2016

The report highlights that, while there is no single definition of value for money in pensions, there is consensus that value for money is about more than simply cost. Although costs and transparency of costs are important, consideration of value for money should also include elements such as administration, communication with members, and governance. Schemes may also look for consistent returns or an investment strategy in line with the level of risk that members are willing to take.

Social Security aims to provide retirees a basic old-age income after a lifetime of work. Monthly benefits were designed to replace a greater share of the earnings of low-wage workers, who spend a greater share of their income on necessities than high-wage workers. Social Security likewise includes spousal and survivor benefits. These “family benefits” were designed for the standard family unit when the program was created in the 1930s – a married couple in which the husband was the breadwinner and the wife a homemaker.

Arbeidsledigheten blant de over 60 år har økt med nesten 30 prosent siden 2014. Veksten i arbeidsledigheten blant unge i samme periode er på under fem prosent. Tallene viser også at seniorene rammes hardere nå enn under tidligere nedgangstider, for eksempel finanskrisen i 2008-2010. Spørsmålet er om dette er et forvarsel om dårligere tider for seniorpolitikken?

In this paper we consider the effects of population aging on a pay-as-you-go financed defined contributions pension scheme. We show that when retirement decisions are endogenous, aging increases the retirement age and the steady state level of capital. The effect on pension payouts is in general ambiguous, except for the solution of full retirement, when this effect is unambiguously negative.

Aldri har yrkesaktiviteten for de over 50 år vært høyere enn nå. Målet i IA-avtalen var å øke forventa yrkesaktivitet ved 50 år med 12 måneder fra 2009 til 2018. Økningen hittil er akkurat stor nok til at målet ligger an til å nås.

For å sikre en helhetlig norsk næringspolitikk for finansnæringen er det viktig at konsekvensene av særnorske reguleringer er tilstrekkelig utredet. På oppdrag for Finans Norge og Finansforbundet har Menon Economics (Menon) utarbeidet to rapporter som utreder et metodisk rammeverk for samfunnsøkonomiske analyser av politikk rettet mot finansmarkedet, og som gjør en samfunnsøkonomisk analyse av gjeldende finansmarkedsregulering i Norge.

Four-and-a-half years of uncertainty concluded for Sweden’s AP state pension buffer funds last December when the political will to reform the system collapsed. The government withdrew its proposed reforms, which could have seen two of the five funds closed, after it failed to agree with opposition parties on the future of the changes. The funds affected — AP1, AP2, AP3, AP4 and AP6 — together manage assets totalling SEK1.2trn (€130bn).

The system of pension provision that Denmark has developed has won accolades for effectiveness. It is held up as an example to other countries with less functional pension structures.

Finans Norge synes det er svært positivt at representanter fra Arbeiderpartiet, Venstre og Senterpartiet ber om at det utredes endringer i fripoliseregelverket for å styrke bærekraften i fripolisesystemet, sier Stefi Kierulf Prytz, direktør for livsforsikring og pensjon i Finans Norge. 

Radical changes have been implemented to pension schemes across the UK public sector from April 2015. This paper simulates how these changes will affect the lifetime pension and how the negotiated pension changes compare across six public sector schemes by level of education. Specifically, we simulate the occupation specific Defined Benefit (DB) pension wealth accumulated for a representative employee over the lifecycle by factoring in the recent changes to pension conditions.

This paper provides a framework for modelling defined benefit (DB) and defined contribution (DC) point schemes, which are both pay-as-you go (PAYG) financed. Most sustainability issues pertain to unfunded schemes. Sustainability is less an issue for funded defined contribution schemes as pensions are financed by the contributions and their returns on accumulated assets. In particular, in funded defined contribution schemes, individuals bear the different risks.