May 2019

24May

Pension Fund Risk Management: Financial and Actuarial Modeling

By Marco Micocci, Greg N Gregoriou, Giovanni Batista Masala As pension fund systems decrease and dependency ratios increase, risk management is becoming more complex in public and private pension plans. Pension Fund Risk Management: Financial and Actuarial Modeling sheds new light on the current state of pension fund risk management and provides new technical tools for addressing pension risk from an integrated point of view. Divided into four parts, the book first presents the correct measurement of risk...

May 24, 2019
Books, Investing, Pension design, ,
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24May

Fundamentals of Investment: A Practitioner’s Guide (English Edition)

By Brian O'Loughlin, Frank O'Brien Post the Financial Crash, the role of regulation and the impact of regulation on all aspects of the financial industry has broadened and intensified. This book offers a comprehensive review of the operations of the industry post-financial crisis from a variety of perspectives. This new edition builds upon the authors’ predecessor book, Fundamentals of Investment: An Irish Perspective. The core of the original text is retained particularly concerning fundamental concepts such as discounted...

May 24, 2019
Books, Investing, Management,
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24May

Economic Growth and the Public Sector: A Comparison of Canada and Italy, 1870-2013

By Livio Di Matteo, T. P. Barbiero There is considerable evidence that the size of the public sector can influence an economy’s rate of economic growth. We investigate public sector spending of central governments and economic performance in two G7 countries over the long-term, Canada and Italy. Their economic performance has diverged in the last 25 years and it is worth investigating whether the size of government was a contributing factor. We find that in both the case of...

May 24, 2019
Articles, System Sustainability, , ,
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24May

Will the Financial Fragility of Retirees Increase?

By Steven A. Sass Retirees have long been considered financially fragile. The notion that they are ill-equipped to absorb financial shocks is captured in the traditional trope that they live on fixed incomes. Going forward, retirees will get much less income from fixed Social Security and employer pensions, and much more from savings in 401(k) plans and individual retirement accounts (IRAs). These savings give retirees greater flexibility to respond to shocks. But tapping into their nest eggs comes at...

May 24, 2019
Adequacy, Articles, , , , ,
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24May

Retirement and Social Security

By Giam Cipriani, Tamara Fioroni In this paper, we analyse the effects of demographic change on a PAYG pension system, financed with a defined contribution scheme. In particular we examine the relationship between retirement, fertility and pensions in a three-period overlapping generations model. We focus on both the case of mandatory retirement and the case where the retirement age is freely chosen. In the case of mandatory retirement, increasing longevity has an unambiguously negative impact on fertility and pension...

May 24, 2019
Aging, Articles, Pension design, Savings, , ,
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24May

México. Chocan las Afore y Consar por comisiones

Nuevas reglas para calcular las comisiones que cobran las Afore a sus clientes en México han abierto un debate entre la Comisión Nacional del Sistema de Ahorro para el Retiro (Consar) y las administradoras del ahorro de los trabajadores. La Consar envió en días pasados a la Comisión Nacional de Mejora Regulatoria (Conamer) el anteproyecto sobre nuevas políticas y criterios en materia de comisiones con el que el organismo busca evitar cobros excesivos a los trabajadores con cuenta de...

May 24, 2019
Noticias,
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24May

México. Afores de los más jóvenes sufren caída en rendimiento

Durante el primer cuatrimestre del año, los rendimientos que dieron las administradoras de fondos para el retiro (afores) a los trabajadores más jóvenes sufrieron una reducción de más de 1 punto porcentual, mientras que los rendimientos de los trabajadores más grandes mostraron ligeros aumentos. De acuerdo con el Indicador de Rendimiento Neto (IRN), que realiza la Comisión Nacional del Sistema de Ahorro para el Retiro (Consar), el fondo que administra las cuentas de los trabajadores que tienen menos de...

May 24, 2019
Noticias,
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24May

España. El gasto en pensiones se eleva en mayo hasta otro récord de 9.611 millones

La Seguridad Social destinó en el presente mes de mayo la cifra récord de 9.610,9 millones de euros al pago de las pensiones contributivas, casi un 7% más que en el mismo mes de 2018, según datos publicados este viernes por el Ministerio de Trabajo, Migraciones y Seguridad Social. El crecimiento del gasto en mayo se sitúa en el 5% en términos homogéneos, es decir, teniendo en cuenta la revalorización definitiva de las pensiones en 2018 (se aprobó en...

May 24, 2019
Noticias,
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24May

US. House passes SECURE retirement bill with massive bipartisan support

The House of Representatives passed a sweeping retirement bill Thursday that makes it easier for small businesses to offer a workplace retirement plan, eases use of annuities in 401(k)s and raises the required minimum distribution age, among other changes. The Setting Every Community Up for Retirement Enhancement Act, passed the House on a 417-3 vote and now heads to the Senate, where it is expected to pass by the end of the current legislative session. If the bill becomes...

May 24, 2019
News, Slider,
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24May

How quickly should new graduates start saving for retirement

Young adults have at least one thing working in their financial favor: time. Older adults who are faced with delaying retirement longer than they wish often confide in me that, if they could tell their younger self one thing, it would be to start saving for retirement as soon as possible. But the slow and tedious process of saving can be a hard sell for young adults. It’s especially difficult for those coming out of college with large student...

May 24, 2019
News, Slider
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