July 2019

12Jul

The Evolution of Retirement Incentives in the U.S.

By Courtney Coile Program Employment rates of older men and women in the U.S. have been rising for the past several decades. Over the same period, there have been significant changes in Social Security and private pensions, which may have contributed to this trend. In this study, we examine how the financial incentive to work at older ages has evolved since 1980 as a result of changes in Social Security and private pensions. We find that the implicit tax on...

July 12, 2019
Articles, Labor Market,
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12Jul

Retirement Home? Ageing Migrant Workers in France and the Question of Return

By Alistair Hunter This open access book offers new insights into the ageing-migration nexus and the nature of home. Documenting the hidden world of France's migrant worker hostels, it explores why older North and West African men continue to live past retirement age in this sub-standard housing. Conventional wisdom holds that at retirement labour migrants ought to instead return to their families in home countries, where their French pensions would have far greater purchasing power. This paradox is...

July 12, 2019
Books, Labor Market,
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12Jul

The Future of Finance is Now: The Most Important Trends in Finance for the Coming Decade Have Already Started

By Jason Schenker The Future of Finance is Already HereIndustries are being disrupted by new and emerging technologies. The coming decade will bring an acceleration of technological innovation, adoption, and disruption. But finance has long been an industry at the forefront of technology adoption, which is why some of the most critical technological innovations and solutions for finance have already emerged. The Future of Finance is Now explores the most important innovations in finance technology (FinTech) as...

July 12, 2019
Books, Investing, Pension Management, Savings, , ,
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12Jul

Must an Occupational Pension Scheme Take Into Account ESG Factors Even If There Is a Risk of Financial Detriment to the Pension Fund?

By Philip Bennett This paper outlines the legal rules that regulate the investment of the assets of an English law occupational pension scheme set up under trust where the investment powers over those assets are held by the scheme trustee. Those rules derive from a combination of EU Directives (in particular, Article 18 of Directive 2003/41/EC (the “IORP I Directive”) replaced by Article 19 of Directive 2016/2341 (the “IORP II Directive”)), UK legislation transposing those Directives and adding further...

July 12, 2019
Articles, Investment, Pension design, ,
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12Jul

Digitalization and the Future of Work: Macroeconomic Consequences

By Melanie Arntz, Terry Gregory, Ulrich Zierahn Computing power continues to grow at an enormous rate. Simultaneously, more and better data is increasingly available and Machine Learning methods have seen significant breakthroughs in the recent past. All this pushes further the boundary of what machines can do. Nowadays increasingly complex tasks are automatable at a precision which seemed infeasible only few years ago. The examples range from voice and image recognition, playing Go, to self-driving vehicles. Machines are able...

July 12, 2019
Articles, Labor Market, System Sustainability, ,
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12Jul

Costa Rica. Banco Popular trasladará al fondo de pensión complementaria ¢135 mil millones de los trabajadores

Tras un año de administrar los recursos de los trabajadores, que provienen de la deducción del 1% del salario mensual que se le rebaja a cada individuo y del 0.25% que entregan los patronos, el Banco Popular trasladará esos recursos hoy a las cuentas individuales de cada persona afiliada al Régimen Obligatorio de Pensiones Complementarias. En total, se trata de ¢135 mil millones del denominado Fondo de Trabajo y se destinará a las operadoras de pensiones. En los...

July 12, 2019
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12Jul

Colombia. Aportes voluntarios a pensión obligatoria para lograr un buen incremento en su mesada pensional

Con la expedición de la Ley 100 de 1993, el Gobierno nacional dio luz verde para que los colombianos que cotizan en los fondos privados realicen aportes adicionales y voluntarios a pensión obligatoria, con el fin de que cuando llegue el momento de pensionarse puedan contar con una mesada, que les permita tener una mejor calidad de vida en la vejez. Entre más joven sea el afiliado cuando comience a realizar este tipo de aportes, mejor podrá ser el...

July 12, 2019
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12Jul

México. Rentas vitalicias, insuficientes para cubrir gastos en salud en la vejez

Uno de los problemas que deberán enfrentar las personas que se jubilen bajo el esquema de 1997 —sistema de afores— son los altos costos de las rentas vitalicias que ofrecen las aseguradoras; y para quien pueda adquirirlas no será suficiente para enfrentar los gastos en salud que se tienen durante la vejez, indicaron expertos. “Mantener una póliza vitalicia después de la jubilación tiene un costo entre 3 y 5 millones de pesos por persona con condiciones básicas, una cifra...

July 12, 2019
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12Jul

Informality and the Challenge of Pension Adequacy: Outlook and Reform Options for Peru

Past reforms have put the Peruvian pension system on a largely fiscally sustainable path, but the system faces important challenges in providing adequate pension levels for a large share of the population. Using administrative microdata at the affiliate level, we project replacement rates in the defined benefit (DB) and defined contribution (DC) pillars over the next 30 years and simulate the impact of various reform scenarios on the average level and distribution of pensions. In the DB pillar, the...

July 12, 2019
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12Jul

China to step up state asset transfers to pension funds amid sustainability concerns

China will expand a pilot program this year to transfer government holdings in state-owned enterprises to social security funds nationwide in response to concerns about the sustainability of the pension system, said Caixin. The State Council decided at an executive meeting this week to fully push for the transfer of 10% of the equity in state-owned companies to the national social security fund and relevant local entities. The move is a further implementation of a 2017 trial plan that was limited to...

July 12, 2019
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