May 2025
19May

UK. State pensioners must obey DWP holiday rule or face ‘being taken to court’

State pensioners are being warned to obey a little-known Department for Work and Pensions ( DWP ) rule if they're heading out on holiday this year. Pension Credit claimants may not realise they need to inform the DWP if they plan to holiday outside mainland UK for any duration this year. A question in the DWP FAQ online asks: "Can I leave Great Britain and keep getting Pension Credit?" The DWP states: "We may pay Pension Credit for up to 4 weeks while...

May 19, 2025
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19May

South Korea. Targeting young voters, pension reform emerges as major policy issue

This year, Korea implemented its first structural pension reform in 18 years. Yet, frustration persists among younger generations, as they are expected to pay more but receive less compared to older generations. With a clear aim of appealing to these younger voters, presidential candidates are unveiling a range of additional reform proposals. The most radical proposal comes from the minor conservative Reform Party. Its candidate, Lee Jun-seok — the youngest among the presidential hopefuls — has unveiled a plan to establish...

May 19, 2025
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19May

Nigeria. NAICOM advocates long-term financial planning to enhance retirement security

The National Insurance Commission (NAICOM) has urged individuals to prioritise long-term financial planning and risk management to ensure a stable and secure retirement. Olusegun Omosehin, Commissioner for Insurance (CFI)/Chief Executive Officer, National Insurance Commission (NAICOM), who stated this at the 2025 Inspenonline Retirement Summit in Lagos, underlined the need for proactive retirement savings and investment strategies. Omosehin, who was represented by Julius Odidi, Lagos Director of NAICOM, emphasised that individuals must prioritise long-term financial planning to mitigate challenges associated with inflation,...

May 19, 2025
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16May

UK. Mandating large pension scheme investments could risk UK growth gains

Mandating how large pension schemes invest to support UK growth could risk undermining the benefits these schemes already deliver to the UK economy, WPI Economics has suggested. The research suggested that while the UK government is seeking to attract more investment, enforced allocation rules could fail to address broader barriers already identified, such as fiscal incentives, planning system bureaucracy, and the need for a “clear and consistent” industrial strategy. WPI Economics’ report found that large UK pension funds deliver “significant” economic...

May 16, 2025
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16May

US. Social Security Retirement Age Changes: When Can You Claim?

The full retirement age for Social Security is shifting again in 2025, marking a continued transition that affects millions of Americans approaching retirement. For those born in 1960, the age to receive full benefits has officially risen to 67. Why It Matters The increase in the full retirement age (FRA) reflects a phased change that began with the 1983 amendments to the Social Security Act, intended to account for longer life expectancy and financial solvency concerns within the program. The FRA is...

May 16, 2025
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16May

Seven out of 10 Kenyans struggle financially after retirement- CEO RBA

According to CEO Retirement Benefits Authority (RBA), Charles Mathira, seven out of 10 Kenyans are struggling after retirement because of lack of a savings plan to cushion them. Mathira noted that according to their statistics most Kenyans do not subscribe to any retirement benefits scheme and as of last year December, only 26% of workers had been saving for retirement and they are targeting it to reach 34% by 2029 through various sensitizations. In a speech read on his behalf by...

May 16, 2025
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15May

Mexico. Afore Assets Surpass $350 Billion for the First Time

During the first quarter of the year, Mexican Afores surpassed $350 billion in assets under management for the first time in history, according to final figures from the regulatory agency. The Afores ended the first three months of the year with a total balance of MXN 7.194 trillion, equivalent to $359.7 billion, based on an average exchange rate of 20 pesos per dollar—the rate at which the Mexican currency was traded during the first quarter. The accumulation phase for Mexican Afores is nearing its end, and according to industry...

May 15, 2025
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15May

One-in-four UK pension schemes consider reducing US exposure amid tariff uncertainty

A new pulse survey by WTW reveals that a segment of UK defined benefit (DB) pension schemes are actively reconsidering their US exposures, amid mounting trade policy uncertainty and investor concern about global volatility. Polling conducted at WTW’s recent client forum (8th May) showed that while the majority of schemes are maintaining current allocations, around a quarter are now considering pulling back from U.S. assets and dollar exposure. This includes 25% of schemes considering a reduction in U.S. asset holdings. Meanwhile, 34% of...

May 15, 2025
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15May

Despite Turbulence, Colombian Pension Funds Grow by 11%

Although global markets have been marked by turbulence this year, Colombian pension funds posted double-digit returns during the first quarter. That is the picture reflected in figures recently published by the pension fund managers’ trade association, Asofondos. In a statement, the organization—which represents the AFPs Colfondos, Porvenir, Protección, and Skandia—reported that pension fund assets closed March 2025 with a total value of 467.7 trillion Colombian pesos (about USD 109.89 billion). This represents 11% growth compared to the 421.3 trillion pesos (USD 99 billion) reported in March 2024. “This growth reflects not only returns (which totaled 38 trillion pesos over...

May 15, 2025
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15May

Jamaica. Pension assets climb to record $811b

The Financial Services Commission (FSC) is advising pension fund managers to be cautious in their investment decisions so as to safeguard the retirement savings they administer. It comes against the backdrop of changing trade and immigration policies in the United States that the pension regulator said could impact the local economy, given the trade relationship between the two countries and Jamaica’s reliance on foreign aid for development purposes. Jamaica’s private pension market reached a record $810.97 billion in assets under management...

May 15, 2025
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