September 2018

China’s Pension Reforms: Political Institutions, Skill Formation and Pension Policy in China (China Policy Series)

By Ke Meng Existing literature has looked at many factors which have shaped Chinese pension reforms. As China’s pension reform proceeds in an expanding and localising fashion, this book argues that there is a pressing need to examine it in the context of China’s political institutions and economic transformations. The book takes a unique approach by looking at political institutions of the Chinese state and the changing conditions of the Chinese economy, which rarely receive proper treatment in the current...

China's Pension Reforms: Political Institutions, Skill Formation and Pension Policy in China (China Policy Series)

By Ke Meng Existing literature has looked at many factors which have shaped Chinese pension reforms. As China’s pension reform proceeds in an expanding and localising fashion, this book argues that there is a pressing need to examine it in the context of China’s political institutions and economic transformations. The book takes a unique approach by looking at political institutions of the Chinese state and the changing conditions of the Chinese economy, which rarely receive proper treatment in the current...

Advances in the Practice of Public Investment Management: Portfolio Modelling, Performance Attribution and Governance

By Narayan Bulusu ,‎ Joachim Coche,‎ Alejandro Reveiz,‎ Francisco Rivadeneyra,‎ Vahe Sahakyan,‎ Ghislain Yanou This book covers the latest advances in the theory and practice of public investment management. It includes the most up-to-date developments in the implementation of public asset management - including multiple contributions on portfolio allocation in varying interest-rate and credit-risk environments. Other highlights include implementation, performance attribution and governance issues surrounding reserves management, portfolio construction techniques appropriate for public investors and an in-depth discussion of the...

What Age Do You Feel? – Subjective Age and Economic Behaviors

By Zihan Ye (Zhejiang University - College of Economics) & Thomas Post (Maastricht University - School of Business and Economics - Department of Finance; Netspa) Building on recent findings in psychology, we study the impact of subjective age (feeling younger or older than one’s chronological age) on economic behaviors. Using data from the Health and Retirement Study we find that subjective age predicts economic behaviors: Individuals with younger age identities have higher work engagement, and their savings profile, as a...

State Pension Accounting Estimates and Strong Public Unions

By Samuel B. Bonsall (Pennsylvania State University - Department of Accounting), Joseph Comprix (Syracuse University) & Karl A. Muller (Pennsylvania State University - Department of Accounting) Concerns are commonly raised that strong public unions extract generous pension benefits from state governments and are the cause of states’ burdensome pension obligations. Prior research (Anzia and Moe 2015) finds evidence supporting such concerns. Consistent with incentives to minimize such perceptions, our findings suggest that state pension plans with stronger public unions select...

Pensionomics

By Mario Arturo Ruiz Estrada (University of Malaya: Social Security Research Centre (SSRC)) This paper explores the concept of pensionomics as a prospective tool of pension evaluation. The paper suggests a paradigm shift: a multidisciplinary synthesis of differing perspectives in evaluating pension overall performance based on past work on pension evaluation, incorporating non-economic variables with significant impact on economic growth and social development. The paper suggests a new analytical tool called “Pensions Consistency (PC) Index” that identifies the level of...

August 2018

Guatemala. Convenio busca transparentar las pensiones

Facilitar el intercambio de información sobre los pagos del Programa de Aporte Económico al Adulto Mayor (PAM), es el objetivo del convenio firmado ayer entre el Ministerio de Trabajo y Previsión Social (Mintrab) y el Instituto Guatemalteco de Seguridad Social (IGSS), con lo cual se evitará la duplicidad de los cobros por dicho beneficio. Este acuerdo plantea la instalación de una mesa técnica que dará seguimiento y hará las consultas pertinentes para el puntual funcionamiento de esta colaboración interinstitucional, cumpliendo...

Chile. Superintendencia de Pensiones planea simplificar el traspaso de afiliados entre AFP

La Superintendencia de Pensiones (SP) puso en consulta pública una nueva norma que busca facilitar y simplificar el traspaso seguro entre AFP. Para esto, se permitirá efectuar dichas transacciones sin necesidad de que exista un enrolamiento previo por parte del usuario o que éste con anterioridad deba obtener una clave de seguridad, como ocurre hoy. Desde la SP esperan que esta nueva norma incentive a “la competencia entre administradoras y que los trabajadores premien a aquellas que les brinden un...

Perú. ¿ONP o AFP? Una tercera alternativa

La primera pregunta que nos hacemos es: ¿por qué las AFP cobran como comisión un porcentaje de los sueldos de los aportantes para su beneficio, si ellos en realidad trabajan con una décima parte del ingreso salarial del trabajador? Para esclarecer este cuestionamiento, expondremos lo siguiente: cuando uno tiene un excedente de liquidez y quiere que le rinda beneficios, acude a una entidad financiera y le indica que tiene una determinada cantidad de dinero en efectivo que desea invertir para...

Australia. RBA says outage won’t hit pension payments

Pensions and welfare payments do not appear to have been affected by the outage at the Reserve Bank of Australia’s main data centre that hit some payments systems on Thursday afternoon. In a statement issued on Thursday evening, Australia’s central bank said that “retail and corporate customers are able to make and receive payments including payments made through the New Payments Platform.” Crucially, the RBA said “domestic payments, including pensions, are also being processed.” The prospect of government payments being hit by...