The Decline Of The Traditional Pension

Author : George A. Mackenzie
Publisher : Unknown
Page : 279 pages
File Size : 54,7 Mb
Release : 2010
Category : Electronic books
ISBN : 0511924739

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The Decline of the Traditional Pension by George A. Mackenzie Pdf

"The traditional (final or average salary) pension that employers have provided their employees has suffered a huge decline in labor force coverage in the United Kingdom and the United States, and less severe declines in Canada and elsewhere. The traditional pension provides a precious measure of retirement security by paying retirees an annuity for life. This study compares developments in the countries just named and in Australia, Denmark, Germany, Japan, Netherlands, Sweden, and Switzerland to explain the forces behind the decline of the traditional pension and to contrast the experience of public sector employer-provided plans, where it remains dominant. Given the great value of the longevity insurance that the traditional plan provides, and the risks its diminished coverage entails, the book proposes a set of measures that either stem the decline or endow defined contribution pensions with some of the attributes of the traditional plan"--

Author : G. A. (Sandy) Mackenzie
Publisher : Cambridge University Press
Page : 128 pages
File Size : 46,5 Mb
Release : 2010-06-21
Category : Business & Economics
ISBN : 9781139488723

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The Decline of the Traditional Pension by G. A. (Sandy) Mackenzie Pdf

The traditional (final or average salary) pension that employers have provided their employees has suffered a huge decline in labor force coverage in the United Kingdom and the United States, and less severe declines in Canada and elsewhere. The traditional pension provides a precious measure of retirement security by paying retirees an annuity for life. This study compares developments in the countries just named and in Australia, Denmark, Germany, Japan, Netherlands, Sweden, and Switzerland to explain the forces behind the decline of the traditional pension and to contrast the experience of public sector employer-provided plans, where it remains dominant. Given the great value of the longevity insurance that the traditional plan provides, and the risks its diminished coverage entails, the book proposes a set of measures that either stem the decline or endow defined contribution pensions with some of the attributes of the traditional plan.

Author : Samuel Pienknagura,Christopher Evans
Publisher : International Monetary Fund
Page : 52 pages
File Size : 49,5 Mb
Release : 2021-09-10
Category : Business & Economics
ISBN : 9781513596112

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Assessing Chile's Pension System: Challenges and Reform Options by Samuel Pienknagura,Christopher Evans Pdf

Chile’s pension system came under close scrutiny in recent years. This paper takes stock of the adequacy of the system and highlights its challenges. Chile’s defined contribution system was quite influential when introduced, and was taken as an example by other countries. However, it is now delivering low replacement rates relative to OECD peers, as its parameters did not adapt over time to changing demographics and global returns, while informality persists in the labor market. In the absence of reforms, the system’s inability to deliver adequate outcomes for a large share of participants will continue to magnify, as demographic trends and low global interest rates will continue to reduce replacement rates. In addition, recent legislation allowing for pension savings withdrawals to counter the effects from the COVID-19 pandemic, is projected to further reduce replacement rates and increase fiscal costs. A substantial improvement in replacement rates is feasible, via a reform that raises contribution rates and the retirement age, coupled with policies that increases workers’ contribution density.

Author : C. Gillion,International Labour Office
Publisher : International Labor Office
Page : 808 pages
File Size : 41,5 Mb
Release : 2000
Category : Old age pensions
ISBN : UOM:39015050247504

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Social Security Pensions by C. Gillion,International Labour Office Pdf

By providing a balanced assessment and factual review of the praticalities and structure behind various pension schemes around the world, this book assists decision-makers in forming effective, viable pension policy.

Author : National Research Council,Division of Behavioral and Social Sciences and Education,Committee on Population,Division on Engineering and Physical Sciences,Board on Mathematical Sciences and Their Applications,Committee on the Long-Run Macroeconomic Effects of the Aging U.S. Population
Publisher : National Academies Press
Page : 230 pages
File Size : 55,7 Mb
Release : 2013-01-10
Category : Social Science
ISBN : 9780309261968

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Aging and the Macroeconomy by National Research Council,Division of Behavioral and Social Sciences and Education,Committee on Population,Division on Engineering and Physical Sciences,Board on Mathematical Sciences and Their Applications,Committee on the Long-Run Macroeconomic Effects of the Aging U.S. Population Pdf

The United States is in the midst of a major demographic shift. In the coming decades, people aged 65 and over will make up an increasingly large percentage of the population: The ratio of people aged 65+ to people aged 20-64 will rise by 80%. This shift is happening for two reasons: people are living longer, and many couples are choosing to have fewer children and to have those children somewhat later in life. The resulting demographic shift will present the nation with economic challenges, both to absorb the costs and to leverage the benefits of an aging population. Aging and the Macroeconomy: Long-Term Implications of an Older Population presents the fundamental factors driving the aging of the U.S. population, as well as its societal implications and likely long-term macroeconomic effects in a global context. The report finds that, while population aging does not pose an insurmountable challenge to the nation, it is imperative that sensible policies are implemented soon to allow companies and households to respond. It offers four practical approaches for preparing resources to support the future consumption of households and for adapting to the new economic landscape.

