May 2026
29May

Old and new welfare states retaining older workers in the face of crisis: the case of COVID-19 in Europe

By Kun Lee The Coronavirus pandemic was a unique crisis in Europe as an unprecedented health and labour market shock barely disrupted long-term trends towards active ageing. We study the role of social policy responses and pre-existing welfare state institutions in moderating older workers’ early exit following the crisis. Using a cross-nationally harmonized panel survey in Europe, we examine whether variations in national labour market policies and pension institutions explain older workers’ exit outcomes following COVID-19, net of the economic...

May 29, 2026
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29May

The Duty to Explain: Fiduciary Intelligibility Under ERISA

By Ian Edwards This Essay examines whether the Employee Retirement Income Security Act of 1974 (“ERISA”) contains an emerging principle of fiduciary intelligibility within its participant disclosure framework. ERISA requires Summary Plan Descriptions (“SPDs”) to be written in a manner “calculated to be understood by the average plan participant.” While modern pension disclosure has become increasingly sophisticated and financially technical, this Essay argues that administrative and financial disclosure are not necessarily equivalent to fiduciary intelligibility. The Essay does not propose a...

May 29, 2026
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29May

Zero-Trust Architecture for Multi-Tenant SaaS Platforms on AWS:A Practitioner Framework for Authentication, Authorisation, and KYC in Regulated Financial Services

By Alan Terriaga Multi-tenant Software-as-a-Service (SaaS) platforms operating in regulated financial services face a unique intersection of security, compliance, and operational challenges that traditional perimeter-based architectures cannot adequately address. This paper presents a practitioner framework for implementing Zero-Trust Architecture (ZTA) across all layers of an AWS-hosted SaaS application, with particular focus on the authentication, authorisation, and Know Your Customer (KYC) verification pipelines that underpin financial compliance obligations. Drawing on direct engineering delivery experience leading IAM systems in regulated multi-tenant environments, we...

May 29, 2026
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29May

Agency Costs Beyond Corporations: Evidence from Pension Funds

By Clemens Böhlen This paper examines the role of agency costs in pension fund performance. Grounded in corporate agency theory, it exploits institutional variation in a unique dataset on the Swiss pension system to assess how differences in monitoring incentives affect investment outcomes. Specifically, I examine the role of the sponsoring company and show that multi-employer funds underperform institutionally comparable single-employer funds by 25-31 basis points per year, in line with weaker governance incentives. Consistent with corporate agency theory, these...

May 29, 2026
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22May

Financial Stability Review 2025

By Financial Stability Council The Financial Stability Review evaluates developments in Ghana’s financial system, with emphasis on policies implemented to mitigate emerging risks to financial stability. This report is organised into eight (8) chapters: macro-financial developments, developments in Ghana’s financial system, assessment of the Banking, Insurance, Securities, and Pensions Industries, financial sector resilience, and a special features section that highlights topical issues of relevance to financial stability. In this current edition, two new sections have been introduced – key Financial...

May 22, 2026
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22May

Informality, Gender and Aging. Cumulative Inequalities and Intergenerational Effects

By Haut Comissariat Au Plan Since 2021, His Majesty King Mohammed VI’s High Guidance on social development has driven a structural project to extend social protection, focusing on the expansion of mandatory health coverage, the gradual integration of self-employed workers into pension schemes, and the introduction of universal family allowances. The New Development Model sets out this vision by establishing objectives in terms of decent employment, the economic inclusion of women, and intergenerational sustainability. The analysis presented in this report examines, in...

May 22, 2026
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20May

La retroactividad de la ley en la reforma al artículo 127 constitucional

Por Lic. Armando Valdés En el México contemporáneo, donde la discusión sobre la austeridad y la justicia social ocupa un lugar central en la agenda pública, la propuesta de reforma al artículo 127 constitucional, ya aprobada por el Congreso de la Unión, en materia de pensiones y jubilaciones se presenta como un intento de ordenar el gasto público y limitar privilegios. Sin embargo, más allá de la narrativa oficial, esta iniciativa plantea un dilema jurídico y ético de gran envergadura:...

May 20, 2026
Artículos, Diseño de Pensiones, , , ,
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15May

Analysis of climate risk reporting across UK pension schemes

By XPS Group 2025 has shown that climate change is no longer a distant risk. It's a force that's already shaping economies, societies and investment markets. While government policy remains fragmented, UK pension schemes remain exposed to the risks of worsening climate outcomes, and to opportunities that arise from a faster transition to a green economy. Our fourth annual Task Force on Climate-related Financial Disclosures (TCFD) review examines how 49 UK pension schemes, representing £420bn in assets, are addressing climate change...

May 15, 2026
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15May

Studying the Psychological and Financial Aspects of Retirement Planning

By Sneha Mishra, Manyata Dua, Harji singh Malhotra & Dhawal Agrawal Social and economic changes associated with retirement influence the lives of both individuals and families. The authors conduct research to study retirement planning obstacles by evaluating how financial literacy combines with psychological aspects together with population-based  variables. A critical challenge emerges from the retirement consumption problem which causes  household spending to decline when the main breadwinner exits the workforce. Financial  preparedness for retirement is examined through the research of...

May 15, 2026
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15May

A PRISMA-Based Systematic Review of Gender Inequality in Uruguay’s Pension System

By Emre Kurt This paper examines the gendered effects of pension and retirement systems in Uruguay through a systematic literature review, motivated by persistent inequalities arising from contributory social protection models that reflect labor-market disparities and unequal caregiving responsibilities. Using the PRISMA 2020 framework, the study identifies and evaluates 21 relevant studies selected from an initial pool of 205 records, applying a gender-audit approach to distinguish between research with central and partial gender analysis. The findings reveal a methodologically diverse...

May 15, 2026
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