【Native Speaker每日综合训练—36系列】【36-01】经管 Retirement

TaoRs92

Official Weibo: http://weibo.com/u/3476904471

新的系列开始啦。大家做好准备没~在这里感谢大家在回帖时留下感想，虽然没有逐个回复，但每条都看了并时不时偷偷傻笑！！
下周五下午到晚上有事，可能会提前到上午发帖，在这里先通报一下~
这周的主题是retirement。文章范围覆盖中国、日本、英国和美国四个国家。难度中等吧……

本来说好了不话痨的，但今天有一篇文章可能需要一些背景知识，所以还是复制粘贴一下，方便大家理解。
较为普遍的退休金制度：
1 养老金固定收益计划（Defined benefit plan）：根据员工的服务年限及补偿水平，每年固定向员工提供退休金。
2 养老金固定缴款计划（Defined Contribution Plan）：每个员工有独立的退休账户，雇主和员工单独或共同向该账户以确定方式按期缴款（缴款金额固定）。账户基金通过适当投资方式保值增值。退休后个人受益均从该账户提取，提完为止。
3 401(k) 计划（401(k)-style retirement plan）：美国一种特殊的退休储蓄计划。雇员每月从工资中划拨一定比例的资金进入401K养老金账户，雇主也会向账户中缴纳部分费用，账户资金全部归雇员个人所有，国家对其在划拨和投资环节免税，资金实行完全积累制。401K计划在缴费方面的规定非常灵活，可由雇员自己确定，且每年都可以调整，但不能超过工资总额的25%，每年最高不得超过15000美元 。雇员可以自主选择养老金的投资方式，资金可投资于股票、基金、年金保险、债券、专项定期存款等金融产品，也可向计划参与人员发放贷款。

Speed部分包括四篇文章。
第一篇与中国考虑提高退休年龄有关。
第二篇讲述日本企业准备将退休金制度改为401(k)计划。
第三和第四篇将视线转向英国。告诉大家英国老年人不太为退休金做投资；英国为老年人开发的住房遭遇种种问题。
Obstacle走向美国。呼吁利用老龄人群这块宝贵的资源，再创经济发展的美好前景~

Enjoy~~

Part I: Speaker

How Do Companies Boost 401(k) Enrollment? Make It Automatic

April 21, 2014 3:42 AM ET

Source：npr

http://www.npr.org/2014/04/21/303683792/how-do-companies-boost-401-k-enrollment-make-it-automatic


[Dialog, 4min 56sec]

TaoRs92

Part II: Speed

China will 'inevitably' raise retirement age, says labour ministry

Mandy Zuo

Saturday, 25 January, 2014, 4:28am

[Warm Up]

      The retirement age for mainlanders will inevitably be put back as China feels the pressure of its ageing population, the Ministry of Human Resources and Social Security said yesterday.

      "Postponing the retirement age would objectively help ease society's burden of caring for the ageing population," ministry spokesman Li Zhong said.

      Under mainland law, men retire at 60 and women at 50. Li said this should be changed to keep pace with rising life expectancy, which today is 75.

      Li said the ministry was collecting opinion and would propose detailed ideas to top leaders "on condition that a consensus is gradually reached and when the time is right".

      Leaders would also choose the right time to launch a centralised basic pension fund scheme. Currently, pension policy varies among provinces and directly-controlled municipalities.

[131 words]


[Time 2]

      In a survey of 3,000 mainlanders by the Guangzhou-based Canton Public Opinion Research Centre in April, 54 per cent of respondents opposed delaying retirement and 26 per cent showed support while the rest were undecided.

      Li said the population aged 60 or above was forecast to grow by more than eight million every year. The mainland now has some 200 million elderly, 15 per cent of the total population, according to official data.

      Professor Yang Yansui - who led a Tsinghua University study in August that proposed raising the retirement age - said change would be required in at least three areas.

      "Above all, one should get a greater pension if retirement age is postponed," she said. "Second, a modern service industry, especially one based on elderly care, should be boosted to absorb the senior labour force so they won't take job opportunities away from young people."

      She added that a bigger percentage of pension funds paid by workers and their employers should go to the workers' personal accounts.

