May 2023

Loneliness can impact longevity & quality of life, claims study

Vivek Murthy, the US surgeon general, recently warned that "being socially disconnected" has a similar effect on mortality as smoking up to 15 cigarettes a day. This statement was widely reported in the media, including in the Washington Post, the Times and the Daily Mail. But where does this "15 cigarettes a day" figure come from? Dr Murthy is referring to a study published in 2010 that explored social relationships and mortality rates. The researchers combined the data from 148...

April 2023

UK. Should pensions tax relief be used to fund care costs?

Getting more people into work and keeping them there for longer was a thread that ran throughout last month’s Spring Budget. Chancellor Jeremy Hunt focused on childcare, state benefit reform and elements of the pensions tax relief system, such as the abolition of the lifetime allowance (LTA). But there was nothing more to add on the funding of social care. Last year’s Autumn Statement, which confirmed the proposed £86,000 cap on social care costs in England would be delayed by...

Priorities for social security Trends, challenges and solutions

By Raúl Ruggia-Frick The International Social Security Association (ISSA) draws its value, strength and dynamism from its global membership, which consists of national institutions that administer the main social security programmes in their countries. This gives the Association a unique and privileged vantage point from which to identify and analyse priority administration and policy challenges in social security, and the many innovative responses and creative solutions to these. The ISSA was looking to the future when it set the priorities of...

March 2023

Portugal. Bringing together students and pensioners

The program, entitled “Abraço de Gerações”, is promoted by the Associação Cozinhas Económicas Rainha Santa Isabel (ACERSI), is based in downtown Coimbra, and is seeking to respond to two problems felt in the city – the difficulty of accessing accommodation for students and the isolation of elderly people -, said Teresa Sousa. The initiative is promoted in partnership with the Associação Académica de Coimbra (AAC) and the Associação de Former Students of Coimbra, as part of a project entitled “Oficina...

January 2023

Promoting an Age-Inclusive Workforce

All OECD economies are undergoing rapid population ageing, leading to more age diversity in workplaces than ever before as people are not only living longer but working longer. Greater diversity of experience, generations and skills gives employers an important opportunity to harness the talent that different age groups bring to the workplace and improve productivity and profitability. What can employers do to maximise the benefits of a multigenerational workforce? This report presents a business case for embracing greater age diversity...

Early retirement can accelerate cognitive decline among the elderly, research shows

Early retirement can accelerate cognitive decline among the elderly, according to research conducted by faculty at Binghamton University, State University of New York. Plamen Nikolov, assistant professor of economics, and Shahadath Hossain, a doctoral student in economics, both from Binghamton University, examined China's New Rural Pension Scheme (NRPS) and the Chinese Health and Retirement Longitudinal Survey (CHARLS) to determine how retirement plans affect cognitive performance among plan participants. CHARLS, a nationally representative survey of people ages 45 and above within...

Dutch medical specialists: focus on healthy pensions

Medicine and finance can be seen as two very distant disciplines. Perhaps pension fund management is where the two disciplines find common ground. When it comes to pensions, a finance practitioner must be able to think and act with a long-term objective in mind and to put the well-being of its clients above everything else, as a healthcare professional would deal with a patient. That common ground is a strong foundation for Stichting Pensioenfonds Medisch Specialisten (SPMS), the pension fund...

December 2022

A long-term illness crisis is threatening the UK economy

Along with sky-high inflation and energy costs, a Brexit-related trade tailspin and a recession in progress, the U.K. economy is being hammered by record numbers of workers reporting long-term sickness. The Office for National Statistics reported that between June and August 2022, around 2.5 million people cited long-term sickness as the main reason for economic inactivity, an increase of around half a million since 2019. The number of “economically inactive” people — those neither working nor looking for a job —...

Inferring Occupation Arduousness from Poor Health Beyond the Age of 50

Inferring Occupation Arduousness from Poor Health Beyond the Age of 50

By: Vincent Vandenberghe In the absence of a direct description of occupation arduousness, this paper shows how it can be inferred from poor health beyond the age of 50. Using retrospective lifetime data from the Survey of Health, Ageing and Retirement in Europe (SHARE) including the respondents’ professional career described with ISCO 2-digit, this paper finds a statistically significant link between many occupations and the risk of poor health beyond the age of 50. Next, we quantify the relative contribution...

British government looks at pension rules to retain health workers

Britain's government is launching a consultation into how to amend pension rules for workers in the National Health Service to help retain more staff, at a time when the sector faces strikes over pay this month that could halt some procedures. The governing Conservative Party has long promised to sort out a health service which has struggled to recover after being stretched to its limits during the COVID-19 pandemic and now faces strikes by thousands of nurses and ambulance workers. "The...