April 2024
05Apr

Regressivity in Public Pension Systems: The Case of Peru

By Jose Valderrama We study the role of income-mortality differentials and pension eligibility conditions on the level of regressivity and progressivity of Peru’s public pension system, using administrative records from 1999 to 2018 to do so. We consider the joint effect of insufficient contributions, by which the poorest contribute to the pension system butultimately do not qualify for pensions because of insufficient contributions, and differing mortality by socioeconomic status in contributing to regressivity of the system. We find that the...

April 5, 2024
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03Apr

53% of Americans surveyed feel they are behind on retirement planning and savings, CNBC poll finds

CNBC's International Your Money Financial Security Survey polled about 500 people each in nine countries. Of the 498 people surveyed in the U.S., more than half (53%) said they're behind schedule in retirement planning and savings. The poll was conducted by SurveyMonkey. "I think most Americans do struggle to save enough for retirement," said David Blanchett, a certified financial planner and head of retirement research for PGIM, a money manager. As part of its National Financial Literacy Month efforts, CNBC will...

April 3, 2024
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03Apr

UK: Pensions Regulator: Chief Executive Outlines Changing Role Of Regulator

On March 12, 2024, the Chief Executive of the Regulator, Nausicaa Delfas, delivered a speech on the changes to the pensions sector and how the Regulator is responding. The speech addresses the growing influence of scheme consolidation across both DB and DC schemes, the changing role of trustees in producing transparency and value for members, the emergence of superfunds and the broadening powers of the Regulator around compliance, oversight and analysis. On the Government's Mansion House reforms, the Regulator believes that productive assets...

April 3, 2024
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03Apr

Serbian voluntary pension funds’ assets rise 11.5% y/y at end-2023

The net assets held by voluntary pension funds (VPFs) in Serbia rose 11.5% on the year to 53.8 billion dinars ($495 million/461 million euro) at the end of 2023, the country's central bank, NBS, said. The volume of net assets was up 2.7% compared to the end of September, NBS said in a statement on Monday. At the close of December, the majority of VPF assets were allocated to government securities, comprising 70%, with balances in custody accounts and bank time...

April 3, 2024
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March 2024
27Mar

Older Workers, Pension Reforms and Firm Outcomes

By Francesca Carta, Francesco D’Amuri & Till Von Wachter Using Italian matched worker-firm data, this paper quantifies the effect of an exogenous increase in older workers driven by an unexpected raise in statutory retirement ages on medium and large firms' input mix and economic outcomes. Data on lifetime pension contributions are used to calculate the expected additional number of older workers retained by each firm due to the pension reform. Instrumental variable estimates show an increase in older workers leads...

March 27, 2024
Aging, Articles, , , ,
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27Mar

Leveraging FinTech Compliance to Mitigate Cryptocurrency Volatility for Secure US Employee Retirement Benefits: Bitcoin ETF Case Study

By Samuel Oladiipo Olabanji, Tunbosun Oyewale Oladoyinbo, Christopher Uzoma Asonze, Chinasa Adigwe, Olalekan J Okunleye & Oluwaseun Oladeji Olaniyi The integration of cryptocurrencies, particularly Bitcoin, into retirement savings plans has recently garnered significant attention. This interest has been amplified by the U.S. Securities and Exchange Commission's approval of Bitcoin Exchange-Traded Funds (ETFs) in January 2024 and Fidelity Investments' decision to include Bitcoin in their 401(k) plans. These landmark developments represent a paradigm shift in retirement investment strategies, merging traditional financial...

March 27, 2024
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27Mar

Autonomy or Delegation, Libertarianism or Paternalism: What I Like for Myself and What I Like for Others on Pension Savings

By Carmen Sainz Villalba By using an online survey conducted with Bilendi&Respondi, we correlate the variables of people’s perception of howdifferent they are from others with respect to their pension plan preferences, how informed they are about financial matters in general, and what are their preferences toward the government intervention of savings plans. The empirical approach is inspired by theory results of Konrad (2023). His game-theory analysis suggest that two factors increase the citizen’s desire for autonomous economic decision-making: eccentricity...

March 27, 2024
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22Mar

Fertility, mortality, migration, and population scenarios for 195 countries and territories from 2017 to 2100: a forecasting analysis for the Global Burden of Disease Study

By Prof Stein Emil Vollset, DrPH, Emily Goren, PhD, Chun-Wei Yuan, PhD, Jackie Cao, MS, Amanda E Smith, MPA, Thomas Hsiao, BS, Catherine Bisignano, MPH, Gulrez S Azhar, PhD, Emma Castro, MS, Julian Chalek, BS, Andrew J Dolgert, PhD, Tahvi Frank, MPH, Kai Fukutaki, BA, Prof Simon I Hay, FMedSci, Prof Rafael Lozano, MD, Prof Ali H Mokdad, PhD, Vishnu Nandakumar, MS, Maxwell Pierce, BS, Martin Pletcher, BS, Toshana Robalik, BSc, Krista M Steuben, MS, Han Yong Wunrow, BSc,...

March 22, 2024
Aging, Books, Books, Reports, ,
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22Mar

U.S. Pension Risk Transfer. 2023 Reflections and Looking Ahead

By AON The U.S. pension risk transfer (PRT) market saw another record-breaking year in 2023. After setting record highs for total premium in 2021 and 2022, the market set a new high-water mark for the total number of transactions in 2023 with 773 deals closing during the calendar year. These transactions resulted in $45 billion of premium transferred. Since 2012, $318 billion of pension obligations have transferred from plan sponsors to insurance companies. On the other side of the equation, insurer...

March 22, 2024
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22Mar

The Riccati Tontine: How to Satisfy Regulators on Average

By Moshe A. Milevsky & T. S. Salisbury This paper presents a new type of modern accumulation-based tontine, called the Riccati tontine, named after two Italians: mathematician Jacobo Riccati (b. 1676, d. 1754) and financier Lorenzo di Tonti (b. 1602, d. 1684). The Riccati tontine is yet another way of pooling and sharing longevity risk, but is different from competing designs in two key ways. The first is that in the Riccati tontine, the representative investor is expected -- although...

March 22, 2024
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