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The article is dedicated to certain legislative features of special social protection, particularly special pension provisions for military personnel and persons equated to them. The study presents arguments from the scientific community regarding the necessity of maintaining special social protection programs. The authors support this need and emphasise its current relevance. It is noted that special social protection, as a separate state program for military personnel and equivalent individuals, is gaining importance both in the context of the objective need to realise the right to such protection for potential recipients and in the formation of the legal mechanism for ensuring national security of our country. The article analyses the justification for pension provisions for military personnel and individuals equated to them. It emphasises that the legislatively established social measures for military personnel and equivalent individuals are valid both during their service and after they are removed from the lists of a military unit or other armed formations. It argues that the types of special social protection available to military personnel constitute a comprehensive social protection package. The main legislative conditions that must be met to exercise the right to special pension provisions are clarified. The authors identify legal application issues that require resolution through the harmonisation of legislative norms. Based on a summary of the special pension legislation and an examination of certain aspects of special pension programs for military personnel and those equated to them, the article concludes that amendments to subordinate acts accompanying the implementation of the Law of Ukraine "On Pension Provision for Persons Discharged from Military Service and Equated Persons" are necessary. These amendments aim to address discrepancies, particularly regarding the establishment of causal links between the legal fact entitling pension benefits and the fulfilment of military service duties, the calculation of preferential service years, and other related issues. [ABSTRACT FROM AUTHOR]

How regime types affect the provision of social spending in the context of developing countries? This article provides a novel political-economic approach, arguing that single-party regimes are more likely to spend on pensions than other types of autocratic states to co-opt the large number of critical members although the regime type does not affect the general welfare spending across autocratic states. The theory emphasizes the effect of institutional and power structure heterogeneity across autocracies in shaping the incentives and strategies that the ruling elites co-opt and respond to the demands of the ruling coalition across different autocratic regimes. Using panel, ordinary least squares (OLS) regression with lagged dependent variable along with several empirical strategies, it finds the evidence supporting this argument with a new dataset from 1990 to 2012. The study provides new insights on how autocratic institutions especially the party utilize strategic social policies to resolve the elite-level dictator dilemma for regime survival that are absent in other autocratic types. [ABSTRACT FROM AUTHOR]

Modern welfare states compete with private providers of welfare in offering economic security. This is most evident in the case of pensions competing with life insurance and private pensions as well as of public health insurance competing with private insurance providers. The common view of this public–private relationship is one of a trade-off: longitudinally, political scientists describe how retrenchment was pushed by privatized welfare, whereas economists trace the crowding-out of private to public welfare provisions. Cross-sectionally, they claim that countries have lower public spending levels because they have a large private sector. We suggest a more nuanced view. Drawing on a new long-run panel data of public pension and private life insurance expenditures and contributions in 20 OECD countries since Bismarck to the current day, we show that in the postwar years a cross-sectional trade-off emerged, which then faded. Longitudinally, complementary relationships of public and private provision growth have become the norm. We argue theoretically and show empirically that trade-offs only occur if governments still hold (waning) anti-interventionist and pro-market views. [ABSTRACT FROM AUTHOR]

Private pensions have expanded in recent decades in many European countries, albeit to different extent. As private pensions historically have been more unequally distributed than public pensions, it is reasonable to expect that pension privatization has increased the dispersion of incomes among the retired. However, few studies have empirically tested this claim. The purpose of this study is to assess how the expansion of private pensions affects developments of income inequality among the retired. Using microdata from the Luxembourg Income Study, decomposition analyses of income inequality by income source are conducted around 1986 and 2018 in nine European countries. To account for cross-country variations in the public–private pension mix, the study distinguishes between mature multi-pillar systems, emergent multi-pillar systems, and dominant public systems. The results highlight an interesting paradox. Higher shares of private pensions in retirement incomes have a substantial inequality-increasing effect; yet, overall income inequality among the retired has not necessarily increased, for 2 reasons. First, more equally distributed public pensions in emergent multi-pillar systems and declining shares of capital income in mature multi-pillar systems either fully or partially compensated for increased inequality due to larger shares of private pensions. Second, private pensions became more equally distributed among the retired in most countries. [ABSTRACT FROM AUTHOR]

Loneliness in old age is a multifaceted issue influenced by personal, social, and environmental factors, necessitating a holistic approach. However, most research has predominantly focused on individual-level risk factors, with limited attention given to institutional factors such as social policy. This study investigated how social policies impact loneliness among older adults. Multi-level analysis was conducted using data from the 2017 wave of International Social Survey Programme, involving 6,337 older adults from 23 OECD countries. The analysis revealed that higher public spending on welfare and old-age pensions significantly reduces the likelihood of loneliness among older adults. These findings confirm the protective role of generous social policies in addressing old-age loneliness. They underscore the need for long-term changes in welfare systems to enhance the public response to the significant social risk posed by old-age loneliness. [ABSTRACT FROM AUTHOR]

