CDHA CAAR

October 20, 2014

CAAR – US Bureau of Labor Statistics Brief – October 20, 2014

Filed under: Reports and Articles — Tags: — admin @ 4:45 pm

An analysis of multiemployer pension plans,” by William J. Wiatrowski (Pay and Benefits, Vol. 3, No. 22, October 2014, .pdf format, 4p.).

www.bls.gov/opub/btn/volume-3/an-analysis-of-multiemployer-pension-plans.htm

CAAR – International Longevity Centre [UK] Brief – October 20, 2014

Filed under: Reports and Articles — Tags: — admin @ 4:37 pm

Challenges in the new world of pensions,” (October 2014, .pdf format, 4p.).

www.ilcuk.org.uk/index.php/publications/publication_details/challenges_in_the_new_world_of_pensions

October 16, 2014

CAAR – Institute of Economic Affairs [London, UK] Report – October 16, 2014

Filed under: Reports and Articles — Tags: — admin @ 4:36 pm

Growing the pension pot: The case for privatisation,” by Philip Booth and Kristian Niemietz (October 2014, .pdf format, 62p.).

www.iea.org.uk/publications/research/growing-the-pension-pot-the-case-for-privatisation

October 15, 2014

CAAR – Center for Retirement Research at Boston College Briefs – October 15, 2014

Filed under: Reports and Articles — Tags: — admin @ 4:49 pm

A. “Do Public Pensions Help Recruit and Retain High-Quality Workers?” by Alicia H. Munnell, Jean-Pierre Aubry and Geoffrey T. Sanzenbacher (SLP No. 41, October 2014, .pdf format, 10p.).

crr.bc.edu/briefs/do-public-pensions-help-recruit-and-retain-high-quality-workers/

B. “Can PBGC Save Multiemployer Plans?” by Alicia H. Munnell and Jean-Pierre Aubry (IB No. 14-16, September 2014, .pdf format, 9p.).

crr.bc.edu/uncategorized/can-pbgc-save-multiemployer-plans/

CAAR – University of Pennsylvania, Wharton School, Pension Research Council Working Papers – October 15, 2014

Filed under: Working Papers — Tags: , , , — admin @ 4:48 pm

Note: PRC requires free registration before providing working papers.

A. “The Portfolio Pension Plan: An Alternative Model for Retirement Security,” by Richard C. Shea, Robert S. Newman, and Jonathan P. Goldberg (WP2014-13, September 2014, .pdf format, 14p.). Note: Links to the abstract and the full text of the paper available at:

www.pensionresearchcouncil.org/publications/document.php?file=1219

B. “The Promise of Defined Ambition Plans: Lessons for the United States,” by Lans Bovenberg, Roel Mehlkopf, and Theo Nijman (WP2014-15, September 2014, .pdf format, 47p.). Note: Links to the abstract and the full text of the paper available at:

www.pensionresearchcouncil.org/publications/document.php?file=1218

C. “Insights From Switzerland’s Pension System,” by Monika Buetler (WP2014-16, September 2014, .pdf format, 40p.). Note: Links to the abstract and the full text of the paper available at:

www.pensionresearchcouncil.org/publications/document.php?file=1220

D. “The Australian and United States Retirement Income System: Comparisons with and Lessons for the United States,” by Rafal Chomik and John Piggott (WP2014-17, September 2014, .pdf format, 34p.). Note: Links to the abstract and the full text of the paper available at:

www.pensionresearchcouncil.org/publications/document.php?file=1221

E. “Singapore’s Social Security Savings System: A Review and Some Lessons for the United States,” by Benedict S. K. Koh (WP2014-18, September 2014, .pdf format, 64p.). Note: Links to the abstract and the full text of the paper available at:

www.pensionresearchcouncil.org/publications/document.php?file=1222

CAAR – C.D. Howe Institute [Toronto, Ontario, Canada] Brief – October 15, 2014

Filed under: Reports and Articles — Tags: , — admin @ 4:44 pm

Target Benefit Plans: Improving Access for Federally Regulated Employees,” by Randy Bauslaugh (E-Brief No. 186, October 2014, .pdf format, 12p.).

www.cdhowe.org/target-benefit-plans-improving-access-for-federally-regulated-employees/27751

