January 2023
13Jan

Towards construction of comprehensive care systems in Latin America and the Caribbean: ELEMENTS FOR IMPLEMENTATION

By ECLAC The Latin American and Caribbean region is experiencing an unprecedented economic and social crisis. The effects of the coronavirus disease (COVID-19) pandemic have spread to all spheres of human life, hurting economies, changing the way we interact, and causing extensive societal changes. The crisis has highlighted and exacerbated structural gaps, deepening pre-existing inequalities and exposing the vulnerabilities of political, economic, and social protection systems. The onset of the crisis magnified the structural challenges of gender inequality, reversing much...

January 13, 2023
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13Jan

2021 ESG Report. Government Pension Investment Fund

 By: Government Pension Investment Fund Government Pension Investment Fund (GPIF) manages and invests Japan’s pension reserve fund, which is used to pay Employee Pension Insurance and National Pensions. We contribute to the stability of the pension system by earning returns on our investments and distributing these to the government ESG is the acronym for Environmental, Social, and Governance. While investors have traditionally used cash flows, profit margins and other quantitative financial data to value a company’s equity or other securities, “ESG...

January 13, 2023
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13Jan

The Effect of Required Minimum Distributions on Intergenerational Transfers

By: Jonathan M. Leganza How do households use retirement savings accounts in retirement? The answer to this question is important for tax policy pertaining to retirement savings. I shed light on this question by studying how households respond to Required Minimum Distribution (RMD) regulations, which mandate withdrawals from retirement accounts upon reaching a specified age. Using data from the Health and Retirement Study and a regression discontinuity design, I estimate the causal effects of aging into RMD regulations. First, I...

January 13, 2023
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13Jan

Long-Term Real Dynamic Investment Planning

By Russell J. Gerrard, Munir Hiabu, Jens Perch Nielsen & Peter Vodička When long-term savers plan for retirement they need to know their investment prospects in terms of real income (Merton, 2014). While inflation has traditionally been considered as a complication in financial analysis and financial practise, we obtain enhanced predictability and model fit if the real returns are targeted in conjunction with earnings-by-price minus inflation as predictor. For this latter case, we propose an investment strategy of updating the...

January 13, 2023
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13Jan

Secure Act 2.0: A Missed Opportunity to Enhance Retirement Equity

By Albert Feuer SECURE Act 2.0, which was enacted on December 29, 2022, represents a missed opportunity to enhance retirement equity. The Act’s 92 provisions provide small new tax incentives to those American workers struggling to save for a comfortable retirement, larger tax incentives to those with few retirement concerns, more complex retirement tax rules, and weaken compliance rules that are primarily applicable to those with few retirement concerns. Source @Papers

January 13, 2023
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13Jan

Colombia. Envejecimiento de la población, entre los mayores desafíos de reforma pensional

Según el informe de la Federación Internacional de Administradoras de Fondos de Pensiones, el actual contexto mundial le está imponiendo un reto a los países y sus distintos sistemas pensionales, los cuales deben ajustarse a esas nuevas circunstancias, en las que las expectativas de vida continúan aumentando, mientras avanza el proceso de envejecimiento de la población. Cifras del sistema indican que solo en Colombia hay unas 7,3 millones de personas mayores de 60 años en la actualidad, pero en tan...

January 13, 2023
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13Jan

El Salvador. Pensionados comenzarán a aportar de nuevo para AFP

La nueva ley de pensiones establece que este nuevo aporte que va a sus cuentas individuales de ahorro les debe ser devuelto cada año, pero no así el 6 % que va para la cuenta solidaria. Modificaciones La reforma de pensiones acaba de entrar en vigencia en El Salvador. El BCR emitió varias normas relacionadas | Foto: archivo EE Quienes ya se jubilaron y ya gozan de una pensión, pero siguen trabajando, van a comenzar a experimentar descuentos en sus ingresos...

January 13, 2023
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13Jan

UN report calls for re-thinking social protection as the world ages

The World Social Report 2023 calls for concrete measures to support the greying global population, amidst escalating pension and healthcare costs. Population ageing is a defining global trend of our time, according to the study, published by the UN Department of Economic and Social Affairs (DESA). Countries can reap the benefits by giving everyone the chance to grow older in good health by promoting equal opportunities from birth. “Together, we can address today’s inequalities for the benefit of tomorrow’s generations, managing the...

January 13, 2023
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13Jan

US. The Value of Corporate Pension Assets Fell Dramatically. Here’s Why That Doesn’t Matter

Corporate pension funds had a boring year — if the only measure you look at is funded status. After all, according to WTW data published recently, funded status — the amount a pension has on hand to meet obligations — stayed flat year-over-year at 95 percent. Goldman Sachs data on corporate plans, meanwhile, estimates that funded status increased, from 98 percent in 2021 to 100 percent in 2022. But these numbers obfuscate the level of volatility that corporate plan investors faced...

January 13, 2023
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13Jan

UK Actuary Responds to Work and Pensions Committee Over LDI Issues

The Government Actuary’s Department (GAD) has assisted the Work and Pensions Select Committee with its inquiry into defined benefit pensions with Liability Driven Investments (LDI). The Government Actuary, Martin Clarke, was pleased to share his perspectives on the LDI issue in response to the Committee’s questions. Pensions and investment GAD’s knowledge and involvement with LDI is unique as we work with schemes that use leveraged LDI. We also work with government departments that support the pensions and investment industry. Discussions on the LDI...

January 13, 2023
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