The December 2004 edition of Commentary, under the headline “Missa Solemnis for Pensions” described the decline of defined benefit pension plans and the various factors that had contributed to their demise. Since then, many pension plans have been terminated or closed to new entrants. What remains of the defined benefit pension system is perceived to […]
Better Pensions and Jobs in Latin America
The publication by the Inter-American Development Bank of a timely book Better Pensions and Better Jobs: Towards Universal Coverage represents a significant contribution to the literature on the subjects of pension provision and the economics of the labor market in Latin America and the Caribbean Region. This research study presents a diagnosis of the pension […]
Where is the Public Debate on National Retirement Income Policy?
In the March 2011 edition of Commentary with the title Appeal for a National Retirement Income Policy we called for a Presidential Commission to be established to investigate and report on the current state of provision for retirement income in the United States. We identified the major issues to be examined by the Commission as: […]
The Challenge of Lifetime Income Management
Lifetime income management presents challenges at the individual, institutional and national level. At each of these three levels, the economic challenge is to generate lifetime capital and income and allocate these financial resources efficiently to meet needs at each stage of life. Shakespeare identified seven ages of man in As you like it, progressing from […]