October 14, 2014

CAAR – UK Department of Work and Pensions Report – October 14, 2014

Filed under: Reports and Articles — Tags: , — admin @ 4:45 pm

Workplace pension participation and savings trends: 2003 to 2013,” (October 2014, .pdf and Excel format, 22p.).

www.gov.uk/government/statistics/workplace-pension-participation-and-savings-trends-2003-to-2013

October 9, 2014

CAAR – University of Pennsylvania, Wharton School, Pension Research Council Working Paper – October 9, 2014

Filed under: Working Papers — Tags: , — admin @ 4:46 pm

Note: PRC requrires free registration before providing working papers. “Retirement Shares Plan: A New Model of Risk Sharing,” by Donald E. Fuerst (WP2014-12, September 2014, .pdf format, 18p.). Note: Links to the abstract and the full text of the paper available at:

www.pensionresearchcouncil.org/publications/document.php?file=1216

October 3, 2014

CAAR – US Census Bureau Data Update – October 3, 2014

Filed under: Data Files — Tags: — admin @ 5:00 pm

Quarterly Survey of Public Pensions: State & Local Government – 2014 Second Quarter,” (September 2014, Excel format).

www.census.gov/govs/qpr/

October 2, 2014

CAAR – Pension Research Council, Wharton School, University of Pennsylvania Working Papers – October 2, 2014

Filed under: Working Papers — Tags: — admin @ 3:18 pm

Note: PRC requires free registration before providing working papers.

A. “Risk-sharing Alternatives for Pension Plan Design: An Overview and Case Studies,” by Anna M. Rappaport and Andrew Peterson (WP2014-09, October 2014, .pdf format, 40p.). Note: Links to the abstract and the full text of the paper available at:

www.pensionresearchcouncil.org/publications/document.php?file=1213

B. “Cultivating Pension Plans,” by John M. Vine (WP2014-14, September 2014, .pdf format, 44p.). Note: Links to the abstract and the full text of the paper available at:

www.pensionresearchcouncil.org/publications/document.php?file=1214

October 1, 2014

CAAR – Pension Research Council, Wharton School, University of Pennsylvania Working Paper – October 1, 2014

Filed under: Working Papers — Tags: — admin @ 4:49 pm

Back to the Future: Hybrid Co-operative Pensions and the TIAA-CREF System,” by Benjamin Goodman and David P. Richardson (WP2014-11, September 2014, .pdf format, 33p.). Note: Links to the abstract and the full text of the paper available at:

www.pensionresearchcouncil.org/publications/document.php?file=1212

September 30, 2014

CAAR – UK Parliamentary Library Notes – September 30, 2014

Filed under: Reports and Articles — Tags: — admin @ 4:43 pm

Flexibility for DC pension savers from April 2015,” by Djuna Thurley (SN06891, September 2014, .pdf format, 59p.).

www.parliament.uk/briefing-papers/SN06891/flexibility-for-dc-pension-savers-from-april-2015

September 29, 2014

CAAR – US Social Security Administration, Research, Statistics, & Policy Report, Periodical – September 29, 2014

Filed under: Reports and Articles — Tags: , — admin @ 4:40 pm

A. “Social Security Programs Throughout the World: Europe, 2014,” (September 2014, .pdf and HTML format, 325p.).

www.ssa.gov/policy/docs/progdesc/ssptw/2014-2015/europe/index.html

B. “Fast Facts & Figures About Social Security, 2014,” (September 2014, .pdf format, 37p.).

www.ssa.gov/policy/docs/chartbooks/fast_facts/2014/index.html

CAAR – Pension Research Council, Wharton School, University of Pennsylvania Working Paper – September 29, 2014

Filed under: Working Papers — Tags: — admin @ 4:38 pm

United States Pension Benefit Plan Design Innovation: Labor Unions as Agents of Change,” by David S. Blitzstein (WP2014-10, September 2014, .pdf format, 23p.). Note: Links to the abstract and the full text of the paper available at:

www.pensionresearchcouncil.org/publications/document.php?file=1211

September 26, 2014

CAAR – Statistics Netherlands Article – September 26, 2014

Filed under: Reports and Articles — Tags: , — admin @ 4:40 pm

Ageing population pushes up spending on state pensions,” (September 2014).

