April 2019

15Apr

The future of Spain: five parties, two models

On April 28, Spaniards will go to the polls in a snap national election triggered by a deadlock over the 2019 budget. Whichever government emerges from the vote will have to deal with this and other longstanding economic issues such as persistently high unemployment, ballooning debt and how to finance the pensions system with an ageing population. And on the political front, immigration and the Catalan crisis will continue to shape the national agenda. Spain in a snapshot Spain...

April 15, 2019
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15Apr

How the World’s Largest Pension Manager Is Trying to Make ESG Investing More Popular

The financial industry has jumped on the impact investing and environmental, social or governance—or ESG—bandwagon. But Hiromichi Mizuno, the man who oversees $1.6 trillion in the world’s largest public pension fund, says true believers on Wall Street are still hard to find, so he is taking his own steps to push ESG and impact investing off the sidelines. As chief investment officer of Japan’s Government Pension Investment Fund, Mizuno requires his asset managers to integrate ESG into their investment...

April 15, 2019
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15Apr

How behavioral technology will improve retirement planning

Technology has always been the great disrupter. When robo-advisers came around, traditional advisers began preparing for battle. Now financial advisers are largely embracing technology, using it to free them up to be a better adviser. But technology isn't done evolving. The tech you have today is most likely more of a starting line than a finish line. Financial services is notoriously behind the times when it comes to technology. Does it strike anyone else as strange that social media,...

April 15, 2019
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15Apr

UK. State pension age changes ‘risk creating new inequalities’

Making people work longer before they can collect their state pensions risks exacerbating social inequalities and threatens to create new gender inequalities, a report claims. Analysis by the thinktank International Longevity Centre UK (ILC) found that women who struggled to reconcile longer working lives with caring responsibilities would be badly hit by changes to the law. Worst hit, however, would be women with lower education levels, who were projected to lose up to 25% of their monthly pension entitlements...

April 15, 2019
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15Apr

Accounting for Pension Liabilities

By Katrin Brugger This book presents the US pension system and its development which is described by an overview of accounting standards and regulation boards and by comparing those to the International Financial Reporting Standard. The ideas of future pension plans and payments are underlined by an analysis of the demographic development in the US. Major pension plans are presented and information on: how participation is made, what kinds of benefits arise and who is eligible for those, is given....

April 15, 2019
Books, Books, System Sustainability, ,
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15Apr

Achieving Investment Excellence: A Practical Guide for Trustees of Pension Funds, Endowments and Foundations

By Kees Koedijk, Alfred Slager, Jaap Van Dam Achieving Investment Excellence offers trustees and asset managers a comprehensive handbook for improving the quality of their investments. With a stated goal of substantially and sustainably improving annual returns, this book clarifies and demystifies important concepts surrounding trustee duties and responsibilities, investment strategies, analysis, evaluation and much more. Low interest rates are making the high cost of future pension payouts fraught with tension, even as the time and knowledge required to manage these funds...

April 15, 2019
Books, Books, Investing,
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15Apr

Political Parties Do Matter In U.S. Cities… For Their Unfunded Pensions

By Christian Dippel Using data covering a wide range of municipal public-sector pension plans from 1962– 2014, I establish that unfunded pension benefits grow faster under Democratic-party mayors, using a regression discontinuity design (RDD) focusing on narrow mayoral races. Previous evidence shows that parties do not matter for a range of fiscal outcomes in U.S. cities, and suggests this is because Tiebout sorting imposes fiscal discipline. This paper shows that parties do matter for types of fiscal spending...

April 15, 2019
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15Apr

Workers’ Employment Rates And Pension Reforms In France: The Role Of Implicit Labor Taxation

By Didier Blanchet, Antoine Bozio, Simon Rabaté, Muriel Roger Over the last fifteen years, France has experienced a reversal of older workers’ labor force participation and employment rates. Changes in health, life expectancy or education levels over the period are trend variables and thus cannot explain this “U-shaped” time profile. Pension reforms and associated changes in monetary incentives to retire are a more plausible explanation. Their impact is measured by the implicit tax rate on working longer,...

April 15, 2019
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15Apr

The Dynamism of the New Economy: Non-Standard Employment and Access to Social Security in EU-28

By Sonja Avlijas (LIEPP - Sciences Po) This paper examines the prevalence of non-standard workers in EU-28, rules for accessing social security, and these workers’ risk of not being able to access it. It focuses on temporary and part-time workers, and the self-employed, and offers a particularly detailed analysis of their access to unemployment benefits. It focuses on eligibility, adequacy (net income replacement rates) and identifies those workers which are at the greatest risk of either not receiving benefits or...

April 15, 2019
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12Apr

México. Afores firmarán acuerdo climático con la ONU

Los principales inversionistas institucionales de México, entre ellos las administradoras de fondos para el retiro (afores), firmarán un acuerdo con Principles for Responsible Investment, de la Organización de las Naciones Unidas, bajo el cual se comprometerán a apegarse a las mejores prácticas de inversión responsable. “El Consejo Consultivo de Finanzas Verdes (CCFV) va a invitar a todos los miembros a suscribir el acuerdo para que una vez que lo suscriban, se comprometan a hacer inversiones responsables y si no...

April 12, 2019
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