September 2025

India’s gig economy expands rapidly, government steps up worker welfare measures

India’s fast-growing gig and platform workforce is reshaping the world of work, creating new opportunities in urban and semi-urban centres while also posing significant challenges around social security and worker protection. With its half-a-billion-strong labour force, the world’s youngest demographic profile, rapid urbanisation, and widespread smartphone penetration, the country is emerging as a global hub for gig-driven transformation, according to official data. The gig economy, broadly defined as a system where individuals earn outside traditional employer–employee relationships, has seen strong growth...

August 2025

China Is Trying to Expand Its Social Safety Net. Yet Many Chinese Are Worried.

As of Sept. 1, all employers in China must contribute to benefits for their employees, to support their pensions, medical care, maternity leave and more. That should come as good news to many ordinary Chinese, given how threadbare China’s social safety net has been. But rather than celebrating, many in China have reacted with worry and frustration. Small business owners have said that their labor costs will skyrocket. Workers have speculated that their bosses will lay them off or lower their...

Financial regret at older ages and longevity awareness

By Abigail Hurwitz & Olivia S. Mitchell To investigate financial regret among older Americans, we conduct a controlled experiment in the Health and Retirement Study. We document that many older people regret not having bought longevity protection or long-term care insurance, as well as having retired and claimed social security benefits too early. This is especially true for women, Black, and less wealthy older individuals. Additionally, we find that informing participants about objective survival probabilities boosts regret by 43% regarding not...

US. New Portable Benefits Bill Aims To Help Gig Workers, But Worker Classification Still Matters

Senator Bill Cassidy (R- IL) uncovered the Unlocking Benefits for Independent Workers Act to prevent gig worker misclassification. Under this legislation, companies will be able to voluntarily offer portable benefits without employing gig workers and having to pay for unemployment insurance, overtime pay, and workers' compensation. For some time, there has been a disagreement between labor advocates and large companies like Uber or Lyft over portable benefits. Gig workers have been advocating for worker protections, while larger companies have fought back, deeming them...

Life Behind the Cart in Sierra Leone’s Informal Sector

On any given day, through the dusty or muddy streets of Shell New Road, Freetown, you’ll find Hassan Sesay, 43, pushing his heavy cart, navigating potholes and broken roads, hustling to deliver goods that don’t even belong to him but upon which his entire livelihood depends. Sesay was born along Lunsar Road in Makeni to a builder father and a trader mother. Life was hard. His parents could not afford to send him to school, and his childhood dream of...

Social Security isn’t the broken piece of America’s retirement crisis. Here’s what really needs to be fixed.

In the beginning, the aims of Social Security were both noble and modest. “We have tried to frame a law,” said President Franklin D. Roosevelt at the signing of the Social Security Act, “which will give some measure of protection to the average citizen and to his family against the loss of a job and against poverty-ridden old age.” It was Aug. 14, 1935. The key phrase was “some measure of protection.” Social Security was never meant to be the principal...

US. Republicans want to give Uber workers benefits. There’s a catch.

Should independent contractors get employment benefits? The question has fueled decades of legal and political battles — and it might finally be coming to an end for the roughly 58 million people who currently work as freelancers, contractors and gig workers across America. Three Republican senators — led by Bill Cassidy of Louisiana, who chairs the chamber’s Health, Education, Labor, and Pensions (HELP) Committee — have introduced bills to expand benefits like health insurance and retirement savings for contractors. The legislation...

July 2025

Pensions in Spain: A Reform that Backfires

By Julián Díaz Saavedra & Javier Díaz-Giménez After the pension policy reversal that took place at the end of the past decade, the Spanish government approved a pack of new parametric changes to its public pension system, to cope with the present and future Spanish pension system imbalance. To study these changes, we use a large-scale overlapping generations model calibrated to the Spanish Economy, and show that this pension reform backfires. This is because these changes bring no significant variation...

Retirement Then, Now, and Next

By Teresa Ghilarducci & The SCEPA Team  Late Baby Boomers (age 59-67), Generation X (age 43-58) and Millennials (age 27-42) are retiring under much worse conditions than Early Baby Boomers (between age 68-76 in 2022). This fact gets obscured by research that paints an optimistic picture of retirement security that only really existed for Early Baby Boomers. Later generations have been impacted by changes to the conditions of retirement that Early Baby Boomers did not experience. This includes: the shift...

US. 7 Things Retirees Need To Know About the Big Beautiful Bill Act

The One Big Beautiful Bill Act (OBBBA), signed into law by President Donald Trump over the July 4, 2025, weekend, is a sweeping multitrillion-dollar package that blends tax cuts with significant spending reductions and changes to the social safety net.1 For retirees, the new law brings both opportunities and uncertainties—from temporary tax relief on Social Security benefits to potential changes in required retirement distributions. While some provisions offer immediate benefits, others create planning challenges that could affect retirement strategies for years to come....