1,078 research outputs found
Retirement Rigidities and the Gap between Effective and Desired Labour Supply by Older Workers
No full textOur paper analyses the observed and desired labour supply of older workers and (recent) retirees in a country (Italy) with limited opportunities for exible work schedules. For this purpose, we use a unique dataset drawn from the Bank of Italy's Survey on Household Income and Wealth (SHIW) providing information on both desired and actual working hours. Our empirical analysis documents the gap between older individuals' desired and observed labour supply at both the extensive and the intensive margins and traces it back to gender, education and family composition. The paper provides useful insights into the potential effectiveness of policies such as gradual retirement and part-time work in increasing older workers' employment
Retirement Chioces of Older Workers in Italy
No full textPension Systems enters into the current lively debate on European pensions. The focus of the book is the analysis of public intervention in individuals' retirement choice, its rationale and the desirability of legislation introducing a sizeable and compulsory increase in retirement age, to face the prospects of swift population ageing. The book assesses the impact of different retirement rules on individual decisions, on the sustainability of social security systems and on labour market dynamics, and inquires whether mandatory retirement has not become an outdated feature of modern pension systems. The motivations behind public intervention in fixing compulsory retirement rules as well as the likely consequences of allowing the individual a higher responsibility in retirement choices are analysed. These issues are examined both theoretically and empirically and through a focus on country-specific patterns of retirement and on policy issues relevant at the European level. The impact of later retirement on the labour market is also investigated, considering the role of retirement rules in increasing employment. This comprehensive and topical book will appeal to academics and scholars of public finance as well as pensions experts and organisations
Il Ministro del Lavoro e delle Politiche Sociali: Prof. ssa Elsa Fornero incontra l'Isfol
No full textISFOL, Bulgarelli, A., Laganà E., Pitoni I. (a cura di), Il Ministro del Lavoro e delle Politiche Sociali Prof. ssa Elsa Fornero incontra l'Isfol, 19 aprile 2012. Isfoa OA: Presentation. In occasione dell'incontro con il Ministro del Lavoro e delle Politiche Sociali, Prof. ssa Elsa Fornero, è stato presentato un documento che definisce e illustra la mission dell'Istituto, la proiezione internazionale, le competenze, la produzione scientifica. 19/04/2012presentation. in occasione dell'incontro con il ministro del lavoro e delle politiche sociali, prof. ssa elsa fornero, è stato presentato un documento che definisce e illustra la mission dell'istituto, la proiezione internazionale, le competenze, la produzione scientifica. 19/04/2012 il ministro del lavoro e delle politiche sociali: prof. ssa elsa fornero incontra l'isfo
Gender Differences In Retirement Income And Pension Policy: Simulating The Effects of Various DB and DC Schemes
No full textIn this analysis, we evaluate the relative pension positions of men and women, under different characterisations of their respective working lives and pension designs. We consider both aDefined Benefit (DB) and a Defined Contribution (DC) scheme, and a few variants of their basic pension formula, each exemplifying a stylised normative framework. Not surprisingly, the working career is the most relevant factor in determining the relative retirement income of women with respect to men; pension systems can compensate, but only upto a point. As for a comparison between DB and DC systems, taken without explicit redistributive measures, the latter can fare better than the former in providing a more equal distribution of retirement income between men and women, because it removes the greater return to steeper earnings profiles, more characteristic of men. The introduction of a minimum pension provision in the DB system improves the relative position of women with discontinuousor poor careers, while, in DC systems, a formal recognition of women’s care activities through pension credits seems less effective than neutralising their longer life expectancy in the determination of the pension benefits using unisex longevity tables
Information and financial Literacy for socially sustainable NDC pension schemes
No full textThis paper is centered on the complementary roles played by pension communication/information and financial literacy for a sustainable and equitable nonfinancial defined contribution (NDC) system at both the micro and macro socioeconomic level. The paper presents new evidence on: (i) the concern of public opinion about pensions in five European countries (France, Germany, Italy, Sweden, and the United Kingdom), as approximated by Google Trends data; (ii) the relationship between measures of onlinesearch volume and coverage by traditional media (i.e., national newspapers); and (iii) the volume and framing of newspaper coverage for a specific reform (i.e., the 2011 Italian reform). On the demand (users) side, the paper considers pension literacy as an element to increase the effectiveness of reforms
Adequacy of Pension Systems in Europe: An analysis based on comprehensive replacement rates. ENEPRI Research Report No. 68, 28 April 2009
No full textThe aim of this paper is to develop indicators to highlight the ability of different national pension systems to enable individuals to maintain their living standards at retirement. Authors Margherita Borella and Elsa Fornero of the University of Turin and CeRP, perform the analysis using data and projections on different European countries and propose the use of a ‘COmprehensive Replacement’ (CORE) rate. Their aim is to compute, for a set of countries representative of the different European welfare and pension systems, both an actual (data-based) version of CORE, based on ECHP data, and to project its evolution into the future. The paper is organised as follows. Section 1 provides a theoretical framework as well as a review of the literature on the topic. Section 2 contains the computation of replacement rates based on ECHP data. In Section 3 CeRPSAM projections are used to compute COREs over time. Section 4 concludes
Flexibility in Retirement: A framework for the analysis and a survey of European countries
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