ago, I’ve observed many such cycles, and now as a de-risking adviser to pension schemes I help my clients seek the best available...

November 10, 2017

News, Slider, UncategorizedUK

November 2017