April 2017

03Apr

The Future of Labour Is Not Pre-Determined

In the heart of the Agenda for Sustainable Development is the demand to end poverty worldwide. Decent work seems to be the best way to generate income for people worldwide under fair conditions. In 2017 according to calculations by the International Labour Organization (ILO), about 200 million people are unemployed, another 1.4 billion are underemployed. There is still a long way to go. Guy Ryder, the general director of ILO has found the time to discuss with DDD why...

April 3, 2017
News
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03Apr

Approximate Solutions to Retirement Spending Problems and the Optimality of Ruin

By Faisal Habib, Huang Huaxiong & Moshe A. Milevsky (York University) Milevsky and Huang (2011) investigated the optimal retirement spending policy for a utility-maximizing retiree facing a stochastic lifetime but assuming deterministic investment returns. They solved the problem using techniques from the calculus of variations and derived analytic expressions for the optimal spending rate and wealth depletion time under the Gompertz law of mortality. Of course, in the real world financial returns are stochastic as well as lifetimes, raising the...

April 3, 2017
Aging, Articles, Regulation, ,
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03Apr

Nudge for Good? Choice Defaults and Spillover Effects

By Claus Ghesla, Manuel Grieder & Jan Schmitz (ETH Zurich) Policy makers increasingly use choice defaults to promote 'good' causes by influencing socially relevant decisions in desirable ways, e.g., to increase retirement savings, charitable giving, or pro-environmental choices. Such default nudges are remarkably successful when judged by their effects on the targeted behaviors in isolation. However, there is scant knowledge about possible spillover effects of defaults on subsequent related choices. Theoretically, such behavioral spillover effects could amplify, eliminate or even...

April 3, 2017
Articles, Labor Market, Savings,
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03Apr

Financial History: Lessons of the Past for Reformers of the Present

By Gerard Caprio Jr. (Williams College) & Dimitri Vittas (World Bank) The environment in which financial institutions operate has changed greatly, but the history of financial development offers important lessons for today. Among the lessons financial history offers: Macroeconomic stability - low inflation and sound public finance - is important for creating the right incentives for banks and for facilitating the development of securities markets. High inflation and large fiscal deficits distort economic behavior in favor of short-term speculative projects and...

April 3, 2017
Articles, Investing, Regulation, Savings, , ,
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03Apr

UK. Pensions hole deepens at Sir Philip Green’s Arcadia

The pension deficit at Sir Philip Green’s Arcadia Group soared to £565m last year as BHS was dragged to its knees by its own shortfall, according to new documents released last night by MPs. The retail billionaire had said he would double his annual contribution into Arcadia’s pension fund to £50m. However, at that time it was believed the deficit was only £200m. Now new papers, dated after the company’s triennial valuation, show the full severity of the issue. They also...

April 3, 2017
News
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March 2017

31Mar

US. Congress could kill state retirement plans

New state-sponsored IRA plans would aim to help small business employees who don't already have access to a retirement savings plan at work -- like a 401(k). But new legislation could stop them before they even begin. The House of Representatives voted along party lines last month to roll back an Obama-era rule that paved the way for these plans. On Thursday, the Senate narrowly passed legislation that takes another step toward finalizing the repeal. Republicans say that under President Obama,...

March 31, 2017
News
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31Mar

UK. Insurers call for pension dashboard regulation as tech set to launch

Insurers have called on the government to start legislating for a pensions dashboard, as they prepare to launch the first working prototype next month. In last year's Budget the Treasury set out expectations for the pensions industry to build a dashboard to allow people to see where all their retirement savings are by 2019. The Association of British Insurers (ABI) has taken responsibility for organising the project. Currently 17 providers have signed up to help develop the dashboard. Technology for the dashboard...

March 31, 2017
News
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31Mar

Chile. Presidente de la Asociación de AFP: Los que tienen más lucas deben ayudar a los que tienen menos

El presidente de la Asociación de AFP, Andrés Santa Cruz, se refirió en ADN Hoy a la propuesta del Gobierno de aumentar la cotización en las cuentas individuales de los trabajadores. Al respecto, el dirigente recalcó que el énfasis debe estar en "con las lucas de los que tienen más, ayudemos a los que tienen menos (...) Reasignemos y adjudiquemos bien los gastos". "La solución es ir ayuda de los que tienen más bajas pensiones, principalmente de las mujeres, a través...

March 31, 2017
Uncategorized
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31Mar

Consar: desconocen 18 millones de mexicanos que tienen afore

Alrededor de 18 millones de trabajadores desconocen que tienen una cuenta en una afore, a pesar de que cada mes se les descuenta 6.5% de su salario para el ahorro de su pensión, indicó Carlos Ramírez, presidente de la Consar. “Si bien tienen una cuenta, no han firmado formalmente con una afore y no les llega un estado de cuenta. Es una señal de alerta porque si no lo saben, en el futuro nos encontraremos con personas que no reclaman...

March 31, 2017
Noticias
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