Copyright of Revista de Derecho de la Seguridad Social, Laborum is the property of Ediciones Laborum S.L. and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The risk of poverty among older people varies widely across countries and between men and women. This is usually explained by reference to institutional differences in pension systems or differences in employment histories. However, many other factors also come into play. In this paper we argue that, to avoid biased conclusions, it is necessary to take into account the role of household structure. This study of 14 European Union (EU) countries investigates the impact of household structure on gender differences in old-age poverty risk. The empirical examination is based on European Union Statistics on Income and Living Conditions (EU-SILC). The findings show that older women's high poverty risk is strongly related to the financial vulnerability of single-person households and the higher prevalence of female than male single-person households. In addition, gender differences in poverty risk can be attributed to gender differences in household structure. It matters whether the older person lives with another older person or an employed/unemployed person and whether there are minor children in the household. Country differences in the gender poverty gap are linked to country differences in the household age structure and the poverty risks of different types of households. [ABSTRACT FROM AUTHOR]

Abstract How regime types affect the provision of social spending in the context of developing countries? This article provides a novel political-economic approach, arguing that single-party regimes are more likely to spend on pensions than other types of autocratic states to co-opt the large number of critical members although the regime type does not affect the general welfare spending across autocratic states. The theory emphasizes the effect of institutional and power structure heterogeneity across autocracies in shaping the incentives and strategies that the ruling elites co-opt and respond to the demands of the ruling coalition across different autocratic regimes. Using panel, ordinary least squares (OLS) regression with lagged dependent variable along with several empirical strategies, it finds the evidence supporting this argument with a new dataset from 1990 to 2012. The study provides new insights on how autocratic institutions especially the party utilize strategic social policies to resolve the elite-level dictator dilemma for regime survival that are absent in other autocratic types.

Introduction: : Geriatric population are most vulnerable population, they suffer from various physical illness, mental issues, inancial crisis etc. WHO report showed that the world's population of people aged 60 years and older will be doubled by 2050 (2.1 billion). According to census 2011report, India has 10.1% elderly population and West Bengal has 11.3%. The purpose of the study is to assess the level of awareness on social security& other government schemes, its utilization and to explore the barrier of utilization. Method: An explanatory sequential mixed methods observational study, cross-sectional in design was conductedin Budge-Budge II block of West Bengal among 150elderly population (≥ 60 years) selected by 30 cluster random sampling from March-May 2023 using a pre-designed, pre-tested, structured schedule by face-toface interview. Quantitative data was analysed by SPSS v25.0, and binary logistic regression was performed. Qualitative data was analyzed thematically with IDI guide. Results: Out of 150 elderly, mean age group of the study population was 67.5±4.24 years, 53% were male, and 87% of the study population had awareness on old age pension scheme. However, 83% showed bad utilization. Socioeconomic status [AOR 5.27 (1.98- 13.97)],current employment status [AOR 6.48 (1.12-37.30)] economic dependency [AOR 7.59 (1.71-33.79)] had statistically signiicant higher odds of adequate awareness in the multivariable model. Current employment status, economic dependency showed signiicant association with good utilization and socio demographic characteristics. Conclusion: Majority of the study population were between 65 to 70 years and were aware of old age pension scheme. Old age pension scheme was maximally utilized schemes.

The article studies the subject of improving the non-state pension provision mechanism considering the fintech application implementation into the system. The purpose of the study is to develop an application conceptual model in the framework of pension planning and individual pension strategies formation considering constant monitoring of changes in the legislative, economic, and other spheres to ­create an additional way for citizens to independently form long-term savings for developing the third level of the pension system. Information synthesis and analysis, available literature review, comparison, the results obtained formalization and specification have been carried out. The paper presents problems and analysis of existing programs to motivate long-term savings and proposals in the field of pension savings formation for developing the third level of pension provision. AKPIN fintech-application will allow to develop individual strategies for pension savings formation and will be aimed at a long-term strategy implementation for developing the accumulative component of the pension system in Russia. The proposed application has the ability to analyze the user’s data and, based on it, offer recommendations to increase their savings. If the user decides to spend funds, it can also issue recommendations on request. Due to continuous monitoring of the news background, financial regulators’ actions, financial indicators and changes in legislation, the application can offer up-to-date recommendations and assist users in making effective individual decisions in the area of pension savings management for citizens of the Russian Federation.

