458 Results Found

To adapt to the new demographic trends and foster high-quality and sustainable population growth, this study analyzes the synergistic development of the pension industry and pension career based on the data of 31 provinces in China from 2016 to 2022,...

A gender gap in pensions has recently been discussed in the context of non-discrimination and the sustainability of pension systems. Such systems in Europe are evolving towards strengthening the role of individual contributions from periods of paid w...

Policymakers pushing pension reforms have tended to justify changes on the basis that they would make systems more sustainable by lowering future spending on pensions. This is a rather narrow interpretation of sustainability that fails to consider th...

Taking mortality distribution, surrender value, and tax relief factors into consideration, the authors construct an actuarial model for the influence of personal income tax deferred commercial pension insurance on changes in personal pension wealth a...

Against the background of population aging and economic downturn, the sustainability of pension systems has aroused great concern for governments across the world. To better reflect the pressure of pension payments in the changing context, the paper...

We study the valuation of a pension fund’s obligations in a discrete time and space incomplete market model. The market’s incompleteness stems from the non-replicability of the wage process that finances the pension plan through time. The...

Around three million pensioners receive the Indonesian civil service pension benefit. This benefit is the main source of income for the majority of civil service pensioners. This paper examines the adequacy of this pension benefit from the perspectiv...

This paper presents examination of how a pension policy affects income growth and the inflation rate in a utility model. Even if the contribution rate of pension increases because of an aging society, an aging society increases income growth and the...

This paper studies the impact of fiscal subsidies on the sustainability of China’s rural pension system. We first provide an overview of China’s rural pension system, and explain the formulas used to calculate the pension payments. We the...

Iceland and the Netherlands presently have the best pension systems in the world, according to the Mercer CFA Institute Global Pension Index 2021. In the meantime, Indonesia ranked 35th. This study compares and analyzes Iceland’s and the Nether...

We study the gap between the state pension provided by the Italian pension system pre-Dini reform and post-Dini reform. The goal is to fill the gap between the old and the new pension by joining a defined contribution pension scheme and adopting an o...

This research is aimed at developing a methodology for assessing the efficacy of a macroeconomic model of the Kazakhstani pension provision system. A hierarchy of indicators of the pension system efficacy is built using the graph method. The represen...

Prior research empirically finds that the systematic equity risk for US firms as measured by beta reflects the risk of their defined benefit pension plans, despite opaque and complicated pension accounting rules. This paper re-examines this question...

This study examines the present and retrospective views of mothers who are nearing or are at retirement age regarding their economic status, pension planning, and perceptions of state pension policy. The paper addresses gaps in the literature on the...

The academic research on the spatial distribution of pension institutions is mostly from the perspective of constructing or improving spatial analysis methods. It is not considered that with the development of social science and technology, the facil...

It is of vital importance to examine the relationship between pensions and household consumption/saving because this forms a link between social policy and economic development. Based on theories of absolute income, permanent income, and the life-cyc...

The aim of this paper is to assess the impact of reforms introduced in the operation of Polish open pension funds on management style, risk exposure and related investment performance. The article analyzes the impact of the reformed regulations on th...

The one-child policy was designed as a basic national policy in China and was written into the Constitution in 1982. The main content and purpose of the policy are to advocate late marriage, late childbearing and fewer births to control population gr...

The causal effect of public pensions on the mental wellbeing of the elderly in lower and middle-income countries deserves further investigation. This paper first constructed a theoretical framework for the impact of New Rural Society Pension Insuranc...

Social protection grants play a critical role in survival and livelihoods of elderly individuals in South Africa. Rarely is it possible to assess how well a social program reaches its target population. Using a 2010 survey and Agincourt Health Demogr...

Many countries have been experiencing a crisis in their pension systems for fiscal and demographic reasons. Voluntary pension funds are a way out of the crisis. The depth of the problem lies in the study of social and economic-mathematical aspects in...

Public pay-as-you-go pension systems are affected by sustainability problems due to the increasing longevity of the population. These problems come to light when there is unsustainable growth in pension expenditure in relation to GDP. The usual arran...

We examine the future benefits of the Israeli privatized pension system, which is considered as a model of transition to funded pension systems worldwide. This research is based on an extensive database obtained from one of the largest traditional pr...

With the aim of probing into the life satisfaction of retired urban elderly in China with respect to old age support systems, this study examines the effect of pension reform with its existing inequalities across demographic and social groups on the...

Long-term care coverage is not integrated into an individual’s retirement strategy. It is an additional public health service that is not considered into private pension funds. Nevertheless, this coverage is not sufficient due to the problems of fina...