www.cbs.nl/en-GB/menu/themas/arbeid-sociale-zekerheid/publicaties/artikelen/archief/2014/2014-4131-wm.htm

September 25, 2014

CAAR – UK Office for National Statistics Statistical Bulletins – September 25, 2014

Filed under: Reports and Articles — Tags: , , — admin @ 4:21 pm

A. “Estimates of the Very Old (including Centenarians) for England and Wales, United Kingdom, 2002 to 2013,” (September 2014, .pdf and HTML format, 16p.).

www.ons.gov.uk/ons/rel/mortality-ageing/estimates-of-the-very-old–including-centenarians-/2002—2013–england-and-wales–united-kingdom-/stb-2002-2013-estimates-of-the-very-old.html

B. “National Life Tables, United Kingdom, 2011-2013,” (September 2014, .pdf and HTML format, 15p.).

www.ons.gov.uk/ons/rel/lifetables/national-life-tables/2011-2013/stb-uk-2011-2013.html

C. “Occupational Pension Schemes Survey, 2013,” (September 2014, .pdf and HTML format, 40p.).

www.ons.gov.uk/ons/rel/fi/occupational-pension-schemes-survey/2013/stb-opss.html

CAAR – UK Parliamentary Library Research Note – September 25, 2014

Filed under: Reports and Articles — Tags: — admin @ 4:20 pm

Regulation of work-based DC pension schemes,” by Djuna Thurley (SN06986, September 2014, .pdf format, 16p.).

www.parliament.uk/briefing-papers/SN06986/regulation-of-workbased-dc-pension-schemes

September 24, 2014

CAAR – Pension Research Council, Wharton School, University of Pennsylvania Working Paper – September 24, 2014

Filed under: Working Papers — Tags: — admin @ 4:46 pm

Note: PRC requires free registration before providing working papers.

Entitlement Reform and the Future of Pensions,” by C. Eugene Steuerle, Benjamin H. Harris and Pamela J. Perun (WP2014-08, September 2014, .pdf format, 28p.). Note: Links to the abstract and the full text of the paper available at:

www.pensionresearchcouncil.org/publications/document.php?file=1210

September 23, 2014

CAAR – Tables of Contents – September 23, 2014

Filed under: Journal Table of Contents — Tags: , — admin @ 4:36 pm

Journal of the American Geriatrics Society (Vol. 62, No. 9, September 2014).

onlinelibrary.wiley.com/doi/10.1111/jgs.2014.62.issue-9/issuetoc

Rotman International Journal of Pension Management (Vol. 7, No. 2, Fall 2014).

www.rijpm.com/journal/journal

September 18, 2014

CAAR – European Central Bank Working Paper – September 18, 2014

Filed under: Working Papers — Tags: — admin @ 4:34 pm

Pensions and fertility: back to the roots – The introduction of Bismarck’s pension scheme and the European fertility decline,” by Robert Fenge and Beatrice Scheubel (No. 1734, September 2014, .pdf format, 49p.).

Abstract:

Fertility has long been declining in industrialised countries and the existence of public pension systems is considered as one of the causes. This paper provides detailed evidence based on historical data on the mechanism by which a public pension system depresses fertility. Our theoretical framework highlights that the effect of a public pension system on fertility works via the impact of contributions in such a system on disposable income as well as via the impact on future disposable income that is related to the internal rate of return of the pension system. Drawing on a unique historical data set which allows us to measure these variables at a jurisdictional level for a time when comprehensive social security was introduced, we estimate the effects predicted by the model. We find that beyond the traditional determinants of the first demographic transition, a lower internal rate of return of the pension system is associated with a higher birth rate. This result is robust to including the traditional determinants of the first demographic transition as controls as well as to other policy changes at the time.

www.ecb.europa.eu/pub/pdf/scpwps/ecbwp1734.pdf

September 17, 2014

CAAR – US Social Security Administration, Office of Retirement and Disability Policy Periodical, Issue Brief – September 17, 2014

