September 2024
23Sep

The U.S. Retirement System Will Fail Most Future Retirees

Careful research by Ph.D economists concludes America faces a huge retirement shortfall. We are about eight to nine years away from Social Security's inability to pay full benefits; all boomers are past age 60, and the typical Gen Y and Millennial is predicted to do a little worse or much worse than the cohorts of their big brothers, sisters, and parents. The erosion in retirement security is worse for the bottom 60% or so of the earnings distribution. Yes,...

September 23, 2024
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20Sep

Optimising Bangladesh’s Universal Pension Framework: From Lessons to Actions

By Samiha Chowdhury Social protection for the elderly, in the form of the Old-age Allowance (OAA) Programme, has been operational in Bangladesh since 1998, offering monthly financial support to senior citizens from poor and vulnerable households. As of FY24, the programme has approximately 5.8 million elderly people as beneficiaries, each receiving Tk.600 per month distributed on a quarterly basis. Apart from this, retirement benefits for the government employees and their families can also be considered a social protection programme for...

September 20, 2024
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17Sep

Precarity trap: Gig economy failing Asia’s youth

Precarious employment among youth in the Asia-Pacific region has become an increasingly urgent issue, with a growing number of young people trapped in temporary jobs without social security or long-term contracts. According to the International Labor Organization’s Global Employment Trends for Youth 2024 report, over 28% of youth in Southeast Asia and the Pacific were engaged in temporary employment that lacked financial security and social protections in 2023. This situation not only undermines the financial stability of individuals but also has...

September 17, 2024
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August 2024
20Aug

China plans ‘bigger, stronger’ social security fund to aid ageing society

China will beef up its 2.88 trillion yuan ($406 billion) social security fund, making it "bigger and stronger" to help support its rapidly ageing population as the number of new births and younger workforce to support its seniors shrinks. The National Social Security Fund will "effectively" respond to population ageing and "improve the policy mechanism for the development of the elderly care industry," the fund's party secretary Ding Xuedong said in comments made in Communist Party newspaper, the Study Times...

August 20, 2024
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July 2024
31Jul

The 2024 Annual Report of the Board of Trustees of the Federal Old-Age and Survivors Insurance and Federal Disability Insurance Trust Funds

By Social Security Administration The Trustees Report includes many tables containing historical data and projections. For convenience, we provide the reader with links to view all of these tables in one place, without the accompanying text of the report. Note that the tables in the report generally present results only for every fifth year. Therefore, we also provide links to supplemental tables by single year for readers requiring more detail. Reference should always be made to the published report for...

July 31, 2024
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31Jul

When Institutions Interact: How the Effects of Unemployment Insurance are Shaped by Retirement Policies

By Matthew Gudgeon, Pablo Guzman, Johannes F. Schmieder, Simon Trenkle & Han Ye This paper shows empirically that the non-employment effects of unemployment insurance (UI) for older workers depend in a first-order way on the structure of retirement policies. Using German data, we first present reduced-form evidence of these interactions, documenting large bunching in UI inflows at the age that allows workers to claim their pension following UI expiration. We then estimate a dynamic life-cycle model and use it to...

July 31, 2024
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19Jul

Most US adults worry about future of Medicare, Social Security, Gallup poll finds: ‘Magnitude of concern’

Adults in the U.S. are more worried than ever about whether Medicare and Social Security benefits will be available when they need them. In response to a Gallup poll released in June, 75% of adults age 65 and younger said they are “worried” or “extremely worried” about lack of Medicare availability, according to a press release. When it comes to Social Security benefits, 80% of survey respondents said the same. HEALTH CARE IS ‘OVERWHELMINGLY COMPLEX’ FOR OLDER ADULTS, EXPERTS SAY: ‘EVER-INCREASING HURDLE’ Both of those percentages...

July 19, 2024
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May 2024
29May

What is the gig economy and how will it be affected by Uber’s announcement?

Uber's announcement of basic employment rights for its drivers comes after a long-running court battle that could force a shake-up in the so-called gig economy. What is the gig economy? The term describes a way of working where work is assigned on a short-term or job-by-job basis via platforms such as Uber, a taxi app, Deliveroo, a takeaway food service, or courier companies such as Hermes or DPD. Other smaller platforms connect people with opportunities from office and administration work to teaching, gardening and...

May 29, 2024
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10May

Intergenerational redistribution in a pay-as-you-go pension system

By Jacob Lundberg This study provides a comprehensive analysis of the generational wealth transfer within Sweden’s public pay-as-you-go pension system introduced in 1960. Using extensive administrative registers, the paper quantifies the contributions made and benefits received by each birth cohort. The findings reveal a substantial fiscal imbalance favouring the initial generation (born in the early 20th century), who received a net gain of $1.5 trillion in today’s present value, equivalent to up to 13% of their discounted lifetime income. This...

May 10, 2024
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April 2024
26Apr

Social security developments and trends – Europe 2024

By International Social Security Association Europe has historically been home to some of the most advanced social security systems in the world. Many countries in the region provide comprehensive, adequate protection against common life cycle and labour market risks for the vast majority of the population. Widespread protection of individuals over the life course enables social security systems to play a key role in ensuring economic and social stability in the face of large-scale shocks. Despite these broad protections, notable...

April 26, 2024
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