News Archives - Page 345 of 982 - Pension Policy International

17MayMay 17, 2023

Hong Kong’s ageing population time bomb to leave a shortage of 60,000 residences for the elderly by 2032: JLL

Hong Kong will face a shortage of over 60,000 residences for the elderly by 2032 as the city’s population rapidly ages, before eventually becoming the world’s oldest society by 2050, according to JLL. The city’s Kwun Tong, Yuen Long, Sha Tin and Eastern district are among the areas with the most serious ageing problem, the property consultancy said in a report on Tuesday. In Kwun Tong, only one in 41 elderly people will find a place in elderly homes, it...

May 17, 2023

NewsAging, Hong Kong

16MayMay 16, 2023

What the debt ceiling standoff could mean for your retirement plans

President Biden is expected to meet with congressional leaders on Tuesday about the debt ceiling, with just about two weeks until the country could run out of money to pay its bills. Economists and administration officials have warned that a potential default on the national debt — for the first in U.S. history — would amount to financial disaster, wreaking havoc on the domestic economy and rattling global markets, too. "Our economy would fall into a significant recession," Biden told reporters...

May 16, 2023

NewsPolitical economy, US

16MayMay 16, 2023

UK Pensions Regulator refreshes its guidance for trustees on being prepared for sponsor distress

The UK Pensions Regulator has updated and re-issued its guidance for trustees of defined benefit pension schemes, urging them to be prepared for signs of sponsor distress. If trustees are ready to take protective action at an early stage, more options will potentially be available to them, which should maximise their ability to protect members’ interests. The guidance was first issued during the Covid-19 pandemic in November 2020, and we previously reported on it here. The revised version appropriately moves...

May 16, 2023

NewsPension Management, Regulation, UK

16MayMay 16, 2023

Macron promises €2 billion in tax cuts for French middle class

As part of his continued attempt to move past his government’s contentious pensions reform, French President Emmanuel Macron has announced two billion euros of tax cuts for the middle class before the end of his term. In a televised interview Monday evening, Macron said he wants to “concentrate” two billion euros of tax cuts on people “who work hard, who want to raise their children well and who today, because the cost of living has increased… have trouble making ends...

May 16, 2023

NewsFrance, Pension Reform, Taxation

16MayMay 16, 2023

Loneliness can impact longevity & quality of life, claims study

Vivek Murthy, the US surgeon general, recently warned that "being socially disconnected" has a similar effect on mortality as smoking up to 15 cigarettes a day. This statement was widely reported in the media, including in the Washington Post, the Times and the Daily Mail. But where does this "15 cigarettes a day" figure come from? Dr Murthy is referring to a study published in 2010 that explored social relationships and mortality rates. The researchers combined the data from 148...

May 16, 2023

NewsAging, Health, Longevity

15MayMay 15, 2023

US. Debt-ceiling apocalypse could offer opportunities as well, observers say

The ongoing debt-ceiling standoff between Democrats and Republicans could result in buying opportunities for institutional investors as long as widespread faith that the two sides will eventually do whatever is necessary to avoid a U.S. debt default proves well-founded. If not, all bets are off. For now, even as the "X-date" where the government won't be able to cover all of its Treasury bonds and bills coming due approaches— as early as June by some estimates — most market participants say...

May 15, 2023

NewsPolitical economy, US

15MayMay 15, 2023

Philippines. Millions sans pension a ‘ticking time bomb’

The massive protests over the highly unpopular legislation that France passed, raising its retirement age from 62 to 64 to save its pension system, may be a window to a similar future in the Philippines, with its own “ticking time bomb” in its pension scheme. University of the Philippines School of Labor and Industrial Relations (UP-SOLAIR) professor Emily Christi A. Cabegin warned of this scenario, where the government may have to spend millions of pesos to take care of thousands...

May 15, 2023

NewsCoverage, Philippines

15MayMay 15, 2023

Germany. Retirement Workers: The Solution To The Skills Shortage?

Kurt Marx repairs and maintains heating systems. He started as an apprentice almost 50 years ago. Actually, he could soon retire free of deductions. However, the service technician plans to continue working. Not for financial reasons: he likes the daily challenge of finding technical errors, he says. Above all, Marx wants to keep in touch with people. And he knows how difficult it is for his boss to find staff. “I’m probably not the exception, after all, specialists are...

May 15, 2023

NewsGermany, Labor Market, Retirement Age

12MayMay 12, 2023

Canada. British Columbia Investment Management hits pause on China deals

British Columbia's public pension manager has paused direct investments in China, the latest institutional investor to rethink its exposure to the world's second-largest economy due to geopolitical risks. A senior executive from British Columbia Investment Management revealed the policy during testimony this week to a Canadian parliamentary committee. Ontario Teachers' Pension Plan has made a similar move, suspending new investments in private assets in China, Bloomberg reported in January. BCI still has Chinese investments, mostly through public markets and index funds,...

May 12, 2023

NewsCanada, China, Investment, Political economy

12MayMay 12, 2023

South Africa. Distribution of military veterans’ pensions gains momentum

The Defence and Military Veterans Department says the pension payout for military veterans, who do not have any income, is going full speed ahead. “We have noted the confusion and uncertainty created by the lack of clarity on the part of the Department of Military Veterans officials in their interaction with Parliament’s oversight committee on Defence and Military Veterans,” the department said on Thursday. However, the department clarified that the distribution of the pension is being implemented through the Government Pension...

May 12, 2023

NewsPension Payout, South Africa, State Pensions

May 2023