It is well known that the UK is ageing. In 1976, only 14 per cent of the population was aged over 65, today it is 18 per cent, and in 2036 it is estimated to be 25 per cent. Over the same period, the median age is expected to rise from 34 to 43. The economic implications are widely seen as dismal. Fewer workers will lead to falling GDP growth, while rising pensions and medical costs will push government debt ever...
Este lunes arranca la 11 edición de la Semana Nacional de Educación Financiera a nivel nacional, evento que pretende crear consciencia en la población sobre la importancia de mantener finanzas sanas, prevenir gastos y evitar sobreendeudamientos. La Comisión Nacional para la Protección y Defensa de los Usuarios de Servicios Financieros (Condusef) recordó que durante la semana del 1 al 7 de octubre, los asistentes podrán aprender a mejorar sus finanzas mediante talleres, pláticas, juegos, conferencias obras de teatro, entre otros. “La...
En los últimos cinco años, la adquisición de seguros de vida con opción de ahorro para el retiro por parte de millennials se ha mantenido con un crecimiento de 11% anual -un crecimiento sostenido importante, pero aún pequeño considerando la necesidad de generar ahorro voluntario para su jubilación-, este dato muestra un mayor interés de esta generación por estar protegidos y generar un ahorro a largo plazo, destacó AXA México en el marco de la Semana Nacional de Educación...
El director general de Afore Coppel, Mauricio Alarcón, señaló que aumentar la aportación obligatoria para el retiro de los trabajadores mexicanos, de 6.5 a niveles de 15 o 17 por ciento, debería ser... El director general de Afore Coppel, Mauricio Alarcón, señaló que aumentar la aportación obligatoria para el retiro de los trabajadores mexicanos, de 6.5 a niveles de 15 o 17 por ciento, debería ser el primer paso en la reforma al sistema de pensiones de cuentas individuales. “Si...
Kenya requires a radical policy shift in order to cushion senior citizens from abject poverty, homelessness, illiteracy, diseases and social exclusion, campaigners said on Sunday on the eve of the International Day of Older Persons. The elderly campaigners said that promoting the welfare of the ageing population through robust social safety net programs is key to realize socio-economic progress in Kenya. "Today in Kenya, older activists are campaigning for universal quality healthcare, improved access to social protection, more affordable and accessible...
Record 16,590 people paying penalty on 2016-17 pension contributions The tax take from individuals paying a tax penalty for breaching the £40,000 annual allowance hit £517m ($673m, €580m) in the 2016-17 financial year – a huge increase from £143m in the previous year. The number of taxpayers reporting this through their tax returns reached 16,590, up from 5,430 in 2015-16. Meanwhile, the yield from those breaking the lifetime allowance (LTA) in 2016-17 reached £102m, involving 2,120 taxpayers, up from £66m and 1,180...
By Ratna Sahay ; Martin Cihak Women are underrepresented at all levels of the global financial system, from depositors and borrowers to bank board members and regulators. A new study at the IMF finds that greater inclusion of women as users, providers, and regulators of financial services would have benefits beyond addressing gender inequality. Narrowing the gender gap would foster greater stability in the banking system and enhance economic growth. It could also contribute to more effective monetary and fiscal policy....
By Robert J Brent (Fordham University) Cost–benefit analysis (CBA) is the basis for rational economic decision making, whether it is for the government or individuals. If benefits are greater than costs, then a project or activity should be expanded. If costs are greater than the benefits, the project or activity should be contracted. And if benefits equal costs, the existing scale of operations is optimal. A social CBA obtains its measurement principles concerning the benefits and costs from applied welfare...
By Metin Ilbasmis (University of Aberdeen) Marc Gronwald (University of Aberdeen; CESifo (Center for Economic Studies and Ifo Institute)) Zhao Yuan Jun (Donghua University) This paper investigates dynamic conditional correlations between stock and REIT markets in both Turkey and the U.S. We use an Asymmetric DCC - GJR - GARCH model to estimate the dynamic conditional correlation at daily, weekly, and monthly frequencies. Our contribution is threefold. First, we find a that downward trend in the daily conditional correlation in...
By Piera Bello (University of Lugano) Vincenzo Galasso (University of Lugano; Centre for Economic Policy Research) Aging creates financial troubles for PAYG pension systems, since the share of retirees to workers increases. An often advocated policy response is to increase retirement age. Ironically, however, the political support for this policy may actually be hindered by population aging. Using Swiss administrative voting data at municipal level (and individual survey data) from pension reforms referenda, we show in fact that individuals close...
