January 2021
01Jan

The Shift to a Funded Social Security System: The Case of Argentina

By Joaquin Cottani & Gustavo Demarco The Argentine social security system has been modified a number of times since its creation in 1904. The pay-as-you-go system was adopted in 1954. The reform of 1969 established the system’s definitive structure, which remained substantially unchanged for more than twenty years. However, the system’s underlying financial problems led the government to undertake an integral reform of its social security program in 1993. The government adopted a mixed system by introducing private pensions into...

January 1, 2021
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October 2020

20Oct

Mercer CFA Institute Global Pension Index 2020

By Merced CFA Institute What makes a world-class pension system in 2020? Pension systems around the world are facing additional pressures in 2020. The widespread economic impact due to COVID-19 has had both immediate and long-term implications for retirees. Additionally, increasing life expectancies and rising pressure on public resources to support the health and welfare of older citizens will affect how citizens around the world will retire in the mid to long-term. “The economic recession caused by...

October 20, 2020
Adequacy, Books, Investment, Pension Management, Reports, Sustainability, , , , , ,
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February 2020

28Feb

The Great Escape: Health, Wealth, and the Origins of Inequality

By Angus Deaton The world is a better place than it used to be. People are healthier, wealthier, and live longer. Yet the escapes from destitution by so many has left gaping inequalities between people and nations. In The Great Escape, Nobel Prize–winning economist Angus Deaton—one of the foremost experts on economic development and on poverty—tells the remarkable story of how, beginning 250 years ago, some parts of the world experienced sustained progress, opening up gaps and setting the...

February 28, 2020
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28Feb

The Age of Sustainable Development

By Jeffrey D Sachs, Ban Ki-moon Jeffrey D. Sachs is one of the world's most perceptive and original analysts of global development. In this major new work he presents a compelling and practical framework for how global citizens can use a holistic way forward to address the seemingly intractable worldwide problems of persistent extreme poverty, environmental degradation, and political-economic injustice: sustainable development. Sachs offers readers, students, activists, environmentalists, and policy makers the tools, metrics, and practical pathways they need...

February 28, 2020
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28Feb

Millennial Generation: Information on the Economic Status of Millennial Households Compared to Previous Generations

By Charles A. Jeszeck, Michael J. Collins, Jessica Rider, Kathleen McQueeney, Layla Moughari Recent research indicates that, across three key measures, economic mobility in the United States is limited. Specifically, the Millennial generation (those born between 1982 and 2000) might not have the same opportunity as previous generations had to fare better economically than their parents. According to studies GAO reviewed, the share of people making more money than their parents at the same age (absolute mobility) has declined...

February 28, 2020
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January 2020

10Jan

Sustainable Investing in Equilibrium

By: Lubos Pastor, Robert F. Stambaugh, Lucian A. Taylor We present a model of investing based on environmental, social, and governance (ESG) criteria. In equilibrium, green assets have negative alphas, whereas brown assets have positive alphas. The ESG investment industry is at its largest, and the alphas of ESG-motivated investors are at their lowest, when there is large dispersion in investors' ESG preferences. When this dispersion shrinks, so does the ESG industry, even if all investors' ESG preferences are strong....

January 10, 2020
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December 2019
06Dec

The Real Effects of Environmental Activist Investing

By S Lakshmi Naaraayanan, Kunal Sachdeva, Varun Sharma Using a socially-motivated activist campaign by a large pension fund, we measure the real effects of activist investing on pollution and the environment. Targeted firms reduced their total toxic chemical releases, production-related emissions, cancer-causing pollution, environmental accidents, and legal risks. These effects do not come at the expense of lower financial performance or returns. We rule out natural alternative hypotheses while also presenting evidence supporting the external validity of socially motivated...

December 6, 2019
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November 2019

28Nov

Pensions at a Glance 2019

By OECD The 2019 edition of Pensions at a Glance highlights the pension reforms undertaken by OECD countries over the last two years. Moreover, two special chapters focus on non-standard work and pensions in OECD countries, take stock of different approaches to organising pensions for non-standard workers in the OECD, discuss why non-standard work raises pension issues and suggest how pension settings could be improved. This edition also updates information on the key features of pension provision in OECD countries and...

November 28, 2019
Aging, Articles, Books, Labor Market, Pension design, Reports, Slider-Left, Sustainability, ,
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October 2019

25Oct

Essentials of Pension Economics

By Sergio Nisticò This Palgrave Pivot provides a concise overview of pension systems which, whether paid by governments or by private companies, are the sole source of income for millions of people around the world. By 2050, two billion elderly people will have to be ensured some form of income while, at the same time, the prospect facing younger generations is of a gloomy future. This book breaks down the jargon, investigates different designs and analyses these designs'...

October 25, 2019
Aging, Books, Sustainability,
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25Oct

Social Pensions and Market Values: A Conflict?

By Quentin Detienne, Elmar Schmidt Social occupational pension schemes, i.e. compulsory pension schemes that are the result of collective bargaining, fulfil an important social function. At the same time, they seem to conflict with some fundamental single market tenets, such as the European Union (EU) Single Market’s four fundamental freedoms and competition law principles. In this respect, occupational pension schemes in the Member States seem to embody the inherent tensions contained within the EU’s social market economy: a clash...

October 25, 2019
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