December 2021
23Dec

The impact of non-contributory cash transfers on poverty in Latin America

By Simone Cecchini, Pablo Villatoro & Xavier Mancero This article assesses the impact of conditional cash transfers, social pensions and other non-contributory transfers on different indicators of poverty and extreme poverty in Latin America, based on an analysis of household surveys from 15 countries in the region between 2014 and 2017. It is found that in 2017, the combined effect of non-contributory social protection programmes reduced simple regional averages for poverty by 2.0 percentage points and for extreme poverty by...

December 23, 2021
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Leveraging identification to extend social insurance to the informal sector
23Dec

Leveraging identification to extend social insurance to the informal sector

Providing pensions and other forms of social insurance to people requires keeping track of large numbers of individuals over long periods of time. There is little margin for error. Allocating contributions of one individual to the pension of another not only affects individual fates. It also risks undermining the trust in the entire system and without trust social insurance cannot work. In the formal economy with contractual employer-employee relationships, the identification of an individual over a long period can (at...

December 23, 2021
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15Dec

What the U.S. economy needs is for you to work longer to help protect your retirement benefits

By Richard Jackson Elderly workers have become an increasingly critical driver of U.S. economic growth, accounting for almost 60% of all gains in U.S. employment during the 2010s. But since the onset of the COVID-19 pandemic in February 2020, more than one in 15 elderly workers have dropped out of the country’s labor force. Near term, the decline in elderly labor-force participation is slowing the current economic recovery. Long term, if the decline proves permanent, it could worsen the already challenging...

December 15, 2021
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Pensions at a Glance 2021 OECD AND G20 INDICATORS
08Dec

Pensions at a Glance 2021 OECD AND G20 INDICATORS

By: OECD This ninth edition of Pensions at a Glance provides a range of indicators for comparing pension policies and their outcomes between OECD countries. The indicators are also, where possible, provided for the other major economies that are members of the G20. Two special chapters provide a review of the impact of COVID‑19 on pensions and of recent pension reforms (Chapter 1) and an indepth analysis of automatic adjustment in pension systems (Chapter 2). Get the book here

December 8, 2021
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Jamaica. Informal Sector Workers to Get NIS Benefits
07Dec

Jamaica. Informal Sector Workers to Get NIS Benefits

For the first time, Jamaica’s household helpers and fisherfolk will be able to secure pension benefits under the National Insurance Scheme (NIS) as the Government moves to formalise these sectors. This will be facilitated under the Transition to Formality Action Plan, which will see this segment of workers being able to access health and life insurance, pension and other facilities to provide them with security and protection in their work environment. The Action Plan, which was officially launched by Minister of...

December 7, 2021
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Priorities for social security Trends, challenges and solutions
06Dec

Priorities for social security Trends, challenges and solutions

By ISSA This report is the result of collective efforts by the professional staff of the Social Security Development branch of the General Secretariat of the International Social Security Association and external experts. Staff were assigned responsibility for authoring specific chapters and sections for this seminal report. Get the book here 588 views

December 6, 2021
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03Dec

Elderly Poverty and its Measurement

By Yoko Niimi & Charles Yuji Horioka This paper examines various aspects of elderly poverty and its measurement. It first discusses some of the most important issues relating to measuring elderly poverty. It then reviews recent trends in elderly poverty, which show considerable heterogeneity in the extent of elderly poverty even among developed countries. Such cross-country differences are due at least partly to differences in the generosity of public old-age pensions and other social safety nets for the elderly. Empirical...

December 3, 2021
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November 2021
13Nov

How Will COVID-19 Affect Pensions for Noncovered Workers?

By Jean-Pierre Aubry, Kevin Wandrei, Laura Quinby Federal law allows certain state and local government employees to be excluded from Social Security if they are covered by an employer pension of sufficient generosity. As a result, approximately one-quarter of state and local workers are not covered by Social Security on their current job. Before COVID-19, these “FICA replacement plans” all satisfied the letter of the law in terms of providing benefits of sufficient generosity. This study has three aims. The...

November 13, 2021
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October 2021
26Oct

COVID caused more than 3 million Americans to retire early, a new Fed analysis finds

More than 3 million Americans decided to retire earlier than they would have due to the COVID-19 pandemic, according to a new analysis. Miguel Faria E Castro, a senior economist at the St. Louis Fed, compared retirees to the baby-boomer trend to distinguish between “normal” and “excess” retirements. As of August, he found, there were slightly over 3 million excess retirements, which is more than half of the 5.25 million people who have left the labor force since the beginning...

October 26, 2021
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08Oct

National pension reform: Why it is imperative in South Africa

When the Department of Social Development (DSD) released its Green Paper on Comprehensive Social Security and Retirement Reforms, the proposal to set up a national pension scheme was swiftly shot down. The Green Paper proposed a National Social Security Fund to which all workers earning over R1,667 a month would contribute. Employers and employees would initially contribute between 8% and 12% of earnings up to a ceiling of R23,000 a month. Such was the force of the opposition that there was...

October 8, 2021
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