Actuarial Outpost
 
Go Back   Actuarial Outpost > Actuarial Discussion Forum > Pension - Social Security
FlashChat Actuarial Discussion Preliminary Exams CAS/SOA Exams Cyberchat Around the World Suggestions


Fill in a brief DW Simpson Registration Form
to be contacted when new jobs meet your criteria.


Reply
 
Thread Tools Search this Thread Display Modes
  #11  
Old 05-07-2013, 06:49 PM
zeus1233 zeus1233 is offline
Member
 
Join Date: Nov 2003
Posts: 1,393
Default

Quote:
Originally Posted by Loner View Post
That's weird, I thought that since more women relatively were smoking in recent years that the gap was decreasing?
The SS data presented are so old that it is not relevant for this discussion. They largely capture the years in which female mortality improved faster than male mortality (1940's-1970's). That's not relevant to how mortality improvements have occurred over the last 20 years.

My understanding is that the gap in life expectancy from birth between males and females in the USA is declining due to faster male mortality improvement (based on the CDC's estimated life expectancy at birth). What used to be a 7.5 year gap in the 1970's is now closer to five years.

Further you can find updated estimates of life expectancy by sex at age 65 through 2009 in the CDC data. The gap between the sexes has narrowed.
Reply With Quote
  #12  
Old 05-08-2013, 10:04 AM
campbell's Avatar
campbell campbell is offline
Mary Pat Campbell
SOA AAA
 
Join Date: Nov 2003
Location: NY
Studying for duolingo and coursera
Favorite beer: Murphy's Irish Stout
Posts: 82,955
Blog Entries: 6
Default

Ah, timing. Never mind.

I wish we had a good mortality study like this one:

http://www.actuaries.org.uk/research...-investigation
__________________
It's STUMP

LinkedIn Profile
Reply With Quote
  #13  
Old 08-11-2013, 10:10 AM
campbell's Avatar
campbell campbell is offline
Mary Pat Campbell
SOA AAA
 
Join Date: Nov 2003
Location: NY
Studying for duolingo and coursera
Favorite beer: Murphy's Irish Stout
Posts: 82,955
Blog Entries: 6
Default

IRELAND

http://www.independent.ie/irish-news...-29489715.html

Quote:
The Government is being warned to “prepare for war” if it tries to cut the old-age pension.

The coalition is being urged to clarify its position following reports in the Sunday Independent of a planned €10-a-week cut to the old age pension.

Fianna Fail social welfare spokesman Willie O’Dea said such speculation frightened the elderly and would be resisted.

“If Joan Burton is ready to acquiesce with another attack on the most vulnerable, she’d better be prepared for war,” he said.

“I want the Government to make an unequivocal statement that this is not going to happen,” he said.

Senior coalition sources told the Sunday Independent that the Government wants to cut the old-age pension to meet a €3.1bn Budget Day target, senior coalition sources have said.

At present, more than half-a-million pensioners receive payments of up to €230 a week from the State.

It has now emerged that a proposal to means-test the pension has been overtaken by discussions that it be cut instead.

The total cost of the old-age pension, or the state contributory pension, is €5.3bn a year.

__________________
It's STUMP

LinkedIn Profile
Reply With Quote
  #14  
Old 08-28-2013, 08:26 AM
campbell's Avatar
campbell campbell is offline
Mary Pat Campbell
SOA AAA
 
Join Date: Nov 2003
Location: NY
Studying for duolingo and coursera
Favorite beer: Murphy's Irish Stout
Posts: 82,955
Blog Entries: 6
Default

FRANCE

http://online.wsj.com/article/SB1000...185676288.html

Quote:
PARIS—France's government said Tuesday that it would plug a widening shortfall in the country's generous but underfinanced pension system mainly by increasing payroll taxes, reigniting a row over France's high labor costs.

The Socialist government of President François Hollande said worker and employer contributions to the national pension system would rise by a total of 0.6 percentage points over the next three years.