      The Tsinghua study sparked much outcry as it suggested revising the retirement age up to 65 for most men and women.

      Wang Xiangqian, a lawyer specialising in employment, was among the first academics to propose delaying retirement five years ago when he was a university professor.

      "It would be impossible for China's social pension fund to break even at the existing retirement age," he said.

      A report by the Chinese Academy of Social Sciences showed that in 2012, about two-thirds of provincial governments' pension funds failed to make ends meet. The worst offenders were Jilin and Heilongjiang provinces, each more than 20 billion yuan (HK$25 billion) in debt.

      Not everyone agrees with raising the retirement age. "Where can a person aged 55 to 65 find a job?" asked Wang Lishi, a public servant in Suzhou, Jiangsu province. "Even if he gets a job as a doorkeeper or street cleaner, who would pay for his pension and health insurance?"

[329 words]

Source：South China Morning Post
http://www.scmp.com/news/china/article/1412920/china-will-inevitably-raise-retirement-age-says-labour-ministry

Big Japanese firms shifting to 401(k)-style retirement plans

January 23, 2014 2:12 am JST

[Time 3]

      TOKYO -- Major Japanese companies are increasingly embracing 401(k)-style defined-contribution retirement plans, spurred by both a strong stock market and a desire to eliminate pension shortfalls.

      IT firm Fujitsu will introduce a defined-contribution plan next fiscal year for about 25,000 workers who joined the company after April 1999, out of 80,000 in its pension system. It has begun conferring with the employee union to work out the details.

      The company faced an unfunded pension obligation of 460 billion yen ($4.37 billion) at the end of last March -- the highest among all companies using Japanese accounting standards. And with pension costs reaching around 100 billion yen a year, reform was urgently needed. A defined-contribution program can keep future liabilities from ballooning.

      Under changes to Japan's accounting rules taking effect at the end of this fiscal year, pension shortfalls will be booked as liabilities. This will in turn push down capital ratios at companies -- another factor behind the shift.

      The bullish stock market, as seen by the Nikkei average's 57% rise over the last year, has made it easier for management to propose defined-contribution plans to employees.

      The trend is expected to spread. NTT will introduce it in April for 90,000 workers. All Nippon Airways received approval to shift to a defined-contribution plan last Friday from a majority of its employees. Construction firm Obayashi and chemical company DIC are in the process of adopting the plan as well.

      Twelve years after the defined-contribution system was introduced in Japan, 4.65 million workers were enrolled in such plans as of the end of October, equivalent to one in seven salaried employees. Prudent Japan, a consulting firm, predicts that the number of enrollees will surpass 5 million as early as next fiscal year.

      Defined-contribution plans were mainly adopted by fledgling businesses at first, but the practice has since spread. Now, even blue-chip firms with traditional defined-benefit pension plans are making the switch.

      The balance of assets in defined-contribution plans stood at more than 7 trillion yen as of the end of fiscal 2012. While this is only 8% that of corporate defined-benefit plans and employee pension funds, it is expected to grow at an accelerating pace.

      Retirement payments to enrollees will depend on how well their funds are managed. It is thus important for employees to be able to make informed investment decisions to reach their targets. NTT plans to hold 800 briefings by the time its new plan is introduced.

[408 words]

Source：NIKKEI ASIAN REVIEW
http://asia.nikkei.com/Business/Trends/Big-Japanese-firms-shifting-to-401-k-style-retirement-plans

Are we investment dunces? Britons 'lag behind' American and Japanese investors when it comes to retirement planning

By ADAM UREN

PUBLISHED: 09:30 GMT, 8 February 2014 | UPDATED: 09:34 GMT, 10 February 2014

[Time 4]

      Britons are lagging behind some of their Western counterparts when it comes to using investments to fund retirements, a study has found.

      A lack of understanding about investing has been partly blamed for the finding that just 15 per cent of Britons responding to a YouGov poll said they plan on utilising stocks and shares Isas to supplement their incomes in retirement.

      This is significantly lower than the 53 per cent of Americans who told a Gallup poll that they will be dipping into the stock market once they stopped working.

Culture clash: Britons are less confident investing in retirement compared to Americans or the Japanese.

      Meanwhile it's estimated that a third of Japanese retirees buy self-managed investment products to fund their retirements.

