admin, Author at Pension Policy International

09JanJanuary 9, 2023

España. Estos son los cambios en las pensiones de jubilación en 2023

Con la llegada del nuevo año el sistema de pensiones español ha experimentado varias modificaciones que afectan a distintas materias. Estos cambios ya han entrado en vigor y tienen su origen en las reformas aprobadas en la última década para hacer más sostenible dicho sistema de pensiones, especialmente con la llegada de las jubilaciones de la generación del 'baby boom'. Las pensiones contributivas de jubilación, el grueso de este tipo de prestaciones (6,28 de los 9,93 millones que se abonan...

January 9, 2023

Noticias, NoticiasAhorro, Edad de retiro, España

09JanJanuary 9, 2023

Bracing for the silver tsunami

Since 2011, sales of adult diapers in Japan have outpaced those for infants, reflecting a decline in the country’s fertility rate (live births per woman) from 3.66 in 1950 to around 1.5 by the early 1990s. Since then, Japanese fertility has remained stuck far below the “replacement rate” (2.1), amounting to a mere 1.3 in 2021. And geriatric Japan is not alone. Fertility rates have also dropped below the replacement level in all eurozone countries, and they are strikingly low...

January 9, 2023

NewsAging, Japan, Labor Market

09JanJanuary 9, 2023

How world’s biggest funds are preparing for a cash crunch

In a year of disease, war and inflation, one event struck fear into the heads of Australia’s super funds more than any other. That was October’s UK pension crisis which, had it not been for the intervention of the Bank of England, would have rendered many pension funds insolvent. While most Australian super funds would say they think deeply about ensuring they are never caught without enough emergency cash, that episode brought home just how quickly a liquidity crisis can evolve. The...

January 9, 2023

NewsAustralia, Investment, Pension Management, UK

09JanJanuary 9, 2023

France. Macron’s Pension Reform May Get Nod From Opposition Republicans

French President Emmanuel Macron’s plan to increase the retirement age to preserve the financial balance of the national pension system may get the backing of the Republican opposition party, its leader Eric Ciotti said. An overhaul that would progressively raise the retirement age from 62 currently to 64 in 2032 may be acceptable, the president of the conservative party said in an interview published Sunday in Le Journal du Dimanche. Raising the smallest minimum pensions will be key to clinching...

January 9, 2023

NewsFrance, Pension Reform

09JanJanuary 9, 2023

China. Authorities mull measures to address aging population

Moves may include the gradual raising of the national retirement age and changes to the ways senior care is funded. Li Lei reports. As officials wrapped up 12 months of work and planned for the future at closely watched meetings that marked the end of the year, issues involving older people came under the spotlight. Data published by the National Health Commission in October showed that 267 million people, or 18.9 percent of the population, were age 60 and older. That meant...

January 9, 2023

NewsAging, China, Retirement Age

06JanJanuary 6, 2023

Pension Fund Statistics – Q3 2022

By Central Bank of Ireland Total assets of the Irish pension fund sector fell by 2.5 per cent (€3 billion) over Q3 2022 to stand at €117 billion. This continues a trend across the year to date with assets down 14.9 percent on the series high of €137 billion at end-2021. Technical reserves relating to pension entitlements of Irish pension funds decreased in Q3 2022. 1 Defined contribution (DC) technical reserves fell as a result of falls in corresponding asset values. Defined benefit...

January 6, 2023

Books, Books, Reports, System Characterization2023, Ireland, Pension Management

06JanJanuary 6, 2023

Occupational pensions statistics

By European Insurance and Occupational Pensions Authority EIOPA provides statistical data on how institutions for occupational retirement provision in the EU and the European Economic Area (EEA) perform. The statistics contain aggregated country level information about the basic information, balance sheet, asset exposures, expenses, member data, contributions, benefits, and transfers. Data refers to the latest information available for each reference date. Our statistics are based on quantitative pensions data reports. Occupational pension institutions in the EU and the European Economic Area (EEA)...

January 6, 2023

Books, Books, Reports2022, EU, Pension Management, savings

06JanJanuary 6, 2023

Standardized, Unitized, Accretive Longevity Insurance: Lessons from the Differing Demand for Annuities and Life Insurance

By Andrew Stumpff Morrison The historic U.S. shift from defined-benefit to defined-contribution employer-sponsored retirement plans has produced, among other things, a reduction in sharing of the risk of outliving one’s retirement savings. Commercial annuity contracts are available to insure this risk, but despite efforts to encourage their acquisition, few people own them. Close comparison with another life-cycle risk – that addressed by life insurance, which is more widely purchased by consumers – highlights as a probable reason for this low...

January 6, 2023

Articles, Pension design2022, Behavioral Science, Defined Contribution, Income, Pension Payout

06JanJanuary 6, 2023

Optimal Retirement with Disability Pensions

By Hans Fehr & Adrian Fröhlich This paper develops a general equilibrium life-cycle model with endogenous retirement and disability risk, in order to quantify the impact of recent pension reforms in Germany. At certain ages households may either apply for disability pensions (DP) or old-age pensions (OAP), de-pending on eligibility rules and the generosity of the two programs. Our policy analysis focus on the increase in the normal retirement age (NRA) from age 65 to 67 (Reform 2007) and the recent...

January 6, 2023

Articles, Pension design2022, Pension Payout

06JanJanuary 6, 2023

The Effect of Pension Wealth on Employment

By Sebastian Becker, Hermann Buslei, Johannes Geyer & Peter Haan This study provides novel evidence about the pension wealth elasticity of employment. For the identification we exploit reform-induced variation of pension wealth that is related to the number of children but which does not affect the implicit tax rate of employment. We use a difference-in-differences estimator based on administrative data from the German pension insurance and find that, on average, the negative employment effect of pension wealth is significant and economically...

January 6, 2023

Articles, Pension design2022, Gender Gap, Labor Market, Pension Reform

January 2023