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Realizing the Potential of Living Longer

Autor: Comisión Económica de la Organización de las Naciones Unidas para Europa (UNECE)
Año: 2017
Resumen: Policy responses to population ageing to date have primarily focused on adapting welfare systems to the challenges of demographic change. Much less attention is being paid to the opportunities and potentials that living longer holds for individuals, economies and society at large, and to tackling the barriers that currently hinder their full realization. Perceiving longevity mainly as a fiscal pressure and an obstacle to economic growth may trigger reforms that result in rising inequalities. This can occur when the cumulative disadvantages stemming from difficulties in transitions over the life course, ill health and disability and unpaid caregiving are insufficiently addressed. It also feeds into age-based stereotypes and negative attitudes towards older people. To change this, it is essential to better recognize the potentials of ageing societies and to enable people to live active and fulfilling lives as they age.

Fuente: Organización de las Naciones Unidas (ONU)
Clasificación: Seguridad Social y Sistemas de Pensiones
Tipo de Publicación: Documentos de Trabajo
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What Are the Effects of Expanding a Social Pension Program on Extreme Poverty and Labor Supply?: Evidence from Mexico's Pension Program for the Elderly

Autor: Avila-Parra, Clemente; Escamilla-Guerrero, David
Año: 2017
Resumen: In 2013, Mexico's Social Pension Program for the Elderly was expanded by changing its eligibility threshold from age 70 to age 65. Using pooled cross-sectional data from Mexico's National Household Income and Expenditure Survey, the exogenous variation around eligibility age was exploited to uncover the causal effects of this expansion on extreme poverty and labor supply of the newly eligible population, and to explore potential transmission mechanisms. Applying quasi-experimental methods, results show that the expansion of Mexico's Social Pension Program for the Elderly not only reduced the probability of the elderly being extreme poor, but it also reduced the extreme poverty gap, and the extreme poverty severity indexes of the elderly population. These effects on extreme poverty are generalizable to all individuals of the treated household. The results suggest that the expansion of the Social Pension Program for the Elderly did not have short-term effects on the labor force participation of the elderly. Accordingly, the analysis does not find that the program reduced labor income. In contrast with other impact evaluations of similar programs, the analysis does not find that the expansion of Mexico's program had a crowding out effect on domestic or international private transfers to the elderly.

Fuente: Banco Mundial
Clasificación: Seguridad Social y Sistemas de Pensiones
Tipo de Publicación: Informes
Idioma:

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Pension Funds, Capital Markets, and the Power of Diversification

Autor: Stewart, Fiona; Despalins, Romain; Remizova, Inna
Año: 2017
Resumen: The potential for pension funds to contribute to capital markets and thereby economic growth has been argued on a theoretical basis and demonstrated empirically. However, reforms fostering the development of funded pension systems have not had the economic impact hoped for in some countries. Pension fund portfolios in some cases have remained highly exposed to shorter-term assets, such as bank deposits and shorter-term government bonds. This, in turn, has led to relatively low investment returns, thereby potentially affecting income adequacy in retirement. This paper looks at the potential regulatory hurdles to long-term investment by pension funds, while also proposing international diversification and the creation of domestic investment opportunities to help portfolio diversification and ultimately improve the delivery of secure, adequate pensions.

Fuente: Banco Mundial
Clasificación: Fondos de Inversión
Tipo de Publicación: Informes
Idioma:

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Eldercare Policies in East Asia and Europe

Autor: Organización de las Naciones Unidas (ONE) Mujeres; Peng, Ito; Yeandle, Sue
Año: 2017
Resumen: Adequate and dignified care provision for elderly populations is becoming an urgent policy issue, not only in high-income countries, but also in many middle- and low-income ones. This discussion paper documents and analyses varieties of eldercare policies, and their readjustments, in East Asia and Europe.

Fuente: Organización de las Naciones Unidas (ONU)
Clasificación: Seguridad Social y Sistemas de Pensiones
Tipo de Publicación: Artículo Académico
Idioma:

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Pension Coverage for Parents and Educational Investment in Children: Evidence from Urban China

Autor: Mu, Ren; Du, Yang.
Año: 2017
Resumen: When social security is established to provide pensions to parents, their reliance upon children for future financial support decreases, and their need to save for retirement also falls. In this study, the expansion of pension coverage from the state sector to the non-state sector in urban China is used as a quasi-experiment to analyze the intergenerational impact of social security on education investments in children. In a difference-in-differences framework, a significant increase in the total education expenditure is found to be attributable to pension expansion. The results are unlikely to be driven by other observable trends. They are robust to the inclusion of a large set of control variables and to different specifications, including one based on the instrumental variable method.

Fuente: Banco Mundial
Clasificación: Seguridad Social y Sistemas de Pensiones
Tipo de Publicación: Documentos de Trabajo
Idioma:

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