News Archives - Page 358 of 955 - Pension Policy International

27DecDecember 27, 2022

Germany. Companies Introduce Social Partner Model For Pensions

At first glance, the interest is extremely low: Of the 1,900 companies that the Federal Chemical Employers’ Association (BAVC) wrote to, only 50 had decided in favor of the new “Nahles pension” by the beginning of December. A rate of 2.6 percent. Nevertheless, Klaus-Peter Stiller, general manager of the association, is anything but disappointed. After all, the companies currently have other concerns in the energy crisis than adjusting their pension systems. “In this respect, the 50 companies that have...

December 27, 2022

NewsGermany, Occupational Pensions, Pension design

26DecDecember 26, 2022

DWP confirms 2023 State Pension 10.1% rise with some eligible for more than £815 a month

State Pension pay rates are set to increase in the new year. Chancellor Jeremy Hunt's Autumn Statement protected the Triple Lock Rule once again. Anyone who receives Basic and New State Pension payments should expect to see their monthly income increase from April 2023. For the 12.5 million older people across the UK claiming the pension amount, this means an increase of 10.1% from spring next year, North Wales Live reports.. There are 10.1 million people currently receiving Basic State Pension...

December 26, 2022

NewsState Pensions, UK

26DecDecember 26, 2022

Equity Gains Boost U.S. Public Pension Funding Status, Says Milliman

Strong market gains during October and November helped the estimated funded levels of the 100 largest public pension plans in the U.S. rebound to 74.7%, as of Nov. 30, from 71.6% a month earlier, according to consulting firm Milliman’s public pension funding index. It was a sharp turnaround from September, when poor market performance erased more than five percentage points from the funded ratio during the month alone. The aggregate asset value of the pension funds increased by approximately $158...

December 26, 2022

NewsFunding, US

26DecDecember 26, 2022

New World Bank Financing Will Expand and Strengthen Egypt’s Flagship Social Protection Program

The World Bank announced yesterday US$500 million in financing to expand and strengthen Egypt’s flagship Social Safety Net Program, also known as Takaful and Karama. The new financing marks a third phase of collaboration between the World Bank and the Government of Egypt to support the establishment of an efficient and effective cash transfer program and to introduce beneficiaries to interventions that generate sustainable incomes and help people to graduate out of poverty. Investing in human capital is integral to...

December 26, 2022

NewsEgypt, Social Protection

23DecDecember 23, 2022

Government Exempt Worker’s Pensions From Domestic Debt Exchange Program After Given A 7- Day Ultimatum

Government has succumbed to pressure from Organised Labour by exempting workers’ pensions from the recently launched Domestic Debt Exchange Programme. After a crunch meeting with Organised Labour on Thursday, December 22, the Minister of Finance, Ken Ofori-Atta, gave utmost assurances that pensions of all workers will be exempt from the Programme. The Programme, launched on Monday, December 5 and expected to take off next month, was announced as part of austerity measures to save the economy from collapse. By the Programme, government...

December 23, 2022

NewsGhana, Pension Management

23DecDecember 23, 2022

ILO warns: 34.5% of over 65s have no income in Latin America and the Caribbean

The International Labor Organization (ILO) on Thursday warned about elderly people's issues in Latin America regarding labor income and pensions. The report indicates that 34.5 percent of people over 65 years of age in that region do not receive wages or pensions, a higher percentage than before the Covid-19 pandemic, when this indicator was at 31.9 percent. This is one of the main conclusions of the report on social protection in Latin America and the Caribbean, drafted by ILO. According to the...

December 23, 2022

NewsAging, Coverage, Income, Latin America

23DecDecember 23, 2022

Slovakia: Pension reforms — auto-enrolment and parental pensions

Employer Action Code: Act The government has approved amendments to the Social Insurance Law, with the primary aims of 1) increasing retirement savings in employees’ social security defined contribution (DC) privately managed accounts (i.e., the “second pillar”) through automatic enrolment and the use of default life cycle index (rather than bond-based guaranteed) investment funds, and 2) improving the sustainability of the social security defined benefit (DB) retirement program (i.e., the “first pillar”). The changes are effective January 1, 2023. Key details Changes...

December 23, 2022

NewsPension Reform, Slovakia

23DecDecember 23, 2022

Finnish pension fund manager Varma to monitor human rights impact

Varma Mutual Pension Insurance Co., Helsinki, said Thursday that it will incorporate human rights as sustainability risks in its investments, operations and supply chain. Varma, which managed €56.4 billion ($54.9 billion) at the end of September, said in a news release that after assessing the human rights risks and impacts of its operations, it established principles for human rights and a commitment to address violations that could impact investments. "Human rights have become increasingly important in the past few years. Russia's...

December 23, 2022

NewsESG, Finland

23DecDecember 23, 2022

Gen Zers Look Forward to Early Retirement

What You Need to Know Results from a study show that members of Generation Z expect to retire early. The study also found that most Gen Zers have had or expect to have a successful career. Despite this, 44% of Gen Z respondents described their mental health as weak or very weak. Members of Generation Z, which includes the youngest adults in the U.S., have significantly improved their financial well-being and expect to retire before they reach 60, way ahead of their older...

December 23, 2022

NewsGen Z, Retirement Age

22DecDecember 22, 2022

How schemes can enjoy the blooming of biodiversity bonds

Analysis: With the world’s nations reaching a historic agreement to preserve global biodiversity at COP15 in Montreal, attention is inevitably turning to how businesses can uphold the commitment to protect 30 per cent of the planet’s land and sea. Financing biodiversity projects has long been a sticking point for institutions. The International Finance Corporation describes a “lack of guidance in the market on criteria for projects eligible for this kind of financing”, resulting in a “gap” between investors’ ambitions and...

December 22, 2022

NewsESG, Investment

December 2022