March 2024
08Mar

Gender Pension Gap in EU Countries: A Between-Group Inequality Approach

By Antonio Abatemarco, Elena Lagomarsino & Maria Russolillo  Pension entitlements are influenced by individual career paths and labor market conditions, which often result in gender-based disparities. Women face several challenges during their working lives, such as late entry into the labor market, the gender pay gap, discontinuous working careers, and early retirement due to family caregiving, which lead to lower pension incomes. This paper investigates the gender pension gap in nine European Union countries from 2004 to 2020. Our study...

March 8, 2024
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01Mar

Singapore faces shrinking population as total fertility rate falls below 1% for first time

Singapore, facing a dwindling population and a manpower shortage, has seen its resident total fertility rate (TFR) drop to an estimated 0.97 per cent in 2023, the first time it has dropped below one per cent in the country’s history. The TFR, which refers to the average number of babies each woman would have during her reproductive years, fell from 1.04 in 2022 and 1.12 in 2021, Minister in the Prime Minister’s Office (PMO) Indranee Rajah told Parliament on Wednesday. The...

March 1, 2024
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February 2024
20Feb

How South Korea Is Tackling Its Demographic Crisis

Some 24.5% of South Koreans aged 70 and above were still working as of January, local media reported Monday, as officials increasingly look to keep more elderly in the workforce to address a demographic crisis. Elderly employment figures have seen a steady increase since the country’s statistics authority started to collect the data in 2005. Among these workers, half of whom are aged 75 and above, 42.1% are considered “simple laborers” by authorities, referring to workers with jobs that are not specialized and require...

February 20, 2024
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19Feb

New Zealand. Lowest population growth in 80 years

There were 19,071 more births than deaths in 2023, according to data released by Stats NZ today. This is the lowest annual natural increase since 1943, when there were 17,562 more births than deaths. There were 56,955 live births and 37,884 deaths registered in New Zealand in 2023. “2023 had the lowest number of births registered in 20 years,” population insights analyst Rebekah Hennessey said. “The number of deaths in 2023 was slightly lower than in 2022, but higher than in the years...

February 19, 2024
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14Feb

China wants to build a ‘silver economy’ for its ageing society – but who will keep it running?

Homes for the elderly are businesses like any other. But when Yan Guizhen established her first care facility at the turn of the millennium, she was more interested in providing a necessary service than maximising profit. Yan, 53, now manages six facilities that employ around 100 carers, tending to more than one thousand beds in China’s eastern Shandong province. But her dream to keep those of the older generation safe and comfortable has run into several snags. With China’s population ageing fast,...

February 14, 2024
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12Feb

The Silver Economy: Unveiling Investment Opportunities in Aging Populations

The global demographic landscape is undergoing a profound transformation. As life expectancies extend and birth rates decline in many parts of the world, the proportion of the elderly population is increasing at an unprecedented rate. This shift has created the “Silver Economy” — a new area of economic growth linked to the needs and activities of aging populations. As the number of older people increases, their needs and preferences will have an increasing impact on shaping our economy and society. For investors,...

February 12, 2024
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08Feb

US, Asia, Europe face aging populations

The United States, Asian and European countries must prepare for the needs of their aging populations, as there will be 2.1 billion people age 60 and older globally by 2050, the World Health Organization said. More than 82 million Americans will be 65 and older in 26 years, according to the Population Reference Bureau (PRB). Today, there are 58 million in that category. More Americans are turning 65 this year than at any other time in history — about 4.1 million...

February 8, 2024
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January 2024
23Jan

​Finance Norway calls for change in workplace pensions

In response to December’s government proposals to reform Norway’s pension system to make it fairer, Finance Norway (Finans Norge) has called for changes to occupational pensions and measures to strengthen individual pension plans. Finans Norge said it took part last Thursday in the Standing Committee on Labour and Social Affairs’ hearing in parliament (Storting) on the government’s report to parliament on proposals for changes to the pension system. “Finans Norge supports the government’s proposal to strengthen the financial and social sustainability...

January 23, 2024
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19Jan

Inter-Generational Spillovers in Labor Supply: Evidence from a Danish Retirement Reform

By Malene C. F. Laczek In this paper, I study how the labor supply of one generation affects the next. Utilizing longitudinal Danish register data and a large retirement reform, I document that parents’ retirement significantly affects the labor supply of their adult children. This inter-generational link is driven solely by mothers. Concretely, mothers’ retirement permanently increases their adult children’s income rank by 7 income rank points, driven by increased hours worked, participation in the labor force, improved occupational rank,...

January 19, 2024
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18Jan

China’s Population Drops by 2 Million in 2023 Due to Record Low Birth Rate

China has long seen the United States as its main geopolitical rival. But the Chinese government is facing a new threat – this one from within: a precipitous decline in the country’s birth rate, leading to a rapidly aging – and shrinking – population. China’s population fell by a staggering 2.08 million people in 2023 to 1.409 billion, according to the country’s National Bureau of Statistics. Its population had declined by 850,000 in 2022, which had been the country’s first year-over-year decline...

January 18, 2024
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