      Stuart Welch, of TD Direct Investing, which commissioned the research, said: 'The research shows that Britain lags behind the Americans and Japanese in planning for old age.

      'It is striking to see such a discrepancy in pension planning, particularly when Britain is experiencing a sustained low interest rate environment with no signs of change in the short to medium-term.'

      In recent times British savers have struggled as it has been nigh-on impossible to find saving products that will provide above-inflation returns, with the situation only improving in the last few months by falling inflation.

      But many Britons have steered clear of investing in stocks and shares in order to get bigger returns, with the survey by TD Direct finding that a lack of understanding about how to invest in equities or bonds work was cited as a major obstacle for savers.

      The YouGov survey also found that almost 40 per cent of British adults do not plan on putting any money towards their retirement savings this year, including contributions to pensions.

      This should hopefully improve over the next four years as the Government's landmark automatic enrolment programme, which will bring up to 11million employees onto workplace pension plans, is fully rolled out.

      More than this, the Government is aiming to implement a more target-driven form of workplace pensions, defined ambition, that would ideally encourage people to engage more with their pension saving while providing them with a certain level of guarantee about how much they will have when they come to retire.

[360 words]

Source：This is Money.co.uk
http://www.thisismoney.co.uk/money/pensions/article-2554017/Britons-lag-American-Japanese-retirement-investors.html

Retirement homes

Don’t move, old people!

Planning laws make it harder for retirees to downsize

Jan 4th 2014 | From the print edition

[Time 5]

      ON FIRST impressions the building site in Battersea, overlooking the park, looks like it will host just another stack of luxury apartments, so common in this corner of London. And indeed it will, but for one slight difference. The Battersea Place development is, uniquely for prime London, being built as a retirement village. Its 112 flats are available only to buyers over the age of 65—most are likely to be in their late 70s. As well as a restaurant, gym and swimming pool, the development will have a care home.

      Britain’s population is ageing fast. The number of people older than 85 is expected to double by 2030. Yet Britain’s elderly are badly served by the housing market. Although 71% of people over the age of 65 own their homes outright, lots still live in large family houses, paying dearly to heat empty bedrooms and struggling with too-large gardens, broken boilers and council tax bills.

      That is bad for old people, and contributes to Britain’s worsening housing shortage. According to data from the English Housing Survey, roughly 49% of owner-occupied homes have at least two more bedrooms than the government deems necessary. Among those who rent—either privately or from the state—the figure is just 13%. Neal Hudson, an analyst at Savills, a big estate agent, estimates that there are almost 1.2m inefficiently used homes in London and the south-east alone.

      If old people could be persuaded to sell up, the young would benefit. Many want to. According to polling by Demos, a think-tank, 58% of older people are keen to move and one in four is interested in the idea of a retirement property. But they have few options. Britain has just 106,000 purpose-built owned retirement homes. Most one-bedroom and two-bedroom flats are built for first-time buyers, with little of the storage space and practical adaptations that older people need.

[322 words]


[Time 6]

      Partly, this is a matter of culture. British people are more cynical about the idea of retirement villages than Americans, says Claudia Wood, a researcher at Demos. Government “sheltered housing” built cheaply in the 1970s did much to undermine the reputation of purpose-built homes for older people. But the bigger problem is Britain’s planning controls, which distort the land market and make it extremely difficult for developers to build the sort of housing that older people would like to move to.

      Many councils fear public services will be overwhelmed by an influx of old people. Fully 65% of planning applications to build retirement homes are initially rejected. Even with planning permission, the market for land makes it extremely difficult to build, says Gary Day, a director at McCarthy and Stone, one of the biggest providers of retirement homes. Since councils typically expect homebuilders to pay for infrastructure or for new social homes, builders struggle to pay as much for land as commercial developers, so many suitable sites become supermarkets instead.

      Expensive land makes it almost impossible to build bungalows or other low-density housing and hard to build even retirement flats, which require lots of communal space. And since old people tend to need to be able to sell their existing homes before they can move, the market is hyper-cyclical. The Battersea Place development has taken six years to get going. It is only thanks to central London’s dramatic housing-market recovery that builders are on site.

