News Archives - Page 348 of 955 - Pension Policy International

30JanJanuary 30, 2023

French PM says pension age hike ‘non-negotiable’ as strikes loom

Demonstrators hold flares during a procession against a pension reform in Paris, on January 26, 2023. France’s prime minister on Sunday ruled out backtracking on a plan to raise the retirement age as unions prepared for another day of mass protests and strikes against the contested reform. An increase in the minimum retirement age to 64 from the current 62 is part of a flagship reform package pushed by President Emmanuel Macron to ensure the future financing of France’s pensions system. After...

January 30, 2023

NewsFrance, Pension Reform, Retirement Age

30JanJanuary 30, 2023

Concern as millions with no savings in Kenya face old age poverty

About 13.9 million Kenyans have no form of retirement savings scheme, and the majority of them are in the informal sector. According to data from the Kenya National Bureau of Statistics (KNBS), there were about 17.4 million people in the formal and informal sectors as of the year 2020.“The labour market is skewed towards informal employment at 83 per cent. This is a time bomb and indicating that most Kenyans will retire poor,” the report notes. The report was presented during...

January 30, 2023

NewsCoverage, Income, Kenya

27JanJanuary 27, 2023

South Korea pension fund will deplete faster than expected, report says

South Korea's huge national pension fund is set to see its pool of money depleted by 2055, earlier than expected, because of a shrinking population amid low economic growth, an official estimate showed on Friday. A government panel commissioned for the estimate, made every five years, said in a report that the National Pension Service (NPS) would see its fund depleted two years earlier than 2018 estimate predicted. The NPS had 915 trillion won ($743.13 billion) of funds as of the...

January 27, 2023

NewsAging, Funding, South Korea

27JanJanuary 27, 2023

Pensions Benefit More than Retirees, Says Report

Pensions obviously benefit retirees, their dependents and their beneficiaries. But while it may be less obvious, pensions also benefit society writ large — to the tune of trillions, with a T. The National Institute on Retirement Security (NIRS) every two years updates its Pensionomics analysis that measures the economic “ripple effect” of payments from defined benefit plans. In “Pensionomics 2023: Measuring the Economic Impact of DB Pension Expenditures,” the NIRS quantifies the broader benefits of DB plans; namely, the economic...

January 27, 2023

NewsSocial Protection, System Characterization, US

27JanJanuary 27, 2023

Migration could prevent a looming population crisis. But there are catches

To developmental economist Lant Pritchett, "population decline" is a mild way to describe what could be a global demographic crisis. "The reaction is often 'ho-hum' as the rates [of population decline] are slow and hence the issue seems small and in the future," he told NPR in an email. But the problem is not small, he said, and falling birth rates could upend economies. Last week, China reported population decline for the first time in more than 60 years, raising questions about...

January 27, 2023

NewsAging, Labor Market

27JanJanuary 27, 2023

US. Commissioner Peirce calls for SEC rule on cryptocurrency

Commission the authority to regulate the trading of digital commodities. If the SEC did pursue rule-making for digital assets, Ms. Peirce noted, "we would have to admit that we likely need more, or at least more clearly delineated, statutory authority to regulate certain crypto tokens and to require crypto trading platforms to register with us. And Congress might decide to give that authority to someone else." However, she argued that the SEC could "do the job well," specifically when it comes...

January 27, 2023

NewsInvestement, Regulation, US

26JanJanuary 26, 2023

US. Cryptocurrency Was Sold To State And Local Pensions As ESG

Senator Katie Muth, a Board Member for the $40 billion Pennsylvania State Employees’ Retirement System (PSERS) will never forget the first meeting of the pension board she attended and the ESG presentation she heard which included cryptocurrency as a solution for the un-banked in African countries. “I was really looking forward to the ESG presentation but was very confused as to how blackbox fake currency could improve the lives of people suffering from economic hardship on the continent. The...

January 26, 2023

NewsCryptocurrency, ESG, Investment, Pension Management, US

26JanJanuary 26, 2023

U.K. Sustainability rules could set ‘a high bar,’ but cloud definitions

Although upcoming rules on sustainable investment product labeling and disclosure could put the U.K. ahead of Europein combating greenwashing, they may not makes things clearer for institutional investors, based on reactions submitted to the Financial Conduct Authority. On Wednesday, the last day for commenting on the FCA's Sustainability Disclosure Requirements and investment labels proposed in October, financial groups and experts generally praised the regulator's approach as setting a high bar for the labeling of funds marketed as green and disclosure...

January 26, 2023

NewsInvestment, Regulation, Sustainability, UK

26JanJanuary 26, 2023

Ghana. SSNIT to launch informal sector inclusive campaign

The Social Security and National Insurance Trust (SSNIT) intends to launch a campaign to expand its coverage to include self-employed individuals. In an interview with KMJ on Prime Morning on Wednesday, the Public Affairs Manager of the institution, Charles Akwesi Garshong, revealed that every individual in the country is entitled to a pension. However, SSNIT is unable to capture everyone due to the low level of interest of people in the scheme. After negotiating with private sector stakeholders for the past years,...

January 26, 2023

NewsGhana, Informal Sector

26JanJanuary 26, 2023

China. ‘Silver’ economy grows with aging population

After saying goodbye to her grandchild at the school gates, Hu Chunmei started to think of ways to pass the day. Hu migrated from her home village in Hubei province to Beijing to help her daughter with child-rearing about eight years ago. Since her granddaughter started school in August, she knew she had to adjust to a new routine. "It's much harder than I thought. I tried guangchangwu — a style of dancing as a group in public — with friends...

January 26, 2023

NewsAging, China

January 2023