July 2025
17Jul

Gobierno cubano aprueba un incremento de pensiones a partir de septiembre

Aunque el Gobierno anunció un aumento a partir de septiembre, la medida ni por asomo garantiza una vida digna a los jubilados, cuyas pensiones seguirán siendo insuficientes incluso con el alza. El primer ministro cubano, Manuel Marrero Cruz, anunció este miércoles ante la Asamblea Nacional del Poder Popular que a partir de septiembre se implementará un incremento de pensiones para los jubilados que actualmente reciben hasta 4,000 pesos mensuales, como parte de una medida parcial que pretende –y difícilmente logre–...

July 17, 2025
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17Jul

UK. New idea to tax inherited pensions worth £90k-plus floated – instead of imposing inheritance tax

The Government is being urged to slap income tax on inherited pensions worth £90,000-plus instead of making them liable for inheritance tax. Another option is to impose a tax charge at death on unspent pensions worth £150,000, £200,000 or £250,000, according to a finance industry group calling for a radical rethink of inheritance tax changes due in two years' time. Just levying income tax or charges on inherited pensions direct would reduce the burden on grieving families yet still rake in...

July 17, 2025
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17Jul

Pakistan approves 15 pct increase in EOBI pensions

Pakistan's federal cabinet has approved a 15 percent increase in pensions for beneficiaries of the Employees' Old-Age Benefits Institution (EOBI), according to an official statement issued on Wednesday. The decision was made during a cabinet meeting chaired by Prime Minister Shehbaz Sharif. The increase, effective from Jan. 1, 2025, will be financed through EOBI's own resources, the statement said. The cabinet also approved the formation of a committee to propose institutional reforms within EOBI and explore options to extend pension coverage...

July 17, 2025
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17Jul

Vietnam updates insurance law with guidance on lump-sum payouts

It also clarifies the entitlement to retirement and survivorship benefits. Vietnam's Government has issued a decree to provide detailed guidance on several provisions of the Law on Social Insurance related to voluntary social insurance. The new decree, Decree 159/2025/ND-CP, took effect on 1 July, replacing Decree 134/2015/ND-CP. Key areas covered include contribution rules, benefit entitlements, and transitional provisions. Specifically, the decree outlines regulations for individuals who do not qualify for pensions or social allowances due to age or contribution conditions; sets...

July 17, 2025
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June 2025
04Jun

Rising Discount Rates Push Pension Risk Transfer Costs Lower in April

Offloading retiree pension risk to an insurance company became less expensive in April, according to consulting and actuary firm Milliman, which tracks the cost of de–risking pension funds with its Milliman Pension Buyout Index. The firm estimated that in a competitive bidding process, average costs of a pension risk transfer declined to 101.1% of a plan’s accounting liabilities in April from 102.5% in March. At the same time, average annuity purchase costs among all insurers in Milliman’s index decreased to...

June 4, 2025
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May 2025
27May

Should people keep working until later in life?

Working until later in life can help build up a pension, but some people are counting the days until retirement. Data seems to suggest that a 70-year-old in 2022 had the same cognitive function as a 53-year-old back in 2000. It also pointed to improved physical health as a reason why fit and healthy people should be encouraged to work into their 70s. This would go some way towards addressing the ratio of working people to retirees, which has become increasingly...

May 27, 2025
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27May

UK. Only 40 percent know their pension is being invested

6 in 10 people don’t know their pension is invested. Men are far more likely to know their pension is invested – 51% compared to 28% of women. Workplace pension members are typically automatically put into a default fund. Investment returns have a huge influence on people’s pension outcome. Clare Stinton, head of workplace saving analysis, Hargreaves Lansdown: “If you have a pension, you’re an investor. Unfortunately, most people don’t realise this, so they risk missing a golden opportunity...

May 27, 2025
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27May

South Korean insurers bag $10b in profits for 2024

The increase was mainly driven by higher investment income across life and non-life. The preliminary net income of 22 life insurance and 32 non-life insurance companies in South Korea accumulated $10.32b (KRW14.14t) for 2024, up 4.6% year-on-year (YoY), data from the Financial Supervisory Service showed. The increase was mainly driven by higher investment income across both life and non-life segments. Life insurance companies reported a net income of $4.1163b (KRW5.6374t), up 7.1% YoY. Despite a $581.4m (KRW796.4b) decline in insurance income due...

May 27, 2025
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27May

South Africa. Treasurer accused of ‘double standard’ on PM’s $300k pension

Treasurer Jim Chalmers has been accused of double standards by allowing Prime Minister Anthony Albanese and veteran public officials to delay paying the new superannuation tax until retirement. Interest will be charged annually on the deferred tax liability at the long-term government bond rate, currently about 4.5 per cent. Read More @@afr

May 27, 2025
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23May

Sustainability reporting on pension schemes the path forward

In an era marked by growing awareness of environmental, social and governance (ESG) considerations, sustainability reporting has emerged as a crucial aspect for organisations, investors and stakeholders. For pension schemes, particularly, integrating sustainability into their reporting frameworks is more than just a regulatory requirement; it’s an ethical imperative that aligns with the long-term nature of their commitments to retirees and the society. Read the complete book here

May 23, 2025
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