Speech by Michael D'Ascenzo (School of Taxation and Business Law, UNSW Business School) Strong growth in self managed super funds presents the community with a number of challenges. (more…)
By Ruiqi Tian (Southwest Jiao Tong University - Psychological Research and Counseling Center) & Ruilin Tian (North Dakota State University - Department of Accounting, Finance, and Information Systems) Pension becomes more and more important as people are living longer and pursuing higher living quality after retirement. This paper is to analyze the psychosocial factors that affect people’s pension demands in the US as well as in China. As two representative countries that have different pension systems, cultures, value systems, family...
By Robert Holzmann (University of Malaya; IZA Institute of Labor Economics; CESifo (Center for Economic Studies and Ifo Institute); World Bank), Jennifer Alonso-García (University of New South Wales (UNSW) - ARC Centre of Excellence in Population Ageing Research (CEPAR)), Heloise Labit-Hardy (University of New South Wales (UNSW) - ARC Centre of Excellence in Population Ageing Research (CEPAR)) & Andres Villegas (University of New South Wales (UNSW)) Strong and rising empirical evidence across countries finds that longevity is highly heterogeneous in...
By Jeffrey R. Brown, Arie Kapteyn, Erzo F.P. Luttmer, Olivia S. Mitchell & Anya Samek This paper examines two behavioral factors that diminish people’s ability to value a lifetime income stream or annuity, drawing on a survey of about 4,000 adults in a U.S. nationally representative sample. Our first main finding is that experimentally increasing the complexity of the annuity choice reduces respondents’ ability to value the annuity. We measure lack of ability to value an annuity by the difference...
By Henriette M. Prast (Tiburg University) & Federica Teppa (De Nederlandsche Bank) We investigate whether the quantitative frame used to communicate future pension income to plan members matters for perceived pension income adequacy. We allocate plan members randomly to one of four pension income framing conditions: annual pension income, monthly pension income, pension income as percentage of current income, pension income as decimal of current income. We find that expressing projected pension income as a percentage (decimal) of current income...
By Spankulova Seitkazievna (Narxoz University) In the article the labor behavior of women in education in post-Soviet countries is analyzed. model of employment of women (men as well), which was formed in Soviet years, has not undergone significant changes during the years of economic reforms. Expanding the accessibility of formal social security programs to the elderly has changed the behavior of this population in the labor market. Women do not receive social old-age pensions in the same amount as men,...
By Spankulova Seitkazievna (Narxoz University) In the article the labor behavior of women in education in post-Soviet countries is analyzed. model of employment of women (men as well), which was formed in Soviet years, has not undergone significant changes during the years of economic reforms. Expanding the accessibility of formal social security programs to the elderly has changed the behavior of this population in the labor market. Women do not receive social old-age pensions in the same amount as men,...
By Philip Bazel (University of Calgary - The School of Public Policy) & Jack Mintz (University of Calgary - The School of Public Policy; CESifo (Center for Economic Studies and Ifo Institute)) Canadians have heard a great deal of discussion in the national media about expanding the Canada Pension Plan (CPP), driven by concerns that many will retire without having made proper arrangements to adequately replace their incomes with pensions and savings. But the proposed remedies have been targeted at...
By Severine Arnold (-Gaille) (University of Lausanne - Faculty of Business and Economics) & Anca Jijiie (Faculty of Business and Economics) Solidarity, a key element of any social security system, can be defined as the total intended redistributions that take place between the existent groups within the system, with the purpose of helping each other. However, unintended redistributions also exist, affecting the fairness of the system and leading to animosities between these groups, in particular between active members and pensioners....
By M. Nicolas J. Firzli (World Pensions Council (WPC)) The 2017 Spring Meetings coincided with the surprise calling of snap general elections in the UK and military tensions in the Yellow Sea. Our postwar social contract has to cope with unprecedented shocks: Britain’s thorny withdrawal from the EU, worsening Migrant Crisis, rise in populist demagoguery. But there are also positive signs: the UN’s Sustainable Development Goals (SDGs) and new, more demanding governance norms are making unprecedented advances across the boardrooms of...
