There is a looming retirement crisis, as individuals are increasingly being asked to take responsibility for their own retirement planning and a majority of these individuals are financially unsophisticated. They cannot perform basic compounding calculations and do not understand the impact of...

With a rapidly aging population, Portugal faces some serious pension challenges including a Social Security system which is under pressure, and pension benefits gradually approaching levels that will require individuals to supplement Social Security with private savings. In addition, Portugal...

To address the looming retirement crisis, many governments are introducing new pension programmes tied to employment for uncovered workers (NEST in the UK and Secure Choice in some US states). These attempt to improve access to pensions, and continue a trend of transferring responsibility for...

Brazilian policy makers and researchers have discussed the introduction of a complementary pension system to complement the Regime Geral de Previdência Social (RGPS), specially for those that want a retirement income above the RGPS ceiling. This article first recommends that the complementary...

International investing and trade has one unintended consequence; namely, the creation of currency risk which causes the local currency value of the foreign receivables or investments to fluctuate dramatically because of pure currency movements. The academic literature on currencies has typically...

As with all countries around the world, the ageing of Japanese society is putting severe pressure on the public pension system. The Japanese system is complex with a basic pension for all citizens, but different forms of additional support for self employed, private sector and public sector...