Filed under: Reports and Articles — Tags: , — admin @ 4:50 pm

A. International Update, September 2014 (September 2014, .pdf format, 3p.).

www.ssa.gov/policy/docs/progdesc/intl_update/2014-09/index.html

B. “Proposed Revisions to the Special Minimum Benefit for Low Lifetime Earners,” by Glenn R. Springstead, Kevin Whitman, and Dave Shoffner (Policy Brief No. 2014-01, September 2014, .pdf and HTML format, 8p.).

www.ssa.gov/policy/docs/policybriefs/pb2014-01.html

CAAR – US House Committee on Ways and Means, Subcommittee on Select Revenue Measures (Tax) Hearing Testimony – September 17, 2014

Filed under: Legislation Information Updates — Tags: — admin @ 4:46 pm

Hearing on Private Employer Defined Benefit Pension Plans,” a hearing held September 17, 2014 (witness statements available in .pdf format).

waysandmeans.house.gov/calendar/eventsingle.aspx?EventID=393078

CAAR – Tables of Contents – September 17, 2014

Filed under: Journal Table of Contents — Tags: , , — admin @ 4:40 pm

Journal of Alzheimer’s Disease (Vol. 42, No. 3, 2014).

iospress.metapress.com/content/p24471431146/

Journal of Applied Gerontology (Vol. 33, No. 7, October 2014).

jag.sagepub.com/content/33/7.toc

Journal of Pension Economics and Finance (Vol. 13, No. 4, October 2014).

journals.cambridge.org/action/displayIssue?decade=2010&jid=PEF&volumeId=13&issueId=04&iid=9351316

September 15, 2014

CAAR – C.D. Howe Institute [Toronto, Ontario, Canada] Brief – September 15, 2014

Filed under: Reports and Articles — Tags: , — admin @ 4:39 pm

The Overlooked Option for Boosting Retirement Savings: Higher Limits for RRSPs,” by Alexandre Laurin (September 2014, .pdf format, 11p.).

www.cdhowe.org/the-overlooked-option-for-boosting-retirement-savings-higher-limits-for-rrsps/27464

September 11, 2014

CAAR – UK Office for National Statistics Statistical Bulletin – September 11, 2014

Filed under: Reports and Articles — Tags: — admin @ 4:04 pm

Characteristics of People and Households Without a Private Pension,” (September 2014, .pdf and HTML format, 14p.).

www.ons.gov.uk/ons/rel/pensions/pensions-short-stories/characteristics-of-people-and-households-without-a-private-pension/characteristics-of-people-short-story.html

September 9, 2014

CAAR – Institute for Fiscal Studies [London, UK] Working Papers – September 9, 2014

Filed under: Working Papers — Tags: , , — admin @ 4:24 pm

A. “Cash and Pensions: Have the elderly in England saved optimally for retirement,” by Rowena Crawford and Cormac O’Dea (W14/22, September 2014, .pdf format, 36p.). Note: Links to the abstract and the full text of the paper available at:

www.ifs.org.uk/publications/7357

B. “Retirement sorted? The adequacy and optimality of wealth among the near-retired,” by Rowena Crawford and Cormac O’Dea (W14/23, September 2014, .pdf format, 51p.). Note: Links to the abstract and the full text of the paper available at:

www.ifs.org.uk/publications/7358

CAAR – UK Parliamentary Library Research Note – September 9, 2014

Filed under: Reports and Articles — Tags: — admin @ 4:19 pm

Public service pensions – the employer cost cap,” by Djuna Thurley (SN06971, September 2014, .pdf format, 19p.).

www.parliament.uk/briefing-papers/SN06971/public-service-pensions-the-employer-cost-cap

September 8, 2014

CAAR – US Social Security Administration, Research, Statistics, & Policy Reports, Periodicals – September 8, 2014

