Workers' Capital Mees, Bernard; Brigden, Cathy
2017, 20200716, 2020-07-16
eBook
Superannuation was once a privilege granted only to company head office staff and career public servants. Now in Australia nearly all workers have access to employer-contributed superannuation, and ...it is a fundamental pillar of Australia's retirement income system.
Workers' Capital tells the story of the Australian superannuation revolution led by trade unions in the 1980s. After a series of hard-fought industrial campaigns, an enormous financial industry was created, involving hundreds of thousands of employers and covering millions of fund members. From having one of the worst retirement savings systems in the developed world, in three decades Australia had one of the best. Now the funds held in Australian superannuation accounts exceed the entire market capitalisation of all the companies on the Australian Stock Exchange.
Drawing on interviews with the key players and extensive archival research, Workers' Capital is the first systematic history of the unique Australian system of industry superannuation.
The ongoing privatization of pensions - the shift from state to private responsibility for old age retirement income - raises fundamental issues of social and participatory rights. The recent ...financial market crisis makes the problematic nature of funded private pensions that fall short of expected returns dramatically clear. What have been the experiences in developed multipillar systems? What can be learned for those pensions systems currently under reform? This edited book compares the varieties of pension governance in ten European countries. Contrasting the experience of developed multipillar systems such as Britain, Denmark, the Netherlands, and Switzerland with the recent shift toward private occupational and personal pensions in Belgium, France, Finland, Germany, Italy, and Sweden. The country chapters investigate how and why old age income responsibilities are being shifted to employers, unions, and individuals. They describe the changing public and private pension mix, and describe the particular features of the private occupational and personal pensions. In particular this book discusses four major questions: who is covered, what kind of benefits, who pays, and who governs? Three comparative analyses provide an additional value, describing the long-term institutional change from public to multipillar pension systems, the variations in regulation and governance of private pensions, and the consequences for income inequality in old age. This book combines the benefits of a reference work - ten up-to-date country studies of major pension systems in Europe - with three cross-national comparative empirical analyses that provide comprehensive information on important aspects of the reform development, societal governance, and social outcomes of pension systems. Available in OSO: http://www.oxfordscholarship.com/oso/public/content/politicalscience/9780199586028/toc.html Contributors to this volume - Karen Anderson, Associate Professor at the Department of Political Science, Institute for Management Research, Radboud University of Nijmegen, the Netherlands. Giuliano Bonoli, Professor at Institut de hautes etudes en administration publique (IDHEAP) in Lausanne, Switzerland. Paul Bridgen, Senior Lecturer at the School of Social Sciences, University of Southampton, United Kingdom. Johan De Deken, Lecturer at Department of Sociology and Anthropology, University of Amsterdam , the Netherlands. Bernhard Ebbinghaus, Professor of Sociology at the School of Social Sciences, and Director of the Mannheim Centre for European Social Research (MZES), University of Mannheim, Germany. Jorgen Goul Andersen, Professor at the Department of Political Science, University of Aarhus, Denmark. Mareike Gronwald, Researcher at the Mannheim Centre for European Social Research (MZES), University of Mannheim, Germany. Silja Hausermann, Researcher and Lecturer (Oberassistentin) at the Department of Political Science, University of Zurich, Switzerland. Matteo Jessoula, Assistant Professor at the Department of Social and Political Studies, University of Milan, Italy. Olli Kangas, Professor and Head of the Research Department of the Social Insurance Institution (KELA) in Helsinki, Finland. Gabriella Sjogren Lindquist, Assistant Professor of Economics at the University of Stockholm and Deputy Director of the Swedish Institute for Social Research (SOFI) ) in Stockholm, Sweden. Paivi Luna, Research and Development Manager at the Federation of Finnish Financial Services in Helsinki, Finland. Traute Meyer, Reader at the School of Social Sciences, University of Southampton, United Kingdom. Marek Naczyk, DPhil candidate at the Department of Politics and International Relations, University of Oxford, United Kingdom. Jorg Neugschwender, Researcher at the Mannheim Centre for European Social Research (MZES) and PhD candidate at the Graduate School of Economic and Social Sciences (GESS), University of Mannheim, Germany. Bruno Palier, Senior Researcher at the Centre for Political Research (CEVIPOF), Sciences Po, Paris, France. Eskil Wadensjo, Professor of Economics at the Swedish Institute for Social Research (SOFI) in Stockholm, Sweden. Tobias Wiss, Researcher at the Mannheim Centre for European Social Research (MZES), University of Mannheim, Germany.