"The French are attached to their pension system," Prime Minister Jean-Marc Ayrault said in a televised speech after two days of talks with union and employer representatives. "We have to preserve this heritage."

Mr. Ayrault said workers would also have to contribute to the pension system for a longer period before they can collect a full pension without incurring penalties. Still, he said the increase in the contribution period would be spread over time, through 2035.
.....
Opposition leaders lashed out at Mr. Hollande, saying the increase in payroll taxes would hurt the French economy.

"This is a tax increase that will penalize the purchasing power of workers and the competitiveness of companies at a time when unemployment keeps rising," Jean-François Copé, head of the center-right Union pour un Mouvement Populaire, told French television.

Ahead of Tuesday's announcement, employer lobby groups had sounded the alarm, saying many companies, already struggling to cope with some of the euro zone's highest labor costs, couldn't sustain another tax hike.

__________________
It's STUMP

LinkedIn Profile
Reply With Quote
  #15  
Old 08-28-2013, 12:40 PM
Cooke Cooke is offline
Member
SOA AAA
 
Join Date: Jul 2013
Posts: 2,594
Default

France's problems largely stem from the 1980's when the decision was made to lower the retirement age to 60 to encourage early retirement in an effort to create jobs for young people. Some other European countries have made tough decisions since the 1980's to get their pensions systems on a more sustainable basis but France is a notable exception. I think possibly the best advice for France, and for other countries that may need to reform their pensions system, is the well-known quotation from The Leopard:

"If we want things to stay as they are, things will have to change”
Reply With Quote
  #16  
Old 08-28-2013, 01:33 PM
bdschobel's Avatar
bdschobel bdschobel is offline
Past SOA President
SOA AAA
 
Join Date: May 2004
Location: Sunrise, FL
Studying for FSA '76
College: MIT '74
Posts: 15,169
Default

France also made it illegal to work more than 32 hours a week, as a way to spread the work around among more people. Pretty crazy!

Bruce
Reply With Quote
  #17  
Old 08-29-2013, 08:50 AM
campbell's Avatar
campbell campbell is offline
Mary Pat Campbell
SOA AAA
 
Join Date: Nov 2003
Location: NY
Studying for duolingo and coursera
Favorite beer: Murphy's Irish Stout
Posts: 82,955
Blog Entries: 6
Default

FRANCE
http://online.wsj.com/article/SB1000...858609658.html

Quote:
Pension reform has been a periodic event on the French political calendar since 1993, and the country's unions have hardly gotten less wrathful toward change. Mr. Ayrault's latest patch-up for the pay-as-you-go system involves a gradual hike, between 2014-2018, in the amount employers and employees pay into the system.

The Prime Minister is also proposing an incremental increase, after 2020, in the minimum number of years an employee must pay into the system before he qualifies for a full pension, rising to 43 years by 2035. The higher payroll contributions will be offset by unspecified reductions in other payroll taxes.

All this is at best a palliative for a system that promises fixed life-long benefits to all workers. What could work better? One idea that was reportedly floated but didn't make it into this week's bill was to cap benefit increases to a rate below inflation, so that the real value of a pension would decline over time. That could have kept the system solvent a little longer, but the Socialist Party's core constituencies would never have gone for it. The hard-line unions have already said they'll strike on September 10 to protest the reform.

France's business community isn't much happier. Mr. Ayrault paid lip service to the importance of containing labor costs to preserve economic growth. But demographics are not on the Prime Minister's side. In 1950 France had five people of working age per retiree. Today it has 1.4, and the ratio is expected to fall to 1.2 by 2050.

__________________
It's STUMP

LinkedIn Profile
Reply With Quote
  #18  
Old 09-05-2013, 08:26 AM
campbell's Avatar
campbell campbell is offline
Mary Pat Campbell
SOA AAA
 
Join Date: Nov 2003
Location: NY
Studying for duolingo and coursera
Favorite beer: Murphy's Irish Stout
Posts: 82,955
Blog Entries: 6
Default

SPAIN

http://www.reuters.com/article/2013/...0GY39520130902

Quote:
(Reuters) - Spain is pushing for state pension reforms that would link payments to life expectancy and to economic cycles, without raising the retirement age, employment minister Fatima Banez said on Monday.

