August 2021
13Aug

Finland tops global pension rankings

Finland's pension system has ranked number one in the world in 2021 while the UK has fallen “short of the mark”, ranking 25th out of 33 countries included in analysis by Blacktower Financial Management. The analysis used key metrics to analyse pension systems around the world, including public spending, average retirement ages, average pension contributions and the percentage of the population who have participated in pension schemes. Finland was deemed to have the best pension system in the world, recording high...

August 13, 2021
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13Aug

US. Five Retirement Planning Pitfalls (And How To Avoid Them)

As a financial advisor, one of the most commonly asked questions I get is, “What can I do to improve my retirement picture?” One of the biggest benefits of investing in a 401(k) plan is the ability to grow your assets over time. A 35-year-old who contributes $19,000 annually over a 30-year period can have $1.34 million to retire on at age 65, assuming a 5% annual return. Now that might sound like a difficult amount to put aside each...

August 13, 2021
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13Aug

UK. Over Two Thirds of Pension Savers Find Info on Fees Complex and Difficult To Locate

New research from PensionBee reveals that the majority of pension savers (67%) find information on fees complex and difficult to locate. The online pension provider found that almost half (47%) of respondents do not know how much they are paying in fees, with 24% reporting that they don’t know how to find this information. Of those that do know how much they are paying in fees, 29% report that they had difficulty in finding or understanding this information. These findings support...

August 13, 2021
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12Aug

Climate Change 2021 The Physical Science Basis

By IPCC This Summary for Policymakers (SPM) presents key findings of the Working Group I (WGI) contribution to the IPCC’s Sixth Assessment Report (AR6)1 on the physical science basis of climate change. The report builds upon the 2013 Working Group I contribution to the IPCC’s Fifth Assessment Report (AR5) and the 2018–2019 IPCC Special Reports2 of the AR6 cycle and incorporates subsequent new evidence from climate science3 . This SPM provides a high-level summary of the understanding of the current state of...

August 12, 2021
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12Aug

Social Security Wealth, Inequality, and Life-cycle Saving: An Update

By John Sabelhaus, & Alice Henriques Volz Social Security wealth (SSW) is the present value of future benefits an individual will receive less the present value of future taxes they will pay. When an individual enters the labor force, they generally face a lifetime of taxes to pay before they will receive any benefits and, thus, their initial SSW is generally low or negative. As an individual works and pays into the system their SSW grows and generally peaks somewhere...

August 12, 2021
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12Aug

Using Fresh Starts to Nudge Increased Retirement Savings

By John Beshears, Hengchen Dai, Katherine L. Milkman & Shlomo benartzi We conducted a field experiment to study the effect of framing future moments in time as new beginnings (or “fresh starts”). University employees (N=6,082) received mailings with an opportunity to choose between increasing their contributions to a savings plan immediately or at a specified future time point. Framing the future time point in relation to a fresh start date (e.g., the recipient’s birthday, the first day of spring) increased...

August 12, 2021
Articles, Pension design, Savings,
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12Aug

The Origins of ESG in Pensions: Strategies and Outcomes

By Stephanie Lachance, Judith C. Stroehle As intergenerational stewards of capital, pension funds can have many good reasons to embrace environmental, social, and governance (ESG) issues in their investment practices. Yet the particular structure of pension funds creates both advantages and disadvantages for the integration of ESG. This paper reviews the historical origins, regulatory mandates, and fund structures of pensions, to tease out exactly which of these characteristics enable and which of them impede the inclusion of ESG at pension...

August 12, 2021
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12Aug

Living in the COVID-19 Pandemic: The Health, Finances, and Retirement Prospects of Four Generations

By Transamerica Center for Retirement Studies Since 1998, Transamerica Center for Retirement Studies® (TCRS) has conducted a national survey of U.S. business employers and workers regarding their attitudes toward retirement. The overall goals for the study are to illuminate emerging trends, promote awareness, and help educate the public. It has grown to be one of the longest running and largest national surveys of its kind. • Limited Print and Electronic Rights. This document and trademark(s) contained herein are federally registered or...

August 12, 2021
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12Aug

Afore ligan 4 meses con plusvalías en ahorro de trabajadores

Las Administradoras de Fondos para el Retiro (Afore) reportaron en julio plusvalías para los trabajadores por 41 mil 132 millones de pesos, con lo que ligaron cuatro meses consecutivos con números positivos, de acuerdo con información de la Comisión Nacional del Sistema de Ahorro para el Retiro (Consar). De esta forma, entre enero y julio pasado, las 11 Afore que operan en el sistema han brindado plusvalías por 170 mil 640 millones de pesos sobre los casi 5 billones de...

August 12, 2021
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12Aug

Chile. Comisión de Constitución de la Cámara inicia debate sobre el cuarto retiro del diez por ciento y acuerda fusionar proyectos

La Comisión de Constitución de la Cámara de Diputados resolvió, este miércoles, fusionar seis de los siete proyectos que proponen retirar parte o la totalidad de los fondos de ahorro previsional. De esta manera se discutirán en conjunto las iniciativas tanto que proponen un retiro del diez por ciento como las que proponen un retiro del cien por ciento, como es el caso de lo propuesto por el diputado UDI, Jorge Alessandri. El parlamentario gremialista justificó su propuesta ante lo que,...

August 12, 2021
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