Filed under: Reports and Articles — Tags: , , — admin @ 4:53 pm

A. “OASDI Beneficiaries by State and ZIP Code, 2013,” (September 2014, .pdf, Excel, and HTML format, 714p.).

www.ssa.gov/policy/docs/statcomps/oasdi_zip/2013/index.html

B. “SSI Annual Statistical Report, 2013,” (September 2014, .pdf and Excel format, 163p.).

www.ssa.gov/policy/docs/statcomps/ssi_asr/2013/index.html

C. International Update, August 2014 (August 2014, .pdf format, 3p.).

www.ssa.gov/policy/docs/progdesc/intl_update/2014-08/index.html

D. SSI Monthly Statistics, August 2014 (September 2014, .pdf and HTML format).

www.ssa.gov/policy/docs/statcomps/ssi_monthly/2014-08/index.html

September 4, 2014

CAAR – Urban Institute Report – September 4, 2014

Filed under: Reports and Articles — Tags: — admin @ 4:27 pm

Assessing Pension Benefits Paid under Pennsylvania’s State Employees’ Retirement System,” by Richard W. Johnson, Barbara Butrica, Owen Haaga, and Benjamin G. Southgate (September 2014, .pdf format, 25p.).

www.urban.org/publications/413221.html

September 3, 2014

CAAR – Center for Retirement Research at Boston College Issue Brief – September 3, 2014

Filed under: Reports and Articles — Tags: — admin @ 4:41 pm

The Financial Status of Private Sector Multiemployer Pension Plans,” by Alicia H. Munnell and Jean-Pierre Aubry (IB No. 14-14, September 2014, .pdf format, 12p.).

crr.bc.edu/briefs/the-financial-status-of-private-sector-multiemployer-pension-plans/

August 27, 2014

CAAR – US Census Bureau Data Release – August 27, 2014

Filed under: Data Files — Tags: — admin @ 4:40 pm

2013 Survey of Public Pensions: State Data,” (August 2014, ASCII text (data), Excel, and .pdf (documentation) format).

www.census.gov/govs/retire/state_retire.html

CAAR – UK Department of Work and Pensions Report – August 27, 2014

Filed under: Reports and Articles — Tags: — admin @ 4:37 pm

Pension Schemes Bill 2014 to 2015 delegated powers,” (June 2014, .pdf format, 31p.).

www.gov.uk/government/publications/pension-schemes-bill-2014-to-2015-delegated-powers

August 22, 2014

CAAR – UK Parliamentary Library Research Paper, Standard Note – August 22, 2014

Filed under: Reports and Articles — Tags: , — admin @ 4:28 pm

A. “Pension Schemes Bill,” by Djuna Thurley and Roderick McInnes (RP 14/44, August 2014, .pdf format, 78p.).

www.parliament.uk/briefing-papers/RP14-44/pension-schemes-bill

B. “Assisted suicide,” by Sally Lipscombe and Sarah Barber (SN04857, August 2014, .pdf format, 26p.).

www.parliament.uk/briefing-papers/SN04857/assisted-suicide

CAAR – Central Bank of Iceland Working Paper – August 22, 2014

Filed under: Working Papers — Tags: — admin @ 4:26 pm

Should Icelandic pension funds hedge currency risk in their foreign investments?” by Asgeir Daníelsson (Working Papner No. 65, August 2014, .pdf format, 30p.).

Abstract:

This paper discusses efficient hedging of currency risk in foreign investments through short term forward contracts. It is shown that for long term investors the efficient level of currency hedging depends on the behaviour of the exchange rate. If the exchange rate follows random walk the efficient hedging of the currency risk may be as large as it is for the short term investor, or possibly larger, but if the exchange rate follows a stationary stochastic process efficient hedging of the long term currency risk through short term forward contracts is zero in most cases. It is also shown that pass through of changes in the exchange rate into inflation forms a partial hedge for an investor that considers the real return and its volatility rather than the nominal return, diminishing the efficient level of forward currency contracts. It is shown that it is possible to use forward currency contracts for speculative investments. These contracts are profitable investment opportunities if the interest rate di¤erential exceeds the expected change in the exchange rate. This same condition motivated the carry trade.

www.sedlabanki.is/lisalib/getfile.aspx?itemid=e2b2e32b-2398-11e4-93f5-005056bc0bdb

August 19, 2014

CAAR – Center for Economic Studies/Ifo Institute for Economic Research (CESifo) [Munich, Bavaria, Germany] Working Paper – August 19, 2014

