April 2020

28Apr

Australian Disability pensioners fight for COVID-19 supplement

Disability pensioners claim they have been discriminated against by the federal government in its response to the coronavirus pandemic, with one young Sydney man saying he is on the verge of homelessness. A coalition of advocacy groups are demanding the government include people receiving the disability support pension on the fortnightly $550 COVID-19 supplement following the exclusion of disabled people and their carers, despite welfare recipients such as those on JobSeeker, Youth Allowance and Austudy being eligible. Brendan Brest, 22, who...

April 28, 2020
News, Slider, , ,
Read more...
28Apr

UK. Regulation in this new normal

By David Fairs The Pensions Regulator is anxious to meet the industry’s expectations, but this latest challenge does not come with a manual. Hope William-Smith speaks to David Fairs. It's nearly two years since David Fairs stepped away from more than two decades with KPMG to take the helm at The Pensions Regulator (TPR) as executive director for regulatory policy, analysis and advice.... How bad is the crisis for defined benefit (DB) schemes? Do all trustees need take up the easements we...

April 28, 2020
News, OP Ed, Slider,
Read more...
27Apr

Sería un riesgo poner todas las pensiones en un instituto público: Consar

Los fondos generacionales pueden invertir en infraestructura, pero otra institución podría tener restricciones. Eliminar las administradoras de fondos para el retiro (afores) para que el dinero de las pensiones sea manejado por un instituto público sería un riesgo que afectaría el ahorro de los trabajadores, afirmó Abraham Vela Dib, presidente de la Comisión Nacional del Sistema de Ahorro para el Retiro (Consar). Leer también México. Mario Delgado rechaza la propuesta de “Afore del Estado” como propuesta de bancada de Morena Al participar...

April 27, 2020
Uncategorized
Read more...
27Apr

Perú: AFP en problemas ante propuesta de retiro de fondos

Desde que los jubilados pueden retirar el 95.5% de sus ahorros acumulados, ya no existe sistema privado de pensiones sino un simple sistema de ahorro forzado hasta los 65 años. Sin embargo, el poder de las cuatro AFP sigue intacto pues siguen cobrando las comisiones a los afiliados y mantienen su influencia económica y política. Por tanto, es indispensable en el Perú la reforma integral del sistema de pensiones, público y privado, como lo ha reiterado hace poco el presidente Vizcarra. Las AFP...

April 27, 2020
Uncategorized
Read more...
27Apr

Asian Pensions Under Pressure on Early Withdrawals

The trade-off between the needs of today and the desires of tomorrow is challenging the retirement savings systems in Asia as Covid-19 forces early withdrawals. Retirement schemes in Asia could face funding shortfalls after pension systems in Australia, South Korea and Malaysia have allowed early withdrawals, while others in the region are under pressure to follow suit. Read also South Africa: The Rules Around Pensions in a Time of Mass Job Losses The ongoing Covid-19 pandemic is causing as yet untold damage...

April 27, 2020
News, Slider, , ,
Read more...
27Apr

Suspended UK pension contributions could total £1bn

Up to £1bn in pension contributions could be suspended this year as businesses strike deals with retirement scheme trustees to keep afloat during the Covid-19 crisis. The estimate emerged from a Financial Times survey of professional services companies advising more than half of the 5,500 employers backing “defined benefit” pension schemes in the UK. A lockdown of the nation’s non-essential businesses and households has left many companies facing steep reductions in revenues and a subsequent cash crisis, resulting in interventions by...

April 27, 2020
News, Slider, , ,
Read more...
27Apr

US. Coronavirus’ Impact on Retirement Money in the Market

The COVID-19 crisis has taken a major toll on the U.S. economy, and has been battering the stock market since the virus started spreading rapidly in March. It's not shocking, then, to learn that 401(k) and IRA balances have taken a hit. The average 401(k) balance fell to $91,400 during the first quarter of 2020, according to Fidelity. That's a 19% or $20,900 drop from the fourth quarter of 2019. IRAs didn't fare all that much better. The average IRA balance fell to $98,900 in...

April 27, 2020
News, Slider, ,
Read more...
27Apr

COVID-19 – an ageing world makes it harder to fight pandemics

By Andrew Scott The global fight against COVID-19 has triggered a surge of interest in the 1918 to 1920 influenza pandemic that killed more than 50 million people around the world. But while we can learn lessons from the past, we must recognise what is different this time and tailor our response accordingly. Read also US. How The Pandemic Is Making The Retirement Crisis Worse — And What To Do About It Above all, society is ageing. In 2018, for the first time in...

April 27, 2020
News, OP Ed, Slider, , , ,
Read more...
24Apr

Informal employment in Mexico: Current situation, policies and challenges

By ILO Informal employment is a persistent problem in Latin America and the Caribbean. Following a decade of economic growth and decline in unemployment rates, there are still 130 million workers holding informal jobs, deprived of social protection and labour rights. This does not mean, however, that there has not been any progress made on the issue of formalization. Formal employment, wage labour and social protection coverage have increased in Latin America and the Caribbean. Now, it is important...

April 24, 2020
Books, Labor Market, , , ,
Read more...
24Apr

The Future of Social Protection

By OECD Social protection systems are often still designed for the archetypical full-time dependent employee. Work patterns deviating from this model – be it self-employment or online "gig work" – can lead to gaps in social protection coverage. Globalisation and digitalisation are likely to exacerbate this discrepancy as new technologies make it easier and cheaper to offer and find work online, and online work platforms have experienced spectacular growth in recent years. While new technologies and the new forms...

April 24, 2020
Books, Labor Market,
Read more...