October 2017

16Oct

How the Growing Gap in Life Expectancy May Affect Retirement Benefits and Reforms

By Alan J. Auerbach, Kerwin K. Charles, Courtney C. Coile, William Gale, Dana Goldman, Ronald Lee, Charles M. Lucas, Peter R. Orszag, Louise M. Sheiner, Bryan Tysinger, David N. Weil, Justin Wolfers, Rebeca Wong Older Americans have experienced dramatic gains in life expectancy in recent decades, but an emerging literature reveals that these gains are accumulating mostly to those at the top of the income distribution. We explore how growing inequality in life expectancy affects lifetime benefits from Social Security,...

October 16, 2017
Articles, Funding, Labor Market, Regulation,
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09Oct

Saving the Next Billion from Old Age Poverty. Global Lessons for Local Action

This Book Project is the first of a series of initiatives by pinBox to jumpstart a global dialogue and collaborative action on pension inclusion across Asia, Africa and Latin America. The Book presents the policy outlook, past efforts and planned interventions by several developing countries as well as thematic chapters on the key principles and issues in design and implementation of inclusive pension arrangements. This book was realeased on October 12 on the pinBox Digital Micro-Pension Inclusion Roundtable 2017 For more information...

October 9, 2017
Adequacy, Aging, Articles, Books, Corporate Governance, Funding, Investing, Labor Market, Management, News, Pension design, Regulation, Savings, Slider, Supervision, System Sustainability
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02Oct

pinBox Digital Micro-Pension Inclusion Roundtable 2017

On 12 October 2017, pinBox Solutions and the Walsh School of Foreign Service at Georgetown University are co-hosting the first global policy roundtable on digital microPension inclusion. The roundtable co-sponsored by UNCDF, PFIP, CEM Benchmarking, Center for Financial Inclusion at Accion and microPension Foundation. The roundtable will be platform for the global launch of the new book titled Saving the Next Billion from Old Age Poverty: Global Lessons for Local Action. This book is co-edited by Parul Seth Khanna, William...

October 2, 2017
Adequacy, Aging, Event, Funding, Investing, Labor Market, Management, Slider-Left
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02Oct

Life Insurance as a Retirement Income Tool

By Russell DeLibero & Wade D. Pfau (The American College; McLean Asset Management) Given its tax-preferential treatment, careful study is warranted to determine whether life insurance can play an important role in an overall retirement portfolio. This study develops hypothetical scenarios for different types of individuals with varying ages and distribution periods, while using a historical outlook to determine the proper structure of a variable universal life insurance policy. We compare a variable universal life policy to different investment vehicles...

October 2, 2017
Adequacy, Articles, Labor Market, Savings,
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September 2017

24Sep

Simplifying Choices in Defined Contribution Retirement Plan Design: A Case Study

By Donald B. Keim (University of Pennsylvania) & Olivia S. Mitchell (University of Pennsylvania; National Bureau of Economic Research) The growth and popularity of defined contribution pensions, along with the government’s increasing attention to retirement plan costs and investment choices provided, make it important to understand how people select their retirement plan investments. This paper shows how employees in a large firm altered their fund allocations when the employer streamlined its pension fund menu and deleted nearly half of the...

September 24, 2017
Articles, Investing, Labor Market, Savings,
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15Sep

Nudging Retirement Savings: A Field Experiment on Supplemental Plans

By Robert L. Clark, Robert G. Hammond, Melinda Sandler Morrill, Christelle Khalaf Although supplemental saving plans can be an important part of an individual's financial security in retirement, contribution rates remain low, particularly among those with lower salaries and less education. We report findings from a field experiment that distributed an informational nudge containing information on key aspects of the employer-provided supplemental saving plans of older public employees in North Carolina. Among workers participating in a supplemental plan, individuals who...

September 15, 2017
Articles, Investing, Labor Market, Pension design, Slider-Left
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08Sep

Financial Literacy and Inclusive Growth: Challenges and Opportunities

By Dinesha P. T. Sr. (University of Mysore) In India, financial literacy could now be only for the disadvantaged needy / underprivileged / poor but this is a continuous process where all citizens of the country should be periodically educated, which would become a certain tool to pave for the economic growth and the strength of the country. Recently our Prime Minister has announced series of ambitious social security schemes, relating to the pension and insurance sector and intended at...

September 8, 2017
Adequacy, Articles, Labor Market, Slider-Left, ,
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01Sep

Do Good Working Conditions Make You Work Longer? Evidence on Retirement Decisions Using Linked Survey and Register Data

By Petri Bockerman (Labour Institute for Economic Research; University of Turku) and Pekka Ilmakunnas (Aalto University School of Business) We analyze the potential role of adverse working conditions and management practices in the determination of employees' retirement behavior. Our data contain both comprehensive information regarding perceived job disamenities, job satisfaction, and intentions to retire from nationally representative cross-sectional surveys and information on employees' actual retirement decisions from longitudinal register data that can be linked to the surveys. Using a trivariate...

September 1, 2017
Adequacy, Aging, Articles, Labor Market, ,
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01Sep

Debt and Financial Vulnerability on the Verge of Retirement

By Annamaria Lusardi, Olivia S. Mitchell & Noemi Oggero We analyze older individuals’ debt and financial vulnerability using data from the Health and Retirement Study (HRS) and the National Financial Capability Study (NFCS). Specifically, in the HRS we examine three different cohorts (individuals age 56–61) in 1992, 2004, and 2010 to evaluate cross-cohort changes in debt over time. We also use two waves of the NFCS (2012 and 2015) to gain additional insights into debt management and older individuals’ capacity...

September 1, 2017
Aging, Articles, Labor Market, Savings, Slider-Left, , ,
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August 2017

29Aug

Inmigracion y Sostenibilidad del Sistema de Pensiones En España

Por Carlos Borondo, Zen N Jim Nez-Ridruejo Ayuso, Carmen Lorenzo Lago Los procesos migratorios alteran sustancialmente los vinculos existentes entre las cotizaciones y las prestaciones en los sistemas publicos de pensiones. En el caso de Espana la evolucion demografica y del mercado de trabajo se han visto profundamente modificados por la presencia de un intenso flujo de inmigrantes, que han influido de un modo manifiesto sobre el balance y la capacidad del sistema de pensiones publicas de jubilacion, mejorando las...

August 29, 2017
Books, Labor Market, Regulation, System Sustainability, ,
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