Filed under: Working Papers — Tags: — admin @ 4:33 pm

Optimal Redistributive Pensions and the Cost of Self-Control,” by Pier-Andre Bouchard St-Amant and Jean-Denis Garon (CESifo Working Paper No. 4937, August 2014, .pdf format, 28p.). Note: Links to the abstract and the full text of the paper available at:

www.cesifo-group.de/ifoHome/publications/working-papers/CESifoWP/CESifoWPdetails?wp_id=19121532

August 18, 2014

CAAR – US Bureau of Economic Analysis Report – August 18, 2014

Filed under: Reports and Articles — Tags: — admin @ 4:49 pm

Private Defined Benefit Pension Plans in the U.S. National Accounts: Accrual Measures for the 2013 Comprehensive Revision,” by Dylan G. Rassier (August 2014, .pdf format, 33p.).

With the comprehensive revision of the U.S. National Income and Product Accounts published in July 2013, the U.S. Bureau of Economic Analysis introduced new accrual-based measures of income generated by defined benefit (DB) pension plans. In addition to the improved measurement, BEA introduced a new DB pension subsector and a new set of tables that provide a complete picture of transactions conducted in the DB pension subsector. Separate tables were introduced for each sector of employers that sponsor DB plans: business or private sector, state and local government sector, and federal government sector. This paper summarizes the methodology for each of the estimated series included in the table for DB plans sponsored by business or private sector employers (i.e., private plans). In addition, the paper provides general background information on DB pension plans and summarizes the DB pension subsector and the related table for private DB plans.

www.bea.gov/papers/pdf/Private%20DB%20Pension%20Plan%20Benchmark%20Methodology%20August%202014.pdf

August 14, 2014

CAAR – Center for Retirement Research at Boston College Issue Brief – August 14, 2014

Filed under: Reports and Articles — Tags: — admin @ 4:50 pm

Private Sector Multiemployer Pension Plans – A Primer,” by Alicia H. Munnell and Jean-Pierre Aubry (IB No. 14-13, August 2014, .pdf format, 12p.).

crr.bc.edu/briefs/private-sector-multiemployer-pension-plans-a-primer/

CAAR – Employee Benefit Research Institute Periodical, Issue Brief – August 14, 20-14

Filed under: Reports and Articles — Tags: , — admin @ 4:49 pm

A. EBRI Notes (Vol. 35, No. 8, August 2014, .pdf format). Note: The two articles in this issue are: “Satisfaction With Health Coverage and Care: Findings from the 2013 EBRI/Greenwald & Associates Consumer Engagement in Health Care Survey,” by Paul Fronstin; and, “Contributory “Negligence?” The Impact of Future Contributions to Defined Contribution Plans on Retirement Income Adequacy for Gen Xers,” by Jack VanDerHei.

www.ebri.org/publications/notes/index.cfm?fa=notesDisp&content_id=5439

B. “”Crisis” Management: Uncertainty and the Workplace,” by Nevin Adams and Dallas Salisbur (Issue Brief No. 403, August 2014, .pdf format, 20p.).

www.ebri.org/publications/ib/index.cfm?fa=ibDisp&content_id=5435

August 6, 2014

CAAR – Institute for Fiscal Studies [London, UK] Working Paper – August 6, 2014

Filed under: Working Papers — Tags: — admin @ 4:31 pm

From Me to You? How the UK State Pension System Redistributes,” by Rowena Crawford , Soumaya Keynes and Gemma Tetlow (w14/20, August 2014, .pdf format, 62p.). Note: Links to the abstract and the full text of the paper available at:

www.ifs.org.uk/publications/7324

August 4, 2014

CAAR – US Social Security Administration, Research, Statistics, & Policy Periodicals, Report – August 4, 2014

Filed under: Reports and Articles — Tags: , , , — admin @ 4:23 pm

A. Social Security Bulletin (Vol. 74, No. 3, August 2014, .pdf and HTML format, 69p.).

www.ssa.gov/policy/docs/ssb/v74n3/index.html

B. International Update, July 2014 (July 2014, .pdf format, 3p.).

www.ssa.gov/policy/docs/progdesc/intl_update/2014-07/index.html

C. SSI Monthly Statistics, June 2014 (July 2014, .pdf and HTML format).

www.ssa.gov/policy/docs/statcomps/ssi_monthly/2014-06/index.html

D. SSI Recipients by State and County, 2013 (July 2014, .pdf, Excel, and HTML format, 117p.).

www.ssa.gov/policy/docs/statcomps/ssi_sc/2013/index.html

July 28, 2014

CAAR – Banque de France Working Paper – July 28, 2014

Filed under: Working Papers — Tags: , , , — admin @ 4:56 pm

Retirement, Early Retirement and Disability: Explaining Labor Force Participation after 55 in France,” by Luc Behaghel, Didier Blanchet and Muriel Roger (Working Paper No. 500, 2014, .pdf format, 43p.). Note: Links to the abstract and the full text of the paper available at:

