March 2022
31Mar

UK. Flexi-retirement increasingly common due to gig economy

Flexi-retirement is becoming increasingly common, as more and more retirees are opting to work part-time in the gig economy. According to a new report from Abrdn, two thirds of people retiring in 2022 do not plan on giving up work completely. This compares to just over half of those who retired in 2021 and a third of 2020 retirees. The report, which surveyed 2,000 UK adults, reveals how the “class of 2022” plan to spend their and money in retirement. A quarter said...

March 31, 2022
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Partial De-Annuitization of Public Pensions V.S. Retirement Age Differentiation. Which is Best to Account for Longevity Differences?
17Mar

Partial De-Annuitization of Public Pensions V.S. Retirement Age Differentiation. Which is Best to Account for Longevity Differences?

By Vincent Vandenberghe Extensive research by demographers and economists has shown that longevity differs across socioeconomic status (SES), with low-educated or low-income people living, on average, shorter lives than their better-endowed and wealthier peers. Therefore, a pension system with a unique retirement age is a priori problematic. The usual policy recommendation to address this problem is to differentiate the retirement age by SES. This paper explores the relative merits of partial de-annuitization of public pensions as a way of addressing...

March 17, 2022
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14Mar

Macron plans to raise French retirement age to 65

The president had declared in December that he wanted the French to “work longer”, and has repeated the message twice, firstly in his open letter to the French people in which he finally declared his candidacy for the Elysée, and secondly at a meeting involving a number of elected officials who had signed letters of sponsorship in his favour to allow him to run for a second term. Read also People Are Now Living More Years in Good Health According to...

March 14, 2022
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February 2022
28Feb

Retirement age to be progressively raised in China

This is the government’s first step in gradually raising the retirement age under its five-year plan through 2025, with other provinces expected to follow suit later. As Jiangsu calculates pensions partly based on how long each individual has worked, those who choose to defer could end up with higher monthly payments when they retire. Read also Hungarian pension funds made record income from insurance premiums Amid staunch opposition against a blanket increase in retirement age, the province has opted for a voluntary...

February 28, 2022
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10Feb

Should Ghana raise compulsory retirement age to 65?

Authorities in Ghana are calling for a national dialogue for a review of the country’s pension regulation to increase compulsory retirement age from 60 to 65. Would this move worsen the employment situation or help the state meet its retirement obligations? Since 1992, the compulsory retirement age in Ghana has been pegged at 60. At the time, the average life expectancy was 57.4 years. 30 years down the line, life expectancy has increased to 64.4 years and the compulsory retirement...

February 10, 2022
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January 2022
28Jan

Slovenia should reform its pension system to address rapidly ageing population, says OECD

Slovenia should encourage people to work longer and reform its pensions system in order to make it financially sustainable while preserving pensioners’ living standards, according to a new OECD report. OECD Reviews of Pension Systems: Slovenia says that population ageing has started to accelerate and is projected to increase rapidly until the mid-2050s, driven by health improvements at older ages and low fertility rates over the past several decades. Under current rules, public pension expenditure is projected to increase sharply from...

January 28, 2022
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12Jan

US. 5 Benefits of Delaying Retirement

Delaying retirement can be a major sacrifice, especially if you're eager to leave behind the working world and start enjoying a life of leisure as a senior. But it's also a sacrifice worth making in many cases. There are five huge benefits of putting off your departure from your job, all of which should be carefully considered before you decide to give notice.   1. You can make a delayed Social Security claim The longer you wait to start your Social Security checks,...

January 12, 2022
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December 2021
23Dec

Aging, Retirement and Economic Growth

By Chao Ma & Xiangbo Liu This paper aims at examining the effects of an increase in life expectancy on long-run growth boosted through endogenous human capital accumulation. We first justify the negative growth effects of population aging by developing a three-period overlapping generation (OLG) model with private and public education systems and a social security scheme of a pay-as-you-go (PAYG) nature. In our model, government expenditure structure is allowed to adapt to demographic shifts for the purpose of maintaining...

December 23, 2021
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20Dec

UK. Demands to delay rises in the state pension age

Plans to raise the state pension age from 66 should be shelved because we are not living as long as previously expected, a new report has suggested. Current plans would see the age at which people are eligible for the state pension go up to 67 by 2028, and then eventually to 68. Consultant LCP says life expectancy has stalled and no changes should be made for 30 years. The government has just launched its latest review of the state pension age. At...

December 20, 2021
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16Dec

Switzerland. Pension reform passes in parliament but set to be challenged to vote

By SWI The overhaul also foresees financial compensation – staggered over nine years for women directly affected by the change – as well as an increase in value-added tax. Both chambers of parliament on Wednesday agreed on a series of compromises, but left-wing political parties and trade unionsExternal link have vowed to challenge the reform in a nationwide vote. They argue women have to bear the brunt of the reform as their official retirement age will be set at 65, in line...

December 16, 2021
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