      One solution to this would be to force councils to prioritise homes for older people, perhaps by loosening requirements for infrastructure contributions, says Mr Day. Councils could zone some sites specifically for downsizers, for example, thereby freeing up bigger properties nearby. That makes some sense. But Britain’s housing crisis in general is largely a result of its restrictive planning laws. Loosening them for all builders would suit homebuyers of all ages.

[324 words]

Source：The Economist
http://www.economist.com/news/britain/21592620-planning-laws-make-it-harder-retirees-downsize-dont-move-old-people

TaoRs92

Part III: Obstacle

Nicholas Eberstadt and Michael W. Hodin:

America Needs to Rethink 'Retirement'

Unleashing the economic power of older workers is essential for U.S. prosperity.

By NICHOLAS EBERSTADT And MICHAEL W. HODIN

March 10, 2014 7:14 p.m. ET

      Mr. Eberstadt is a resident scholar at the American Enterprise Institute. Mr. Hodin is executive director of the Global Coalition on Aging and a managing partner at the High Lantern Group.

[Paraphrase 7]

      Washington is abuzz over the politics of work. Will ObamaCare create jobs or destroy them? What would raising the minimum wage do to youth unemployment? And what to do about the long-term unemployed? Yet there is an odd political silence about a future vision for jobs and economic growth.

      One vital question in particular goes largely unaddressed: How do we build an economic growth model for an aging society? As the over-60 population grows much faster than the younger working-age cohorts, while life expectancy increases, the 20th-century model of work and retirement becomes increasingly unsuitable for economic growth. The key will be finding new solutions to engage older Americans in the workforce.

      With declining birthrates throughout much of the world, humanity is getting older. In Europe, the median age has climbed to 43 over the past 30 years, from 34, while in Japan—with the oldest population on the planet—the average age is 46, up from 39 in 1994. The American population is aging too (median age: just under 38), though more slowly thanks to immigration and a relatively high birthrate (almost two births per woman, in contrast to Japan's 1.2-1.4). But this won't last forever. The U.S. should adapt now or risk being less prosperous and competitive in the 21st century.

      Research suggests that keeping older workers engaged in the economy will directly boost gross domestic product. In Japan, a 2005 study by the Nihon University Population Research Institute concluded that increasing the retirement age to 65 from 60 could raise per capita GDP 10% by 2025.

      Calculations by the U.K.'s International Longevity Centre earlier this year suggest that increasing the total number of workers over 65 by just 2.6% a year could boost per capita output in 2037 by as much as 6%, cumulatively adding nearly £1.7 trillion to the U.K. economy—more than total British GDP today. Those estimates don't take into account benefits from a longer work life to national wealth, budgets or public debt.

      There is also mounting evidence that working later into life correlates with better individual health and satisfaction, and may contribute to them. Amid skyrocketing age-related health-care costs, this advantage can scarcely be overstated. Research by the Department of Work and Pensions in the U.K. found in 2006 that recipients of age-related entitlements "who move off benefits and re-enter work generally experience improvements in . . . mental and general health, and well-being."

      Thus at all levels of society—national, organizational and individual—there are advantages to redefining 20th-century retirement. The notion of establishing a fixed "retirement age," with the state paying to support retirees, was introduced in Germany in 1889 by Chancellor Otto von Bismarck. The initial German retirement age was 70, later dropping to 65—but this was when life expectancy at birth was perhaps 40 years. Today, German life expectancy is over 80. Franklin Delano Roosevelt brought the same retirement age to the U.S. with Social Security in 1935, when U.S. life expectancy was 61, nearly two decades lower than today's 79.

      Yesterday's way of thinking about aging must be replaced with something that makes sense for the 21st century. The U.S. can begin by pursuing three reforms.

      First, we can change the culture by changing how we measure, and the measure of "unemployment" must better account for older adults. The Bureau of Labor Statistics should update its benchmarks for analyzing the job market. People in their 60s or 70s should be considered eligible for work—but the "unemployment rate" tells us only about conditions for those actively working or seeking work.

      How about adding the "employment ratio"—the percentage of men and women 20 years of age and older holding jobs—to the key monthly labor-market indicators? Perhaps also the employment ratio for Americans over 55? That number would tell us that the "work rate" for older Americans has been rising for 20 years, a rare heartening fact about the U.S. workforce these days.

