Lessons From Pension Reform In The Americas

Author: Stephen J. Kay
Publisher: Oxford University Press
ISBN: 0199226806
Size: 51.90 MB
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Latin America has seen a host of pathbreaking pension reforms, including privatizations that have served as examples for governments throughout the world. Addressing pressing policy issues and highlighting a broad range of country experiences, this book provides an unparalleled account of the lessons from pension reform in North and South America

Pension Reform In Latin America And Its Lessons For International Policymakers

Author: Tapen Sinha
Publisher: Springer Science & Business Media
ISBN: 146154503X
Size: 26.72 MB
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The experience of privatization of social security has been predominantly in the Latin American region. Eight countries have undertaken either full or partial privatization of pensions: Argentina, Bolivia, Chile, Colombia, El Salvador, Mexico, Peru, and Uruguay. What did the policymakers expect? Were expectations realized? Can we learn anything from the collective experience of these countries? Can they be applied to other countries that are aspiring to privatize? How did the World Bank and other international institutions affect these policies? Pension Reform in Latin America and Its Lessons for International Policymakers analyzes in detail these important questions. The book begins with a detailed account of economic conditions in Latin America. It then discusses various models that policymakers rely on. Starting with a purely demographic model, it lays out advanced models of overlapping generations of Samuelson. The book gives extensive details of privatized pensions in each of the eight reforming countries. Two chapters are devoted to analyzing the reform in each country. Finally, detailed lessons are drawn that will help shape the debate for policymakers in other countries.

Pension Design And Structure

Author: Olivia S. Mitchell
Publisher: Oxford University Press
ISBN: 0199273391
Size: 45.89 MB
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Employees are increasingly asked to make sophisticated decisions about their pension and healthcare plans. Yet recent research shows that the decisions 'real' people make are often not those of the careful and well-informed economic agent conventionally portrayed in economic research. Rather, decision-makers tend to operate with flawed information and make some of the most critical financial decisions of their lives lacking a full understanding of the options before them and theimplications of their decisions.Pension Design and Structure explores the assumptions behind commonly-held theories of retirement decision-making, in order to draw out the consequences of frontier research in behavioral finance and economics for those interested in better design and structure of retirement pensions. Using large datasets newly provided by financial service firms and real-world experiments, this volume tests the hypotheses of this research.This is the first book to explore the implications of behavioral finance research for pensions and retirement studies. The authors blend cutting-edge research from several fields including Finance, Economics, Management, Sociology, and Psychology. The book will be of interest to pension plan participants and sponsors, financial service groups responsible for pensions, and retirement system regulators.

Recreating Sustainable Retirement

Author: Olivia S. Mitchell
Publisher: OUP Oxford
ISBN: 0191029971
Size: 51.24 MB
Format: PDF, Mobi
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The financial crisis and the ensuing Great Recession alerted those seeking to protect old-age security, about the extreme risks confronting the financial and political institutions comprising our retirement system. The workforce of today and tomorrow must count on longer lives and deferred retirement, while at the same time it is taking on increased responsibility for managing retirement risk. This volume explores new ways to think about, manage, and finance longevity risk, capital market risk, model risk, and regulatory risk. This volume offers an in-depth analysis of the 'black swans' that threaten private and public pensions around the world. Capital market shocks, surprises to longevity, regulatory/political risk, and errors in modelling, will all have profound consequences for stakeholders ranging from pension plan participants, plan sponsors, policymakers, and those who seek to make retirement more resistant. This book analyzes such challenges to retirement sustainability, and it explores ways to better manage and finance them. Insights provided help build retirement systems capable of withstanding what the future will bring.

Financial Decision Making And Retirement

Author: Olivia S. Mitchell
Publisher: Oxford University Press
ISBN: 0198808038
Size: 56.30 MB
Format: PDF, Mobi
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As the world's population lives longer, it will become increasingly important for plan sponsors, retirement advisors, regulators, and financial firms to focus closely on how older persons fare in the face of rising difficulties with cognition and financial management. This book offers state-of-the-art research and recommendations on how to evaluate when older persons need financial advice, help them make better financial decisions, and to identify policy options for handling these individual and social challenges efficiently and fairly. This latest volume in the Pension Research Council series, draws lessons from theory and practice, and will be of interest to employees and retirees, consumers and researchers, and financial institutions working to design better retirement plan offerings.

Overcoming The Saving Slump

Author: Annamaria Lusardi
Publisher: University of Chicago Press
ISBN: 0226497100
Size: 75.43 MB
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The great majority of working Americans are unprepared to face the difficult task of planning for retirement. In fact, the personal savings rate has been holding steady at zero for several years, down from 8 percent in the mid-1980s. Overcoming the Saving Slump explores the many challenges facing workers in the transition from a traditional defined benefit pension system to one that requires more individual responsibility, analyzing the considerable impediments to saving and evaluating financial literacy programs devised by employers and the government. Mapping the changing landscape of pensions and the rise of defined contribution plans, Annamaria Lusardi and others investigate new methods for stimulating saving and promoting financial education drawing on the experience of the United States as well as countries that have privatized their welfare systems, including Sweden and Chile. This timely volume pinpoints where human resources departments, the financial industry, and government officials have succeeded—or failed—in bridging the way to a new retirement system. As the workforce ages and more pensions disappear each second, Lusardi’s findings will be invaluable for economists and anyone facing retirement.

U S Social Security

Author: Steven Greene Livingston
Publisher: ABC-CLIO
ISBN: 159884119X
Size: 24.82 MB
Format: PDF, Mobi
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Looks at the history and purpose of the social security system in the United States.

The Sage Handbook Of Social Gerontology

Author: Dale Dannefer
Publisher: SAGE
ISBN: 1446248399
Size: 43.88 MB
Format: PDF, Kindle
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"This SAGE Handbook integrates basic research on social dimensions of aging. It presents programmatic applications of research in areas not often seen in Handbooks including imprisonment, technology and aging, urban society aged, and elderly migration. The authors constitute a Who's Who of international gerontology, and the focus on globalization and aging is unique among Handbooks today. This Handbook should be in the library of every social gerontologist." - Vern L. Bengtson, Professor of Gerontology, University of Southern California This volume reflects the emergence of ageing as a global concern, including chapters by international scholars from Asia, Australasia, Europe and North America. It provides a comprehensive overview of key trends and issues in the field, drawing upon the full range of social science disciplines. The Handbook is organized into five parts, each exploring different aspects of research into social aspects of ageing: Disciplinary overviews: summaries of findings from key disciplinary areas within social gerontology. Social relationships and social differences: explores area like social inequality, gender, religion, inter-generational ties, social networks, and friendships. Individual characteristics and change in later life: examines different aspects of individual aging, including self and identity, cognitive processes, and bio-social interactions and their impact on physical and psychological aging. Comparative perspectives and cultural innovations: topics include ageing and development, ageing in a global context, migration, and cross-cultural perspectives on grandparenthood. Policy issues: covering policy concerns such aslong-term care, technology and older people, end of life issues, work and retirement, and the politics of old age. This will be essential reading for all students, researchers and policy-makers concerned with the major issues influencing the lives of older people across the globe.