November 2024
13Nov

Australia. Government urged to transform Disability Support Pension after its ‘lacklustre’ response to Senate report

A coalition of disability and social services groups has called for further reform of the Disability Support Pension (DSP) and condemned the federal government for its official response to a Senate inquiry into the payment. In 2021, a months-long Senate inquiry into the purpose, intent and adequacy of the DSP received 134 submissions and held four public sessions. The inquiry reported early the following year while the Morrison government was still in power, and heard "overwhelming evidence" the DSP was inadequate and that...

November 13, 2024
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13Nov

Brazil’s aging population poses challenges, economists warn

By Marsílea Gombata Brazil is set to experience rapid demographic changes within the next 20 years, which could slow economic growth and increase expenditures on healthcare and pensions. However, these shifts are not being adequately considered in government decision-making, according to economists from the Fundação Getulio Vargas’s Brazilian Institute of Economics (Ibre-FGV). They caution that, from a budgetary standpoint, the government should exercise greater caution with projected spending in areas like education, given the anticipated decline in the population aged...

November 13, 2024
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12Nov

US. Why do workers yearn for defined-benefit pension plans?

A closer look at the Boeing negotiations only makes the question more puzzling Boeing Co. unionized workers recently voted to accept the aerospace company's third contract offer and end their strike. The agreement does not include reopening the Boeing (BA) defined-benefit pension plan, which was cited as the major reason that the union rejected the second offer. Even though the strike is over, I find the fact that reopening the pension plan played such a prominent role in the negotiations really...

November 12, 2024
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12Nov

APG, AIA Thailand turn climate risk into investment opportunity

Two major asset owners discuss how they are deploying capital across the region and targeting sustainable investments in forestry, infrastructure, and green energy. For the nearly $600 billion Dutch pension fund investor, sustainable investment isn't just about ticking boxes – it's about wielding their considerable investment capital to address real-world climate and biodiversity challenges while delivering strong returns, according to Eric van der Maarel, chief executive officer of APG Asset Management’s Singapore office. "Allocating to megatrends with clear sustainability goals is...

November 12, 2024
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12Nov

Nigeria. Micro Pension Subscribers To Get Free Health Insurance Cover

There are strong indications that Micro Pension Plan(MPP) subscribers in the country will soon get free health insurance cover as part of benefits of subscribing to the micro pension scheme. To this end, LEADERSHIP learnt that the National Pension Commission (PenCom) has had meetings with health insurance stakeholders, comprising the National Health Insurance Agency (NHIA) and some Health Management Organisations(HMOs) on the possibility of procuring this cover for subscribers of the scheme. Hence, the cost of the annual basic health cover...

November 12, 2024
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12Nov

Canadian sustainability investment standards to launch in December

The Canadian edition of an international set of sustainability investment disclosure standards will be officially released in December, according to the Canadian Sustainability Standards Board. The organization was tasked with creating a set of sustainability investment standards in Canada based on those created by the International Sustainability Standards Board. The two new disclosure metrics — CSDS 1 and CSDS 2 — will be voluntary and are designed to offer consistency, comparability and transparency to sustainability reporting for institutional investors to...

November 12, 2024
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11Nov

Gen X slip between DB and DC pension cracks

The tail-off in defined benefit (DB) pension provision around the millennium and a lack of compulsion around defined contribution (DC) saving until 2012 has had a lasting impact according to Standard Life’s Retirement Voice report. • Majority of Gen X (54%) are worried their finances won’t cover their retirement – compared to 31% among Baby Boomers • 45% Gen X expect their living standard to be worse in retirement compared to 29% of Millennials • Gen X most likely...

November 11, 2024
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11Nov

Cooperation sought to tackle aging

13 Asian nations to share experiences via ASEAN Plus Three framework China is seeking to intensify exchanges in policymaking and technologies with 12 other Asian nations to tackle the shared challenges of aging populations. The cooperation is to be primarily conducted within the existing ASEAN Plus Three framework, known as APT, Civil Affairs Minister Lu Zhiyuan told a forum in Beijing. The APT framework was established in the 1990s among China, Japan and South Korea — all currently grappling with low birth...

November 11, 2024
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11Nov

Portugal. Workers Take to Streets Demanding Urgent Salary and Pension Increases!

In Lisbon and Porto, national protests demand salary increases and better public services, with potential future actions depending on budget discussions. On November 9, workers in Lisbon and Porto will take to the streets demanding higher wages. The protests aim to address both public and private sector concerns, highlighting the need for better salaries and pensions. Are you curious about the impact of these demonstrations on Portugal‘s economy? What drives workers to protest for their rights? On November 9, demonstrations are...

November 11, 2024
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11Nov

South Africa. How CDC may revolutionise the pension industry

A look at how collective defined contribution schemes differ from DB and DC schemes and why SA’s pension industry should note the shift in the UK. The local pension industry seems poised to embrace the collective defined contribution (CDC) model in the future despite their complexities. New administration systems to accommodate these types of structures will have to be designed as well as new regulations to govern them. An employer and member education drive to explain how these...

November 11, 2024
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