      Second, we need policy changes, starting perhaps with a tax credit for firms that invest in training and education for older workers, encouraging what the Japanese are starting to call "silver entrepreneurs." The Kauffman Foundation estimates that nearly half of all entrepreneurs in the U.S. are over 45. Since they are also among the most successful and productive, this is good policy as well as great business.

      Another priority should be worker flexibility across the life-span: making pensions portable and creating incentives for education and training to provide continuing skill enhancement.

      Third, corporations must change their approach to hiring, training and retaining talent to capture the abilities of older workers. Some organizations, such as the German car maker BMW, Home Instead Senior Care and the CVS drugstore chain, are already doing this, and it is proving to be good business.

      Management of a BMW plant in Bavaria joined with older factory workers to identify how the site could be made "age friendly." The small, cost-effective changes included softer floors, orthopedic footwear and adjustable workstations. Home Instead Senior Care's older workers are better able to identify with and understand the needs of its clients. CVS is improving customer service by substantially increasing its over-50 workforce, having heard from customers that they appreciate the advice of older employees.

      If human-resources executives took the lead, their influence would spread. Much of today's "green" movement got its momentum when companies such as Johnson & Johnson, Whole Foods and General Electric got aboard, spreading the environmental message because it made good social and business sense. Though corporations would hire, train and rehire only a fraction of the older population, business leadership would influence society-wide perceptions.

      The most common objection to encouraging older Americans to keep working is that they would "steal" the jobs of younger people and create a "gray ceiling." This is mistaken. Similar arguments were once made about women entering the workforce, but it is now clear that their contributions have been a tremendous economic boon. According to the National Women's Business Council, female-owned firms have an annual economic impact of $3 trillion and create or maintain more than 23 million jobs.

      America's aging population is a great untapped economic resource. The right policy reforms and business practices could leverage this resource to unleash another century of American economic growth. But first a profound transformation is needed in how we think about work, activity, aging and retirement.

[1074 words]

Source：The Washington Street Journal
http://online.wsj.com/news/articles/SB10001424052702304360704579419720180610260

ieveline

沙发？？
谢谢楼主！
Speaker
About saving for retirment, more progress in psychology than in finaince.
Now people save money for retirement only thorough automatic program
Americans spend more time and money on how to using the moneny for enjoying life than preparion for future.
An exmaple shows that people ignored the retirment saving plan when came an option and they can not save money by themselves.
A ted talker gave a speech about monkey behavior similar to human in hanlding finance.
So only company signs up its works for a retirement decisions can make different.
more companies take this project for their workers
Speed
warm-up--00:57
HRSS thinks it is the time to rise retirement age of chinese to eas the pressure of aging population.
And Centralised basic pension fund scheme will replace current pension policy.
1--02:14
54% people in a survey opposed delayin the retirement age.
But population of people over 60 rising 5 million every year, for current pension policy, lots of provision can not break.
Someone also say delaying retirment age make one get greater pension.
Even people get old, they can also be absorbed in service industries.
But some else worried, after they aged, no one will to hire them by risking in high pension and health insurance.
2--03:04
The numbder of company adaped 401K-style defined-contribution retirment plans are rising because of strong stock market and the desire to eliminate pension shortfalls.
Examples of big companies changed to defined-contribution plan.
The bullish stock market make easier to propose defined-contribution plans.
The trend is spreading.
Defined contribution plans were adopted mainly by fledgling companies.
3--02:23
Fewer Britons plan on suing stocks and shars to supplement their incomes in tretirement than American or Janpan.
Even Britain has sustained low interest reat environment, they lags behind the Amercans and Janpanese in planning for old age.
Britons  lack of understanding about how to inverst in equities or boands is the majoy reason.
Hope bringing workplace pension plans will help britions.
4--02:08
New district buildt for elders in London.
Because of population of elders are rising, and lots of them still live in the old home, which is too large and complicate for them to adopt.
It will benefit for society and elders group if they sell the old house and move to the facilities for elder pople.
5--02:02
Old shelter housing undermine the reputation of housing for elder people.
And planning controls distorted the land maket and make it extrmely difficult for developer to build facilities for elder people.
Fully 65% of planning application are rejected.
Even with permission, land market makes it extremely difficult to build facilities for elders
Only looosening the planning laws will help builders to make housing for elders, then elders sell their housing to youngers, benefiting all ages.
Obstacle--06:30
How to buld an economic growth model for an aging scociey is a vital quesiton because the over-60 polulation grows faster while life expectancy inceases.
20th-century model of work and retirement are not suitable.
with declining birthrate, humanity is getting older.
American has better suitation now because of immigration and relative high birthrate.
Rising retirement will benefit to country, organization and invidiual.
Three reforms
1.change the culture by chaning meature of unemployment and employment ratio account for older people.
2.policy change-- tax credite for firm invest training and education for older workes;making pension protable and creating incentives to continuing skill enhancement
3.corporations change their approachs to hire, traing and retain telent to capture the abilities of older people.
Older americance keeping working will not steal the jogs of younger people or create gray ceiling.

