January 2023
26Jan

Older Adults and Technology Use

By: Aaron Smith America’s seniors have historically been late adopters to the world of technology compared to their younger compatriots, but their movement into digital life continues to deepen, according to newly released data from the Pew Research Center. In this report, we take advantage of a particularly large survey to conduct a unique exploration not only of technology use between Americans ages 65 or older and the rest of the population, but within the senior population as well. Two different groups of older Americans...

January 26, 2023
Aging, Books, Books, ,
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24Jan

UK. The role of the Regulator in monitoring and enforcing pensions dashboards compliance

The Pensions Regulator ("TPR") is responsible for ensuring that all in scope occupational pension schemes comply with their duties under the Pensions Dashboards Regulations 2022 (the "Regulations"). The Regulations introduce new legal duties for trustees and scheme managers – discussed in more detail in our previous blog – and give TPR the power to monitor their compliance and take enforcement action if necessary. With the connection deadlines for some of the UK's largest pension schemes edging ever closer, TPR...

January 24, 2023
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20Jan

Solving the aging population care crisis via the metaverse

Currently, there are over 1.2 million residents in United States nursing homes, and over 800,000 residents of assisted living facilities. As the Baby Boomer population ages, these numbers are projected to skyrocket—by 2050, up to 30 million people in the Americas will require long-term care services. In other words, there are going to be a lot of people in need of quality care. Lubin graduate students Chuk Ezuma ’23 and Rikin Gajjar ’23 spent much of the fall semester thinking about...

January 20, 2023
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10Jan

UK. The key legal issues for pension schemes in 2023

After what proved to be an eventful year for schemes in 2022, top pension lawyers speak to Jasmine Urquhart about what they think will be some of the key legal and regulatory issues during the year ahead. Pensions dashboards At the top of the list for many lawyers consulted was the forthcoming introduction of pensions dashboards. As well as connecting to dashboards by their staging deadline, schemes must act on ‘find requests' and ‘view requests' relating to individuals, and provide members...

January 10, 2023
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December 2022
02Dec

Are Retirement Planning Tools Substitutes or Complements to Financial Capability?

By Gopi Goda, Matthew Levy, Colleen Flaherty Manchester, Aaron Sojourner, Joshua Tasoff & Jiusi Xiao We conduct a randomized controlled trial to understand how a web-based retirement saving calculator affects workers' retirement-savings decisions. In both conditions, the calculator projects workers' retirement income goal. In the treatment condition, it also projects retirement income based on defined-contribution savings, prominently displays the gap between projected goal and actual retirement income, and allows users to interactively explore how alternative, future contribution choices would affect...

December 2, 2022
Articles, Labor Market, Pension design, , ,
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November 2022
03Nov

How technology can support pensions for the underserved

New technologies, including central bank digital currencies, can help to better distribute and protect wealth PROVIDING pension support for workers in the informal sector has always been a challenge. At a recent Green Shoots session held at Prudential Singapore’s office, panellists discussed how the use of technology and digital tokens can help facilitate the distribution of micro pensions, and what challenges remain. Micro pensions refer to small sums of money saved by self-employed individuals, that are then invested to yield...

November 3, 2022
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02Nov

FCA extends pensions dashboard deadline by two months

FCA regulated pension providers have been given an extra two months to comply with the regulator's pensions dashboard rules. In the final rules for the regulations published today (November 1), the Financial Conduct Authority said providers will now have until August 31 for implementation, to align with the government’s extension to a deadline on occupational pension schemes. The FCA has also extended the connection deadline for providers with fewer than 5,000 pots in accumulation and who rely on a third-party integrated...

November 2, 2022
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01Nov

UK. Pension dashboards near live testing stage

The Pensions Dashboards Programme has moved into the testing of digital architecture phase, with more than 20 organisations taking part as early participants, programme principal Chris Curry has said. The next stage of the process will see early participants, including pension providers, schemes and integrated service providers, connecting to the “dashboards ecosystem”. In an update report on the programme, Curry said the central digital architecture has been completed and testing is now underway alongside the development of operational and technical standards. “Over...

November 1, 2022
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October 2022
26Oct

Nigeria. How data analytics, artificial intelligence will help PFAs enhance customer service

The importance of Artificial Intelligence (AI), Data Analytics and Big Data in helping business drive transformation and customer management has attracted the attention of Pension Fund Administrators(PFAs) and players in the pension industry. According them, these have a key role to play in shaping how industries evolve, and has become a massive force driving the transformation of all businesses in today’s world. With this in mind the Pension Fund Operators Association of Nigeria (PenOp) recently put together a seminar for the...

October 26, 2022
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05Oct

Ghana. SSNIT adopts mobile money services next week

The Social Security and National Insurance Trust (SSNIT) will, from next week, adopt mobile money services as part of measures to enhance service delivery of the Trust. This was made known by the Director-General of SSNIT, Dr. John Ofori-Tenkorang, at the launch of the Trust’s annual Mobile Service Week at Ho in the Volta Region. With the new services, members can pay their contributions via MoMo, and retirees can choose to receive their pensions via MoMo. “I am happy to announce that...

October 5, 2022
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