News Archives - Page 291 of 954 - Pension Policy International

11AugAugust 11, 2023

Yonder partners with Smart Pensions to make workplace pensions simpler for international employers

Yonder, the Irish fintech automating health insurance and retirement benefits, has partnered with Smart Pensions to bridge the gap between international employers and their remote workers. Using both companies’ APIs, the partnership will provide international employers with a digital way to set up and manage workplace pensions for UK-based employees that is compliant with UK auto-enrolment law. So regardless of where a company is based, and whether it has a UK bank account, it will be able to give their UK-based...

August 11, 2023

NewsPension

11AugAugust 11, 2023

Big Changes to Retirement Plans Including 401K Catch-up Contributions

The SECURE Act 2.0 brings a slate of changes to retirement accounts and the way workers save for retirement. A summary of the Act can be found on the US Senate Finance Committee website. Among the many changes are the following highlights: Mandatory Automatic Enrollment – Beginning after December 31, 2024, most employers will be required to automatically enroll employees in new 401(k) and 403(b) plans unless the employees opt out. Required Minimum Distribution Changes – Currently, plan participants must...

August 11, 2023

NewsPension

10AugAugust 10, 2023

German government moves to boost first pillar equity pension fund to €200bn

The German government is planning to beef up funds for equity investments in the first pillar to €200bn until 2025, according to a report published by Handelsblatt newspaper. The government will contribute to the first pillar equity fund, dubbed Generationenkapital or generational capital, which will turn the purely pay-as-you system into a partially capital-funded system, with €12bn instead of €10bn from 2024. The sum will increase by 3% in each of the following years, to reach a total amount of €200bn by...

August 10, 2023

NewsGermany

10AugAugust 10, 2023

SSNIT retrieves GHC132m unpaid contributions

Last year, the Trust recovered GHC212 million of unpaid contributions through a similar process following the filing of 7,616 cases at the court. This came to light during this year’s Employers Breakfast Meeting organised by SSNIT yesterday in Accra. The event, which brought together various stakeholders including employers and the National Pensions Regulatory Authority (NPRA), was on the theme “Providing pension for all, the role of the Employer.” Director-General of SSNIT, Dr John Ofori-Tenkorang, said, currently, more than 1.9 million active contributors...

August 10, 2023

Newsunpaid

10AugAugust 10, 2023

How To Reach A $2 Million Retirement Savings Goal

Retirement marks the time to savor the rewards of your hard work and cherish the freedom to pursue your passions. However, a comfortable retirement requires careful planning and sufficient savings to support your desired lifestyle. Many aspire to achieve a $2 million retirement fund, but is this feasible in America? Understanding Your Retirement Savings Goal Before diving into your $2 million retirement quest, it's vital to comprehend how much you'll need to save. Your retirement savings goal hinges on various factors,...

August 10, 2023

NewsRetirement

10AugAugust 10, 2023

Retired teachers will get pensions within 6 months, CS Ezekiel Machogu tells senators

It will now take just less than six months to process pensions for retired teachers, Education Cabinet Secretary Ezekiel Machogu has announced. Appearing before the Senate on August 9, 2023, Mr Machogu said his ministry has directed the Teachers Service Commission (TSC) to ensure that, once a teacher retires, his or her file is immediately processed and submitted to the Pensions Department at the National Treasury. Thereafter, he explained, the processing of the payment of the dues should take between four...

August 10, 2023

NewsPension

10AugAugust 10, 2023

Universal Pension: Deposit Tk50 lakh over 42 years, get up to Tk6cr back

In addition to ensuring social security and reducing the number of beneficiaries in the social safety programme, the scheme will be of significant advantages to contributors. By enrolling in the scheme at 18 years old, private sector employees or expatriates can receive benefits 12 times greater than their 42 years of contribution, documents from the Finance Ministry reveal. For example, if an expatriate starts contributing Tk10,000 per month under the Probas Scheme, his total contributions to the government would amount to...

August 10, 2023

NewsPension

09AugAugust 9, 2023

Spotlight: New York City Pension Fund Returns for FY 2023

The Office of the New York City Comptroller serves as investment advisor, custodian and trustee for the five New York City public pension funds (collectively referred to as the New York City Retirement Systems, or NYCRS). Through the efforts of the Bureau of Asset Management (BAM), the Comptroller’s office works with the trustees of the five systems to manage over $250 billion in assets, which represents the retirement security that the City of New York has promised to more...

August 9, 2023

NewsPension, US

09AugAugust 9, 2023

Hong Kong retirees facing income shortfall of US$641 a month on average, survey shows

Retirees in Hong Kong face a shortfall of HK$5,000 (US$641) on average in their monthly incomes, according to a survey released on Tuesday. The post-retirement incomes of Hongkongers, who usually retire at the age of 62, stand at about HK$12,000 per month on average, according to the survey conducted by BOC Group Life Assurance and Golden Age Foundation. This income was derived mainly from investments and was 60 per cent below their average income before retirement of about HK$30,000, the...

August 9, 2023

NewsHong Kong

09AugAugust 9, 2023

Por “High court: member ‘interests’ include future service benefits”

The High Court has ruled that a scheme rule restricting amendments that will affect members’ ‘interests’ applies to future service benefits, as well as benefits already accrued: BBC v BBC Pension Trust Limited. The amendment power in the BBC Pension Scheme is subject to a restriction that no alteration may ‘take effect as regards the Active Members whose interests are certified by the Actuary to be affected thereby’ unless certain conditions are complied with (designed to ensure that the relevant...

August 9, 2023

NewsPension, UK

August 2023