wangweiyi5332

木有地板！！！！~~~~~~~~~~~~~~~~~~~~~~~~~~~
Warm up  00:56
The retirement age for mainlanders will inevitable be put back as China feels the pressure of its ageing population.The government will also launch the pension fund program.
Timer2 1:47
The study suggested that with raising the retirement age ,change should be required at least in three areas. One is a greater  pensions should be acquired Secondly, government should  improve modern service industry in order to make sure that senior labor force can not take job opportunities away from young people.Thirdly ,a large proportion of pensions paid by workers and their employers should be guaranteed to flow into the workers' personal accounts .This study sparked an outcry  among citizens. some people are against this proposal ,while some people are in favor of  it.
Timer 3 3:25
Major Japanese companies plan to introduce a new pension system ,spurred by both spurred by a strong stock market and a desire to eliminate the pension shortfalls.
Timer4 2:16
Britain lags behind the Americans and Japanese in planning for old age. It is strange that Britons do not care about their retirement pensions .But many Britons  have steered clear of investing in stocks and shares in order to get bigger returns.Now ,government plan a program to encourage people to engage more to  their pensions saving accounts while providing them a certain level of guarantee about how much they will get when they come to retire.
Timer5 2.18 VPM 148
Many old people live in a big empty house ,which is bad for the senior people and the house market.Most senior people are keen to sell their house ,doing something good to young people ,but the reality do not make them to do so because there are few purposed-built owned retirement homes.
Timer6 2:27 VPM 143
British planning controls distort land market and make it extremely difficult for developers to build the sort of housing that the older people would like to move to.
Obstacle  7:54  VPM 142
America has also became a aging country, affecting its economy . However , change plans of company and policies of country can leash the economic power of older people . Here are three approaches .One ,try to change the indicator that how we measure the unemployment rate .secondly, change the national politics to revise the laws that make the labor work to 65 from 60 .Thirdly ,Company improve its working environment to guarantee the senior labor can work more comfortably.

菜农人民

Speaker:
401k enrollment progress may have more to do with psychology than finance. People prefer to other things but to saving for retirement. According to an experiment if companies do all things of entirement for people, it will make a huge difference. But people do not save for enough money for retirement, companies still are't doing any of this.

Warm up 0:46
beacuse of the pressure of ageing population, China gov is likely to postpoint the age of retirement

Time2 2:30
there are 54% people who are against the policy, a professor  point out that there are at least 3 areas which need changes... the local gov's debate is worse.

Time3 3:18
没大看明白，好像是日本的大企业都想用401k retirement plans，然后好像用钱很多怎么样····

Time4 1:59
Britons will use investments to fund retirement plans.

