June 2021
01Jun

Ghana. NPRA advises commercial drivers to join third tier pensions

The National Pensions Regulatory Authority (NPRA) has called on commercial drivers to register and benefit from the third tier pension scheme for a secured future. Mr Samuel Baffour Awuah, Corporate Affairs Officer of the NPRA who made the call said the third tier pension provided decent retirement packages for beneficiaries. Speaking at separate sensitization exercises held for taxi and commercial drivers in Sunyani, Mr Awuah explained retirement was inevitable and a reality of life, which could not be escaped whether in...

June 1, 2021
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March 2021
05Mar

What Are the Main Socio-Economic and Behavioral Characteristics That Determine Voluntary Pension Contributions for Self-Employed Workers in Chile?

By Valentina Ciriotto, Camila Cuevas, Francisco Aravena This study contributes to the literature by examining how socio-economic and behavioral characteristics such as neighborhood income inequality and peer effects determine voluntary pension contributions for self-employed workers in Chile. We use a survey representative of the Chilean household sector and we run five different probit regressions to elucidate voluntary contributions to the pension system for self-employed workers. Additionally, we run probit models with a heteroscedastic structure (hetprobit models). The results show that...

March 5, 2021
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February 2021
19Feb

Spain Counts on Citizens to Buy Into Revolution for Pensions

Spain is hoping to entice people to prepare for retirement with a voluntary saving plan as it tries to wean them off relying solely on state pensions. The aim is to set up a fund run by private investment companies by the end of the year, offering Spaniards an affordable alternative to supplement their public pension. But unlike some other countries, the system will require workers to opt in rather than being automatically enrolled. “We think there’s a group of middle-...

February 19, 2021
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January 2021

19Jan

Thousands of UK savers advised to give up final-salary pensions

Tens of thousands of savers were recommended to give up valuable final-salary pensions by advisers using a popular charging model now banned owing to concerns it was fuelling mis-selling, according to data published by the regulator. Last October advisers were barred from providing defined benefit pension transfer advice using the contingent fee model, where they were only paid if the client decided to go ahead with a transfer recommendation. The Financial Conduct Authority acted after becoming concerned the contingent...

January 19, 2021
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08Jan

The Demand for Simple and Flexible Retirement Products

By Pim Koopmans, Marike Knoef, Max van Lent Many people save too little for retirement. This paper studies – using a stated choice experiment – whether simplicity and flexibility can increase the demand for retirement products. We compare the willingness-to-pay (WTP) for self-employed workers and employees, and find that the self-employed are willing to give up 8% of post-retirement benefit in order to avoid having to provide information about their financial situation. In addition, self-employed workers are willing to...

January 8, 2021
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September 2020

04Sep

Homeownership Effect on Retirement Adequacy and Government Transfers in Australia

By John R. Evans, Abdul Razeed Whilst the concept of an asset-based welfare system developed formally in the 1950s there is evidence in Australia that the philosophy developed well before then and has continued through advantages for those able to acquire a home over those that cannot in the retirement system. The net cost to government of the retirement system has been reduced below that which would have applied had the own home asset-based welfare system not been introduced....

September 4, 2020
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August 2020

14Aug

Regulation of the European Parliament and of the Council on a pan-European Personal Pension Product

By EIOPA THE EUROPEAN COMMISSION, Having regard to the Treaty on the Functioning of the European Union, Having regard to Regulation (EU) 2019/1238 of the European Parliament and of the Council of 20 June 2019 on a pan-European Personal Pension Product (PEPP)1 , and in particular the fourth subparagraph of Article 28(5), third subparagraph of Article 30(2), third subparagraph of Article 33(3), second subparagraph of Article 36(2), third subparagraph of Article 37(2), third subparagraph of Article 45(3) and the third subparagraph...

August 14, 2020
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November 2019

25Nov

US. States embrace nudge theory to promote retirement savings

A new government program that takes money out of people’s paycheck is gaining interest in state legislatures across the country — in part because it is wildly popular with voters. Oregon, Illinois and California have launched initiatives to create retirement savings accounts for residents whose employers do not offer company-sponsored programs. In those states, tens of thousands of workers have saved more than $40 million for their own retirements. The programs automatically divert 5 percent...

November 25, 2019
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November 2017

27Nov

The Effect of Non-Contributory Pensions on Labour Supply and Private Income Transfers: Evidence from Singapore

By Yanying Chen (School of Economics, Singapore Management University) & Yi Jin Tan (School of Economics, Singapore Management University) Non-contributory pensions are becoming increasingly prevalent worldwide. As their effects are likely to be context-dependent, evaluating their effects in a wide range of settings is important for establishing the external validity of the non-contributory pension literature. We use a new monthly panel dataset and a difference-in-differences strategy to study the effect of a new non-contributory pension in Singapore (the Silver Support...

November 27, 2017
Aging, Labor Market, Pension design, ,
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October 2017

25Oct

Pensiones a la chilena

por Andrés Solimano Hasta hace poco el tema de las pensiones en Chile pertenecía al ámbito del pequeño grupo que define las políticas públicas en nuestro país, dominado por economistas y sujeto a la fuerte influencia del poderoso gremio de las AFP (Administradoras de Fondos de Pensiones). Sin embargo, desde 2016 el tema pasó de las elites a las masas y se tomó las calles. Consiguió generar un debate nacional y puso en agenda prioritaria el desafío de diseñar un...

October 25, 2017
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