The paper focuses on the stochastic forecast of the financial sustainability ofbasic pension, based on predictions for the population of China. The population was calculated iteratively by using Leslie matrix. An auto-regressive moving average model...

Flexibilization of employment history is a sign of our time. One of the real consequences of this phenomenon is the risk of a decrease in the level of future pension benefits, which can lead to the deprivation of pension system sustainability. Subsid...

We establish 16 good practice principles for modelling defined contribution pension plans. These principles cover the following issues: model specification and calibration; modelling quantifiable uncertainty; modelling member choices; modelling membe...

In the past 30 years, as sponsors of defined benefit (DB) pension plans were facing more severe underfunding challenges, pension de-risking strategies have become prevalent for firms with DB plans to reduce pension-related risks. However, it remains...

This study aimed to analyze whether formal managers’ qualifications explain the Brazilian pension funds’ disclosure level. It started from the assumption of information asymmetry between stakeholders. We also recognize that the problems r...

The broadly used pay-as-you-go (PAYG) pension system is intrinsically wrong. The essence of the problem is that the PAYG system distributes the yield of raising children, i.e., of human capital investment (which is essentially the pension contributio...

The aim of this paper is to present life expectancy of both genders depending on their income and to determine the impact of a possible regularity on the state pension policy. The study was based on the income of pensioners in Poland (over 5 million...

I show that risk-sharing pension plans can reduce some of the shortcomings of defined benefit and defined contributions plans. The risk-sharing pension plan presented aims to improve the stability of benefits paid to generations of members, while all...

The structure of the Polish pension insurance system, despite many reforms carried out in recent years, is still mainly based on the pay-as-you-go (repartition) pillar. To make it work properly, a constant inflow of participants who will pay contribu...

The purpose of this paper is to explore the impacts of changes in migration flows—in particular, those resulting from possible migration policy changes after a UK exit (‘Brexit’) from the European Union (EU)—on the finances of the UK state pension sy...

To ensure the success of a pension plan under a self-contained defined contribution (DC) retirement plan, the inclusion of foreign assets in a local pension portfolio could be beneficial for risk diversification and the efficient improvement of a fun...

Considering the rapid growth of China’s elderly rural population, establishing both an adequate and a financially sustainable rural pension system is a major challenge. Focusing on financial sustainability, this article defines this concept of financ...

This paper provides an overview of a wide array of research investigating the effects of pension information on different individuals’ economic outcomes. While many studies show that information provision increases knowledge, the evidence is mi...

Faced with the need to adjust public pension systems to meet changing demographic, economic and social conditions, most developed countries have created government reserve funds to ensure macroeconomic sustainability. This paper aims to study the imp...

The private pension is a system designed to maintain an income level during passive periods by utilizing the income earned during active working years. It complements the mandatory retirement systems of the public sector and is based on a voluntary p...

The reform of 2013 represented a qualitative leap in the reform of the Spanish pension system. Unlike its predecessors, it introduced two automatic resetting mechanisms similar to those of other European countries. The first is the sustainability fac...

In this study, we elucidate the income redistribution effects of the proposal to incorporate the Bend Points mechanism of the U.S. OASDI into the Korean National Pension Scheme (BP-KNPS Proposal) through a micro-simulation analysis using individual d...

There is no consensus on the judgment of the adequacy status of the old-age pension benefit in China at present. Therefore, clarification of various types of indicators and benchmarks of pension adequacy is urgently needed. According to the theoretic...

In the context of the aging population, the debt risk and solvency situation of China’s pension plan are of major concern for government and individuals. The aim of this paper is to project public pension liabilities and evaluate the solvency sustain...

The aim of the paper is to investigate how child allowances affect population growth and pension benefits of pay-as-you-go (PAYG) pension systems in small open and closed economies. We apply an overlapping-generations (OLG) model in its canonical for...

We consider accumulative defined contribution pension schemes with a lump sum payment on retirement. These schemes differ in relation to inheritance and provide various decrement factors. For each scheme, we construct the balance equation and obtain...

Pension funds’ growth highlights the need to emphasize fiduciary duty and investment sustainability, considering the current and future participants’ interests (priority stakeholders) and systemic risk reduction (environmental, social, ec...

This paper assesses the relationship between corporate governance practices and the performance of pension funds in Ghana, which is an emerging market. Data for this study came from two sources: surveys of pension fund managers and annual financial r...

Norway is a world leader in gender equality according to sustainable development performance indicators. This study goes beyond these indicators to investigate systemic economic disadvantages for women, focusing specifically on the Norwegian pension...

The role of the voluntary pension fund is to ensure the preservation and increase of their value by investing the collected payments and contributions, and thus the later amount of private pensions for payment. Savings for a private pension is a long...