Whom Can I Rely on? The Impact of China's Public Pension Program Expansion on the Expectations for Old-Age Support

Aging is a global trend and China is no exception. Older people in China mostly rely on their adult children for old-age support. This traditional provision pattern of old-age support, however, is challenged by hundreds of millions of internal migrant workers. They relocate from rural to urban regions for better employment and are no longer able to provide old-age support to their older parents in rural areas. The aim of this study was to determine the impacts of China’s public pension program expansion in rural areas on older people’s expectations for old-age support. Utilizing the natural experiment of program expansion, this study identified an instrumental variable as the county adoption of the pension program. In addition, the study analyzed a nationally representative longitudinal dataset CHARLS with fixed effects model. Results from the statistical model showed that given the participation in the pension program, older adults reported more reliance on pension for old-age support financially and less reliance on children. Heterogeneous effects were found for older adults living together with children and older adults living independently. These important findings suggest that the government partially assumes the responsibility for the old-age support of adult children in the traditional sense. The potential benefits of this study provide a policy implication for developing countries to alleviate old-age support problems and enable internal migration for economic development.

ACCOUNTING SYSTEM FOR PURCHASE OF RAW MATERIALS PT. PHILLIPS SEAFOOD INDONESIA

The purpose of this study was to find out and obtain data regarding the Mandatory Employee Contribution (IWP) billing system for participants managed by PT. TASPEN (Persero) Serang Branch Office, as well as providing information to the participants of the pension program and Old Age Savings (ENT) how the process or flow goes through in collecting the Mandatory Employee Contribution (IWP) for these participants. The results of the study indicate that the Mandatory Employee Contribution (IWP) billing system for participants at PT. TASPEN (Persero) Serang Branch Office which has been created and implemented in the Company Operational Standards (SOP) has been explained in detail and has been implemented properly in accordance with the system created.

COLLECTION SYSTEM OF MANDATORY EMPLOYEE CONTRIBUTIONS (IWP) FOR PARTICIPANTS AT PT. TASPEN (PERSERO) ATTACK BRANCH OFFICE

The purpose of this study was to find out and obtain data regarding the Mandatory Employee Contribution (IWP) billing system for participants managed by PT. TASPEN (Persero) Serang Branch Office, as well as providing information to the participants of the pension program and Old Age Savings (THT) how the process or flow goes through in collecting the Mandatory Employee Contribution (IWP) for these participants. The results of the study indicate that the Mandatory Employee Contribution (IWP) billing system for participants at PT. TASPEN (Persero) Serang Branch Office which has been created and implemented in the Company Operational Standards (SOP) has been explained in detail and has been implemented properly in accordance with the system created.

Analysis of the Effect of Asset Allocation on Portfolio Performance with Diversification as an Intervening Variable

This study aims to analyze the effect of asset allocation on portfolio performance with diversification as an intervening variable in the Pension Fund, a non-bank financial institution that manages the pension program and is registered and supervised by the Financial Services Authority (OJK) in the 2016-2019 period. A total of 34 Pension Funds were sampled so that the total sample was 136 in the 2016-2019 period. Data analysis using Structural Equation Modeling (SEM). The results showed that Selection Ability and Fund Size had a significant effect on Diversification, while Timing Ability had a significant effect on Portfolio Performance. Intervening test using Sobel Test shows that Diversification has not been able to mediate Asset Allocation on Portfolio Performance.

“Snet,” Our Man in Miami: Urban Tourism, Illegal Gambling, and the Challenge of a Sinful Southern City, 1941-1944

South Florida developed as an urban gambling resort center that posed both cultural and political challenges to the traditional southern values that animated the state’s approach to regulating vice. This article examines the conflicts over vice tourism in South Florida by focusing on the relationship between Governor Spessard Holland and former Miami Beach Mayor Louis “Snet” Snedigar. Snedigar became Holland’s undercover informant when the governor cracked down on illegal gambling as part of his effort to fund the state’s old-age pension program by taxing bets placed at horse tracks in South Florida. By exploring the entanglement between a conservative southern state and a “liberal” urban outpost, this article illustrates how the southern approach to urban development forestalled the emergence of South Florida as a recreational gambling resort comparable to Las Vegas.

Manajemen Dana Pensiun Syariah

Pension Fund is a legal entity that is independent and separate from the employer, whose function is to manage and run a pension program in accordance with applicable regulations. In this regard, Pension Funds require a separate reporting system from the employer which aims to provide information about Pension Fund finances. The purpose of this research is to find out what are the differences between conventional pension funds and syari'ah pension funds and how to manage pension funds according to syari'ah. The analytical method used by the author is to use a qualitative approach, methodological qualitative research is an approach using deductive thinking in which a series of variables and research results are evidenced by cause and effect thinking, the type of research is literature study where the author in this study collects data with reading journals and books so that you will get accurate data and do in-depth analysis to find and get in-depth information about how to manage pension funds based on the principles of sharia which we now know as Sharia pension funds, the results are the basis of differentiation in pension funds conventional syari'ah is that shari'ah pension funds have several advantages including: having a contract in each transaction, having a shari'ah supervisory board and also when participants are late paying pension contributions they will be subject to permanent penalties. i the proceeds from the punishment funds will be allocated for social activities, so that there is an element of helping (atta'aun) fellow human beings.

Association Between Social Pensions With Depression, Social, and Health Behaviors Among Poor Older Individuals in Colombia

Objectives Many low- and middle-income countries have introduced social pensions to alleviate extreme poverty and improve the well-being of older individuals. However, evidence remains inconclusive about the potential effects of such programs on mental health, social, and health behaviors. Methods Data for individuals aged 60 or older came from the nationally representative Encuesta Nacional de Salud, Bienestar y Envejeciamiento survey in Colombia 2015 (N = 9,456). We used propensity score matching to estimate the association between the country’s social pension program (Colombia Mayor) with depression, self-rated health, food insecurity, alcohol consumption, social participation, and labor force participation. Results Results show that receiving the program does not significantly affect the likelihood of suffering from depression or self-rated health among either men or women. However, receiving the program is associated with significant reductions in the likelihood of experiencing food insecurity and significant increases in the likelihood of participating socially. Among women, receiving the program is associated with significant reduction in the likelihood of participating in the labor force. Discussion The absence of a measurable effect on depression and self-rated health may be explained, at least partly, by the program’s comparatively small cash benefit and the sharing of resources with other family members. Policymakers should assess possibilities to maximize the health and social benefits of social pensions.

Research Inisghts: The Unintended Effects of a Noncontributory Pension Program during the Covid-19 Pandemic

Results show that becoming eligible for an established, noncontributory pension program during the Covid-19 crisis in Bolivia increased the probability that households had a weeks worth of food stocked by 25 percent and decreased the probability of going hungry by 40 percent. The positive impacts are particularly large for households that experienced labor market shocks at the onset of the pandemic, and for low-income households for which the transfer represents a larger share of household income. During a systemic crisis, such as the Covid-19 pandemic, a preexisting nearuniversal pension program quickly delivered positive impacts, in line with the primary goals of a social safety net.