November 2023
03Nov

Aging, Healthcare System, and Interest Rates

By Reona Hagiwara Over the past few decades, the Japanese economy has experienced the widening gap between returns on liquid bonds and illiquid capital (i.e., the liquidity premium) due to a secular decline in the real interest rate and a slight increase in the capital return. This paper explores the role of the health or medical expenditure risk in the increase in the premium, using a general equilibrium overlapping generations model with heterogeneous agents that differ in health status and...

November 3, 2023
Aging, Articles, , , ,
Read more...
03Nov

The Impact of Population Aging on Financial Services and Economic Development

By Hongyu Fang With the increasing aging population, it has had a profound impact on the financial services industry and economy. This study aims to explore the effect of population aging on the financial service industry and economy and propose corresponding countermeasures and suggestions. The aging population has brought challenges to the financial services industry. The increase in the elderly population has led to a rise in demand for financial products and services. Financial institutions innovate and develop financial products...

November 3, 2023
Aging, Articles, , ,
Read more...
01Nov

Panorama y desafíos de la seguridad social en América Latina

Por Claudio Lara Cortés, Silvania Mejías Godoy, Lucia Cortes da Costa, Rosa María Marques, Solange Emilene Berwig, Katiuska King, César Carranza, Rosario Maldonado, Isalía Nava Bolaños, Abraham Granados Martínez, Luz Dary Naranjo Colorado, Carlos Martínez & Antonio Elías. Este libro reúne diez artículos que reflexionan sobre distintos aspectos del espacio problemático que habitualmente se denomina como “Seguridad Social” y que refieren a siete países de nuestra América Latina: Argentina, Brasil, Chile, Colombia, Ecuador, México y Uruguay. El contenido del conjunto es...

November 1, 2023
Caracterización del Sistema, Libros, Libros, Reportes, , ,
Read more...
01Nov

Fortalecimiento de los sistemas de pensiones con la seguridad social y la sostenibilidad en el centro: elementos para la discusión de reformas previsionales en América Latina a partir de la experiencia comparada

Por Juan Manuel Badilla Espinoza Los sistemas de pensiones en América Latina, en particular aquellos en los que se implementaron procesos de reformas estructurales tendientes a la privatización de la seguridad social durante las décadas de 1980 y 1990, no han logrado cumplir con uno de sus principales objetivos: otorgar montos adecuados de pensiones. Esta situación no solo es relevante al evaluar los resultados de los sistemas de pensiones que incluyen esquemas de capitalización individual, sino que toma mayor relevancia...

November 1, 2023
Caracterización del Sistema, Libros, Libros, Reportes, , , ,
Read more...
01Nov

Estimación del Impacto de Cambios en el Periodo de Cálculo de la Base Reguladora de los Nuevos Montos de Pensiones de Jubilación

Por Alejandro Muñoz-Julve & Roberto Ramos En este documento se estima, a partir de una muestra de altas de jubilación de 2019, el efecto que el período considerado para el cálculo de la base reguladora ejerce sobre la cuantía de la pensión inicial. En particular, en el análisis se calcula la cuantía inicial de las pensiones para períodos de cálculo que varían entre 15 y 35 años, así como el resultado de restringir dicho período a los años más favorables de cotización....

November 1, 2023
Artículos, Operaciones, , , ,
Read more...
01Nov

Sistema de pensiones y apoyo social a adultos mayores en México 1979-2019

Por Carlos Fernando Félix-Vega, Jeroen Spijker & Pilar Zueras  El presente artículo tiene como objetivo caracterizar el sistema de apoyo para la vejez construido desde la política pública en México. Para este efecto se presentará la evolución de tres elementos que componen la atención de las problemáticas de los adultos mayores en México: la institucionalidad, los mecanismos de acción y el sistema de pensiones. La institucionalidad surge con la creación y funcionamiento de los institutos nacionales para los adultos mayores...

November 1, 2023
Artículos, Caracterización del Sistema, , , ,
Read more...

October 2023
27Oct

Allianz Pension Report Latam special 2022

By Allianz Research Even before the pandemic, the pension systems of most Latin American countries ranked in the bottom third in international comparison of their long-term adequacy and sustainability in our last Global Pension Report. The Covid-19 pandemic has been a double blow with respect to pension systems’ adequacy: On the one hand, rocketing unemployment rates diminished the share of the labor force in formal employment that is covered by pension schemes; on the other hand, lower contributions to pension...

October 27, 2023
Books, Books, Reports, System Characterization, , , ,
Read more...
27Oct

Insights for helping employees build enduring financial wellness

By Always Designing for People Improving long-term financial wellness is a clear priority for many employees, according to a recent survey by Retirement Insights, LLC. Seventy-eight percent of survey respondents said they prefer saving for the future over spending on current needs. Yet, many of them find some pieces of the retirement planning puzzle to be unclear and would like financial education from their employer to help them with complicated calculations and decisions. You can fulfill this unmet need and make...

October 27, 2023
Books, Books, Reports, System Characterization, , ,
Read more...
27Oct

From PEPP to Corona: European Aspects of the Dutch Pension System

By Hans van Meerten In this contribution, I will address some salient points in the Dutch and European pension landscape. For instance, the state of affairs anno 2023 regarding the WTP and the 'EU Pension Union' (EPU) will be addressed. What developments are there and do they actually bring the signalled EPU (in 2015) closer or further away? In doing so, I would like to address two topics specifically: the internal market for pensions and developments regarding the Corona pandemic,...

October 27, 2023
Articles, Pension design, ,
Read more...
27Oct

Time Consistency in Optimal Retirement Planning

By Frank Bosserhoff, An Chen & Manuel Rach We study time consistency in optimal consumption problems of annuities and tontines. We find the annuity problem to be time-consistent, hence delivering the same optimal consumption at each time. The tontine problem, however, is found to be time-inconsistent, opening the possibility for individuals to increase or decrease their overall expected utility by changing the ex ante fixed consumption profile. However, such an increase in the utility of the tontine cannot lead to...

October 27, 2023
Articles, Pension design, ,
Read more...