2014

Recruiting and Retaining High-Quality State and Local Workers: Do Pensions Matter?

Recruiting and Retaining High-Quality State and Local Workers: Do Pensions Matter?

fredag, 09 januar 2015
  • Many state and local governments have responded to challenges facing their pension plans by cutting benefits.  Will these cuts make it harder for state and local governments to recruit and retain high-quality workers?  To date, the answer has been difficult to obtain; most micro-level datasets contain information on the existence of pensions but not on pension generosity.

Additional Leave as the Determinant of Retirement Timing – Retaining Older Workers in Norway

Additional Leave as the Determinant of Retirement Timing – Retaining Older Workers in Norway

onsdag, 07 januar 2015
  • Faced with a rapidly aging labor force, increasing the labor supply of older workers has become an important goal for European countries. Offering additional leave to older workers with the option of withdrawing a contractual pension (contractual early retirement pension AFP) has become a widespread retention measure in Norwegian companies.

The Australian Retirement Income System: Comparisons with and Lessons for the United States

The Australian Retirement Income System: Comparisons with and Lessons for the United States

onsdag, 07 januar 2015
  • Australia has an atypical retirement income system: it comprises a flat-rate, non-contributory, affluence-tested age pension, and a mandatory, defined contribution accumulation plan to which employers must contribute 9.25% (moving to 12%) of wages on behalf of their employees.

How complex are the decisions that pension savers need to make at retirement?

How complex are the decisions that pension savers need to make at retirement?

onsdag, 07 januar 2015
  • With automatic enrolment now well under way and around 9 million employees expected to be newly saving or saving more in pension schemes by 2018, there has been increasing focus on the design and quality of Defined Contribution (DC) schemes. So far the focus has mainly been on the accrual stage, employer contribution levels, the design of default investment strategies, and the level and transparency of charges.

A Multivariate Forward-Rate Mortality Framework

A Multivariate Forward-Rate Mortality Framework

tirsdag, 06 januar 2015
  • Stochastic mortality models have been developed for a range of applications from demographic projections to financial management. Financial risk based models build on methods used for interest rates and apply these to mortality rates. They have the advantage of being applied to financial pricing and the management of longevity risk.

Financial Work Incentives for Disability Benefit Recipients: Lessons from a Randomised Field Experiment

Financial Work Incentives for Disability Benefit Recipients: Lessons from a Randomised Field Experiment

mandag, 05 januar 2015
  • Disability insurance (DI) beneficiaries lose part of their benefits if their earnings exceed certain thresholds (“cash-cliffs”). This implicit taxation is considered the prime reason for low DI outflow.

Housing Wealth as a Supplement on Pension Savings

Housing Wealth as a Supplement on Pension Savings

mandag, 05 januar 2015
  • Mortgage debt in the Netherlands is the highest among all countries in Europe. At the same time, the dutch pension system has always been regarded as one of the best worldwide, mainly because of the high replacement rates.

En pensjonsreform mot alle odds

En pensjonsreform mot alle odds

torsdag, 18 desember 2014
  • At den svære pensjonsreformen kom seg gjennom demokratiets mølle brøt med gjengse teorier. Helt over målstreken kom likevel reformen ikke, ifølge forsker.

Mortality Assumptions and Longevity Risk

Mortality Assumptions and Longevity Risk

tirsdag, 16 desember 2014
  • This publication presents the results of the OECD project on mortality assumptions and longevity risk. The project looks first at the mortality tables typically used by pension funds and annuity providers to determine the amount of funding needed to meet future expected pension and annuity payments.

 Can the Dutch Meet Their Own Retirement Expenditure Goals?

Can the Dutch Meet Their Own Retirement Expenditure Goals?

tirsdag, 16 desember 2014
  • Population aging and the poor performance of financial markets during recent years put the sustainability of pension arrangements in many Western countries under pressure. In order to investigate whether the Dutch will be able to cope with possible cutbacks in the generosity of pensions, we analyze their preparedness for retirement in 2008, at the eve of the prolonged downturn.

Policy Variation, Labor Supply Elasticities, and a Structural Model of Retirement

Policy Variation, Labor Supply Elasticities, and a Structural Model of Retirement

mandag, 15 desember 2014
  • This paper exploits a combination of policy variation from multiple pension reforms in Austria and administrative data from the Austrian Social Security Database.

Early Retirement Across Europe

Early Retirement Across Europe

mandag, 15 desember 2014
  • In many European countries, the labor market participation of older workers is considerably lower than the labor market participation of prime-age workers. This study analyzes the variation in labor market withdrawal of older workers across 13 European countries over the period 1995-2008.