October 2021
15Oct

China to encourage development of pensions, insurance for delivery sector

China's top banking and insurance regulator said it would encourage insurers to accelerate the development of commercial pension products and accident insurance for gig-economy workers such as couriers and takeout deliverymen. Read also Hong Kong government proposal for residents to convert pensions into annuities ‘absurd’ if made mandatory, labour minister says China has in recent years experienced a delivery boom powered by millions of couriers who work for companies such as Meituan Dianping and Alibaba’s Ele.me to deliver packages and meal...

October 15, 2021
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15Oct

UK. Govt launches consultation on NHS pension scheme changes

The government has launched a consultation on proposed changes to the contributions that members pay into the NHS Pension Scheme in light of the move to a career average revalued earnings (CARE) model. Under the proposals, members’ contribution rates would change to be based on actual pensionable pay instead of members’ notional whole-time equivalent pay. This would mean that many part-time members would see their contribution amounts reduce, and is a reflection of the increasing number of scheme members with no...

October 15, 2021
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15Oct

Puerto Rico board agrees to remove pension cuts from debt plan

Puerto Rico's financial oversight board has agreed to remove proposed public employee pension cuts from a plan to restructure the island's debt, a major concession from the panel that aims to get commonwealth lawmakers to approve new restructuring bonds and lift the island out of bankruptcy. Read also South Africa: A New Social Assistance Assessment Aims to Help Strengthen Policies and Programs for the Poor The board included a 8.5% reduction to some pension benefits in the debt adjustment plan that...

October 15, 2021
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15Oct

Use positivity to beat savers’ pensions defeatism

Pension scheme communications need to focus on members’ progress and the steps they can take to improve income, rather than barriers they could face without action, Nest Insight research finds. Members can be put off by current communications that present barriers in terms of a lack of affordability, a feeling of being overwhelmed, and low confidence - all of which contribute to a "sense of defeatism". Small Steps to a Better Future, written in conjunction with Invesco and Maslanksy + Partners,...

October 15, 2021
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15Oct

Gender Inequality in Retirement Savings

By Dr David Knox, Michael Rice and Richard Dunn Over the last twenty years, there has been increasing interest in the reasons for the gap between the average male and female retirement balances. This gap, known as the gender pension gap1, is characterised by the fact that, on average, women tend to live on a lower income in retirement than men. It is usually measured by combining all sources of retirement income, whether public or private, pay-as-you-go or funded. In this...

October 15, 2021
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15Oct

Global Public Pensions 2020

By OMFIF The inaugural edition of Global Public Pensions, sponsored by Citi and Capital Group, builds on the seven-year track record of OMFIF’s benchmark Global Public Investor annual report and aggregates the portfolios of 100 leading global public pension funds. In total, global public pensions have more than $17tn of assets under management – more than twice as much as sovereign wealth funds, according to OMFIF research. This new report captures 77% of those investable assets. The research reveals that: Public pensions are...

October 15, 2021
Books, Investment, Pension Management,
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15Oct

The COVID-19 Pandemic and Precarious Aging: The Importance of an Equity Response

By Marc A. Garcia, Adriana M. Reyes & Catherine Garcia Older Black, Indigenous, and Latinx adults are at a higher risk of negative COVID-19 outcomes relative to older non-Latinx White adults. Mounting evidence regarding the disproportionate impact of COVID-19 on communities of color lays bare the effects of long-standing and deeply rooted structural racism in American society. Residential and occupational segregation and unequal access to health-promoting resources such as education, income, wealth, and quality healthcare have exposed and amplified pre-existing...

October 15, 2021
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15Oct

Pensions and ESG: An Institutional and Historical Perspective

By P. Brett Hammond & Amy O'Brien Sustainable investing is growing into its moment. Funded pensions, which were among the first institutions to respond to sustainability concerns, are showing renewed interest in better ways to reflect responsible investing objectives, along with regulators, asset managers and shareholder groups. Looking back, the principal elements of sustainability—environmental, social and governance (ESG)—all have different origins and took different pathways. Looking across, sustainable investing developed differently depending on region and country. Viewing it today, we...

October 15, 2021
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15Oct

Gender Preferences in Job Vacancies and Workplace Gender Diversity

By David Card, Fabrizio Colella & Rafael Lalive In spring 2005, Austria launched a campaign to inform employers and newspapers that gender preferences in job advertisements were illegal. At the time over 40% of openings on the nation’s largest job-board specified a preferred gender. Over the next year the fraction fell to under 5%. We merge data on filled vacancies to linked employer-employee data to study how the elimination of gender preferences affected hiring and job outcomes. Prior to the...

October 15, 2021
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14Oct

México. Las pensiones consumen el presupuesto; organismos y empresas públicas

El cada vez más abultado saldo pasivo pensionario de los organismos y empresas del Estado (52.1% del PIB) ha presionado sus finanzas a tal punto que, en 2022, cuatro de cada 10 pesos de su flujo de gasto irán a pensiones y jubilaciones. El Proyecto de Presupuesto de Egresos de la Federación 2022 señala que el IMSS, ISSSTE, Pemex y CFE erogarán en conjunto 1.034 billones de pesos en pensiones y jubilaciones, lo que implica 39.0% del gasto de estas...

October 14, 2021
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