Pension

This tag is associated with 36 posts

People and Households Without a Private Pension in Great Britain: 45% of men and 49% of women

Key points For those below retirement age, 45% of men and 49% of women in Great Britain did not have any private pension savings in 2010-2012. 95% of men and women working in Accommodation and food service industries did not pay into a private pension in the UK in 2012. In ‘Public administration, defence and … Continue reading

Pension economic impacts in US – 6.2 Million Jobs, $943 Billion

A new economic impact study finds that pension benefit expenditures provide important economic support to the economy, including more than $943 billion in total economic output and 6.2 million jobs in the United States. Pensionomics 2014: Measuring the Economic Impact of Defined Benefit Pension Expenditures reports the national economic impacts of public and private pension … Continue reading

US – The retirement crisis it’s not what some people want you to believe it is

America has a retirement crisis, but it’s not what some people want you to believe it is. It’s not the defined benefit pension plans that public employees pay into over a lifetime of work, which provide retirees an average of $23,400 annually (although some public officials fail to make their required contributions to these and … Continue reading

US – Only 19 percent of lower-income individuals individuals aged 50-58 participated in a pension of any kind at their current jobs

In 2010, only 19 percent of individuals ages 50-58 whose household incomes were less than 300 percent of the poverty line participated in a pension of any kind at their current jobs, compared to 56 percent of those above 300 percent of poverty.  This paper investigates this pension gap.  In particular, we decompose the pension … Continue reading

US – What can be done about the rampant underfunding of public pension systems? 

Improving Public Pensions: Balancing Competing Priorities  by Patten Priestley Mahler, Chingos, and Whitehurst makes a significant contribution to the public pension discourse by providing policymakers and stakeholders with a framework for evaluating proposed reforms to pension systems – even in light of the frequently competing objectives of such systems. The authors begin by defining three … Continue reading

Pension in UK / Introduce a ‘collective defined contribution’ plan says a report

Reform is underway to encourage people to work for longer and to save into a pension. However, contributing at the rates required by auto-enrolment across a full working life will give the current generation of employees a less than 50:50 chance of a decent income in retirement. New pension products and strategies are urgently needed … Continue reading

A worldwide retirement crisis is coming

A global retirement crisis is bearing down on workers of all ages Continue reading

Benefits Overview in US / 68 % of workers have access to a pension plan

The National Compensation Survey (NCS) provides comprehensive measures of compensation cost trends, as well as incidence and detailed provisions of employee benefit plans. This bulletin presents estimates of the incidence and key provisions of selected employee benefit plans. Estimates presented are on benefits for civilian workers—workers in private industry and in state and local government—by … Continue reading

From Defined Benefits To Defined Contributions / Firms save 2.7-3.6% of payroll per year research finds

Since the early 1980s, there has been a shift from defined benefit (DB) to defined contribution (DC) pension arrangements in the U.S. corporate sector. This shift has continued markedly over the past decade. In the late 1990s, assets in private sector DB and DC plans were each around $2 trillion. By the end of 2010, … Continue reading

US Social Security / The real retirement age is 70

ue to increases in Social Security’s Delayed Retirement Credit, the effective retirement age is now 70, with monthly benefits reduced for earlier claiming Continue reading

US / The retirement system fails most americans by creating a few big winners and many losers

The current retirement system has left the vast majority of Americans unprepared for retirement says EPI. While high-income Americans have benefitted enormously from the rise of 401(k)s, most Americans are being left behind Continue reading

UK / One in five retiring in 2013 in poverty

Study by Prudential finds many people are facing a bleak financial outlook, with 14% relying solely on state pension One in five people retiring in Britain in 2013 will fall below the income poverty line according to a study by Prudential, which also found that nearly a quarter of women will enter retirement entirely dependent … Continue reading

Europe / Paying for growing numbers of old people

Long after the debt crisis is over, Europe will be grappling with an even more serious problem – how to pay for growing numbers of old people. The population of some countries is stagnant or already shrinking, notably Germany’s. That will reduce savings and potential economic growth. The workers who remain are getting older and … Continue reading

US / Pension / John Bogle on defined benefit programs

Q: In terms of the evolution of America’s retirement health, we’ve moved from defined benefit programs, pensions, to defined contribution. … Describe what’s happening to our retirement health as these [different] instruments are introduced and the rush of people into mutual funds. … … In my new book, which is called The Clash of the … Continue reading

US / Corporate pension funding: the Gap jumped 17 percent to $295.2 billion

The funding shortfall bedeviling the 100 largest U.S. corporate pension funds rose for a second straight year in 2012, as a strong stock market and hefty plan contributions failed to offset damage done by persistently low interest rates, according to an analysis by Towers Watson released on Monday. The gap between what these corporations, all … Continue reading

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