This study analyzes the increase in the understanding of the pensioners of the Universitas Islam Bandung Foundation who are registered with the Universitas Islam Bandung Foundation Pension Fund after being given training and assistance on the cost of production. The number of respondents to the research are 48 people. This research used primary data collected through interviews and questionnaires. The research method used is descriptive analysis and inferential analysis called average difference test to see differences in pre-test and post-test scores. Based on the test results with SPSS, the result of independent sample test is <0.05, this indicated that training and assistance on cost of production and sales had a significant effect on increasing understanding of the calculation of cost of production for pensioners of the Universitas Islam Bandung Foundation. [ABSTRACT FROM AUTHOR]

This article examines the current women's retirement age reform in Israel that raised their retirement age from 62 to 65, suggesting that high-income salaried women are more likely to benefit from the reform. It found that raising women's Retirement Age (RA) alone does not improve their Replacement Rate (REP) and recommends implementing a two-stage policy reform. In the first stage, gender wage gaps should be mitigated during working-time period; in the second stage, women's RA should be raised to the average of 63.81 years of the OECD countries. These suggestions should be adopted by policymakers in countries with low REP, such as Britain and Japan, accompanied by ensuring equal employment opportunities for relatively older women approaching RA. [ABSTRACT FROM AUTHOR]

Copyright of Polityka Spoleczna is the property of Institute of Labour & Social / Instytut Pracy i Spraw Socjalnych and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The goal of the study is to evaluate the influence of participants' expected inheritance (assets) on their attitudes toward etatism and pension benefits. The primary question is whether young people with an expected family inheritance exhibit different attitudes in these areas. Additionally, the study examines attitudes across gender, age, and country. One of the most significant challenges of pensions is preserving value over an individual's lifetime, as there is no definitive answer regarding which assets perform best in this regard. Public skepticism toward the pension system and the state is common, complicating matters further. This problem is particularly pronounced among younger individuals who have yet to assume full economic and financial responsibilities. They are often less economically literate and have limited access to financial advice. However, they do receive some foundational prior knowledge from their homes. The rationale for incorporating attitudes towards pensions as a valid variable is that prior knowledge plays a crucial role in judgments on specific issues, such as preserving value in the future or evaluating long-term investments. Even without personal experience, individuals have attitudes that shape their judgments. Overall, more than 700 people participated in the study. After removing outliers, N= 531 valid cases from seven countries: Poland, Romania, the USA, the UK, Canada, and Ireland. A power analysis preceded the testing of the MANOVA model. We found a significant difference in attitudes among participants who grew up in families investing in real estate and tangible assets. Those from families that invested in tangible assets exhibited a stronger concern regarding pension benefits, implying that people with such investments feel less secure about their pensions. Additionally, we found a significant interaction effect between the type of country and expected inheritance. In the Anglosphere countries, people have more positive attitudes toward etatism and pension benefits compared to those in Poland and Romania. This outcome confirms stronger kinship ties in the latter countries and a higher cultural attachment to real estate. [ABSTRACT FROM AUTHOR]

Shifting from Old Pension Scheme (OPS) to National Pension System (NPS) was a major financial reform undertaken by Govt. of India during the last decade and this paradigm shift has significant impact on the retirement benefits of employees as well as on public exchequer. The OPS createdhuge financial challenges on public exchequer and leads to the introduction of the NPS.However the absence of a guaranteed minimum pension under NPS and its link with the market has sparked demand for OPS restoration by the employees of various States and Center. To address these concerns, a Committee is formed by Central Government to review the existing NPS. The pension under NPS is significantly lower than the pension under OPS and largely depends upon the rate of return on Dr. Parmod Kumar parmod.cwa@gmail.com Dr. Parmod Kumar is presently working as Assistant Professor of Commerce in Govt. PG College for Women, Rohtak. The author had previously worked as Jr. Accounts Officer in BSNL and as Sr. Manager (Accounts) in HSIIDC also. He is a Fellow Member of Institute of Cost Accountant of India. He has total experience of 20 years of teaching and administration. NPS Corpus and length of service. Present paper aims to determine the rate of contribution needed under NPS to achieve equilibrium with OPS benefits. Regression analysisreveals a statistically significant relationship between length of service, rate of return and NPS contribution rate. These results will be helpful for the policymakers in drafting a sustainable pension system that helps in compensating employees against potential losses due to NPS implementation. Ultimately this research contributes to the ongoing pension reforms debate in India. [ABSTRACT FROM AUTHOR]

The Old Age Security (OAS) program entitles Canadian seniors to an income consisting of two benefits: the universal OAS pension and its low-income complement, the Guaranteed Income Supplement (GIS) pension. After introducing the development and eligibility requirements of the OAS program, we empirically assess two equity challenges of the OAS pension: first, the OAS pension, which determines eligibility on the basis of individual income thresholds, overlooks total household income, and second, the federally administered pension disregards the regionally divergent costs of living. To address the first equity concern, we point out that households receive different treatment based on the income distribution between partners. Additionally, we emphasize the allocation of OAS pension amounts in the top deciles of equivalized household income. For the second equity concern, we compare the OAS pension amount with the provincial levels of essential household spending and gross domestic product per capita. [ABSTRACT FROM AUTHOR]

