September 2024
13Sep

The future of retirement security: An international comparison through the lens of adequacy, sustainability, equity and plan design

By Surya Kolluri, Catherine Reilly & David Richardson The average retiree can now expect to spend about two decades in retirement, roughly double the time from 50 years ago. Along with extended lifespans, the number of workers per retiree is declining around the world and ever fewer workers have access to defined benefit (DB) plans that promise a guaranteed income in retirement. Instead, most workers save for retirement through defined contribution (DC) plans, which do not automatically convert savings into...

September 13, 2024
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13Sep

The world’s largest pension funds – 2024

By Thinking Ahead Institute The global top 300 pension funds is an annual study conducted by the Thinking Ahead Institute, in conjunction with Pensions and Investments. The research highlights high-level trends in the pension fund industry and provides information on how the characteristics of these top funds have changed. Get the report here

September 13, 2024
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13Sep

Beyond the Status Quo: A Critical Assessment of Lifecycle Investment Advice

By Aizhan Anarkulova, Scott Cederburg & Michael S. O'Doherty We challenge two central tenets of lifecycle investing: (i) investors should diversify across stocks and bonds and (ii) the young should hold more stocks than the old. An even mix of 50% domestic stocks and 50% international stocks held throughout one’s lifetime vastly outperforms age-based, stock-bond strategies in building wealth, supporting retirement consumption, preserving capital, and generating bequests. These findings are based on a lifecycle model that features dynamic processes for...

September 13, 2024
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13Sep

Pensioners Without Borders: Agglomeration and the Migration Response to Taxation

By Salla Kalin, Antoine Levy & Mathilde Munoz  This paper investigates whether and why pensioners move across borders in response to tax rate differentials. In 2013, retirees relocating to Portugal became eligible to a full tax exemption of foreign-source pensions. Contrary to the broadly held belief that seniors "age in place", we find substantial international mobility responses to the reform, concentrated among wealthy and educated pensioners in higher-tax origin countries. The implied migration elasticity of the stock of foreign pensioners...

September 13, 2024
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13Sep

Care-Dependent Target Benefit Pension Plan with Minimum Liability Gap

By Ruotian Ti, Ximin Rong, Cheng Tao & Hui Zhao With the progressive aging of populations, the significance of long-term care (LTC) services in aging societies is growing. In this paper, we integrate LTC services with pensions, studying a stochastic model for a care-dependent target benefit pension (TBP) plan. The plan members' target benefit rates are set according to the care cost for three different health states, i.e., healthy, mildly disabled and severely disabled states. And the pension contributions reflect...

September 13, 2024
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11Sep

Preparación Financiera para el retiro en México. Aplicaciones del modelo interdisciplinario de la planeación financiera

Por Martha Isabel Bojórquez Zapata, Antonio Emmanuel Pérez Brito, Douglas A. Hershey & Jorge Humberto Basulto Triay Pasar a retiro en el México del siglo XXI no representa más un júbilo, ni tampoco una oportunidad para seguir enriqueciendo la calidad humana de la fase final del ciclo de vida. Hoy por hoy, jubilarse significa enfrentarse con muy magras pensiones. Un horizonte de atención médica, rehabilitación y envejecimiento incierto. Le incremento en la población en edad de retiro acontece en un...

September 11, 2024
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11Sep

Informe: seguridad social en México, 2023

Por Gabriela Mendizábal Bermúdez El informe sobre seguridad social en México destaca una serie de avances y retrocesos significativos. Económicamente, se observa un aumento en los ingresos, impulsado por remesas y un crecimiento en la población económicamente activa. La reducción de la pobreza se atribuye, entre otros factores, al aumento del ingreso y del salario promedio, así como cambios demográficos. La SCJN reafirma el derecho a la pensión por jubilación y emite criterios sobre seguridad social, abriendo la puerta parala...

September 11, 2024
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11Sep

Argentina: La reforma de las pensiones debe prevalecer. Carta de Amnistía Internacional al Congreso

Por Amnistía Internacional  El 2 de septiembre, el presidente Javier Milei vetó un proyecto de ley que había sido aprobado por el Congreso para mejorar las pensiones de las personas de edad avanzada, dada la gran pérdida de poder adquisitivo que han sufrido en los últimos meses. Instamos al Congreso a insistir en mejorar la ley como medida para garantizar un nivel de vida digno a las personas mayores. Fuente Amnesty.org

September 11, 2024
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06Sep

Positioning for change: Public pensions after the great moderation

By Institutional Investor Survey   Investors apparently predict 2023 will look much like 2022, as rising interest rates and market volatility also remained top of mind for decision-makers. They also forecasted another tough period for investment returns next year. Concerns over inflation and a potential economic downturn loomed large in our survey as asset allocation influences.1 The top three concerns for these decision-makers are the need to navigate high inflation, market volatility and rising interest rates. Get the report here

September 6, 2024
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06Sep

Pensions Dashboards Programme. Progress update report

By Pensions Dashboards Programme This is the 9th Pensions Dashboards Programme (PDP) progress update report, covering our work to deliver the technical solution and facilitate connection to the dashboards ecosystem. It looks back at our achievements since October 2023, as well as looking ahead to our focus areas for the next 6 months. After a legal connection deadline of 31 October 2026 was set last year, the Department for Work and Pensions (DWP) has now published a revised staged timetable for...

September 6, 2024
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