admin, Author at Pension Policy International

06JanJanuary 6, 2020

US. Public Pension Funding Crisis: Why Should Today’s Workers And Retirees Pay The Price?

Here are some excerpts of interest from a May 26, 1965 Chicago Tribune story, “Police, Fire Pensions Tabled”: “Three important police and firemen’s pension bills appeared defeated today but efforts may be made to revive one which would consolidate 335 pension systems outside of Chicago. . . . “Robert Erickson, a spokesman for the Civic federation, Chicago taxpayers’ organization, was happy when two tax-increasing bills were tabled by their sponsors. “One would have required a property tax boost to...

January 6, 2020

News, Slider2020, Funding, US

06JanJanuary 6, 2020

UK. More than 10,000 retirees set to lose £3,500 a year in state pension

That's because the government is cutting the extra payments for "adult dependents", worth up to £70 a week. In total, 11,000 retirees are expected to lose a collective £33million, according to a Freedom of Information request by Steve Webb, policy director of insurer Royal London. The so-called "adult dependency increase" (ADI) is typically paid for a partner who is below state pension age but who is financially dependent on someone receiving the basic state pension. These extra payments closed...

January 6, 2020

News, Slider2020, Pensions

03JanJanuary 3, 2020

Social Security and Pension Reform: International Perspectives

By Marek Szczepanski, John A. Turner Countries around the world are reforming their social security and pension systems. International studies often focus on social security reforms in Europe and North America, and may include Latin America. Reforms, however, are also occurring in Asia and Africa, and include reforms of voluntary and employer-provided pensions as well as social security programs. This book discusses both social security and employer-provided pension reforms, as well as reforms in most regions of the world....

January 3, 2020

Books, Pension design2013, Pension Reform, Social Security

03JanJanuary 3, 2020

Pension Actuarial Mathematics

By Philip Martin McCaulay This 40-page publication on pension actuarial mathematics covers topics such as (I) interest and mortality, (II) cost methods, (III) amortization and contributions, and (IV) Duration and Convexity. Part I on interest and mortality includes mortality rates and survival functions, the theory of interest, commutation functions, and life annuity factors. Part II on cost methods includes the Unit Credit (UC) Cost Method, the Projected Unit Credit (PUC) Cost Method, the Entry Age Normal (EAN) Cost Method,...

January 3, 2020

Books, Investment, Pension design, Savings2014, Pension Management

03JanJanuary 3, 2020

The Evolution of Fintech: A New Post-Crisis Paradigm?

By Douglas W. Arner, Janos Nathan Barberis, Ross P. Buckley “FinTech”, a contraction of “Financial technology”, refers to technology enabled financial solutions. It is often seen today as the new marriage of financial services and information technology. However, the interlinkage of finance and technology has a long history and has evolved over three distinct eras, during which finance and technology have evolved together: first in the analogue context then with a process of digitalization of finance from the late...

January 3, 2020

Articles, Pension design, Savings2015, Fintech

03JanJanuary 3, 2020

Economics of Crisis

By Julia M. Puaschunder According to Semmler (2019), for speculations, currency and financial crises, the economic literature can be divided into three generations of models: (1) Focus on macroeconomic fundamentals (such as differences in economic growth rates, productivity and price levels, short-term interest rates as well as monetary policy actions) causing exchange rate movements. (2) Speculative forces – such as self-fulfilling expectations, which destabilize exchange rates without deterioration of fundamentals. (3) Following the theory of imperfect capital markets, self-fulfilling...

January 3, 2020

Articles, System Sustainability2019, Political economy

03JanJanuary 3, 2020

Impact Investing

By Brad M. Barber, Adair Morse, Ayako Yasuda We document that investors derive nonpecuniary utility from investing in dual-objective VC funds, thus sacrificing returns. Impact funds earn 4.7 percentage points (ppts) lower IRRs ex post than traditional VC funds. In random utility/willingness-to-pay (WTP) models investors accept 2.5-3.7 ppts lower IRRs ex ante for impact funds. The positive WTP result is robust to fund access rationing and investor heterogeneity in fund expected returns. Development organizations, foundations, financial institutions, public pensions,...

January 3, 2020

Articles, Investing2019, Europe, Political economy, Sustainability, US

03JanJanuary 3, 2020

Ghana. SSNIT To Pay ¢243m Pension In 2020

The Social Security and National Insurance Trust (SSNIT) has announced it will pay pensions in excess of GH¢ 243 million this yearp. The amount represents an indexation rate of 11℅ for the year under review. Chief Actuary of SSNIT, Stephen Yeboah, made this known at a press conference on Thursday, January 2, 2020, in Accra. Read also Africa’s Biggest Fund Manager Needs CEO for $150 Billion Assets According to him, the 2020 indexation rate was determined using the percentage change...

January 3, 2020

News, Slider2020, Africa, Ghana, Pension Management

03JanJanuary 3, 2020

On Day 29, French rail strike makes history

A labour walkout that has frustrated Paris commuters and marooned thousands of holiday travellers in France dragged into its 29th day on Thursday, becoming the country's longest continuous railway strike with no end in sight. The standoff over the government's plan to merge 42 pension schemes into a single, points-based system has seen workers at the state-owned SNCF railway company and Paris' RATP public transport operator down tools since December 5. Hundreds of thousands of strikers and their supporters...

January 3, 2020

News, SliderEurope, France, Pension Reform

02JanJanuary 2, 2020

Mongolia to write off loans of all pensioners

The National Security Council of Mongolia led by the country's president has decided to write off the loans of all pensioners in the country. President Khaltmaa Battulga announced the decision on Tuesday night while extending New Year greetings to his people via media. "I am happy to announce that the National Security Council of Mongolia has decided to pay off the loans of all pensioners ... with the aim to help them get out of debt," he said. It...

January 2, 2020

News, Slider2020, Asia, Mongolia, Social Protection

January 2020