This systematic review and meta-analysis examined the dose-response relationship between exercise and cognitive function in older adults with and without cognitive impairments. We included ...single-modality randomized controlled aerobic, anaerobic, multicomponent or psychomotor exercise trials that quantified training frequency, session and program duration and specified intensity quantitatively or qualitatively. We defined total exercise duration in minutes as the product of program duration, session duration, and frequency. For each study, we grouped test-specific Hedges' d (n = 163) and Cohen's d (n = 23) effect sizes in the domains Global cognition, Executive function and Memory. We used multilevel mixed-effects models to investigate dose-related predictors of exercise effects. In healthy older adults (n = 23 studies), there was a small positive effect of exercise on executive function (d = 0.27) and memory (d = 0.24), but dose-parameters did not predict the magnitude of effect sizes. In older adults with cognitive impairments (n = 13 studies), exercise had a moderate positive effect on global cognition (d = 0.37). For older adults with cognitive impairments, we found evidence for exercise programs with a short session duration and high frequency to predict higher effect sizes (d = 0.43-0.50). In healthy older adults, dose-parameters did not predict the magnitude of exercise effects on cognition. For older adults with cognitive impairments, exercise programs with shorter session duration and higher frequency may generate the best cognitive results. Studies are needed in which different exercise doses are directly compared among randomized subjects or conditions.
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DOBA, IZUM, KILJ, NUK, PILJ, PNG, SAZU, SIK, UILJ, UKNU, UL, UM, UPUK
Pension Reform in Europe Holzmann, Robert; Orenstein, Mitchell A; Rutkowski, Michal ...
2003, 05-23-2003, 20030101
eBook, Book
Odprti dostop
Few topics on the economic reform agenda attract more attention in countries throughout Western, Central, and Eastern Europe than pension reform. And there is hardly any other area in the European ...policy debate where reform progress has been more uneven between countries. The difference between need and outcome does not appear to reflect underlying reform pressures, so what are the causes this unevenness? Pension Reform in Europe represents a major attempt to solve this puzzle, with contributions from leading scholars and practitioners in economics and political sciences. This book shows the current stage of knowledge in the pension area, and indicates areas needing further research. The research should lead to a better understanding of process and progress of European pension reform, for the benefit of the reform agenda in Europe and other regions of the world.
Notwithstanding the terrible price the world has paid in the Coronavirus pandemic, the fact remains that longevity at older ages is likely to continue to rise in the medium and longer term. This ...volume explores how the private and public sectors can collaborate via public-private partnerships (PPPs) to develop new mechanisms to reduce older people’s risk of outliving their assets in later life. As we show in this volume, PPPs typically involve shared government financing alongside private-sector partner expertise, management responsibility, and accountability. In addition to offering empirical evidence on examples where this is working well, our contributors provide case studies, discuss survey results, and examine a variety of different financial and insurance products to better meet the needs of the aging population. The volume will be informative to researchers, plan sponsors, students, and policymakers seeking to enhance retirement plan offerings.
This 2006 book introduces and develops the basic actuarial models and underlying pricing of life-contingent pension annuities and life insurance from a unique financial perspective. The ideas and ...techniques are then applied to the real-world problem of generating sustainable retirement income towards the end of the human life-cycle. The role of lifetime income, longevity insurance, and systematic withdrawal plans are investigated in a parsimonious framework. The underlying technology and terminology of the book are based on continuous-time financial economics by merging analytic laws of mortality with the dynamics of equity markets and interest rates. Nonetheless, the book requires a minimal background in mathematics and emphasizes applications and examples more than proofs and theorems. It can serve as an ideal textbook for an applied course on wealth management and retirement planning in addition to being a reference for quantitatively-inclined financial planners.
•The introduction of public pensions in the UK in 1909 reduced labor supply.•Despite the clear labor supply decline, the reform most likely increased welfare.•The behavioral response suggests that ...future pension reforms need to be profound.
We study the labor supply implications of the Old-Age Pension Act (OPA) of 1908, which, for the first time, provided pensions to older people in the UK. Using recently released census data covering the entire population, we exploit variation at the newly created age-based eligibility threshold. Our results show a considerable and abrupt decline in labor force participation of 6.0 percentage points (13%) when older workers reach the eligibility age of 70. To mitigate the impact of population aging today, pension reforms aimed at increasing elderly labor supply, however, have to induce much larger behavioral responses than the OPA.
Many government programs transfer resources to older people and implicitly or explicitly tax their labor. We shed new light on the labor supply and welfare effects of such programs by investigating ...the Old Age Assistance Program (OAA). Exploiting the large differences in OAA programs across states and Census data on the entire US population in 1940, we find that OAA reduced the labor force participation rate among men aged 65–74 by 8.5 percentage points, more than one-half of its 1930–1940 decline, but that OAA’s implicit taxation of earnings imposed only small welfare costs on recipients.
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