Author : Mr.David Amaglobeli,Hua Chai,Ms.Era Dabla-Norris,Mr.Kamil Dybczak,Mauricio Soto,Alexander F. Tieman
Publisher : International Monetary Fund
Page : 47 pages
File Size : 50,5 Mb
Release : 2019-01-15
Category : Social Science
ISBN : 9781484388990

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The Future of Saving by Mr.David Amaglobeli,Hua Chai,Ms.Era Dabla-Norris,Mr.Kamil Dybczak,Mauricio Soto,Alexander F. Tieman Pdf

This SDN explores how demographic changes have affected and will affect public and private sector savings, highlighting the interaction between pension systems, labor markets, and demographic variables.

Author : United States. Congress. House. Committee on Ways and Means
Publisher : Unknown
Page : 120 pages
File Size : 50,9 Mb
Release : 2002
Category : Business & Economics
ISBN : PSU:000049649796

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Retirement Security and Defined Contribution Plans by United States. Congress. House. Committee on Ways and Means Pdf

Author : United States. Congress. House. Committee on Ways and Means. Subcommittee on Oversight
Publisher : Unknown
Page : 120 pages
File Size : 41,8 Mb
Release : 2003
Category : Business & Economics
ISBN : PURD:32754077065112

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Retirement Security and Defined Benefit Pension Plans by United States. Congress. House. Committee on Ways and Means. Subcommittee on Oversight Pdf

Author : Charles Sutcliffe
Publisher : Springer
Page : 325 pages
File Size : 44,8 Mb
Release : 2016-11-25
Category : Business & Economics
ISBN : 9781349948635

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Finance and Occupational Pensions by Charles Sutcliffe Pdf

Occupational pensions are major participants in global financial markets with assets of well over $30 trillion, representing more than 40% of the assets of institutional investors. Some occupational pension funds control assets of over $400 billion, and the largest 300 occupational pension funds each have average assets of over $50 billion. The assets of UK pension funds are equivalent to UK GDP, and US pension fund assets are 83% of US GDP. These statistics highlight the importance of pension funds as major players in financial markets, and the need to understand the behaviour of these large institutional investors. Occupational pensions also play an important, but neglected, role in corporate finance. For example, US company pension schemes account for over 60% of company market value, and yet they are often ignored when analysing companies. This book is based on the substantial body of evidence available from around the world on a topic that has become increasingly important and controversial in recent years. Written for practitioners, students and academics, this book brings together and systematizes a very large international literature from financial economists, actuaries, practitioners, professional organizations, official documents and reports. The underlying focus is the application of the principles of financial economics to occupational pensions, including the work of Nobel laureates such as Merton, Markowitz, Modigliani, Miller and Sharpe, as well as Black. This book will give readers an up-to-date understanding of occupational pensions, the economic issues they face, and some suggestions of how these issues can be tackled. The first section explains the operation of defined benefit and defined contribution pensions, along with some descriptive statistics. The second section covers selected aspects of occupational pensions. The focus of these first two sections is on the economic and financial aspects of pensions, accompanied by some basic information on how they operate. This is followed by three further sections that analyse the investment of pension funds, the corporate finance implications of firms providing pensions for their employees, and annuities.

Author : Craig Berry
Publisher : Oxford University Press, USA
Page : 338 pages
File Size : 48,5 Mb
Release : 2021-01-12
Category : Business & Economics
ISBN : 9780198782834

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Pensions Imperilled by Craig Berry Pdf

Private pensions provision in the UK is in crisis. Through a political economy perspective, this book explores how financial security in retirement has been endangered through the response of policy-makers to wider social and economic change, making a unique contribution to our understanding of financialization, neoliberalism, and the welfare state

Author : Sinéad Agnew,Paul S Davies,C Mitchell
Publisher : Bloomsbury Publishing
Page : 408 pages
File Size : 44,6 Mb
Release : 2020-08-20
Category : Law
ISBN : 9781509922710

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Pensions by Sinéad Agnew,Paul S Davies,C Mitchell Pdf

State pensions are the largest item in the UK social security budget, costing £96.7 billion in 2017/18. In the same year, 45.6 million people were members of UK occupational pension schemes (out of a total population of 66.4 million) and the total amount saved into workplace schemes in 2018 was £90.4 billion. A consequence of the pensions sector's large size has been that pensions law and social security law have become increasingly specialised areas of practice. Yet despite their social and economic importance and the fascinating legal issues they generate, pensions have not been the subject of sustained academic attention. This book starts to fill this gap by initiating a dialogue between practitioners and scholars working on pensions law and policy, groups who have much to learn from one another.

