November 2019

11Nov

Chile. Es posible mejorar las pensiones de inmediato

No hay nadie en este país que no esté de acuerdo en que las pensiones son extremadamente bajas. De hecho, al pensionarse las personas reciben, en promedio, menos del 30% de su último sueldo. Lee también Chile. Estudio asegura que si las AFP repartieran el 100%, de sus ganancias, cada afiliado recibiría $34.416 Las causas de esta situación están a la vista y son principalmente dos: bajo nivel de cotización y, por otra parte, el método de cálculo de las...

November 11, 2019
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11Nov

Poland Approves Plans to Overhaul Pension System

Poland is moving its state-guaranteed private pension benefits to IRA-like accounts. The shift is designed to trim the Polish government’s liabilities and save $5 billion thanks to reduced retirement outlays. The government-backed private system, called OFE, is valued at about $43 billion. Private pension funds are owned and run by firms like MetLife, NN Group, and Aviva. The government is transferring assets to fill a budget gap and minimize uncertainty. Poles’ private pension money will be moved to the...

November 11, 2019
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11Nov

German coalition parties avert government crisis with pension deal

German Chancellor Angela Merkel's conservatives and the center-left Social Democrats (SPD) on Sunday broke a deadlock over a higher basic pension for low-income workers, an impasse which had threatened the future of their governing coalition. Senior coalition members, including Merkel and SPD Finance Minister Olaf Scholz, sealed the compromise deal during talks in the chancellery that lasted more than six hours. The package also includes lower contributions to the public unemployment insurance scheme and the creation of an investment...

November 11, 2019
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11Nov

Bank of Estonia: Pension reform to bring pressure for tax increase with it

The Bank of Estonia recommends not making the second pillar of Estonia's pension system voluntary, as that may result in lower old-age pensions in the future and bring pressure to raise taxes in the future with it. The Ministry of Finance sent the pension reform bill that would make the second pillar optional for an interministerial round of approvals last Wednesday. Earlier this fall, the Bank of Estonia drew up an impact analysis of changes to the system of...

November 11, 2019
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11Nov

Ireland. Eldercare can be a double whammy for working women

Recently my colleagues at the Economic and Social Research Institute (ESRI) presented research results on the gender pension gap in Ireland. The research, sponsored by the Pensions Council, which advises government on pension policy, showed a gap of 35 per cent between the pensions of men and women. It also showed that this gap is driven by differences in access to occupational pensions. Subsequently, other ESRI colleagues presented research on older workers in Ireland. The Health and Safety Authority...

November 11, 2019
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11Nov

Congress Eyes Barring Federal Pension Investments in China

A bipartisan push, headed by GOP Sen. Marco Rubio of Florida, has introduced a bill to stop a federal retirement fund from investing in Chinese equities. The lawmakers are worried that using the retirement money to fund Chinese companies will undermine US economic and national security. They also dislike the companies’ failure to meet financial rules that are standard in today’s developed markets. CNBC reported last month that the Trump administration was weighing a similar move. And the White...

November 11, 2019
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08Nov

Social Protection in Developing Countries: Reforming Systems

By Katja Bender, Markus Kaltenborn, Christian Pfleiderer, Magdalena Sepulveda Carmona Providing universal access to social protection and health systems for all members of society, including the poor and vulnerable, is increasingly considered crucial to international development debates. This is the first book to explore from an interdisciplinary and global perspective the reforms of social protection systems introduced in recent years by many governments of low and middle-income countries. Although a growing body of literature has been concerned with the...

November 8, 2019
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08Nov

Longevity Risk and Retirement Income Planning

By Patrick J. Collins, Huy D. Lam, Josh Stampfli The past 50 years have seen an abundance of research on retirement planning and longevity risk. Reviewed here is the academic side of the research and its varied viewpoints and nuances. The evolution of retirement risk models, retirement portfolio problems and solutions, and annuities are some of the many topics covered. Get the book here

November 8, 2019
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08Nov

Sharpening the Teeth of EU Social Fundamental Rights? The Case of State Pension Age in the UK

By Hans van Meerten In this contribution I want to discuss an important and very topical EU Law element of the judgment regarding two claimants (Delve and Glynn), backed by BackTo60, versus the UK Department of Work and Pensions (hereafter: Delve and Glynn). Claimants argued inter alia that the UK State Pension Age (SPA)was discriminatory. I want to focus here not if SPA is discriminatory, but whether the (SPA) falls in the ambit of EU law. Didn’t the UK...

November 8, 2019
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