September 2021
03Sep

UK. Pension contributions hold up well despite Covid

Workers kept up with payments into their pension funds last year, confounding fears that many people might scrap or cut their contributions because of pandemic pressures, according to government data. Annual savings from eligible savers rose to £105.9bn, from £100.4bn in 2019, said the Department of Work and Pensions in a report on Thursday. That extends the increases posted since 2012, following the introduction of auto-enrolment into work-based pension schemes to boost retirement saving. The DWP said a fall in employee...

September 3, 2021
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03Sep

Why pensions engagement can’t wait for your retirement

Prospect pensions officer Stewart Mott looks ahead to the events that Prospect will be holding to mark Pensions Awareness Day later this month and explains why, even though your retirement might seem far off, it is still important that you start engaging with your pension now. It’s easy to neglect our pensions, we save for retirement over many years, and often don’t have a reason to engage with our pension unless we are moving to a new employer. Pension Awareness Day...

September 3, 2021
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03Sep

Policy Forum: Tax, Social Security, and Employment Status – Removing the Distortions in the United Kingdom

By Judith Freedman The COVID-19 pandemic has strained tax and social security systems. Cracks that have existed for some time have been opened up further and are unlikely to close without structural repair. New insights into the shifting nature of work, combined with the development of technologies that can provide modern, practical solutions to old problems, offer the opportunity to rethink the way we tax gig workers and other non-standard providers of labour. This article argues that we need to...

September 3, 2021
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03Sep

Do Trade Unions Promote Age Diversity and Intergenerational Solidarity in the Workplace? A View from Canada and Israel

By Pnina Alon-Shenker, Lilach Lurie In this Article, the authors explore – through a survey of collective agreements, case law, unions’ constitutions and websites – how trade unions in Canada and Israel balance and effectively support the interests of older and young workers. While unions in both countries promote age diversity to some extent (Canadian unions more than Israeli unions), they do not take sufficient action to promote intergenerational solidarity and sometimes even inhibit solidarity between generations. The authors conclude...

September 3, 2021
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03Sep

Global Pensions and ESG: Is There A Better Way?

By Luba Nikulina The influence of ESG factors has been growing exponentially in the last five years. This paper explores whether purpose with multiple stakeholders, responsibility for the impact of investments, and system level engagement apply to global pension funds. Aside from government spending, global pension assets represent the largest pool of capital on the planet with the longest time horizon and multiple stakeholders across different generations. The power of influence of this capital is enormous. Many international challenges can...

September 3, 2021
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02Sep

Argentina. Las jubilaciones y pensiones tienen un aumento de 12,39% y acumula un incremento de 36,2%

A partir del 1° de septiembre, jubilaciones, pensiones y asignaciones familiares aumentarán 12,39% debido al tercer aumento por movilidad del año. Considerando los incrementos otorgados en los primeros 9 meses de 2021, los beneficios aumentaron 36,2% quedando por encima de la inflación. De esta manera, la Anses informó a través de un comunicado que se demuestra que la nueva fórmula de movilidad (Ley 27.609) sancionada por el actual Gobierno nacional, generó un aumento superior al que hubiese otorgado la fórmula...

September 2, 2021
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02Sep

Perú. AFP: Desde hoy afiliados que tienen 50 años pueden acceder a la jubilación anticipada

¡Atención, afiliados a la AFP! Desde hoy, miércoles 1° de setiembre del 2021, entra en vigencia la Ley N°31332, que establece los 50 años como la edad mínima, tanto para hombres como para mujeres, para acceder al Régimen Especial de Jubilación Anticipada (REJA) del Sistema Privado de Pensiones (SPP). De esta manera, la modificación en el REJA permitirá que desde hoy miércoles todos los afiliados de las AFP que tengan 50 años a más se puedan jubilar de manera adelantada. Para...

September 2, 2021
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02Sep

More Than 4 Billion People Have No Social Protection as COVID-19 Wreaks Havoc

The International Labor Organization reports more than 4 billion people globally have no social protection at a time when the COVID-19 pandemic is wreaking havoc upon their lives and livelihoods. Read also World Social Protection Report 2020–22 The ILO's World Social Protection Report 2020-2022 reveals the extent to which COVID-19 has devastated the world of work. It exposes the inequality between the rich countries that are beginning to rebound from the economic distress of the pandemic and the developing countries that...

September 2, 2021
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02Sep

South Africa. Govt revokes proposal to force employees to contribute to state-run pension fund

Mandy Wiener interviews Isobel Frye, Director at the Studies in Poverty and Inequality Institute. The Studies in Poverty and Inequality Institute is disappointed that the government has withdrawn the green paper proposing mandatory contributions to a pension fund It says the response to the green paper by organised business was not “in good faith” Read also Plan for early pension access in South Africa could do more harm than good, authorities warn "There were far too many wide-ranging and negative impacts...

September 2, 2021
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02Sep

UK. Draft CDC regulations hampered by poor definitions, industry warns

The government’s consultation into draft regulations governing collective defined contribution schemes requires more work on definitions if these pension funds are to be properly implemented, with the Pensions and Lifetime Savings Association warning it could create a “back door” for unscrupulous employers. In a CDC scheme, contribution rates for employers and employees are set in advance, and members pool investment and longevity risk. These pension funds provide income in retirement, though the rate of increase varies and pension reductions are...

September 2, 2021
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