To what extent does hours flexibility in career employment impact the retirement process? Workplace flexibility policies have the potential to improve both the welfare of employees and the business outcomes of employers. These policies, and hours flexibility in particular for older Americans,...

This paper discusses what is longevity risk, why it is important, approaches used by the West to manage longevity risk, and what lessons can be learnt by Asian countries from the experiences of the West. Increasing and uncertain longevity has emerged as a key risk affecting individuals, pension...

This paper provides a framework for comparing a defined benefit (DB) and a defined contribution (DC) point schemes, which are both pay-as-you go (PAYG) financed. Two stylised PAYG pension schemes are modelled and simulated to compare their robustness to shocks. The same demographic developments...

Rapid population ageing and economic transformation in Asia raise the policy challenge of ensuring income security in old age. There is growing interest among policymakers in the potential role of noncontributory transfers as an instrument to address a variety of policy challenges, including old...

Although elderly men and women share many of the same problems as they age, their lives are likely to follow different courses. Women are more likely than men to live into old old-age and are more likely to spend part of their young old-age caring for husbands or parents. By providing this...

Unsustainability of pension systems particularly in developed economies looms large on the horizon due to increasing life expectancy and continuous drop in fertility. In spite of a broad awareness of the issues, there is no consensus on appropriate remedy and little action. In this paper, I...

The legal, policy and economic issues associated with pension provision, care and dignity in old age are fundamental challenges for the future of our society. Pension provision is in crisis and this paper highlights the policy choices and regulatory challenges that this entails. The analysis...

In the wake of the global pandemic known as COVID-19, retirees, along with those hoping to retire someday, have been shocked into a new awareness of the need for better risk management tools to handle longevity and aging. This paper offers an assessment of the status quo prior to the spread of...

Pension systems combine government and privately-sponsored support to finance a suitable standard of living during retirement. Pension systems can be financed through pay-as-you-go (PAYG) or through pre-funding. PAYG pension schemes finance old- age retirement benefits in one particular period...

Pension schemes have a significant influence on the saving and consumption decisions of households. Similarly, contributions to pension arrangements are substantial expenditures for national governments and also for corporations, depending on the prevailing pension system. Beyond this, pension...