Author : Dora L. Costa
Publisher : University of Chicago Press
Page : 260 pages
File Size : 49,6 Mb
Release : 1998-06-22
Category : Business & Economics
ISBN : 0226116085

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The Evolution of Retirement by Dora L. Costa Pdf

The Evolution of Retirement is the first comprehensive economic history of retirement in America. With life expectancies steadily increasing, the retirement rate of men over age 64 has risen drastically. Dora L. Costa looks at factors underlying this increase and shows the dramatic implications of her findings for both the general public and the U.S. government. Costa argues that the rise of retirement is the result of a culmination of historical trends initiated more than a century ago, not the consequence of abrupt social or institutional change. She attributes much of the long-term increase in retirement rates to steadily rising income, but argues that increased income is not the sole explanation. Over the course of this century, men's retirement decision has become less sensitive to increases or decreases in income, perhaps because retirement has become a time of discovery and personal fulfillment, rather than a time of withdrawal from activities and dependence on family. Using statistical and demographic concepts, Costa explains trends in retirement data. Her examination sheds light on such important topics as rising incomes and retirement, work and disease, the job prospects of older workers, living arrangements of the elderly, the development of a retirement lifestyle, and pensions, and politics. She concludes with a look into the future and further evolution of retirement, addressing perhaps the most vexing problem of retirement policy, the impact of the aging Baby Boom generation on the Social Security System.

Author : United States. Congress. Senate. Committee on Governmental Affairs
Publisher : Unknown
Page : 288 pages
File Size : 50,6 Mb
Release : 2002
Category : 401(k) plans
ISBN : UCAL:B5141690

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Retirement Insecurity by United States. Congress. Senate. Committee on Governmental Affairs Pdf

Author : Timothy Noonan,Matt Smith
Publisher : John Wiley & Sons
Page : 320 pages
File Size : 45,9 Mb
Release : 2011-10-25
Category : Business & Economics
ISBN : 9781118167519

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Someday Rich by Timothy Noonan,Matt Smith Pdf

To truly be successful, today’s financial advisor must strike the right balance between effectively engaging with his or her clients and finding meaningful ways to maintain their financial security. By framing your mission in this way, you can help your clients clarify their vision, build a plan to achieve it, and manage that plan so they stay on track. Nobody understands this better than authors Timothy Noonan and Matt Smith—two seasoned financial professionals with over five decades of combined experience working in the asset management business. And now, in Someday Rich, they show financial advisors with clients who are rich, or have the opportunity to become rich, how to sustain a client’s desired lifestyle to, and through, retirement. Engaging and informative, Someday Rich provides the context, description, and implementation suggestions for the Personal Asset Liability Model—a process that will allow you to determine a client’s funded status relative to their future spending needs as well as develop and monitor their investment plan accordingly. While the methods in the Personal Asset Liability Model may not have been practically accessible to past advisors with a large number of clients, this model now brings together the technical methods to answer important client questions in a way that is feasible and includes the communication strategies that can make the delivery of the advice model more effective. Along the way, this reliable resource discusses the business of giving good advice and addresses how to incorporate these steps into a client engagement road map. Insights on various other issues associated with this discipline are also included, such as how to develop client trust and deliver personalized service when you have so many clients, and contingency risks—life, health, disability, and long-term care—that need to be considered in the financial planning process. And in later chapters, single-topic essays, contributed by experts in the financial planning field, cover issues ranging from target date funds and the investment aspects of longevity risk to modern portfolio decumulation. Building more valuable relationships with your clients is a difficult endeavor. But with Someday Rich, you’ll discover what it takes to achieve this goal as you put them on a path to a sustainable financial future.

Author : George A. (Sandy) Mackenzie
Publisher : CFA Institute Research Foundation
Page : 68 pages
File Size : 44,8 Mb
Release : 2020-07-03
Category : Business & Economics
ISBN : 9781952927010

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Is There a Retirement Crisis? An Exploration of the Current Debate by George A. (Sandy) Mackenzie Pdf

Many quantitative empirical studies of retirement preparedness find that a substantial number of US households face a potential financial crisis at some point in the future. This monograph provides a critical survey of the most important and best-known of these studies, and it also examines the prospects for other countries. Studies of retirement preparedness vary in complexity and sophistication, and as a result, researchers offer a wide range of forecasts, with some warning of a severe crisis and others being more skeptical about the likely scale of the problem. This monograph appraises the quality of surveyed studies by determining how well each deals with key conceptual issues and how adequately each addresses principal risks. Going beyond the circumstances in the United States, the monograph also provides international perspective by comparing the “macro” and institutional aspects of pension and health systems in a group of eight industrialized countries, including the United States.