News Archives - Page 350 of 955 - Pension Policy International

24JanJanuary 24, 2023

U.K. pension plan sponsors might need to contribute $42 billion more – analysis

New funding rules for U.K. defined benefit plans being developed by The Pensions Regulator could potentially mean plan sponsors will need to make up to £34 billion ($42 billion) in additional contributions, according to an analysis published Monday by investment consultant Lane Clark & Peacock. The forthcoming funding rules call for pension funds to be funded on a "low dependency" basis once they are "significantly mature," without further specifics. It also calls on trustees to expect sponsors to pay down...

January 24, 2023

NewsFunding, Regulation, UK

23JanJanuary 23, 2023

Japan. Pension Benefits to Rise for 1st Time in 3 years

Public pension benefits will rise for the first time in three years in fiscal 2023, although at a slower pace than a major inflation rate, the Health, Labor and Welfare ministry said Friday. Benefit increases, set at 1.9% for pensioners aged 68 or over, will be limited because the ministry will activate what it calls the macroeconomic slide mechanism to curb benefit payments for the first time in three years. Japan revises the amounts of pension benefits every year to take...

January 23, 2023

NewsAdequacy, Inflation, Japan

23JanJanuary 23, 2023

Switzerland. Thousands of retired seniors falling into poverty

In Switzerland a huge wealth gap exists among retirees. While most senior citizens can comfortably make ends meet, one in five is living either below or close to the poverty line. Some 50,000 pensioners have no financial cushion to offset their low income. Bernard and Pierrette Apothéloz are both in their early 70s. With their meagre pensions and no savings or additional benefits, the couple often struggle to pay their bills. Because of their financial situation, they are unable to...

January 23, 2023

NewsChina, Coverage, Public Pensions

23JanJanuary 23, 2023

China: Unified pension management system ensures more equity

More Chinese people have access to coverage provided by the country's government-run basic old-age insurance, since the adoption of unified management of insurance funds, according to the authorities. China's basic old-age insurance covered 1.05bn people as of the end of 2022, 24.3m more than a year earlier, reported the Xinhua News Agency quoting data from the Ministry of Human Resources and Social Security. The country formally implemented the national unified management of basic old-age insurance funds for enterprise employees in January...

January 23, 2023

NewsChina, Coverage, Public Pensions

23JanJanuary 23, 2023

US. 32% of Savers Tapped Their Retirement Accounts Last Year to Cope With Inflation. That’s a Problem

Inflation surged in 2022, burdening consumers of all ages. If you took a retirement plan withdrawal to cope with inflation, it's imperative that you try to compensate this year. Motley Fool Issues Rare “All In” Buy Alert Higher living costs forced some people to resort to drastic measures. Lawmakers were generous with stimulus aid in 2021, and that helped many Americans cope with the pandemic and subsequent economic crisis. But a troubling thing happened as a result. Consumers suddenly found themselves flush with cash...

January 23, 2023

NewsPension desing, US, Withdrawals

20JanJanuary 20, 2023

More than 1m march in France amid strikes over plan to raise retirement age

More than 1 million people have taken part in demonstrations across France as transport, schools and refineries were hit by strikes in protest at Emmanuel Macron’s unpopular plans to raise the retirement age by two years to 64. The interior ministry said 1.12 million people protested nationwide on Thursday, with 80,000 taking part in the biggest rally in Paris. Trade unions said the figure was even higher. Police made arrests on the edges of the march in central Paris amid clashes...

January 20, 2023

NewsFrance, Pension Reform

20JanJanuary 20, 2023

China’s going to have to figure out how to care for 400 million elderly people by 2040

China reached a pivotal moment this year, announcing on Tuesday that its population had, for the first time since the 1960s, shrunk. It's not just fewer people that China has to contend with. The country's planners have another mammoth challenge ahead: a rapidly aging population. The World Health Organization expects China to have more than 400 million people over the age of 60 by 2040, up from 254 million in 2019. That's nearly a third of its total population, compared to...

January 20, 2023

NewsAging, China, Healthcare

20JanJanuary 20, 2023

‘Voluntary action alone isn’t going to cut it’: watchdog group calls for climate reporting requirements for Canada’s $4-trillion pension fund industry

After highlighting “a huge disparity” among Canada’s largest pension funds when it comes to reporting and action on climate priorities, a watchdog group is calling for broad-based regulation for the financial sector that would “level the playing field” and require Canada’s giant pension funds to produce credible climate plans, and be held accountable for meeting them. Adam Scott, executive director of the climate-focused charitable initiative Shift, told The Hill Times that his team’s analysis shows some Canadian funds are “making...

January 20, 2023

NewsCanada, ESG

20JanJanuary 20, 2023

Solving the aging population care crisis via the metaverse

Currently, there are over 1.2 million residents in United States nursing homes, and over 800,000 residents of assisted living facilities. As the Baby Boomer population ages, these numbers are projected to skyrocket—by 2050, up to 30 million people in the Americas will require long-term care services. In other words, there are going to be a lot of people in need of quality care. Lubin graduate students Chuk Ezuma ’23 and Rikin Gajjar ’23 spent much of the fall semester thinking about...

January 20, 2023

NewsAging, Healthcare, Technology

20JanJanuary 20, 2023

Pension plan sponsors say their plans are risk averse (but their designs say otherwise)

A new survey from Vanguard finds that sponsors of pension plans say they value lower-risk plans, but don’t always succeed in avoiding risk in their plan design. The report suggests that sponsors of plans may have trouble understanding the level of risk they are taking. The survey also found a continuation of the trend showing that pension plan sponsors are continuing to adjust their plans in ways designed to reduce liability and risk. The new report is the fifth in...

January 20, 2023

NewsPension design, Risk

January 2023