December 2022
23Dec

Gen Zers Look Forward to Early Retirement

What You Need to Know Results from a study show that members of Generation Z expect to retire early. The study also found that most Gen Zers have had or expect to have a successful career. Despite this, 44% of Gen Z respondents described their mental health as weak or very weak. Members of Generation Z, which includes the youngest adults in the U.S., have significantly improved their financial well-being and expect to retire before they reach 60, way ahead of their older...

December 23, 2022
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14Dec

Germany. Scholz wants to limit early retirement to weather German labour crisis

While Germany's chancellor Olaf Scholz has called for policies to discourage people from taking early retirement, the FDP is looking to Sweden for inspiration, considering the economic benefits of a more flexible retirement policy and how it may help plug the country’s labour shortage. Scholz calls for cutbacks in early retirements Germany’s chancellor Olaf Scholz has made an appeal to people over the age of 60, calling on them to delay their retirement. The SPD politician said that pension-age people delaying...

December 14, 2022
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November 2022
30Nov

Portuguese seniors’ life expectancy decreased again, provisional results show. It determines pension age for 2024

Statistic Portugal published on November 29 the provisional value of life expectancy at age 65 for the three-year period 2020-2022. Every year this estimates has an influence on pensions in Portugal. Life expectancy at age 65 in Portugal is estimated at 19.30 years for the triennium 2020-2022. Different from life expectancy at birth, this means Portuguese at age 65 between 2020 and 2022 could expect to live until 84 years and 110 days on average. It decreased 0.05 year compared...

November 30, 2022
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28Nov

Malaysia. Concerns over raising the retirement age

THE call for Malaysia to increase the retirement age, due to its ageing population and high number of citizens with insufficient savings, has grown louder as the Covid-19 pandemic has further eroded their savings. There are also suggestions to offer fixed term contracts, incentives for higher contributions towards savings as well as to increase the overall remuneration for employees and improve their financial literacy. Most Malaysians rely on their Employees Provident Fund (EPF) savings to sustain their expenses after retirement. The recent...

November 28, 2022
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25Nov

41% of U.S. women expect to retire at age 70, older or not at all: survey

Two-fifths (41 per cent) of U.S. women say they expect to retire at age 70 or older or don’t plan to retire at all, according to a survey by the Harris Poll on behalf of the Transamerica Center for Retirement Studies. Among women who plan to work past age 65 or who don’t plan to retire, 81 per cent cited financial reasons. Nearly half (45 per cent) said they expect to rely on self-funded savings or investments in retirement, while...

November 25, 2022
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October 2022
27Oct

France’s Macron vows to implement contested pension changes

French President Emmanuel Macron vowed to implement contested pension reforms that would make younger generations work longer. In an interview Wednesday evening on France 2 television, Macron said the changes would start being applied next year. “There’s only one way to do it if we are lucid. Since we are living longer, it’s to work longer,” he said. Read also US. Early retirement took off during the pandemic The minimum retirement age to get full a pension would be gradually increased from 62...

October 27, 2022
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26Oct

US. Early retirement took off during the pandemic

Even as many Americans have returned to work over the past year, making up for most of the pandemic losses in the labor force, a sizable number of older workers are choosing to remain on the sidelines. In September, the share of people 55 and older who were working or looking for work was down 1.5 percentage points as compared with February 2020, according to the Labor Department. (For comparison, prime-age workers, or those 25 to 54 years old, are...

October 26, 2022
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14Oct

Bounded Rationality and Optimal Retirement Age

By Hyeon Park This paper explores a lifecycle model of labor supply and endogenous retirement behavior for households whose planning window is truncated and who will reoptimize as extra information on productivity is revealed over time. This short horizon model internalizes the restriction on rationality for temporal resource allocation and the labor supply is closely dependent on the degree of productivity changes in view. With the model, the endogenous retirement timing---the moment at which the marginal utility from the intended...

October 14, 2022
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04Oct

US. Rehiring Retirees And The Impact To Retirement Plans

The IRS had previously issued FAQs to explain the retirement plan rules of the CARES Act. The original guidance answered questions about expanded distribution options and favorable tax treatment for retirement distributions needed because of the impact of coronavirus. In October, the IRS expanded the FAQs to include guidance on retiree benefits. While these new answers by the IRS relate directly to pension plans, they might be useful in administering a 401(k) plan, too. An employer has a choice when...

October 4, 2022
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September 2022
26Sep

Swiss voters support increase in women’s retirement age

Swiss have voted in favor of the proposal by a narrow margin in a referendum. Another proposal, on imposing stricter regulations on livestock farming, failed to pass. Swiss voters accepted the government's pension reform plan by a narrow margin on Sunday. The plan would raise the retirement age for women from 64 to 65, brining it in line with the age for men. Read also Sustainable finance policy a ‘blind spot’ for European pension funds A concurrent vote on imposing stricter regulations in...

September 26, 2022
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