Background and Objectives Hypertension is a major modifiable contributor to disease burden in sub-Saharan Africa. We exploited an expansion to age eligibility for men in South Africa's noncontributory public pension to assess the impact of pension eligibility on hypertension in a rural, low-income South African setting. Research Design and Methods Data were from 1 247 men aged ≥60 in the population-representative Health and Aging in Africa: A Longitudinal Study of an INDEPTH Community in South Africa in 2014/2015. We identified cohorts of men from 0 (controls, aged ≥65 at pension expansion) through 5 years of additional pension eligibility based on their birth year. Using the modified Framingham Heart Study hypertension risk prediction model, and the Wand et al. model modified for the South African population, we estimated the difference in the probabilities of hypertension for men who benefitted from the pension expansion relative to the control. We conducted a negative control analysis among older women, who were not eligible for pension expansion, to assess the robustness of our findings. Results Older men with 5 additional years of pension eligibility had a 6.9–8.1 percentage point greater probability of hypertension than expected without the pension expansion eligibility. After accounting for birth cohort effects through a negative control analysis involving older women reduced estimates to a 3.0–5.2 percentage point greater probability of hypertension than expected. We observed a mean 0.2 percentage point increase in the probability of hypertension per additional year of pension eligibility, but this trend was not statistically significant. Discussion and Implications Although the Older Person's Grant is important for improving the financial circumstances of older adults and their families in South Africa, expanded pension eligibility may have a small, negative short-term effect on hypertension among older men in this rural, South African setting. [ABSTRACT FROM AUTHOR]

Background and Objectives Alcohol causes more than 3 million deaths a year globally and contributes to over 5% of global disease and injury. Heavy drinking and alcohol use disorders among older adults have increased in the last 10–15 years. For individuals living in low-income countries, where wages are low and unemployment is high, old age pensions may provide a significant increase in household income. In turn, the receipt of supplementary income may increase spending on alcohol. Earlier life factors and socioeconomic status may affect alcohol consumption, making it difficult to directly assess the impact of income on alcohol consumption. This study reduces the potential for endogeneity with other life factors by exploiting an exogenous increase in income from old age pensions to isolate the impact of extra income on alcohol consumption for older adults. Research Design and Methods We used a regression discontinuity design to assess changes in drinking patterns among rural, low-income adults who were 3 years below and 3 years above South Africa's Old Age Pension Grant eligibility threshold (age 60). We assessed this relationship separately by gender and for employed and unemployed individuals. Results We observed a significantly increased alcohol use associated with the Old Age Pension Grant eligibility for employed men (β = 4.57, 95% confidence interval: 1.72–12.14). We did not observe this same trend for unemployed men or for women. Discussion and Implications The analysis in this study indicates that increased income from reaching the pension eligibility age may contribute to an increase in alcohol consumption for employed men. Interventions, such as informational campaigns on the risks of alcohol consumption for older adults or age-appropriate health interventions to help individuals reduce alcohol consumption, targeted around the time of pension eligibility age for employed men may help to reduce alcohol-related harms in low-income, rural sub-Saharan African settings. [ABSTRACT FROM AUTHOR]

Using the Milligan and Wise (2015) and Cutler, Meara, and Richards-Shubik (2013) methodologies, we examine (i) how much would people today with a given mortality rate or life expectancy work if they were to work as much as those with the same mortality rate worked in the past, and (ii) how much could older adults extend their working lives if their health status improved. The results point to a sizable health capacity to work (HCW) among both older Korean men and women. Furthermore, the results imply that HCW is concentrated among more educated urban senior residents with access to the statutory pension system. We explain our results in the context of the Republic of Korea’s labor markets and old-age support systems. The results for the Republic of Korea imply that the previous results for other high-income economies, such as European countries and the United States, may not be applicable to high-income economies with underdeveloped pension systems.

This study aimed to estimate the work capacity of older Indonesians based on their health condition and other characteristics. Two analytic methods were used in this analysis—the Milligan–Wise method and the Cutler–Meara–Richards-Shubik method—and they found relatively small and substantial additional work capacities, respectively. The results showed that mortality alone may not be able to explain the additional work capacity due to only small improvements in the health conditions of older people. The effect of poverty, the dominance of the informal sector, low educational attainment and skills, and inadequate government social protection and assistance were also responsible for the continued employment of older people until serious health conditions halted their economic activities. Thus, several features were highlighted in this study: (i) the feasibility of extending the pensionable age, (ii) flexible terms for a pension scheme for informal workers, (iii) improved health conditions by expanding the noncontributory health insurance, and (iv) upgraded skills for older workers.