www.banque-france.fr/en/economics-statistics/research/working-paper-series/document/500-1.html

CAAR – Banco De Espana Working Papers – July 28, 2014

Filed under: Working Papers — Tags: — admin @ 4:55 pm

A. “The automatic adjustment of pension expenditures in Spain: an evaluation of the 2013 pension reform,” by Alfonso R. Sanchez (Working Paper 1420, July 2014, .pdf format, 57p.).

Abstract:

This paper simulates the future performance of the Spanish pension system using a large OLG model. We compare the system in place after the 2011 pension reform to that emerging after the latest (2013) institutional changes. In particular, we explore the workings of the new indexing mechanism, linking pension payments to life expectancy and to the system’s aggregate flows of income and expenditure. We consider several alternative eco-demographic environments in our analysis and assess the welfare consequences for the different cohorts affected. Overall, the new automatic adjusting mechanism is broadly successful in its goal of stabilising the financial condition of the system. But the welfare costs imposed on some cohorts (e g. young workers at the beginning of the reform) is very heavy.

www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/14/Fich/dt1420e.pdf

B. “From Bismarck to Beveridge: the other pension reform in Spain,” by J. Ignacio Conde-Ruiz and Clara I. Gonzalez (Working Paper 1417, July 2014, .pdf format, 36p.).

Abstract:

Aging is an unstoppable process and it remains a major challenge for the sustainability of the PAYG pension system in most developed countries, including in Spain. Many countries need to introduce reforms of their pension systems in order to control their expenditure, and in some cases this has already begun. However, there are other sorts of changes to certain parameters that are perceived as secondary, e.g. the different path of minimum and maximum pensions, and the upper and lower caps on contributions. This has significant implications for the distributive structure of the social security system that cannot be readily perceived by the population. That is why some economists in Spain refer to it as the “Silent Reform”. The aim of this paper is to analyse the consequences this type of reform would have in Spain; indeed, it is the first paper to actually quantify and evaluate the potential impact it would have on the country. We have used an accounting model with heterogeneous agents and overlapping generations in order to project pension expenditures up until 2070. The results show that this kind of reform could potentially contain future expenditure and could also change the nature of the pension system from a contributory or Bismarckian-type system into an assistential or Beveridgean-type one. This change could have significant consequences as both systems have different objectives. The paper also shows that the institutional characteristics that make this kind of reform in Spain feasible are also present in most developed countries with Bismarckian pension systems. Therefore, we believe that the lessons learned in this paper on this kind of reform could well prove useful to other countries.

www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/14/Fich/dt1417e.pdf

July 21, 2014

CAAR – Banco de Mexico Working Paper – July 21, 2014

Filed under: Working Papers — Tags: , — admin @ 4:35 pm

The Effects of a Non-Contributory Pension Program on Labor Force Participation: The Case of 70 y Más in Mexico,” by Laura Juarez González and Tobias Pfutze (Working Paper No. 2014-12, June 2014, .pdf format, 53p.).

