March 2026

Non-contributory Pension Programs and Intra-household Inequality

By José L. Casco Non-contributory pension schemes are increasingly prevalent as countries seek to combat poverty, yet their role in shaping inequality remains underexplored. This paper studies how such programs alter intra-household inequality using data from Mexican household income and expenditure surveys. The analysis first examines a local pension program in Mexico City, embedding an age-based quasi-experimental design to identify beneficiaries within a structural model of extended households. Results show that the program shifted resources from men to women and...

Mortality Risk Valuation in Policy Assessment. A Global Meta-Analysis of Value of Statistical Life Studies

By OECD Policymakers are often faced with decisions affecting human health and mortality risk. For example, new vehicle fuel efficiency standards may lead to higher costs for consumers but could also save lives by improving air quality in urban areas, thus creating a trade-off between economic costs and the value of reducing mortality risk. Yet, too often, these economic trade-offs are not assessed in a systematic manner using a consistent methodology. This report aims to equip policymakers with the methodologies and economic...

Managing Retirement Risk: Policy Choices in Pension Fund Administration

By Fawaz Adediran & Oluwatobiloba Yomi-Oshatimi This article critically examines the legal and institutional framework governing pension administration and Pension Fund Administrators in Nigeria under the Pension Reform Act 2014. It analyses the structure of the contributory pension scheme, focusing on the statutory separation between Pension Fund Administrators and Pension Fund Custodians as well as the fiduciary obligations imposed on administrators, and the supervisory mandate of the National Pension Commission. The study situates Nigeria's pension reforms within the broader global...

February 2026

Mission Driven Public Sector Pension Investment Board

By PSP Investments  Our mission inspires us. Together with our mandate. it shapes how we invest. We focus on the long term and seek to caretully consider sustainability-related risks and opportunities that may affect long-term value creation and the resilience of our portfolio. We are progressively embedding accountability for sustainability across the organization. As we proceed, we are learning and evolving our strategies with the aim of reaching better investment outcomes and improving our ability to deliver on our mandate. This report...

Multidisciplinary Pathways to Retirement Financial Literacy: An Experimental Comparison of Gamified and Infographic Interventions

By Chrizaan Grobbelaar & Liezel Alsemgeest Due to population ageing and a decline in the working-age population, retirees can no longer rely on government support in retirement, making financial literacy even more important for society to plan for retirement. The current low financial literacy levels globally are evident in the vast number of retirees retiring unprepared. Educating a society on the basics of financial literacy is not enough for them to make sense of pension rules, tax implications, or make...

January 2026

Pension Economics

By Torben M Andersen A coherent introduction to the economics of pensions is provided to give the reader insights in the many objectives addressed by pension systems and the design possibilities available. The text offers an in-depth overview of the literature and its main insights and conclusions with sufficient rigor to understand the basic mechanisms, but without excessive technical details, focusing on the intuition and implications of the results. The pros and cons of different pension schemes are discussed from...

November 2025

Enhancing Efficiency of Pension Schemes through Effective Risk Governance: A Kenyan Perspective

 By Sylvester Willys Namagwa The efficiency of pension schemes in Kenya invites elevated interest owing to the increasing pension contribution amounts and the expectation that benefits paid out of these schemes would protect members from old age poverty. The study investigates the intervening effect of risk management on the relationship between corporate governance and the efficiency of pension schemes in Kenya. The study employs panel data consisting of 896 observations from 128 schemes in a sample period from 2015 to...

Retirement reality: Managing money in mid-retirement

By Aviva People in their mid-70s overwhelmingly report that they want the security of an income for life, yet very few are confident that their savings will last. Many underestimate how long they need to budget for and tend not to engage with ongoing planning as they age. Modelling shows the risks of remaining in drawdown and the benefits of Flex First, Fix Later solutions that include later-life annuitisation as a way of addressing these challenges. Such an approach would...

Hidden in Plain Sight: Physical Risk in Asset Owners’ Portfolios

By Xinxin Wang, Jascha Lehmann, Russ Bowdrey & Lisa Eichler Corporate asset locations are a critical source of financial-risk intelligence for investors. More so when coupled with powerful overlays related to physical climate risk. MSCI’s new study, conducted in collaboration with Swiss Re Risk Data Solutions, analyzed more than 11,000 companies and 500,000 physical assets underpinning the listed-equity portfolios of 18 leading asset owners, representing USD 4 trillion in AUM. Location isn’t just geography, it’s financial risk exposed. The location of companies’...

October 2025

International Pension Plan Survey 2025

By WTW Employers expand plan eligibility and enhance inclusivity to become more responsive to employee needs. International Pension Plans (IPPs) and International Savings Plans (ISPs) were originally used by multinational employers to provide retirement or savings benefits to employees who may not be eligible for home country retirement plans or where local (host) solutions are unavailable or unsuitable. Today, they have evolved beyond their traditional expatriate focus to include a wider range of employees including local employees, especially in regions...