October 2024
16Oct

Higher Contributions, Net Replacement Rates Make World’s Best Pensions

Which countries have the best retirement systems? The Netherlands, Iceland and Denmark are the top three, according to the 2024 Mercer CFA Institute Global Pension Index. The top three were unchanged from last year’s report. The 16th annual survey benchmarked and compared the retirement systems of 46 countries, with a secondary purpose of highlighting shortcomings in each system and suggesting areas of reform. Among the characteristics present in the top-rated plans, the researchers identified: A public pension for the aged poor of at...

October 16, 2024
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16Oct

US aging population is on a collision course with a fragile healthcare supply chain

As Americans age, the need for a steady, reliable flow of healthcare supplies will only grow Hurricane Helene, which devastated swaths of the southeastern U.S. and caused the deaths of hundreds of people, also uncovered a quieter crisis and preparedness gap that could potentially shake the U.S. healthcare system and affect the lives of millions. One of the country's largest manufacturers of intravenous bags, North Cove, N.C.-based Baxter International (BAX) - which is responsible for 60% of the nation's supply of...

October 16, 2024
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16Oct

Kenya. Pension payments fall by Sh23 billion as government faces cash crunch

Pension payments to retired public service workers fell short by Sh23.65 billion in the first quarter of the Financial Year 2024-2025, highlighting a growing public cash crisis amid declining tax revenues. The National Treasury's Pensions Department processed Sh32.14 billion in payments during this period, reflecting a modest increase of 4.23 per cent compared to Sh30.83 billion from the previous year. However, this amount was significantly below the prorated target of Sh55.60 billion, based on an annual goal of Sh223.15 billion due...

October 16, 2024
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16Oct

Record-Breaking €1 Billion: Brazilians Boost Portugal’s Pension Fund Like Never Before!

In a remarkable achievement, Brazilian workers in Portugal contributed over 1 billion euros to the country’s social security system in 2023. This significant increase of 57% compared to 2022 highlights the vital role immigrants play in sustaining Portugal’s economy. But what does this mean for the future of labor in Portugal? Why Are Brazilian Workers Essential to Portugal’s Social Security System? Brazilian immigrants are becoming indispensable to Portugal’s economy. With local workers aging and fewer young people entering the labor market, how can...

October 16, 2024
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16Oct

Morocco faces challenges of corruption and reform of pension system

The Government Action Observatory, affiliated with Al-Hayat Centre for Civil Society Development in Morocco, has warned that one of the most prominent challenges facing the government of Prime Minister Aziz Akhannouch in its fourth year is that of reforming the pension system, which is at risk of bankruptcy by 2028. Corruption is also one of the pressing issues, as the cost of this affliction in Morocco exceeds 50 billion dirhams annually, which hinders economic growth and affects efforts to improve...

October 16, 2024
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15Oct

México. Realiza el SAR la primera transferencia quinquenal a cuentas de trabajadores

Con el fin de alinear la estrategia de inversión con la etapa de vida del trabajador y así mejorar su pensión, el Sistema de Ahorro para el Retiro (SAR) llevó a cabo la primera transferencia quinquenal. Este cambio, que se verá reflejado en el estado de cuenta de septiembre, impactó a los trabajadores que nacieron entre 1955 y 1959; es decir, las personas que tienen entre 65 y 69 años, que pasaron a la siefore básica de pensiones, y a...

October 15, 2024
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15Oct

España. Llega la tercera reforma de las pensiones, ¿como afecta a los futuros pensionistas?

El pasado 31 de julio, el Gobierno de España, junto con los sindicatos CCOO y UGT, y las patronales CEOE y CEPYME, alcanzaron un acuerdo a través de la Mesa de Diálogo Social para mejorar el actual sistema de pensiones y jubilación. Entre las medidas aprobadas se encuentran la compatibilidad entre pensión y trabajo, un nuevo procedimiento para actividades peligrosas y la mejora en el aprovechamiento de las mutuas para la recuperación de la salud de los trabajadores. Así, se podría decir que esta sería la tercera reforma...

October 15, 2024
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15Oct

Panamá. Arranca análisis comparativo de propuestas para reforma del IVM

Luego de finalizado el período de presentación de propuestas, la mesa de conversación que trata la crisis del Programa de Invalidez, Vejez y Muerte (IVM) de la Caja de Seguro Social inició el análisis comparativo para la reforma del sistema de pensiones de la CSS. Representantes de diferentes sectores plantearon su posición sobre las propuestas presentadas durante las diversas sesiones realizadas. Este encuentro tuvo como objetivo fundamental identificar similitudes, diferencias y soluciones viables para abordar la insostenibilidad financiera del sistema de...

October 15, 2024
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15Oct

UK. Govt launches National Wealth Fund to drive pension fund investment

The government has officially launched the National Wealth Fund and announced reforms to other public institutions to encourage additional pension fund investment into high-growth UK companies. The UK Infrastructure Bank is to be overhauled and rebranded as the National Wealth Fund. The announcement was made by chancellor Rachel Reeves at the government’s International Investment Summit in London yesterday (14 October). The fund is to receive £27.8bn and an expanded investment remit to support the government’s new industrial strategy, also announced yesterday. Its remit...

October 15, 2024
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15Oct

US. Most Corporate Pensions Saw Funding Dip in September

U.S. corporate pension funding ratios dipped slightly in September, as falling yields drove liabilities higher than could be offset by strong gains in equities, according to most of the country’s largest plan consultants. The consensus of slight declines in pension funding status comes after a month in which the Federal Reserve cut interest rates for the first time since the COVID-19 pandemic and its campaign of hikes to combat inflation, which began in 2022. Pension liabilities, driven in part by market interest...

October 15, 2024
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