November 2023
10Nov

In search of financially sustainable pension systems: three benchmark models

By Ekaterina Cuéllar, Daniel Gamboa & Waldo Tapia  One of the great dilemmas facing countries around the world is to define a pension system that is financially sustainable in the face of increasing life expectancy, falling fertility rates and the consequent lack of generational replacement. Globally, pension reforms in countries with more advanced aging processes have focused on implementing parametric reforms and incorporating automatic adjustments of the main parameters to share productivity, financial and demographic risks. In this article we present the advantages...

November 10, 2023
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July 2023
23Jul

Providing security, building sustainable futures

By Pension Protection Fund  Our purpose is to protect the future of millions of people throughout the UK who belong to defined benefit (DB) pension schemes - 9.6 million as at 31 march 2022. When these schemes fail we’re ready to help. We do this by paying our members, charging a levy and investing for the long term. Read book “here”

July 23, 2023
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June 2023
09Jun

Pension Systems (Un)Sustainability and Fiscal Constraints: A Comparative Analysis

By Burkhard Heer, Vito Polito & Michael Wickens  Using an overlapping generations model, two new indicators of public pension system sustainability are proposed: the pension space, which measures the capacity to pay for pension expenditures out of labour taxation, and the pension space exhaustion probability reflecting demographic uncertainties. These measures reveal that the pension spaces of advanced economies are strikingly different. Most nations have little scope to further finance pensions out of labour income taxation over the next thirty years....

June 9, 2023
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October 2022
14Oct

Mercer CFA Institute Global Pension Index 2022

By Mercer & CFA Institute Mercer and the CFA Institute released its 14th annual Mercer CFA Institute Global Pension Index (MCGPI). Iceland’s retirement income system has once again topped the list, with The Netherlands and Denmark retaining second and third places respectively in the rankings. As more employers have stepped away from defined benefit (DB) plans, the study also investigates the challenges and opportunities with the global shift towards defined contribution (DC) plans where individuals bear increased financial responsibility. The MCGPI...

October 14, 2022
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July 2022
08Jul

Measurement of ESG Performance: A Study of Indian Companies

By Preeti Sharma, Priyanka Pandey, Vijay Kumar Jain & R. C. Dangwal The present study aims to construct an inclusive, Literature-based, and statistically vetted environmental, social and corporate governance disclosure (ESGD) index, measure the item-wise, theme-wise, and factor-wise ESG performance of the top 80 Indian companies for the period 2013-2016, and examine item-wise, theme-wise and factor-wise variations in ESGD. Content analysis is used to measure the ESG disclosures of the sample companies. To test the variations, skewness, kurtosis, Levene’s, Chi-square,...

July 8, 2022
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December 2021
03Dec

Socially responsible investing

By Charles Stanley Direct The human impact on the environment means changes to the way society and industry operates are necessary, while societal problems such as poverty and inequality need to be tackled. Choosing investments that take account of these issues is what we call “investing with conscience”, or socially responsible investing. Get the book here 645 views

December 3, 2021
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October 2021
27Oct

Market-led Sustainability is a ‘Fix that Fails’… but It May Have Been the Necessary ‘Defence at First Depth’

By Duncan Austin Humankind is a complex system suddenly pitched into adaptive crisis. From this bigger perspective, our ‘first response’ to the crisis has overwhelmingly been a voluntary market-led response under various banners – SRI, CSR, ESG, ‘impact’ etc. While this voluntary market-led (VML) meta-strategy has been a beneficial, and possibly inevitable, first response, it is becoming clear it is insufficient as an adaptive solution and that its pursuit now forestalls deeper changes required. We need to graduate from a VML...

October 27, 2021
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19Oct

2021 Mercer CFA Institute Global Pension Index

By Mercer & CFA Institute The impact of the COVID-19 pandemic continues to affect the well-being of millions of individuals around the world. Its effects, however, are not confined to the health systems or those who contract the virus. There are broader economic effects with higher government debt and restricted economic activity in many countries. While it would be easy for governments to concentrate on these short term challenges, it would be a mistake to do so. With ageing populations,...

October 19, 2021
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March 2021
05Mar

Pensions after the financial and economic crisis: a comparative analysis of recent reforms in Europe

By David Natali This paper sheds light on the initial impact of the economic and financial crisis on pensions policy across Europe, and assesses the first measures proposed and/or introduced in four EU countries. The author argues that while the impact on different pension models naturally varies, some common trends can be identified: short-term measures to grant additional protection for the elderly at risk of poverty, raising of the statutory retirement age, incentives for active ageing. The role of private...

March 5, 2021
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05Mar

Joint Report on Pensions Progress and key challenges in the delivery of adequate and sustainable pensions in Europe

By the Economic Policy Committee (Ageing Working Group), the Social Protection Committee (Indicators Sub-Group) and the Commission services (DG for Economic and Financial Affairs and DG Employment, Social Affairs and Equal Opportunities) Ensuring that public policies cater for sustainable, accessible and adequate retirement incomes now and in the future remains a priority for the EU. While Member States share similar fundamental challenges there are considerable differences in the timing of demographic ageing, the design of pension arrangements, the growth potential...

March 5, 2021
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