Abstract Background Unhealthy behavior is an important factor threatening the health of older rural residents in China. We examine the effects of receiving pension on elderly rural residents’ health behavior (namely conscious control of sugar, salt, and edible oil intake, as well as learning health or wellness knowledge), also including effect heterogeneity by income level and gender. Methods Using China Rural Revitalization Survey (CRRS) in 2020, we used the policy rule of the China’s New Rural Pension Scheme that only those people who are over 60 years old can have access to pension as the natural experiment, and explore the causal effect of receiving pensions on the health behaviors by using regression discontinuity design method. Results Having access to pension can improve the health behavior of rural elderly residents, including increasing the probability of rural residents’ conscious control of sugar (p

The current scientific article presents the results of assessing the living standard of elderly people, their well-being, livelihoods in conditions of economic instability and changing social space. Global and all-Russian official statistics indicate an increase in the ageing process of the population. Besides, there is a steady growth in the share of pensioners in its structure. In recent years, in the Russian Federation in general and in the Republic of Bashkortostan in particular, there has been a real trend of ageing population, longer life expectancy (73 years), and a greater number of senior citizens in total (28.5 %). Old age is associated with a period of loss and separation from the usual way of life. The assessment found the key problems of this category: deterioration of health, narrowing of the social world, loneliness, low living standard, and financial difficulties. It is identified that the Russian pensioners belong to the main group of the poor, especially the lonely ones. Their poverty is determined by a decline in living standards and material security, rising inflation, and the high cost of medical care along with utilities. It was revealed that for an elderly person, the main income source is a pension, and in-kind income from personal subsidiary farms is an additional one. Despite the generally low level of pensions, a significant part of non-working pensioners provides financial support to their family members at the cost of personal well-being. Therefore, family values dominate in the minds of older people, and many of their needs are realised in the household.

The relevance of the conducted research is due to the modern demographic changes of the last decades, as well as migration processes and challenges caused by the state of war in Ukraine. Demographic processes directly affect such important socio-economic indicators as the number of employees, the unemployment rate, the number of pensioners and persons in need of state social assistance, the amount of taxes and fees paid to the state budget, and, accordingly, the monetary amount of social assistance and pensions to citizens who they need it. The purpose of the article is a Civil Law analysis of the sphere of life insurance and pension system due to the impact of the demographic crisis and migration associated with the state of war in Ukraine. Within the framework of the article, the demographic situation in Ukraine over the past three decades is analyzed, the negative trends of the decrease in the number of the population of the state as a whole, and the number of persons of working age in particular, are pointed out; social, economic, everyday reasons affecting the state of demography, as well as the influence of mortality rates among the working population on the problem under consideration are given. The negative influence of the state of war on the number of citizens of the state and the associated migration processes is substantiated. The author has studied in detail the state and problems of the current system of state pension system and given arguments for the introduction of non-state pension system through the life insurance. Based on the norms of the current legislation, the advantages of the voluntary savings system as an element of non-state pension system with the help of a long-term life insurance and pension contract are clarified. Within the scope of the article, considerable attention is paid to forecasts of the future development of post-war Ukraine and prospects for reforming the sphere of life insurance and pension system. It was concluded that it is necessary to borrow positive world experience in the field of life insurance and pension system as a reliable tool for securing one's future and a type of social protection, which is the driving force for the formation of the latest insurance culture in Ukrainian society. [ABSTRACT FROM AUTHOR]

AbstractThis paper constructs a simple simulation model to assess the financial sustainability of the Macao Social Security Fund (FSS). This model takes into consideration the future demographic structure of Macao and some key parameter settings of the FSS to project the balanced contribution necessary to close the financing gap. The simulation results show that the projected contribution (or balanced contribution) is affected substantially by different funding scenarios and pension benefits plan of Macao FSS, and different economic growth hypotheses of Macao. In most occasions, the balanced contribution in the next two decades is far more than the current status quo, suggesting that the financial sustainability of Macao FSS is questionable. Several measures are proposed for Macao SAR government to close the financial gap and maintain the sustainable development of the Macao FSS. [ABSTRACT FROM AUTHOR]

The legislator assumed that an application should be submitted for retirement and disability benefits from the general insurance system. When determining the form and content of the application, the legislator did not directly specify its legal nature, which is important for both the applicant and the pension authority. The specific nature of the benefit application implies legal consequences in terms of legal, factual and technical actions undertaken by the pension authority after submitting the benefit application. By analyzing the existing legal norms of a procedural nature, it is possible to determine these effects and, through their prism, determine the nature of an application for a pension benefit as an important element of a legal transaction. [ABSTRACT FROM AUTHOR]

