News Archives - Page 101 of 736 - Pension Policy International

10MayMay 10, 2023

Kenya. ICEA Life Assurance gets regulatory approval to manage NSSF pensions

ICEA Lion Life Assurance has become the latest private pension provider to obtain the approval of the Retirement Benefits Authority (RBA) to manage NSSF contributions by employees earning more than Sh18,000, also known as Tier II contributions. The underwriter who is part of the ICEA Lion Group has made the disclosure as it lures employers who opt out of the NSSF as a custodian of the higher-tier pension contributions. “Our team is dedicated to assisting employers with the opt-out procedure. With...

May 10, 2023

NewsKenya, Pension Managemen, Regulation

10MayMay 10, 2023

Switzerland. Funds from the second pillar – the pension funds are struggling with low returns

Turbulence in the economy and on the financial markets – the pension institutes are also feeling the effects. Last year was not a good one for pension funds. This is shown in the annual report of the Supervisory Commission on occupational pensions. In particular, the fall in share prices has meant that many pension funds have made losses. The majority of these losses could be absorbed thanks to their reserves, but by no means all, as Vera Kupper sums up. 1.1 trillion...

May 10, 2023

NewsPension Management, savings, Switzerland

09MayMay 9, 2023

US. Corporate contributions could be a thing of the past

U.S. corporations are continuing to lower their expected contributions to their pension plans in 2023 as more and more plans reach full funded status. The companies behind the 100 largest corporate pension funds plan to contribute a total of up to $12.5 billion in 2023, according to Pensions & Investments' analysis, compared to $16.2 billion contributed in 2022. The data reflect the companies' expected contributions disclosed in their 10-K filings with the Securities and Exchange Commission. For S&P 500 companies overall, 28...

May 9, 2023

NewsOccupational Pensions, Pension Management, US

09MayMay 9, 2023

India’s pension scheme returns ‘exceedingly good’ versus benchmarks – regulator

India's national pension scheme offers "exceedingly good" returns of 9-12%, compared to most benchmarks, a top official at the pension fund regulator said on Tuesday. The National Pension Scheme, adopted in 2004, has recently come under criticism for inadequate returns, leading to a few state governments reverting to an earlier pension plan considered fiscally unviable. Following this, the federal government set up a committee to review the country's pension system. "The equity scheme, since inception, has given an annual return of close...

May 9, 2023

NewsAdequacy, India, Pension design

09MayMay 9, 2023

Impact of Spain’s Aging Population: Demographic Shift’s Effect on Major Sectors

Spain is a beautiful country known for its vibrant culture, stunning landscapes, and delicious cuisine. However, behind this facade lies a looming issue that threatens to shake the very foundation of Spanish society: an aging population. This demographic shift is having a profound impact on the country’s economy, social services, and overall way of life. This trend is expected to continue in the coming years, with the proportion of seniors projected to rise to 25% by 2050. As per the...

May 9, 2023

NewsAging, Spain

09MayMay 9, 2023

Belgium’s recovery plan blocked by pension reform stalemate

Belgium still has not made progress on the thorny pension reform issue even though it would unlock much-needed EU funds under the country’s recovery plan. On Monday, the government decided to increase its borrowing by €408 million to implement the Federal pillar of the recovery plan, Belgian news media La Libre reported. However, while the European Union paid Belgium €770 million of the €850 million of the first tranche in advance, the country was forced to postpone its first formal payment...

May 9, 2023

NewsPension Reform, Political economy

08MayMay 8, 2023

US. Rising interest rates put corporate pension plans on end-game path

U.S. corporate pension plans are on average fully funded for the first time in 15 years, and plan executives are now in the unfamiliar position of being able to achieve the end state of their plans. The publicly traded U.S. companies with the 100 largest defined benefit plans can now boast an average funding ratio of 100.2% as of Dec. 31, according to Pensions & Investments' analysis of the latest 10-K filings. It is the first time the annual analysis has...

May 8, 2023

NewsFunding, Pension Management, US

08MayMay 8, 2023

Australia’s big pension funds boost fossil fuel investments, activist group says

Australia's 30 biggest pension funds increased their investments in key coal, oil and gas producers by 50% in 2022 despite the funds' long term commitments to net zero carbon emissions, environmental activist group Market Forces said. Superannuation or retirement funds raised their investment to more than A$34 billion ($23 billion) in companies most responsible for expanding fossil fuels, Market Forces said. "Super funds are making a mockery of their own commitments to net zero by buying up wholesale in companies expanding...

May 8, 2023

NewsAustralia, Climate crisis

08MayMay 8, 2023

502,855 workers paid GH₵500 or less a month in Ghana

Data made available by the Social Security and National Trust (SSNIT), has demonstrated that most Ghanaian workers are paid low salaries and wages. Crux of the low pensions This is the crux of the low pensions paid to majority of the over 230,000 pensioners currently in the country. 1.9m active contributors The records show that the total number of contributors as at April 2023 amounts to over 1.9 million (1,930,780). The data reveals that only 27.7% of active contributors earn between GH₵2,000 and GH₵5,000...

May 8, 2023

NewsGhana, Income

08MayMay 8, 2023

China pursues high-quality population development to support modernization

China has sent a clear signal to adapt to the new normal in its demographics in an effort to boost modernization by improving the overall quality of its population. According to a meeting of the Central Commission for Financial and Economic Affairs held last week, China is currently experiencing a trend of birthrate decline, population aging, and differentiation in regional population growth. The latest official data showed that China's population reached 1.41175 billion at the end of 2022, a drop of...

May 8, 2023

NewsAging, China, Public Policy

May 2023