Time5 2:54

Time6 3:02

Obstacle 6:19

TaoRs92

time:
Retirement age in China will be higher someday.
Reason--longer life expectancy.
Aim--to ease the burden of caring aging people.
Other--pension policies.Right time.
_______________
time:
The proposal incurred many opposition.
Change in three areas,following with the raise of retirement age.
1 get greater pension.
2 mordern service industry,gurantee that older people will not take jobs away from younger one.
3 more pension funds should go to workers' personal accounts.
Opinions:
1 outcry
2 pension funds now are overloaded,rasing retirement age can help ease the difficulties.
3 not everyone agree.old people will face many problems to find a job.
_________________
time:
Big companies will more and more embrace 401k style retirement plans.
Reason,F for eg.
1 faces pension funds problems(costs).Refrom is needed--keep liabilities from ballooning.
2 changes in accounting rules--pension shortfalls will become liabitlies.if not reform,the liabilities of the company will dramaticly increase,as well.
The reform trend will spread.From defined-benifit plan To defined-contribution plan.
Important--manage the funds in accounts.good investments are needed.
_________________
time:
Britain join less investment for their pension funds than Americans and Japanese.
This is surprising because saving benifits may keep flat in the short to medium term,because of the inflation.
Major reason--lack of knowledge,don't know how to invest.
Other facts--
many will not put money to their pension accounts this year.
Results--
improve the pension program.let more workers join in.
government plans to encourage people better work on their pension.
_________________
time:
Apartments built for old people.
The housing shortage in England:
old people own big family houses,with bedrooms empty and unnecessary(waste)
young people face housing shortage.
Old people are willing to sell up their big houses and move into retirement property.This will also benifit young people.But the problem is--few retirement apartments can fit old people's needs.
_________________
time:
Some obstacles:
1 culture.cynical attitudes towards retirement homes.
2 distort land market,difficult to build retirement homes for old people.
Fear fot influx of old people.Don't want to build apartments for them.
High prices for lands--not build retirement homes,but commercial facilities.
Solution:
councils zone sites for retirement homes,free others for commercial use.
___________________
time:
Population of the world is aging.Economic growth face challenges.How to get another economic promotion?Sovle aging problems.Make old people another economic resource.
Surveys and data.If raise retirement age,GDP will increase dramaticly.Also,this change will bring other benifict--organizational,individual...
The history of introducing retirement age notion from Germany--not fit today's situation any more.
Three reforms needed:
1 change how to measure "unemployment",consider employement ratio(young and old)
2 policies to encourage companies welcome and train old employees/better pension system..
3 companies change apporachs to capture the abilities of old employees.(examples of some companies)though they might only hire a small proportion of old employees,this will bring positive impact on the whole society.
Doubt--old people take jobs away from young?Answer--no,consider women first entered workplaces.they proved to bring a lot to the economy.
Welcom aging population to work.Better economy growth.

hysteries

哈哈哈~话唠太可爱

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【Speaker】
People are spending more time doing other things instead of  saving something.

【Speed】
warm up        00:00:38.83
China would inevitably delay its retirement age due to the aging problem.

time 2        00:01:41.44
54% of mainland people oppose to the delaying of retirement age while others remain undecided.,
2 things to do :1.pension 2. life insurance
also, pension funds should go to the personal accounts
time 3        00:01:55.05
time 4        00:01:48.18
There's a striking discrepency in pension planning. Britain people are less likely to save money for their retirement.
time 5         00:01:40.14
The old in British is about to double by 2030, many elderly people are staying at a flat with, on average, 2 bedrooms, which is deemed to be unnecessary by the government,
Many old people in British are willing to sell up their flats.
time 6       00:01:35.38
They are reluctant to move to retirement villages due to the poor reputation about those flats bulid for old people.
Also, expensive land makes it almost impossible for infrastructure which the old are willing to move to .
Maybe forcing the councils to priortise homes for the old is the only solution.

【Obstacle】
00:03:49.13
Aging is a global problem
3 reforms are mentioned
1.change the culture--2. change the policy--3.change the approach to hiring, training and retaining talents.

疏离无罪

占~~~~~~~~~~~~

Speaker: Now many ameircan companies are automatically enrolling employees in retirement programs.Without this automatically enrollments,most americans do no save for their retirement.Their behavirs are common as monkey behaviors in an financial decision experiment.But the automatically enrollments really change the situation,despite the amount of money is not enough.The program will continue to be improved,though many companies still do not have one.

01:55
Most experts support the idea of delaying the retirement age.And many benefits are raised to support their idea.And the government pension funds can not meet the requirement now.But 54% people opposed this idea in a poll.

02:07
Many big Japanese companies are embracing the 401K defined-contribution plan because of the bullish stock market and heavy pension burden.This plan will depend much on how well their funds are managed.