Copyright of Çalışma ve Toplum is the property of Calisma ve Toplum and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The time bank is considered to be an important operational mechanism for implementing low⁃cost strategy for the ageing population in China. Taking Guangdong Province as an example, this article conducted in⁃ depth interviews on time banking among older adults in Shenzhen, Guangzhou, Dongguan, Foshan and Huizhou in Guangdong with the purpose sampling method. A total of 50 people were interviewed, and the interview text data were coded and analyzed with the grounded theory. Sixty valid concepts were obtained, from 50 interviews. From these concepts, 15 categories are synthesized, and five core categories are abstracted to construct a model of the influence mechanism of older adults’participation willingness in time banking. It was found that the factors affecting the participation willingness of older adults mainly include time banking cognition, personal needs, emotional value, subjective norms, and participation mechanism. Moreover, a cognitive-attitude-demand- participation forms a closed loop, constituting time bank participation mechanism model. [ABSTRACT FROM AUTHOR]

We propose a novel approach to retirement risk and its measurement. We define retirement risk as a shortfall of financial resources to meet the needs of a retiree's household, which is different from the inability to maintain a standard of living in retirement. Taking a subjective approach to risk, we operationalise it using the Leyden approach to estimate the minimum satisfactory income for a retiree household and compare it to the pension value. Using a logistic regression model, we estimate the effect of pension value and household and reference person characteristics. The retirement risk level strongly depends on the pension value, household composition, and the reference person's education attainment level, which also moderates the impact of the pension. This paper contributes to the literature by proposing a subjective retirement risk measurement method and offering a methodological tool that can be used with similar data from other countries. [ABSTRACT FROM AUTHOR]

Copyright of Commerce & Management Quarterly is the property of Chinese Association of Business & Management Technology and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This study aims to examine antecedents of the pension schemes in Indian context. The relationship between the factors underlying the perception of subscribers towards the pension plan: financial knowledge, investment strategy, and satisfaction of investors (employees) is examined. Further, the effect of financial security, future financial goals, risk appetite, and secured returns on the investment strategy and satisfaction are explored. After checking the measurement properties of the structured survey instrument using the structural equation modeling with Lisrel package, data collected from 480 employees working in various administrative units of a State in the northern part of India, were analyzed. The Hayes's PROCESS was used in analyzing the moderated moderated-mediation complex model and the results reveal that (i) financial knowledge is positively related to (a) investment strategy, and (b) investor satisfaction. The investment strategy mediated the relationship between financial knowledge and employee satisfaction. Further, the results indicate that future financial goals (first moderator) and financial security (second moderator) moderated the relationship between financial knowledge and investor satisfaction mediated through investment strategy. The results also documented that risk appetite moderated the relationship between investment strategy and investor satisfaction; and secured returns moderated the relationship between financial knowledge and employee satisfaction. The novelty of this study stems from the three-way interaction between the financial knowledge, future financial goals, and financial security in influencing the financial strategy. The implications for research and practice are discussed. [ABSTRACT FROM AUTHOR]

We use an overlapping generations model to study the challenge in developing countries with a large informal sector and aging population. We use Thailand as a case study and incorporate its labor market structure and its public pension system into the calibrated model. Unlike developed countries, workers in developing countries commonly transit from the formal sector to the informal sector, which can be in the early stage of their working life. This labor market feature crucially limits the coverage of the contributory social security (SS) system. We find that 66% of Thai elderly (aged 60 or over) are ineligible for SS annuity benefits because of an insufficient number of years paying into the SS fund. In addition, we use our model to evaluate two schemes to raise the existing universal basic pension income to the poverty line, namely, uniform benefits and pension‐tested benefits. We find that pension‐testing effectively improves the targeting efficiency, and nontrivially lowers the cost of the basic pension income program. [ABSTRACT FROM AUTHOR]

Informal care is often accompanied by a reduction or abandonment of professional activity by the caregiver. Therefore, caregiving may be associated with a lower pension for the former caregiver than for people without care obligations. There is a large gender difference in informal care responsibilities, and this may contribute to the gender pension gap. As the impact of care-related labour market decisions depends on the design of the pension system, we carry out a cross-country comparison, in which we analyse the impact of care obligations in countries with high (Luxembourg), middle (Liechtenstein, Belgium, Portugal) and low (Slovenia) gender pension gaps. Using typical-case simulation models, we examine how the impact of care-related events is mediated by pension rules, given women's labour market decisions. To what extent does working part time or interrupting one's career at the age of 30 or 54 reduce the later pension benefit? How are these losses mitigated by pension credits that are conditional on caregiving? We find that the mitigating effects are generally strongest in Belgium, followed by Luxembourg and Slovenia. Such credits hardly exist in Portugal, while in Liechtenstein they have only a small impact. However, the consequences of either working part time or interrupting work can also be mitigated via general rules in the system that are unrelated to caregiving (such as in Portugal and Liechtenstein). They can, on the other hand, be aggravated by the existence of higher accrual rates for individuals who extend their careers, as in Luxembourg and Slovenia. [ABSTRACT FROM AUTHOR]

