News Archives - Page 405 of 957 - Pension Policy International

27JulJuly 27, 2022

UK. Thousands of gig economy workers in line for improved labor conditions

While not a change in the law, business minister Jane Hunt said the guidance was “tidying up the rules” to help workers find out if they are being treated fairly by their workplace. It follows the landmark Uber Supreme Court judgment in February last year, which held that individuals in the gig economy qualify as workers. This entitles them to core employment protections including earning at least the National Minimum Wage as well as being given paid holiday leave and a...

July 27, 2022

News2022, Informal Sector, Labor Market, Regulation, UK

27JulJuly 27, 2022

US. Gen Z is stashing away 14% of income for retirement — more than older generations, study shows

Young adults may be hearing the save-for-retirement drumbeat loud and clear, a new study suggests. Generation Z workers — defined in the study as those ages 18 to 25 — are socking away, on average, 14% of income for their golden years, according to new research from BlackRock. That compares with 12% for their older counterparts: millennials (ages 26-42), Gen Xers (ages 43-55) and baby boomers (ages 56 to 75). At the same time, the total share of Americans who think...

July 27, 2022

News2022, Gen Z, Saving, US

27JulJuly 27, 2022

It’s good more funds are looking to become environmentally friendly, but this could lead to greenwashing

There have been a large number of funds rebranding recently to include the phrase sustainable or ESG in their name, which raises suspicions about the potential for greenwashing – not the kind of recycling that climate crisis campaigners had in mind. Greenwashing is used to describe the way funds may claim “green’” credentials to improve their environmental, social and governance appeal to investors. By adding the phrase ESG to an existing funds it’s a bit like a company creating a huge...

July 27, 2022

News2022, ESG, Investment

27JulJuly 27, 2022

UK. Pension savers prioritise returns over ‘investment big bang’

Less than a fifth of pension savers think that investing their pensions in companies or assets that would benefit their local area should be prioritised, research has revealed. The findings from the Centre for Progressive Policy, published on July 25, jars with the government’s push to channel pension fund money into domestic infrastructure. Last year, prime minister Boris Johnson and then-chancellor Rishi Sunak published a letter calling for an “investment big bang”, making comparisons with pension fund investment in Australia and...

July 27, 2022

News2022, Investment, savings, UK

26JulJuly 26, 2022

US. ‘True Cost of Aging’ index shows many seniors can’t afford basic necessities

Each month, Seeley, a retired teacher, gets $925 from Social Security and a $287 disbursement from an individual retirement account. To make ends meet, she’s taken out a reverse mortgage on her Portland, Maine, home that yields $400 monthly. So far, Seeley has been able to live on this income—about $19,300 a year—by carefully monitoring her spending and drawing on limited savings. But should her excellent health worsen or she need assistance at home, Seeley doesn’t know how she’d pay...

July 26, 2022

News2022, Gender Gap, Income, US

26JulJuly 26, 2022

German government invests pension assets in oil, gas firms despite ESG index switch

The German government continues to invest public pension and social security assets in oil, coal and gas companies on the equity market, despite announcing that it would switch to an ESG index by the end of the year. According to a report by investigative documentary series Panorama, the German government invests a total of €573.59m in oil, gas and coal companies on the equity market to finance the pensions of civil servants. The government has confirmed that it has invested more...

July 26, 2022

News2022, ESG, Germany, Investment

26JulJuly 26, 2022

Shifting Our Aging Society From A Burden To An Asset

Each year the World Economic Forum publishes its Global Risks Report, which aims to outline the biggest threats facing society in the year ahead. The 2022 edition features many common sights, including climate action failure, extreme weather, and biodiversity loss. Such catastrophic events often succumb to the so-called availability heuristic, whereby we're naturally drawn to the things we're familiar with. In the case of the kind of threats posed in the Global Risks report, these are all risks that...

July 26, 2022

News2022, Aging, Labor Market

26JulJuly 26, 2022

US. Milliman: Pension risk transfer premiums increase slightly in June

Estimated average pension risk transfer premiums rose slightly in June, but the average rate among the most competitive bidding processes fell by 30 basis points, a study by Milliman showed. The estimated buyout cost as a percentage of accounting liabilities, or accumulated benefit obligations, was 103% as of June 30, up from 102.5% as of May 1, according to the Milliman Pension Buyout index. However, the average of the most competitive annuity purchase rates fell by 30 basis points to 98.3%...

July 26, 2022

News2022, Pension Management, Risk, US

25JulJuly 25, 2022

This Is the Average Retirement Age in the U.S. — and Why It’s a Problem

Americans may be retiring too early for their own good. Many people aim to retire in their mid- to late 60s. But the average retirement age in the U.S. is considerably younger than that. According to recent Gallup data, the average reported retirement age is 61. Now on the one hand, that's up from age 57 back in 1991. But it's also a pretty young age to retire at. And those who go that route could end up struggling financially because...

July 25, 2022

News2022, Pension design, Retirement Age, US

25JulJuly 25, 2022

Italy. Pensions at the center of the electoral campaign, here are the parties’ proposals

The issue of pensions, like every electoral round, has forcefully entered the center of the campaign for the vote on 25 September. Silvio Berlusconi immediately launched the minimum pensions of one thousand euros, a proposal already in the past relaunched by the Brothers of Italy (to be financed with a cut in citizenship income). The League has already re-proposed Quota 41 (the possibility of going out with 41 years of contributions regardless of age, ed). In the center-left there...

July 25, 2022

News2022, Italy, Pension Reform, Public Pensions

July 2022