December 2023
15Dec

The Employment Landscape of Older Migrant Workers in China’s Aging Society: The Role of City-Level and Industry Specialization

By Haobin Fan & Ting Zhang As China’s population ages, more older workers are participating in the labor market, including a significant number of older migrant workers moving to urban areas. However, surprisingly little research has been done on their destination city and employment patterns. This paper addresses this gap by investigating the impact of city-level and industry specialization on the employment prospects of older migrant workers. Using both individual- and city-level data, we find that unlike prime-age migrant workers, older migrant workers have higher...

December 15, 2023
Articles, Labor Market, , , ,
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15Dec

Playing the Long Game: How Longevity Affects Financial Planning and Family Caregiving

By Surya Kolluri, Janet Weiner & Mary Naylor Since 1935, when Social Security set the age to receive full benefits at 65, average life expectancy in the United States has risen by 17 years. This increased longevity has clear implications for financial planning, both in terms of the timing of retirement and the need to plan for a longer period of retirement. But there are less obvious implications as well, in terms of the likelihood and length of time that...

December 15, 2023
Articles, Pension design, , , ,
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12Dec

Un estudio internacional del sistema de pensiones para el régimen de pensiones mexicano

Por Alfredo Prieto Gómez & María Enriqueta Mancilla-Rendón Los gobiernos de los países del mundo buscan apoyar a los beneficiarios del régimen de pensiones que son aplicables en la etapa improductiva de la vejez; en ocasiones este propósito no se alcanza, trayendo consigo reflexiones sobre si un sistema de pensiones sea el apropiado. Por ello, el objetivo de nuestro estudio fue analizar el sistema de pensiones de algunos países de la Unión Europea (UE), Estados Unidos, Canadá y Chile, para...

December 12, 2023
Artículos, Caracterización del Sistema, , ,
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08Dec

Global Public Pensions 2023

By Official Monetary and Financial Institutions Forum The Global Public Pensions 2023 report explores how public pension and sovereign funds are building optimal investment strategies to address the uncertain economic environment and factor sustainability into their portfolios. The report draws on surveys, discussions, and written contributions from 22 global public funds across the world with combined assets under management of $4.3tn. These include the likes of Singapore’s GIC, Canada’s CDPQ, Australia’s Future Fund and India’s National Infrastructure Investment Fund. It...

December 8, 2023
Books, Books, Reports, System Characterization, , , ,
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08Dec

Money Illusion in Retirement Savings with a Minimum Guarantee

By Catherine Donnelly, Gaurav Khemka & William Lim We investigate the impact of money illusion on the investment strategy and retirement outcomes of pre-retirees. Money illusion refers to the tendency of individuals to overlook the effects of inflation and focus on nominal rather than real terms. We solve and compare the optimal investment strategies for a pre-retiree who exhibits money illusion and aims to maximize the expected power utility of wealth at retirement, subject to a minimum guarantee constraint. While...

December 8, 2023
Articles, Pension Management, , ,
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08Dec

The Relationship between Retirement Adjustment and Personality Traits Among Elderly in Gamo Zone, Ethiopia

By Fekadu Mekuria Deme & Girma Gura Ayele The objective of this study was to investigate the relationship between retirement adjustment and personality traits among elderly. The study was conducted on 356 retired public servants aged 60 and above residing in Gamo zone, Southern Ethiopia. The study employed a correlational research design. A demographic questionnaire prepared by the researchers and 3 adapted instruments were used to collect the data. The data were analyzed using both descriptive and inferential statistics. The...

December 8, 2023
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08Dec

Household Financial Literacy and Retirement Planning in Rural China

By Yuting Qian, Weiqiang Tan & Jingbo Wu Rural villager’s retirement is an essential issue in China. This study investigates the level of financial literacy of rural residents and its relationship with retirement planning. In-depth survey data of rural residents in the Greater Bay Area reveal that rural residents with different demographic structures have different levels of financial literacy. The empirical study finds that financial literacy is positively related to retirement planning, and this result is robust. Further research shows...

December 8, 2023
Articles, Pension design, , ,
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06Dec

La plataforma de mayores y pensionistas

Por Ángel Rodríguez Castedo Este capítulo analiza la constitución, desarrollo y objetivos de la Plataforma de Asociaciones de Mayores (PMP). Creada en 2020, aglutina más de 15 mil asociaciones del ámbito de las personas mayores y 5,7 millones de socios. Sus objetivos son la defensa de la dignidad de las personas mayores y la defensa de sus derechos en los ámbitos de las pensiones, sanidad, servicios sociales y cuidados para personas en situación de dependencia. La PMP es la voz...

December 6, 2023
Artículos, Envejecimiento, Envejecimiento, , , ,
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06Dec

Evolución de la inversión social pública en el 2022

Por Juan Diego Trejos Solórzano La evolución a largo plazo de la inversión social pública (ISP) en Costa Rica muestra una mayor volatilidad en el último trienio (2020-2022), con pérdidas de la prioridad macroeconómica por la regla fiscal y de la prioridad fiscal por el creciente servicio de la deuda. Es importante señalar que el ciberataque que sufrió el Ministerio de Hacienda durante el 2022 no solo atrasó la disponibilidad de estadísticas en el año 2021, sino que impidió contar con mediciones definitivas para el...

December 6, 2023
Artículos, Caracterización del Sistema, , ,
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01Dec

Subjective survival beliefs and the life-cycle model

By Seung Yeon Jeong, Iqbal Owadally, Steven Haberman & Douglas Wright Evidence from panel surveys of households, collected over several years and in different countries, shows that people’s perception about their remaining lifetime deviates from actuarial data. This has consequences for consumption, savings and investment over an individual’s financial life cycle, and in particular for retirement planning and the purchase of annuities. We use data from the U.S. Survey of Consumer Finances to estimate subjective survival probabilities at different ages....

December 1, 2023
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