The aim of the article is to analyze the current state of functioning of non-State pension funds, define their main problems and prospects for development. According to the legislation, Ukraine has a three-tier pension system, the third level of which is the system of non-State pension provision, the basis of which is constituted by non-State pension funds. A non-State pension fund is an institution or organization that collects and invests pension contributions and maintains individual pension accounts for participants in the pension system. Non-State pension funds manage investments, using the accumulated money reserved for retirement to ensure the growth and preservation of participants’ retirement savings. The main goal of their investment activities is to generate sufficient income for future pension payments. The non-State pension funds play an important role in mobilizing financial resources and forming the investment potential of the pension system. The main indicators of activity of non-State pension funds are analyzed, namely: the number of concluded pension contracts, the total number of NSPF participants, the total value of NSPF assets, pension contributions, pension payments, and the amount of investment income. The problems that impede the effective functioning of non-State pension funds are classified as: economic, demographic, legal, investment, and psychological. The most important problem hindering the development of the system of non-State pension provision, including the functioning of non-State pension funds, is the non-perception of it as an alternative to the State-based system. The effective operation of non-State pension funds in the country depends on many factors, including the standard of living of the population, as well as the development of financial market infrastructure. Measures to intensify the activities of non-State pension funds in the financial market of Ukraine in the current economic conditions are substantiated. It is noted that the intensification of the activities of non-State pension funds will help reduce the burden on the Pension Fund of Ukraine and the State budget of our country.

Workers often participate in pre-retirement planning activities to gain awareness of the likely changes they may experience when they retire to enable them to prepare accordingly. Although pre-retirement planning is essential for successful retirement and healthy aging, studies on pre-retirement planning activities among older adults in Ghana are limited. This study explored pre-retirement planning actions that were taken by Social Security and National Insurance Trust (SSNIT) pensioners in the Greater Accra Region of Ghana. A sequential explanatory mixed-methods approach was adopted to gather data from 437 pensioners aged 60 years and above through surveys, interviews, and focus group discussions. The results indicate that while in active service, many (309) pensioners were not motivated to plan for retirement due to issues, such as low income, and distrust of financial institutions. When planning did take place, the pensioners favored financial planning over social, mental, and physical planning. The respondents also revealed that they did not prepare adequately for retirement due to low salaries, as well as low knowledge on pre-retirement planning. Policies are needed to encourage pre-retirement planning among workers in Ghana to enable them to have an appreciable quality of life in old age. [ABSTRACT FROM AUTHOR]

This paper studies the impact of public programmes aiming to cover the entire population in China on elderly poverty in both rural and urban China. Using the three rounds of panel data based on the China Health and Retirement Longitudinal Study in 2011–2015, we examine whether public pension programmes reduced elderly poverty, comprehensively defined to cover both unidimensional and multidimensional poverty indices of the households and individuals. To utilise the longitudinal nature of the data, we apply the robust fixed‐effects (FE) model with propensity score matching (PSM) and the FE quantile model with PSM taking into account the unobservable individual characteristics. Our results show that public pension programmes reduced poverty in monetary and non‐monetary terms in rural areas, while the effect on labour market is not significant. The panel quantile regression results suggest that the programmes decreased inequality in both monetary and non‐monetary dimensions. However, poverty‐reducing and inequality‐reducing effects are not observed in urban areas. Our results provide strong evidence to underscore the success of the Chinese public pension programme in reducing poverty and inequality in both rural and urban areas. [ABSTRACT FROM AUTHOR]

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Copyright of Stanovništvo is the property of Demographic Research Center of Institute of Social Sciences and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This paper investigates the pension effect on poverty reduction in rural China, considering the influences of potential substitution income, including earned and transfer income from older adults and children, respectively. The study created a counterfactual group to impute potential substitution income from the income distribution perspective. We find that when substitution income is not considered, pension effect on poverty reduction may be overestimated. Comparing the two types of substitution income, earned income is found to have a larger effect than that of transfer income from children, and it is significantly more for the middle- and high-income groups. The substitution relationship between pensions and earned income has increased in China in recent years. • To investigate the pension effects on poverty reduction. • To investigate the pension effects on income distribution. • Develop a method to calculate the imputed substitution income. • Pension effect may be overestimated when not considering substitution income. • The effect of earned income is larger than that of the transfer income in China. [ABSTRACT FROM AUTHOR]

The article examines the function of pension insurance in the social security system of Russian Federation. The purpose of the article is to determine whether the insurance system is capable of performing its social and economic objectives. The research is based on the analysis of the Russian Federation legislation and scientific works of Russian authors on the development and performance problems of the pension insurance system in Russia. The article studies the main legal provisions of compulsory and voluntary pension insurance in the Russian Federation, examines the main aspects of the compulsory and voluntary pension insurance performance, identifies problem areas, analyzes the dynamics of the earnings replacement rate, considers the factors that negatively impact the interest of citizens in voluntary pension insurance. The author comes to the conclusion that the best option for the development of pension insurance is the joint use of voluntary and compulsory forms of pension insurance.

