News Archives - Page 271 of 954 - Pension Policy International

16OctOctober 16, 2023

Ghana. Total membership of SSNIT Scheme is 1.8 million — Minister

As of March 2023, the total membership of the Social Security and National Insurance Trust (SSNIT) Scheme was estimated at 1.8 million, Mr Ignatius Baffour Awuah, the Minister of Employment, Labour Relations and Pensions, has disclosed. This, he said means that about 8.1 million of the estimated Ghana’s working population of 9.9 million might not have any form of social security cover, which shows that leveraging digitalisation to extend social security coverage was long overdue. “The overwhelming importance of digitalisation today...

October 16, 2023

NewsCoverage, Ghana, Operations

16OctOctober 16, 2023

To counter its aging population, Vermont offers $5,000 for recent graduates to stay on

Vermont has joined the growing list of states hoping to retain young people by paying their student loans. The program, launched this year, will give recent graduates of Vermont colleges up to $5,000 if they stay and work in the state for two years. Lawmakers hope the initiative will keep more young people in Vermont. From The Hechinger Report in Vermont Public, Liam Elder-Connors reports. LIAM ELDER-CONNORS, BYLINE: A couple of months ago, Mohamud Diini was ready to leave Vermont....

October 16, 2023

NewsAging, Canada, Labor Market

13OctOctober 13, 2023

As the U.S. birth rate falls, immigration reform may be ‘the answer hiding in plain sight,’ analyst says

As the U.S. fertility rate continues to fall, there are growing concerns about the long-term economic impact: A smaller population means less tax revenue, which could reduce funding for programs such as Social Security and Medicare. But immigration policy reform could be one solution, some experts say. The U.S. birth rate fell slightly in 2022 compared with 2021, with roughly 3.7 million babies born nationwide, and the birth rate still hasn’t recovered to pre-pandemic levels, according to an initial analysis from the Centers for Disease Control...

October 13, 2023

NewsAging, Labor Market, UK

13OctOctober 13, 2023

UK. Govt urged to using ‘more timely’ data for state pension triple lock

The government should consider using more timely inflation and earnings growth data as part of long-term plans for the state pension triple lock, Aegon has said. The September inflation figure that could be used for the state pension increase in April will be announced next week (18 October), although it is expected to be below the 8.5 per cent earnings growth figure for May-July, which was published in August. While Aegon acknowledged that state pension rises need to be confirmed early...

October 13, 2023

NewsInflation, Public Pensions, UK

13OctOctober 13, 2023

Large parts of Asia are getting old before they get rich

A bulge in a country’s working-age population is a blessing. Lots of workers support relatively few children and retired people. So long as the labour market can absorb a surge of job-seekers, output per head will rise. That can boost savings and investment, leading to higher economic growth, more productivity gains and developmental lift-off. Yet for countries that fail to seize this opportunity, the results can be grim—as many developing countries may soon discover. Consider Thailand. It is rapidly greying....

October 13, 2023

NewsAging, Asia, savings

12OctOctober 12, 2023

U.S. Public Pension Funds Show Moderate Improvement in Q3

Today, Equable Institute released a mid-year update to its State of Pensions 2023 report. The analysis finds the aggregate funded ratio for U.S. state and local retirement systems are on track to improve from 75.0% in 2022 to 78.8% in 2023, based on data available through September 30th, 2023. Equable Institute estimates that unfunded liabilities will total $1.39 trillion for the 2023 fiscal year, compared to $1.59 trillion at the end of 2022. As more data becomes available about fiscal year 2023,...

October 12, 2023

NewsPublic Pensions, UK

12OctOctober 12, 2023

Nigeria. Informal sector workers demand social protection

The Federation of Informal Workers of Nigeria has canvassed for social protection for informal workers, noting that over 90 per cent of Nigerians are engaged in the sector. The call was made by delegates at the 2nd Delegates Conference of the Federation of Informal Workers’ Organisations of Nigeria held recently in Lagos. The union argued that government policies have led to the collapse of many industries in the formal sector over the years. This has led to rapid expansion of the...

October 12, 2023

NewsCoverage, Informal Sector, Nigeria, Social Protection

12OctOctober 12, 2023

Pension deal agreed for UK academics but divisions over pay remain unsolved

University staff will have their pension benefits restored by next April under an agreement reached between Universities UK (UUK) and the University and College Union (UCU), which represents over 120,000 researchers and teaching staff. UCU members have taken 69 days of strike action since 2018 to defend their pension benefits. But the union has vowed to keep the pressure on as it seeks concessions on pay and job security. UCU has balloted its members and will know by the...

October 12, 2023

NewsPublic Pensions, State Pensions, UK

12OctOctober 12, 2023

Don’t worry about global population collapse

The world’s massive human population is leveling off. Most projections show we’ll hit peak humanity in the 21st century, as people choose to have smaller families and women gain power over their own reproduction. This is great news for the future of our species. And yet alarms are sounding. While environmentalists have long warned of a planet with too many people, now some economists are warning of a future with too few. For example, economist Dean Spears from the University of...

October 12, 2023

NewsAging, Labor Market, Longevity

11OctOctober 11, 2023

UK. TfL pension fund on track to reduce carbon emissions by 2030

The Transport for London (TfL) pension fund estimates that it will reduce its carbon emissions by 56% by 2030, according to its latest Net Zero Carbon Journey update. So far, the fund has reduced its absolute carbon emissions by 30% since 2016, despite the fund being 40% larger. The fund is also ahead of where it needs to be on its net-zero journey in its active public portfolio with a weighted average carbon intensity (WACI) reduction 18% ahead of target and...

October 11, 2023

NewsESG, Investment, UK

October 2023