Abstract:

We estimate the effect of 70 y Mas, an age-conditioned transfer program for individuals age 70 and older in rural Mexico, on the labor force participation of beneficiaries and of younger individuals who live with them. Using data from the 2010 Mexican Census, we exploit the age and locality population thresholds to identify the effects of the program. We find that the program reduces the labor force participation of elderly men, particularly of those who live alone and who are relatively poor, but has a much weaker effect on that of elderly women. The program has no statistically significant effect on the labor force participation of either prime-age men or women who live with potential beneficiaries, and it has a negative and significant effect on the labor force participation of boys age 12 to 17, particularly those in the lowest wealth quintiles, but not on that of same-age girls. These results suggest that the program affects mostly the labor supply of the intended beneficiaries, and that of marginal workers, like adolescent boys.

www.banxico.org.mx/publicaciones-y-discursos/publicaciones/documentos-de-investigacion/banxico/%7B55E1092D-D801-7F44-EFA3-8C4FBE4074C7%7D.pdf

July 16, 2014

CAAR – UK Department of Work and Pensions Report – July 16, 2014

Filed under: Reports and Articles — Tags: — admin @ 4:58 pm

Employers’ pension provision survey 2013,” (Research Report No. 881, July 2014, .pdf format, 147p.).

www.gov.uk/government/publications/employers-pension-provision-survey-2013

July 10, 2014

CAAR – Organisation for Economic Co-operation and Development Economics Department Working Papers – July 10, 2014

Filed under: Working Papers — Tags: — admin @ 4:40 pm

A. “Comparing the Robustness of PAYG Pension Schemes,” by Falilou Fall (Working Paper No. 1134, July 2014, .pdf format, 32p.). Note: Links to the abstract and the full text of the paper available at:

www.oecd-ilibrary.org/economics/comparing-the-robustness-of-payg-pension-schemes_5jz158w3ghmx-en

B. “Overcoming Vulnerabilities of Pension Systems,” by Falilou Fall and Debra Bloch (Working Paper No. 1133, July 2014, .pdf format, 50p.). Note: Links to the abstract and the full text of the paper available at:

www.oecd-ilibrary.org/economics/overcoming-vulnerabilities-of-pension-systems_5jz1591prxth-en

CAAR – C.D. Howe Institute [Toronto, Ontario, Canada] Commentary – July 10, 2014

Filed under: Reports and Articles — Tags: — admin @ 4:39 pm

Target-Benefit Plans in Canada – An Innovation Worth Exploring,” by Anglea Mazerolle, Jana Steele, and Mel Bartlett (No. 411, July 2014, .pdf format, 20p.).

www.cdhowe.org/target-benefit-plans-in-canada-an-innovation-worth-exploring/26674

July 9, 2014

CAAR – US Government Accountability Office Reports – July 9, 2014

Filed under: Reports and Articles — Tags: — admin @ 4:34 pm

A. “Pension Advance Transactions: Questionable Business Practices Identified,” (GAO-14-420, June 2014, .pdf format, 65p.).

www.gao.gov/products/GAO-14-420

B. “Private Pensions: Targeted Revisions Could Improve Usefulness of Form 5500 Information,” (GAO-14-441, June 2014, .pdf format, 83p.).

www.gao.gov/products/GAO-14-441

CAAR – Center for Retirement Research at Boston College Issue Briefs – July 9, 2014

Filed under: Reports and Articles — Tags: , — admin @ 4:33 pm

A. “An Update on Pension Obligation Bonds,” by Alicia H. Munnell, Jean-Pierre Aubry and Mark Cafarelli (SLP No. 40, July 2014, .pdf format, 12p.).

crr.bc.edu/briefs/an-update-on-pension-obligation-bonds/

B. “Medicaid and the Elderly,” by Mariacristina De Nardi, Eric French and John Bailey Jones (IB No. 14-10, June 2014, .pdf format, 7p.).

crr.bc.edu/briefs/medicaid-and-the-elderly/

CAAR – US Department of Labor Testimony – July 9, 2014

Filed under: Reports and Articles — Tags: , — admin @ 4:32 pm

Witness statements from the 2014 ERISA Advisory Council session are now available (.pdf format).

www.dol.gov/ebsa/aboutebsa/erisa_advisory_council.html#section6

CAAR – UK House of Commons Scottish Affairs Committee Report – July 9, 2014

Filed under: Legislation Information Updates — Tags: — admin @ 4:23 pm

The Referendum on Separation for Scotland: Implications for Pensions and Benefits,” (July 2014, .pdf and HTML format, 30p.).

HTML:

www.publications.parliament.uk/pa/cm201415/cmselect/cmscotaf/498/49802.htm

PDF:

www.publications.parliament.uk/pa/cm201415/cmselect/cmscotaf/498/498.pdf

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