News Archives - Page 378 of 956 - Pension Policy International

25OctOctober 25, 2022

Swiss regulator expects underfunding for pension funds facing volatility

The Swiss occupational pension supervisory commission – OAK BV – expects that a number of pension funds will end up underfunded at the end of the year as a result of market volatility and negative returns. Some pension funds may decide to ultimately trigger restructuring measures, depending on the specific situation of the scheme. Funding ratios of Swiss pension schemes in fact continued to fall this year, from 103.4% at the end of June to 99.5% at the end of September,...

October 25, 2022

NewsInvestment, Regulation, Switzerland

24OctOctober 24, 2022

US. IRA Limits Are Rising in 2023. Here’s What Retirement Savers Need to Know.

You have an even greater opportunity to build yourself a strong nest egg. Building a nest egg is an important thing to do if you want to retire in a comfortable manner. Sure, you can tell yourself you'll just fall back on Social Security -- but doing so might lead to a serious income shortfall down the line. Now when it comes to saving for retirement, you have options. If your employer sponsors a 401(k) plan, it could pay to contribute....

October 24, 2022

NewsRegulations, savings, US

24OctOctober 24, 2022

UK. Inflation sparks a new era of pensions inequality

The generosity of public sector pensions was a compensation for low salaries. However, this gap is narrowing. The average worker in the private sector earned £622 a week in the year to August, according to an IDR analyst. The average public sector worker, excluding those who worked in finance, earned £593. Former public servants will also enjoy two layers of taxpayer-funded inflation protection next year, assuming the “triple lock” state pensions are maintained. The policy pledges to increase the state pension...

October 24, 2022

NewsInvestment, Regulation, UK

24OctOctober 24, 2022

The anxieties of growing old when you’re LGBTQ

Who would you call to bring you chicken soup? For many LGBTQ seniors who are alone, that’s no easy question. Who would bring you chicken soup if you were sick? For most people of a certain age, that’s easy — a spouse or an adult child would step up. For many LGBTQ people, however, it’s not a simple question at all. “Many [would] have to think really hard about this,” said Imani Woody, an academic and community advocate who retired from AARP...

October 24, 2022

NewsAging, Health, Retirement

24OctOctober 24, 2022

UK parliament panel probes defined benefit pension schemes over safeguards

A British parliament panel on Monday launched an inquiry into the defined benefit pension schemes with liability-driven investments (LDIs) to ascertain whether they have adequate regulation to protect pension funds' value. The work and pensions committee inquiry will examine the impact of the recent volatility in gilt yields and intervention by the Bank of England (BoE) as well as the role of the pensions regulator in monitoring the use of LDIs and whether these schemes have proper oversight arrangements in...

October 24, 2022

NewsInvestment, Regulation, UK

21OctOctober 21, 2022

Mercer index highlights challenges facing pensions

Withdrawals from pensions during the pandemic will have a long-term impact on the potential growth of retirement sums, according to Mercer. Pensions in Asia and globally have improvements to be made, particularly as pensions systems shift from a defined benefits to defined contributions scheme and withdrawals during the pandemic are likely to have long-term effects, Mercer representatives said. Several challenges stand in the way of ensuring the adequacy of retirement incomes, said Mathias Cormann, secretary general of the Organisation for Economic...

October 21, 2022

NewsCoverage, Informal Sector

21OctOctober 21, 2022

Nearly 70% Chinese elderly intend to return to workplace after retirement: report

A latest report shows that 68 percent of surveyed senior citizens in China intend to return to the workplace after retirement while 30 percent of the interviewees say they have economic pressure. Experts said it's a normal and beneficial phenomenon given the slow growth of pension in recent years and labor shortages in some industries. The survey report on the post-retirement employment of senior citizens released by Chinese recruitment website 51job.com on Monday reveals that 34.4 percent of elderly...

October 21, 2022

NewsAging, China, Labor Market

21OctOctober 21, 2022

Ghana. Public Sector Workers warn government not to touch pension funds in debt restructuring

The Forum for Public Sector Associations and Unions has asked the government not to apply a “haircut” to Tier 2 Pension Funds as part of a “probable” debt restructuring programme. The Forum said it had taken note of media reports suggesting that about 94 per cent of Tier 2 Pension contributions placed in government securities might be affected by the said debt restructuring agenda. At a press conference in Accra today, Thursday, October 20, 2022, Mr Isaac Bampoe Addo, Chairman of...

October 21, 2022

NewsGhana, Public Pensions

21OctOctober 21, 2022

Kenya. Pension-backed housing starts dimly amid calls for its overhaul

Access to affordable housing is a challenge to many public and private sector employees who retire without a home, despite having worked and saved towards a pension. One of the initiatives by the government to increase access to housing was by amending the Retirement Benefits Act (RBA) to allow pension funds to be used as collateral for the purchase of a home. The move was billed as a silver bullet in enabling civil servants and workers to own homes. And two years...

October 21, 2022

NewsKenya, savings

20OctOctober 20, 2022

Liz Truss commits to triple lock but then resigns as UK’s Prime Minister

The prime minister has resigned after 44 days in the role. In a statement outside 10 Downing Street today (October 20), Liz Truss said: “I came into office at a time of great economic and political instability…I cannot deliver the mandate.” Read also U.K. Pensions Doom Loop May Not Be Over Truss was told to quit by senior Tory members, according to the FT, the day after the home secretary, Suella Braverman, quit the government and used her resignation letter to issue...

October 20, 2022

NewsPublic Pensions, System sustainability, UK

October 2022