February 2024
16Feb

What could effective pensions engagement look like?

By Pensions Policy Institute This report, kindly sponsored by Standard Life, builds on the findings of the Briefing Note 136 - What is the role of engagement in pensions?, sets out the broad range of factors that can impact the level of engagement that can feasibly be achieved, the benefits and risks associated with engagement and the ways in which engagement strategies could be strengthened, including what other support may be needed for those who are less likely to become...

February 16, 2024
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12Feb

The Role of AI to Enhance Retirement Savings: The Gender Gap Challenge

By Anabel Martínez Colín AI is the biggest disruptor in the financial sector, where there are many AI solutions at work, and the role of AI over it is well documented. However, the deployment of AI in the pension segment is still at an exploratory stage, and its influence on the gender gap in pensions is still unclear. This research explores the relationship between AI readiness and the gender gap in pensions (GGP), which may also be statistically significant. In addition,...

February 12, 2024
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02Feb

The Purpose of Pensions

By Tom Shields & Jesse Griffiths  The pensions the system needs major reform: it is not delivering decent, secure retirement incomes for all, it excludes far too many, and it is not playing a big enough role in delivering a just, green transition, or supporting an inclusive, sustainable and productive economy. This paper reviews all proposals for change, and recommends five key sets of reforms that could ensure that the pensions system works for people, the economy, and the environment. Get...

February 2, 2024
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January 2024
26Jan

Public Pension Funding Index January 2024

By Rebecca A. Sielman & Richard L. Gordon  Two consecutive months of positive market performance in November and December 2023 pushed the funded status of the 100 largest U.S. public pension plans to its highest point of 2023. The plans’ estimated funded status increased from 72.4% as of October 31, 2023, to 75.9% as of November 30, 2023, and further increased to 78.2% as of December 31, 2023, as measured by the Milliman 100 Public Pension Funding Index (PPFI). Get the...

January 26, 2024
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26Jan

Planning for a pension scheme buyout

By Katherine Russell, Melissa Wongand & Alice Fletcher The bulk annuity market has seen an increase in full scheme buy-ins, which is a significant milestone for any pension scheme. However, there are still lots to do before the buy-in is converted to a buyout and the pension scheme can be wound up. Katherine Russell, Melissa Wong and Alice Fletcher highlight the key steps and considerations following a full scheme buy-in. Get the report here

January 26, 2024
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19Jan

PPF 7800 Index

By Pension Protection Fund The PPF 7800 Index tracks the level of underfunding risk in the PPF-eligible universe using the latest scheme return information provided to The Pensions Regulator and the roll- forward methodology used for PPF levy purposes. There are certain simplifications within the levy calculation, as described in note 4 on page 7 of this document, that should be borne in mind when interpreting these results. In particular, the assets and liabilities have not been reduced for benefit...

January 19, 2024
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19Jan

Pension Funding Index January 2024

By Zorast Wadia The funded status of the country’s 100 largest corporate pension plans, as measured by the Milliman 100 Pension Funding Index (PFI), experienced a modest improvement in 2023, driven by annual investment returns of 9.94%. Declining discount rates, particularly in the fourth quarter, and the corresponding liability (i.e., the projected benefit obligation) increase of 8.33% served to partially offset the asset gains, resulting in a funded status improvement of $4 billion for the year. This gain paled in...

January 19, 2024
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12Jan

Fast Facts & Figures About Social Security, 2023

By Social Security Administration  People contribute to Social Security through payroll taxes or self-employment taxes, as required by the Federal Insurance Contributions Act (FICA) and the Self-Employment Contributions Act (SECA). The maximum taxable amount is updated annually on the basis of increases in the average wage. Of the 181 million workers with earnings in Social Security–covered employment in 2022, about 7% had earnings that equaled or exceeded the maximum amount subject to taxes, compared with 3% when the program began...

January 12, 2024
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12Jan

The State of Pensions 2023: Year End Update

By Anthony Randazzo & Jonathan Moddy  In 2023, U.S. public pension funds remain fragile. According to Equable Institute’sState of Pensions 2023 report, state and municipal retirement systems are on track to miss their investment targets and are unlikely to see meaningful improvements in their unfunded liabilities or funded ratio in 2023. In this post, we will look at pension funding trends and detail the health of pension funds in an increasingly unpredictable market and where risky investments are more popular than ever....

January 12, 2024
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December 2023
15Dec

Pensions at a Glance 2023: OECD and G20 Indicators

By OECD The 2023 edition of Pensions at a Glance highlights the pension reforms undertaken by OECD countries over the last two years. It includes a special chapter focusing on pension provisions for hazardous or arduous work. It describes existing rules, characterises recent policy trends and assesses the design and functioning of early-retirement rules for hazardous or arduous jobs given changing working conditions and ageing pressure on pension systems. This edition also updates information on the key features of pension provision in...

December 15, 2023
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