December 2024
23Dec

‘Heartless’ multinationals exploiting pensions loophole for UK workers

Some of the world’s richest companies are accused of exploiting a loophole in pension law to freeze increases in payouts for many former UK employees, despite the cost of living crisis. The companies, which include Hewlett Packard Enterprise (HPE), American Express and Pfizer, are being urged to “do the right thing” and increase these frozen pension payouts in line with inflation. MPs have condemned the failure of companies to increase the payments in the face of high inflation in recent years as...

December 23, 2024
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23Dec

Here’s What Retirement on a Pension Looks Like in America

The pursuit of happiness in retirement is a lot easier with a pension. Retirees with regular paychecks report higher levels of satisfaction than those who rely on 401(k)s to supplement their Social Security, studies have shown. The security of a lifelong income is a source of comfort and happiness, those with pensions say. While 401(k)s can generate more wealth, retirees say navigating all the investing, tax and withdrawal strategies can add to their stress when they are trying to lower it. Pensions do have drawbacks....

December 23, 2024
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23Dec

Spain To Boost Pensions Significantly By 2025

Major reforms announced to address inflation and support vulnerable pensioners. Starting January 1, 2025, Spain will implement significant pension reforms ushering both structural changes and substantial increases aimed at enhancing the financial well-being of pensioners. These reforms are framed within the government's broader strategy to address economic inequalities and inflationary pressures affecting vulnerable populations.The Ministry of Inclusion, Social Security and Migration, led by Elma Saiz, confirmed the increments will affect both contributory and non-contributory pensions, marking one of the most...

December 23, 2024
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23Dec

Nigeria. PenCom targets 20 million contributors under micro-pension scheme

The National Pension Commission (PenCom) is targeting inclusion of over 20 million contributors in its Micro Pension Scheme as part of its plans to overhaul and expand the commission’s landscape. The commission said the overhauling of the Micro Pension Plan (MPP) was part of a broader strategy to increase financial inclusion and extend pension coverage to more Nigerians, particularly in the informal sector. The reforms, announced by the Director General, Omolara Oloworaran, during the 2024 PenCom Media Conference in Lagos on Thursday,...

December 23, 2024
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23Dec

German Pensioners Set For Increased Payments Amid Rising Healthcare Costs

Projected 3.5% increase may bring some relief to seniors, but rising healthcare contributions raise concerns. Millions of seniors across Germany can expect improved financial aid as the government gears up for noteworthy pension increases next year. According to recent projections, pensioners will see their benefits rise by approximately 3.5% starting from July 2025, as reported by various news outlets, including the Deutsche Presse-Agentur. This anticipated increase aligns with the yearly Rentenversicherungsbericht, which highlights the progress of the statutory pension insurance scheme...

December 23, 2024
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20Dec

How would a U.S. government shutdown affect Social Security pensions?

Pensions are one of the major concerns of citizens around the world. From retirement, permanent disability or even in the tragic reality of receiving a widow’s benefit for the death of a spouse. Therefore, these retributions granted by the State are, without a doubt, one of the main reasons for society to pay taxes and enjoy an income that balances its purchasing power with increases in goods and services. Therefore, in the matter of the United States, despite hopes that a funding agreement would...

December 20, 2024
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20Dec

Empowering the Next Generation: Adapting Hong Kong’s Workforce for Tomorrow

As we look toward the future of work in Asia, understanding the evolving dynamics of the workforce is crucial, particularly in the Hong Kong market. Mercer’s 2024 Global Talent Trends survey reveals that generational shifts, especially the influence of Gen Z, are reshaping workplace expectations and strategies. With a strong emphasis on flexible work arrangements, well-being, and technological engagement, companies in Hong Kong must adapt to meet the needs of this emerging workforce. By fostering a work environment that aligns with...

December 20, 2024
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20Dec

Nigeria. PenCom to remodel micro-pension scheme – DG

The Director-General of the National Pension Commission, Omolola Oloworaran, has revealed that the micro pension scheme would be remodelled to boost participation. Oloworaran said this on Thursday at the 2024 PenCom Media Conference held in Lagos. Micro pensions are specifically designed for individuals in the informal sectors. She said, “What we are doing with a micro pension is treating it a little differently from how we were doing it before. As we know, the micro pension doesn’t resonate with everyone within the...

December 20, 2024
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20Dec

Pensioners of Radio Pakistan in Gilgit-Baltistan demand overdue benefits

Last week, a determined group of retired employees from Radio Pakistan marched through the streets of Pakistan-occupied Gilgit-Baltistan (PoGB), voicing their frustrations over delayed retirement benefits and pensions that remain unpaid despite years of service. The demonstrators, a coalition of former staff who dedicated decades of their lives to the national broadcaster, gathered to demand immediate action from the government, shedding light on the financial hardships they currently face. Organised by a committed faction of people who have retired, the lively...

December 20, 2024
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19Dec

2024 is a record year for ETFs in Latin America, especially among pension funds

According to a report by ETFGI, this year will be historic for the global ETF sector. By the end of August, the industry reached a new all-time high of $13.99 billion in assets under management, surpassing the previous record of $13.61 billion. In the emerging markets of Latin America, the trend is similar, driven by increased liquidity in the region. This is particularly evident among the largest pension funds, whose managers have long used ETFs as one of their preferred...

December 19, 2024
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