April 2025

Adequacy of future retirement incomes: new evidence for private sector employees

By Jonathan Cribb, Laurence O'Brien & David Sturrock In this report and the accompanying report on policy recommendations (Cribb et al., 2024a), we focus on the outlook for the adequacy of employees’ retirement incomes and changes to automatic enrolment. We do not here consider reforms that we broadly define as aimed at changing investments, costs and returns (including ‘pot for life’ and collective defined contribution pensions) but will return to consider these later in the Pensions Review. A separate report...

Digital Transformation of Public Pensions a Case Study of Four European Countries

By Alina Mihaela This paper delves into the pension systems of four European nations – Lithuania, Latvia, Estonia and Romania – offering a comprehensive analysis of their respective structures, digitalization efforts and potential for harnessing artificial intelligence (AI) for public benefit. It paints a vivid portrait of the various approaches to pension systems and digitalization strategies in these four European countries. It illuminates the potential of AI and technology to drive progress in the public sector, ultimately improving citizen well-being...

Varying effects of public pensions: Pension spending and old-age employment under different pension regimes

By Kun Lee Socioeconomic consequences of pension reforms have often been discussed without careful consideration of institutional contexts, despite the fact that institutional designs of public pensions differ substantially across countries. This study argues that the outcomes of pension reforms vary depending on the institutional structure of public pensions, by showing that the associations between public pension spending and old-age employment rates of different socio-demographic groups vary across different institutional contexts. Using time-series cross-section data from 20 European countries and...

The role of CEOs in the sustainability of defined benefit pension plans

By Joanne Horton, Paraskevi Vicky Kiosse, Maria Koumenta & Evisa Mitrou The future of defined benefit (DB) pensions is a hotly debated topic in reward management. Drawing on agency and managerial power theories, the conditions under which CEOs can affect their sustainability have been examined. We show that when the CEO is a member of the same DB plan as their employees or when the CEO is both a member and a trustee of the plan, this affects the agency and power...

Retirement in the USA: The Outlook of the Workforce 25th Annual Transamerica Retirement Survey

By Transamerica Institute Retirement in the USA: The Outlook of the Workforce, a collaboration between Transamerica Center for Retirement Studies (TCRS) and Transamerica Institute, delves into the retirement prospects of the U.S. workforce including workers who are employed by others, self-employed workers, and workers who are unemployed but looking for work. Based on a survey of more than 6,100 members of the workforce, the report delves into their life priorities and outlook, personal finances, retirement expectations, and how they are saving,...

Awareness of the Government-Introduced Universal Pension Scheme Among the Adult Population in Bangladesh: A Nationwide Cross-Sectional Survey

By Sharmin Rima, Md. Mahir Faysal, Abdullah Al Mamun, Khadija Akter Sonia, Hossna Tasmia Monia, Anika Tahseen Nuva, Ahbab Mohammad Fazle Rabbi, Abdullah-Al-Mamun & Mohammad Hossain The Universal Pension Scheme (UPS) was introduced in Bangladesh in August 2023 to address economic security concerns for its growing older adults. Despite the government's numerous promotional efforts, the response rate to UPS remains modest. This study aimed to investigate awareness of the UPS among the Bangladeshi population. The study's sample size was 1624,...

Older Workers Face New Risks because of the COVID-19 Recession

By Siavash Radpour, Aida Farmand & Teresa Ghilarducci For the large cohort of older workers, the significant difference between the COVID-19 recession and previous ones is the combined effect of the economic recession and the health risks of the COVID-19 outbreak. Older workers are facing the high health risks of working during a pandemic, on the one hand, as well as the risk of losing their jobs, on the other hand, which can lead to significantly lower wages in the...

Population Aging, Digital Financial Inclusion, Development Strategies and Economic Resilience

By Dongsong Cai, Ling Long, WanHuan Cai & Xin Wang As China enters into a deeply aging society, China's demographic development has come to an unprecedented stage of great transition, which also has an impact on economic resilience. Based on the perspective of new structural economics, the relationship between population aging and economic resilience is explored. Meanwhile, empirical tests using provincial panel data find that, firstly, there is a positive effect of population aging on economic resilience, i.e., population aging...

Avances y desafíos en la implementación del sistema de pensiones no contributivo en la República Dominicana

Por Manuel Delgado, Nincen Figueroa & Juan Vila  Los sistemas de pensiones no contributivas se han constituido en un elemento fundamental en los sistemas de protección social de la región, debido a su rol en el aseguramiento de los ingresos de las personas mayores, la reducción de las desigualdades y la erradicación de la pobreza en la vejez. La consolidación de estos sistemas ha posibilitado una mayor sostenibilidad de los sistemas de pensiones de la región en términos de cobertura...

Iniciativas de Reforma en materia de Pensiones y Vivienda

Por Deloitte  Se plantea establecer a través de modificaciones al artículo 123 Constitucional que las personas trabajadoras con 65 años que empezaron a cotizar a partir del 1° de julio de 1997 en la Ley del Seguro Social, así como las personas trabajadoras que estén bajo el régimen de cuentas individuales que cotizan en el Instituto de Seguridad de Servicios Sociales de los Trabajadores del Estado tendrán derecho a que su pensión de retiro. Fuente Deloitte Touche Tohmatsu Limited