admin, Author at Pension Policy International

14AugAugust 14, 2018

Commonwealth Bank of Australia breached pension rules, inquiry hears

Commonwealth Bank of Australia (CBA) “breached a legislative provision” when it failed to transfer 15,000 pension customers to a low-cost product, an inquiry into financial sector conduct heard on Tuesday. Documents read at the Royal Commission showed the bank failed to comply with a law introduced in 2014 to provide low-cost retirement funds - dubbed superannuation funds - to some clients who did not choose a specific retirement savings product. Michael Hodge, the barrister assisting the commission, said that as such,...

August 14, 2018

News, Slider2018, Australia

14AugAugust 14, 2018

Korea. Public against national pension changes

People are becoming more worried about life after retirement as the government is seeking to extend the mandatory national pension subscription period by five years to better finance the depleting pension fund. According to the National Pension Service (NPS), the pension fund is expected to bottom out by 2056 or 2057, three to four years earlier than the NPS predicted five years ago. So the government is contemplating extending the subscription period to the age of 65 from the current...

August 14, 2018

News, Slider2018, korea

14AugAugust 14, 2018

Irish retirees at risk of losing UK pension payments over Brexit

Pension payments being made to thousands of people in this country are threatened by Britain’s plans to pull out of the European Union, it has emerged. The issue is a huge risk to the pension payments of people who worked in the UK and get either a UK state pension, a British private pension or both. And it is likely to affect people who worked in Northern Ireland but live in the Republic and receive a sterling pension. Around 120,000 people here...

August 14, 2018

News, Slider2018, Ireland

13AugAugust 13, 2018

Argentina. Reforma previsional: pese a las promesas, las jubilaciones no le ganan a la inflación y pierden un 9%

Según lo estimado por especialistas en Seguridad previsional, la reforma sancionada el año pasado perjudicó a jubilados y pensionados. No le ganan a la inflación, pierden un 9% de sus ingresos y además muchos viven debajo de la pobreza. Por su parte, la situación de los pensionados es alarmante. La reforma previsional sancionada con polémica y rechazo de gran parte de la población, prometió -a pesar de todo- una mejoría en las jubilaciones y pensiones. Pero, a más de ocho...

August 13, 2018

Noticias2018, Argentina

13AugAugust 13, 2018

Chile. Presidentes de las AFP rayan la cancha ante reforma previsional

En la industria previsional hay consenso respecto de que es urgente mejorar las pensiones de los chilenos y hacer una completa reforma. La discusión sobre este tema se ha estado fraguando por años, donde se enarbola como referente el Informe Final de la Comisión Asesora Presidencial Sobre el Sistema de Pensiones, entregado al gobierno de la expresidenta Miche-lle Bachelet en 2015. La pelota está en la cancha del Ejecutivo desde ese entonces. Sin embargo, lo antipopular que pueda ser subir la...

August 13, 2018

Noticias2018, Chile

13AugAugust 13, 2018

Collapsed UK retailer BHS pension scheme secured by $1 billion insurance buyout

The pensions of 9,000 employees of collapsed British department store chain BHS were secured on Sunday after a specialist insurer announced an insurance buyout of the firm’s ‘BHS2’ scheme covering 800 million pounds ($1 billion) of liabilities. Pension Insurance Corporation said the buyout left members of the scheme, which was set up in 2017 following BHS’s collapse and a cash injection by former owner Philip Green, fully insured and certain to receive benefits under the scheme. A pension insurance buyout involves...

August 13, 2018

News, SliderUK

13AugAugust 13, 2018

People retire early for 2 reasons, and neither of them is money

When it comes to early retirement, there's no discounting the importance of having enough money saved to retire early, but many early retirees will tell you the truth: money doesn't really matter once you get there. Brandon of the blog Mad Fientist, who retired at age 34, previously told Business Insider he wishes he knew how "unimportant and insignificant" money would be after retiring early. "I always thought that I would spend my early retirement doing entrepreneurial things, but now that...

August 13, 2018

News2018

13AugAugust 13, 2018

UK pension funds could face legal action over climate risk, ClientEarth warns

ClientEarth has written to 14 of the UK's biggest pension funds warning they could face legal action unless they properly take account of risks to their investment portfolios posed by climate change. On Friday the green lawyer organisation wrote to the Shell Contributory Pension Fund, as well as the staff pension schemes of Tesco, Aviva, Lloyds Bank and HBOS, highlighting its "concern that a failure to think strategically about climate change may create risk for beneficiaries". "We are concerned that you,...

August 13, 2018

News, Slider2018, UK

11AugAugust 11, 2018

Social Security Programs and Retirement around the World: Working Longer

By Courtney Coile This is the introduction and summary to the eighth phase of an ongoing project on Social Security Programs and Retirement Around the World. This project, which compares the experiences of a dozen developed countries, was launched in the mid 1990s following decades of decline in the labor force participation rate of older men. The first several phases of the project document that social security program provisions can create powerful incentives for retirement that are strongly correlated with...

August 11, 2018

Aging, Books, Labor Market, Pension designIncome, Payout, Public Policy, Regulation, Social Security

11AugAugust 11, 2018

Transitions through the Labor Market: Work, Occupation, Earnings and Retirement (Research in Labor Economics)

By Solomon W. Polachek Understanding the factors that affect how one transitions from school to the labor market and finally to retirement is important both to the individual and to the policy maker. This volume contains seven original and innovative articles that analyze aspects of such labor market transitions. Questions answered include: How did hiring and firing decisions change for blacks and Hispanics relative to whites in the Great Recession? Can redesigning the minimum wage lead to more efficient employment...

August 11, 2018

Books

August 2018