editor, Author at Pension Policy International

29AugAugust 29, 2023

Labour unions push to raise retirement age in greying South Korea

South Korean labour unions are battling company managements to press an unusual demand: raising the age of retirement to give workers a few more wage-earning years before having to seek another job to supplement slim pensions. The issue fuels a contest for jobs between older workers among one of the world's fastest-ageing populations, with a rate of poverty among its elderly of three times the OECD average, and young workforce entrants facing dwindling options. "Having to move to low-quality jobs after...

August 29, 2023

NewsAging, Retirement Age, South Korea

29AugAugust 29, 2023

Helping people overcome their lack of ‘longevity literacy’

Longevity risk continues to be a hot topic for advisors, especially as their clients continue to suffer from a lack of “longevity literacy.“ The TIAA Institute and the Global Financial Literacy Excellence Center at the George Washington University School of Business released data last week showing that American adults are overwhelming unaware of both their potential lifespans and the amount of money needed to cover them. Respondents were asked to identify the likelihood among 65-year-olds of living to 90 and the likelihood of...

August 29, 2023

NewsFinancial Literacy, Longevity

29AugAugust 29, 2023

Examining the Effects of Changes to UK Auto-Enrollment

Eliminating the U.K. trigger for auto-enrollment into workplace pension contributions—which currently requires an individual earn more than 10,000 pounds per year—would have a significant positive effect on the retirement outcomes for 90% of individuals, new research shows. However, the change mulled over by lawmakers across the pond may also have a negative impact on a small but considerable segment of the population, according to modeling and research commissioned by the Pension and Lifetime Savings Association and carried out by...

August 29, 2023

NewsBehavioral Science, Pension design, UK

28AugAugust 28, 2023

Chile. Presidente Boric se reunirá con el Partido Republicano y el PDG para avanzar en discusión de reformas

El presidente Gabriel Boric se reunirá este lunes con el Partido Republicano y el Partido de la Gente (PDG) para avanzar en la discusión del pacto fiscal y la reforma de pensiones. La instancia, que se realizará en La Moneda, es el tercer encuentro que el mandatario realiza con partidos de oposición para intentar destrabar la discusión de reformas y generar diálogos antes de votar en el Congreso. “Me parece óptima la decisión del Ejecutivo de conversar con todos los sectores porque no tiene mayorías en el Congreso. No le...

August 28, 2023

NoticiasChile, Reforma de Pensiones

28AugAugust 28, 2023

Nuevo retiro AFP pondría en riesgo calificación crediticia del Perú, según Moody’s

Desde que inició la pandemia del Covid-19, se han aprobado seis retiros de los fondos privados de pensiones, que implicaron la salida de cerca de S/88 millones. Para la agencia de calificación crediticia, un nuevo retiro está alejado de solucionar el problema de fondo. Más de 8 millones de aportantes al Sistema Privado de Pensiones (SPP) podrían verse beneficiados con el nuevo proyecto legislativo de retiro AFP de hasta 4 UIT (S/19.800) presentado por el congresista de Podemos Perú, José Luna Gálvez, que podría debatirse en...

August 28, 2023

NoticiasPerú, Retiro de Fondos

28AugAugust 28, 2023

España. Las pensiones en jaque: hay 1,3 mayores de 64 años por cada menor de 16 en la antesala a la jubilación de los baby boom

En España se contabilizan 133 personas mayores de 64 años por cada 100 menores de 16 años, una proporción que está creciendo “a un ritmo desbocado” a tenor de una esperanza de vida en máximos históricos y una caída de la natalidad que sitúa a España como el segundo país de la UE con menor número de nacimientos. Esta situación pone en jaque la sostenibilidad del sistema de pensiones en nuestro país, ya que en pocos años, los mayores de 55 años pertenecientes...

August 28, 2023

NoticiasEnvejecimiento, España, Sostenibilidad del Sistema

28AugAugust 28, 2023

US. IRS Postpones Rule That Hit Older, High Paid 401(K) Savers-And Their Employers

The IRS is again pushing off a start date for new legislation by introducing a transition period. Earlier, the IRS declared a one-year delay in the new reporting requirement for Forms 1099-K. The IRS has now announced an administrative transition period for the new catch-up contribution requirements under the SECURE 2.0 Act. The new rule requires older, higher paid 401(k) participants to make their catch-up contributions into after-tax Roth accounts, instead of pre-tax traditional accounts. Congress meant for it to take...

August 28, 2023

NewsRegulation, savings, US

28AugAugust 28, 2023

Zimbabwe: Pensioners Drown in Poverty As Companies Hold on to $47 Billion Deductions

HAVING grown up in the rural community of Chiriseri in Bindura South, Backdoor Mhunza says he witnessed the disgusting twist of circumstances which can ensue one in his old age due to reduced incomes. From experience, Mhunza could tell how chronic diseases may end up escalating among the aged who find themselves helpless and struggling to meet their basic needs, let alone paying for their medical treatment. Such childhood lessons left lasting impressions and since primary school Mhunza vowed that the...

August 28, 2023

NewsPension Management, savings, Zimbabwe

28AugAugust 28, 2023

Canada is burning, so why is our national pension fund still heavily into fossil fuels?

By: Patrick DeRochie Patrick DeRochie is the senior manager of Shift Action for Pension Wealth and Planet Health, a charitable project that tracks the fossil fuel investments and climate policies of Canadian pension funds, and mobilizes pension beneficiaries to engage fund managers on the climate crisis. As Canada experiences a record-shattering summer of deadly extreme weather, it’s worth remembering that our national pension fund has poured much of our retirement savings into the primary cause of the climate crisis: fossil fuels. In...

August 28, 2023

News, OP Ed, Op-EdCanada, Climate crisis, Investment, Pension Management

28AugAugust 28, 2023

Hongkongers in UK facing a ‘pensions crisis’

Middle-aged Hongkongers who fled the territory to live in the UK risk being left without a pension unless visa rules are changed, the Government has been warned. A campaign has been launched to persuade Suella Braverman, the Home Secretary, to alter the terms of British National Overseas (BNO) visas amid fears that many who escaped Hong Kong’s authoritarian crackdown in recent years are facing a looming crisis in retirement. The scheme was launched in 2021 to create a pathway to British citizenship for Hongkongers who...

August 28, 2023

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August 2023