Aim. Taking into account the above, the purpose of the study was to analyze the patterns of development of the social policy of the Russian Federation, the republics of Belarus, Kazakhstan, Kyrgyzstan and Armenia, to consider their weaknesses and points of growth in order to identify the potential for strengthening integration ties based on the unification of social development tools.Task. To analyze various areas of social life of the EAEU member countries, identify similarities in development trends in order to create a basis for the formation of unified socio-economic transformations. To demonstrate social tools for the development of «transinstitutional interaction» within the boundaries of the Eurasian Economic Union.Methods. The following methods were used i n the article: comparative an alysis — to compare the effectiveness of social policy instruments in the EAEU countries. The novelty lies in the improvement of the integration processes of the Eurasian integration countries with the help of the proposed author’s approach to unify the social policies of the EAEU member countries on the basis of “transinstitutional cooperation”.Results. A comprehensive analysis of social policy instruments (migration, youth, labor, housing, etc.) of all participants in the Eurasian integration was carried out. Recommendations are proposed for improving social tools within the framework of “transinstitutional cooperation” of the EAEU states.Conclusion. The analysis of the instruments of social policy laid down the priorities in the development of the mechanisms of “transinstitutional cooperation” by the members of the EAEU, expressed in the author’s recommendations in this study. The Republics of Kyrgyzstan, Armenia and Kazakhstan should focus on developing a unified strategy for youth and migration policies. The Russian Federation and the Republic of Belarus should focus on population aging, providing older citizens with pension savings, and encouraging the development of family and motherhood institutions. This is disclosed in more detail in separate blocks of the study devoted to specific areas of social development of the EAEU countries.

The primary aim of our research is to present the pension system of Hungary, to explore its specificities, so that the reader can get a comprehensive picture of its characteristics and determining elements. The relevance of the study is justified by the fact that not only in our country, but in all countries of the world, the issue of an adequate and sustainable pension system is considered a very pressing problem. In order to establish the subject, it was essential to undertake an in-depth study of the domestic literature on pension provision, which we have endeavoured to do to the best of our knowledge. In addition to the catalogues of our country's libraries, the various databases and other on-line services available on the Internet were of great help in accessing and processing these data. Our study of the literature has confirmed that the literary background of the pension system and its connections is so wide-ranging and extensive that it would be beyond the scope of this work to present all its aspects. Therefore, we have tried to synthesise the theoretical background knowledge that is essential for the presentation of the pension system of Hungary. Our country’s pension system and its history can be traced back to the 16th century. From then on, it has gone through a very long journey and has been modified several times before the characteristics of today's pension system have been developed. It is clear that the pension system and the changes it has undergone are influenced directly or indirectly by a number of factors, given the complexity of the subject. Our research has focused exclusively on certain aspects of demographic trends. With the help of these, we tried to answer the question of the impact of demographic trends on the Hungarian pension system and the challenges it faces. Our exploratory research has shown that demographic factors cannot be considered in a purely national context, as different but closely related processes are taking place in different areas and counties of the country. It is precisely for this reason that we considered it important to conduct a dynamic statistical analysis of the population in the counties. From the demographic trends identified, it is clear that the low fertility rate, the increase in average life expectancy at birth and the increasing economic emigration have a demonstrable impact on the pension system in our country.

En el presente artículo se realizará una investigación cualitativa con la que se pretende dar a conocer la situación actual de Colombia frente a las declaraciones de ineficacia de traslado de régimen pensional, basándose en la falta de aplicación del deber y derecho de doble asesoría. Esta situación tiene origen con la expedición de la Ley 100 (1993), debido a que con la misma se crearon dos regímenes pensionales que coexisten, pero que son excluyentes entre sí. Con esto no se logró regular oportunamente la figura objeto de estudio, teniendo como resultado la inconformidad de una gran cantidad de colombianos al momento de obtener su derecho pensional. Esto se debe a que la expedición de la ley en mención generó un gran vacío normativo que no fue resuelto en su debido momento, por lo tanto, en la actualidad, se están vulnerando los derechos fundamentales de muchos colombianos.