Even before the pandemic, retirement systems were in trouble; fixing them will take a multifaceted effort, including changes to accumulation and payout, a shift in policymakers’ approach, and greater financial literacy among savers, Prof. Olivia S. Mitchell explains to Knowledge@Wharton.…Read More
The COVID-19 pandemic has exposed and worsened retirement system problems. Now it’s time to reform and strengthen those systems, says Wharton Prof. Olivia S. Mitchell at the RetireSecure blog, discussing her recent paper.…Read More
Low savings, low returns, Social Security and Medicare shortfalls: Wharton Prof. Olivia S. Mitchell discusses the increasingly uncertain post-COVID retirement landscape with Erin Arvedlund of the Philadelphia Inquirer.…Read More
The 28th Colloquium on Pensions and Retirement Research to be held in Sydney, Australia, will be held on 7-8 December 2020.…Read More
Low interest rates and population aging will be with us a long time, so reforms are needed to stabilize and strengthen retirement systems. Options include working longer, deferred annuities, and more financial literacy, says Wharton Prof. Olivia S. Mitchell in her new study, cited by Benefits Canada.…Read More
Multiple employer and hybrid plans, working longer, and more financial literacy among the ways to strengthen retirement systems in a post-COVID world, writes Wharton Prof. Olivia S. Mitchell in her new paper, cited in Chief Investment Officer.…Read More
Some Chilean lawmakers seek to nationalize the country’s pension system, which would set back economic development and erode Chileans’ trust in their economy. Wharton Prof. Olivia S. Mitchell, member of the 2014-15 Bravo Commission for Chilean Pension Reform, expresses concern to Gene Kuleta at The Dialogue.…Read More
Prof. Olivia S. Mitchell served on the 2014-5 Chilean Pension Reform Commission, explains that proposed pension reforms thus far will help but not solve Chile’s old-age system problems. Diario Financiero [paywall]…Read More
When Detroit went bankrupt in 2013, estimates of pension shortfalls multiplied overnight. The city’s regular actuarial firm had reported pension underfunding at $600 million. A special study performed by a second actuarial firm showed underfunding of $3.5 billion.…Read More
Since its launch 35 years ago, Chile’s retirement system has been hailed as “best in class” by pension experts near and far. The country’s fabled individual and privately-managed accounts include around 10 million affiliates, hold $160 billion in investments, and pay retirement benefits to over a million retirees. So why did President Michelle Bachelet establish a Pension Reform Commission that just delivered to her 58 specific reforms and three comprehensive proposals to overhaul remodel Chile’s retirement system?…Read More
