July 2017

25Jul

Canada. Morneau Shepell releases the results of its Performance Universe of Pension Managers’ Pooled Funds

According to the report, in the second quarter of 2017, diversified pooled fund managers posted a median return of 0.7 per cent before management fees. "In the second quarter, the Canadian stock market underperformed by 1.6 per cent, while global stock markets posted positive returns. The rise in the Canadian dollar versus several foreign currencies had a negative impact on Canadian investors. For the second quarter in a row, emerging market equities dominated with the MSCI Emerging Markets Index returning...

July 25, 2017
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25Jul

US. Women’s Retirement Income Literacy Is Lower Than Men’s

Women at retirement age, those between the ages of 60 and 75, understand the components of retirement income far less well than men of the same age, although even men don’t grasp the topic very well, the RICP Retirement Income Literacy Survey from The American College of Financial Services found. Only 18% of women passed the quiz, compared to 35% of men. A mere 16% of women answered questions about annuity products in retirement correctly, compared to 24% of men....

July 25, 2017
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24Jul

Zambia. Retirement should be a happy time

RETIREMENT is for every worker, whether in full-time employment or otherwise, because one comes to the end of their strength and they have to rest. The end of work, for most workers, means their assured source of income – the salary – also ceases to come. That is why Government put in place pension schemes so that employees can have some sound financial stability during and after work life. We have seen how some pension schemes have enabled employees, as contributors, to...

July 24, 2017
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24Jul

US. To fix pensions, first change constitution

With a statewide pension shortfall totaling $7.7 billion, the Public Safety Personnel Retirement System (PSPRS) has long been on the receiving end of reform measures. And if a group of Arizona mayors is successful, more reforms will be coming. From the 2011 attempt by the State Legislature to increase the employee contribution rate, to 2016’s elimination of the costly Permanent Benefit Increase (PBI) program, state and local officials have tried through the years to make the system more sustainable. Now, support appears...

July 24, 2017
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24Jul

Malta. Reviewing the pensions paradigm: a disruptive opportunity?

In 1889, the first system of State pension provision was introduced by German Chancellor Otto Von Bismarck. At its inception the system afforded a pension to all those who attained 70 years of age, although the average life ex­pectancy was of around 37 years of age. With time, came advancements in medical and sanitary standards, but it also brought with it the challenges of people’s longevity and the sustainability of the pension system and the economy as a whole. Today...

July 24, 2017
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24Jul

UK. State pension changes will cost 7 million people £10,000 each

More than 7 million people will lose just under £10,000 each because of new government plans to increase the state pension age earlier than planned. Last week the government announced it would raise the state pension age to 68 for those now in their late 30s and early 40s. The change will affect Britons born between 1970 and 1978, who will now have to wait another year to receive their state pensions, a move which the government found would save...

July 24, 2017
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23Jul

Chile. No+AFP llama a movilizarse en el aniversario de su primera gran marcha

La coordinadora No+AFP llamó a movilizarse durante este lunes 24 de julio, día del aniversario de la primera gran protesta contra el sistema de pensiones. Según explicó el presidente de la Confusam, Esteban Maturana, a Radio Bío-Bío, la idea es que los trabajadores se congreguen en plazas públicas y durante la noche realicen un caceroleo masivo. En las movilizaciones se demandará una Reforma de Pensiones Estructural y se protestará contra "el abuso de las Administradoras de Fondos de Pensiones". Recientemente el ministro...

July 23, 2017
Noticias
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23Jul

The Evolution of Social Security Research

By Mario Arturo Ruiz Estrada (University of Malaya) & Evangelos Koutronas (Social Security Research Centre) This article examines the evolution of social security research from a theoretical and empirical perspective. This is done through an extensive review and analysis of publications from the Journal of International Social Security Review published by Wiley within a 50-year period (1967-2017). It was observed that at a different period in time, the social security research focused on different national and international issues that invoked...

July 23, 2017
Adequacy, Articles, Regulation,
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23Jul

Life-Cycle Earnings Curves and Safe Savings Rates

By Derek Tharp (Kansas State University) & Michael E. Kitces (The Kitces Report & Nerd's Eye View) Traditional analyses of recommended savings ratios and safe savings rates (SSRs) typically assume constant real earnings growth throughout the one’s career. However, data on the life-cycle earnings patterns of millions of U.S. workers suggests that earnings growth does not occur at a constant rate that matches inflation. Instead, earnings tend to increase at a decreasing rate during the early years of one’s career...

July 23, 2017
Aging, Articles, Labor Market, Savings,
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23Jul

Retirement Security in an Aging Society

By James M. Poterba The share of the U.S. population over the age of 65 was 8.1 percent in 1950, 12.4 percent in 2000, and is projected to reach 20.9 percent by 2050. The percent over 85 is projected to more than double from current levels, reaching 4.2 percent by mid-century. The aging of the U.S. population makes issues of retirement security increasingly important. Elderly individuals exhibit wide disparities in their sources of income. For those in the bottom half of...

July 23, 2017
Aging, Articles, Investing, Savings, , ,
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