02:17
Britions are lagging behind the US and Japan in investing to fund retirement.Many Britions are not confident in investing in stock and bond market.But the government will launch the automatically enrollment program soon.

01:55
Most British elders own a large family house,which is bad for themselve and the British housing market.Most elders are keen to sell theri house and move to the retirement homes.But there are not enough retirement homes.

01:59
British people are more cynical about the idea of retirement villages.And the council's decision lead to enpensive lands that makes it impossible to build retirement flats.And the core reason for British housing crisis is the restrictive planning laws.

06:44
Main Idea: Rethink the retirement
Our economic growth model should be rethink and redesign when now we are in an aging society.Many research shows that engaging elder in the work force and economy can benefit our economy a lot.To do this,we need t o keep old workers engage in economy,which meas we need to increase the retirement age.Moreover working later into life correlates with better individual health and satisfiction.
We need to redefine the retirment when the life expectancy has increased a lot.3 reforms are given by the author: 1 We can change the culture by changing how we meaasure unemployment 2 We need to change policies to encourage firms to hire more older workers. 3 Companies need to change their approach to hiring,training and retaining talent to capture the abilities of older workers. BMW have done very well in this aspect.
Some people have mistaken that older workers may steal jobs from young man.Actually this is a wrong idea as that women will steal men's job before.The economy will benefit from this transforamtion.

yigo

warm up and t2 [3:27]
Government officials said that China will postpone the retiring age in the following years, and will also issue a centralized pential policy.
A survey made in Guangzhou shows that 54% people disagree with the delaying retirement age.
Now, China is facing an aging society, of which 200 million are elder people,roughly 15% of total population.
Researchers said there are changes to be down in three areas.
1 greater pension for people;2 a mature service industry to fulfill the needs of the aging society;3 a bigger percentage of the payment should go into people's personal account.
Now, 2/3 of provinces can't make ends meet in their pension fund, especially in Jilin and Heilongjiang.


t3 [3:40]
defined contribution program prevails in Japan because
the program will keep liabilities from ballooning under Japanese accounting rules; the program will make the pension shortfall as liabilities.

The rising stock market has accelarated the prevalence of the program. 12 years after the program was introduced, many companies have adopted. Now blue chip companies are joining the programs.

t4 [2:50]
britonsa lag behind American and Janpanese in the investment of their old age.
1/3 Japanese buy self-managed investment plan for their old age.
40% British people do not have any investment plans for their retirement.
A government policy and program should make more people to join the program and enhance the pecentage of retirenment plan for aging people.

t5 [2:43]
BPlace is an attracting community for old people in London.
There are not enough housing market for old people. A survey shows that many old people in UK are living with their big family. 49% of them have two more bedrooms than the necessary standard by government. 1.2 Million people do not have efficient use. So one bed or two bed room flat for old people are in great need. If old people chould sell up their inefficient housing, young people will have more choice.
In fact, 58% people are keen to have a retirement property.

t6 [2:33]
there are two reasons why Britain have few retirement property market.
1 government has once failed to earn people's trust, so people are quite sophisticated.
2 Britain's strict planning control.

The expensive land makes many developers hard to find a suitable place. Because the government treats the land for elder people's building as the commerical use.

May be two ways could solve the problems.
1. loosening the requirement for retirement property when developers are looking for land use.
2. government zones out a land or place for special purpose. But it seems difficult to take.

Obstacle  [8:57]
How US change the economic growth model to an aging society? The key is aging people.
Good point:
1 Life expectancy of US people are growing,and keeping old people work will boost GDP, as a study shows.
2 working later life is good for health and mental satisfaction.

Three changes that US shoule adapt
1. changes measures for retirement age. People between 60-70' are Ok to put in labor.
2. policy changes. first, offer tax credit for companies that invest in old people's training and career development.Second, offer flexible pension across the nation.
3. approaches of hiring, training, education etc.
BMW is a good exmple.

Objection:
people say allowing people to work later steal young people's jobs, creating a grey ceiling. It is wrong. People bring this objection up are women who just enter the work force. But study shows that they are making an important contribution for the society. They play an important role.

US needs reforms to adopt its aging population.