July 2021
09Jul

España. La reforma de las pensiones no incentiva lo suficiente retrasar la edad de jubilación

Alargar la vida laboral más allá de la edad legal de jubilación sigue sin ser atractiva para los trabajadores españoles tras la aprobación de la primera fase de la reforma de las pensiones. Pese a que uno de los principales objetivos del Gobierno y del Ministerio que encabeza José Luis Escrivá era incentivar el retraso de la edad de jubilación, el análisis realizado por el Observatorio de Pensiones de Willis Towers Watson de esta primera parte de la reforma,...

July 9, 2021
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09Jul

Panamá. Actuarios piden en el diálogo por la Caja de Seguro Social, no descartar medidas paramétricas

Los miembros de la Junta Técnica Actuarial (JTA) exhortaron a los representantes de la comisión temática de Invalidez, Vejez y Muerte (IVM), en el diálogo por la Caja de Seguro Social (CSS), a que no descarten ningún cambio, incluyendo medidas paramétricas. "Medidas que no son paramétricas las escuchemos, las analicemos, las evaluemos y medidas paramétricas las escuchemos y las evaluemos, también", sostuvo Andrés De La Guardia, de la JTA. Según el experto, decir que se pueden arreglar los problemas que tiene...

July 9, 2021
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09Jul

Hong Kong’s pension fund posts 4.5 per cent investment gain in first half, but policy and regulatory challenges lie ahead

Hongkongers probably earned the most returns in two years from their US$154 billion pension scheme in the first half of this year from a rally in global stocks. These winnings could be eroded by policy tightening in the US and a tech sector crackdown at home by China. Read also ESG: Fad or Future? The Mandatory Provident Fund (MPF) generated HK$52.6 billion (US$6.8 billion) of investment income in the January to June period, according to calculations by the Post based on...

July 9, 2021
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09Jul

Germany finally launches basic pension scheme

Germany’s basic pension scheme kicks off this July Shortly before the federal election in September, Germany’s coalition government is finally delivering on its promise to top-up insubstantial pension benefits to ensure a basic standard of living for all retirees who have contributed to the social security system. Under the new system, anyone who has contributed towards a German pension for at least 33 years will qualify for a basic pension. This includes not just time spent working, but also time taken...

July 9, 2021
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09Jul

Nigeria. Fintech firm, Tangerine, launches pension, insurance products

A leading financial services and technology platform, Tangerine, officially launched its financial service product offerings at a press conference held on Wednesday July 7. Speaking at the press conference was Livingstone Magorimbo, Head Life Insurance, Tangerine Nigeria, Dapo Akisanya, Head Pensions, Tangerine Nigeria & Ibitunde Balogun, Head Commercial, Tangerine Nigeria who introduced the press to Tangerine and shared the businesses agenda and future growth plans. In September 2019, Tangerine was established following the acquisition of 100% equity stake in Metropolitan Life...

July 9, 2021
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08Jul

Pensions for Whom? Redistribution of Public Pension with an Endogenous Income-Longevity Gradient

By Frederik Bjørn Christensen, Frederik Læssøe Nielsen A vast literature on public pensions shows that pay-as-you-go schemes may be preferable to funded schemes despite arguments of return dominance. A heavily cited reason for this is redistribution. One aspect that is rarely considered, however, is that the positive correlation between income and longevity may mitigate or even reverse redistribution. Augmenting a standard, heterogeneous-agent life cycle model with endogenous survival, we conduct a positive experiment and show that pension policy might not...

July 8, 2021
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08Jul

From welfare to farewell: the European social-ecological state beyond economic growth

By European Trade Union Institute RPS Submitter, Eloi Laurent This working paper is intended to shed light on a pressing issue: the apparent growth-dependency of European welfare states at a time of weak growth prospects and strong criticisms of growth. Indeed, while the notion of going beyond GDP growth is gaining momentum in the European Union, as elsewhere, and seems rational and desirable to a growing number of citizens and policymakers, it might not be feasible. Highlighting a new ‘welfare-growth-transition...

July 8, 2021
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08Jul

Delay the Pension Age or Adjust the Pension Benefit? Implications for Labor Supply and Individual Welfare in China

By Yuanyuan Deng, Hanming Fang, Katja Hanewald, Shang Wu We develop and calibrate a life-cycle model of labor supply and consumption to quantify the implications of alternative pension reforms on labor supply, individual welfare, and government budget for China’s basic old-age insurance program. We focus on urban males and distinguish low-skilled and high-skilled individuals, who differ in their preferences, health and labor income dynamics, and medical expense processes. We use the calibrated model to evaluate three potential pension reforms: (i)...

July 8, 2021
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08Jul

Towards equity and sustainability? China’s pension system reform moves center stage

By Li Yang In this paper I review the latest development of China’s public pension system. Last several decades saw China’s tremendous achievement in various public pension reforms. Especially since the 11th Five-Year Plan (2006-2010), reform has accelerated. By 2019, the public pension system in China has covered almost one billion adults, which makes it the biggest pension system in the world. Together with the expansion of Dibao (Basic living allowance) and the eradication of poverty, the development of pension...

July 8, 2021
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08Jul

Perú. Congreso busca bono de reconocimiento para más afiliados a las AFP y subir límite de inversión en el exterior

La Comisión de Economía aprobó hoy, con once votos a favor y ninguno en contra, el proyecto de ley N° 7782, el cual busca disponer la creación de un nuevo bono de reconocimiento para los afiliados que pasaron de la ONP a la AFP. El bono sería para quienes realizaron aportes por un mínimo de 48 meses entre el 1 enero de 1997 y 31 diciembre del 2020, señala la iniciativa legislativa. Asimismo, agrega que la fijación del monto se regirá...

July 8, 2021
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