The proposals, which the government presented to unions on Monday, would include de-linking pensions from inflation as of next year, tying them instead to a more complex formula that also takes into account the system's revenues.

Spain is under pressure from Brussels to shake up its pensions system by the end of 2013, to help it fix imbalances in its economy and as soaring unemployment puts an unprecedented strain on social security funds.

.....
The number of people contributing to state pensions has fallen to its lowest level in a decade after nearly 6 million Spaniards lost their jobs and stopped paying into the system, which supports 9 million pensioners.

That forced the government, which is still struggling with a recession and budget cuts as it tries to reduce its deficit, to twice tap its social security reserve fund in July to help with extra summer retirement payments.

__________________
It's STUMP

LinkedIn Profile
Reply With Quote
  #19  
Old 09-10-2013, 12:03 PM
campbell's Avatar
campbell campbell is offline
Mary Pat Campbell
SOA AAA
 
Join Date: Nov 2003
Location: NY
Studying for duolingo and coursera
Favorite beer: Murphy's Irish Stout
Posts: 82,955
Blog Entries: 6
Default

FRANCE
http://in.reuters.com/article/2013/0...0H51XR20130909

Quote:
(Reuters) - French train services face disruption on Tuesday from a strike over plans to reform the country's indebted pension system, but most international links should operate normally, the SNCF rail company said.

The rail strike follows a broader call from the hardline CGT labour union, the dominant one among rail workers, for protests and work stoppages as President Francois Hollande's Socialist government prepares to legislate on the modest reform.

Late night services will be cancelled on many national lines and services on inter-city routes, and some TGV high-speed links will be cut. However cross-border services should run normally, except for links with Spain, an SNCF statement said.

Hollande partially reversed a pension funding overhaul pushed through by predecessor Nicolas Sarkozy despite mass street protests. But his government is now due to extend the pay-in period required for a full pension from 40.5 years to 43 years by 2035, according to the draft law obtained by Reuters.

A couple pics of the protest

http://www.theguardian.com/business/...b0b4804819a4e0



__________________
It's STUMP

LinkedIn Profile
Reply With Quote
  #20  
Old 09-12-2013, 05:45 PM
campbell's Avatar
campbell campbell is offline
Mary Pat Campbell
SOA AAA
 
Join Date: Nov 2003
Location: NY
Studying for duolingo and coursera
Favorite beer: Murphy's Irish Stout
Posts: 82,955
Blog Entries: 6
Default

About that French strike.....

http://www.reuters.com/article/2013/...9890H620130910

Quote:
(Reuters) - French trade union strikes against pension reforms won only limited support on Tuesday, with most trains running in a sign President Francois Hollande's modest proposals were unlikely to stir broad opposition.

Hardline unions led by the CGT called for rallies and work stoppages in 180 locations across France where workers, civil servants and students will march to voice their anger over the reform and a wave of belt-tightening measures.

But much of France was functioning normally, with commuter trains running on schedule and only slight delays expected on inter-city links, suggesting there will be no repeat of the giant strikes that followed a 2010 pension reform.

Hardline FO union leader Jean-Claude Mailly, who will march in Paris later in the day, told France 2 TV that while workers were upset over some points of Socialist President Hollande's reform, he did not expect a "tidal wave" of opposition.

__________________
It's STUMP

LinkedIn Profile
Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off


All times are GMT -4. The time now is 11:36 PM.


Powered by vBulletin®
Copyright ©2000 - 2018, Jelsoft Enterprises Ltd.
*PLEASE NOTE: Posts are not checked for accuracy, and do not
represent the views of the Actuarial Outpost or its sponsors.
Page generated in 0.18893 seconds with 9 queries