News Archives - Page 423 of 957 - Pension Policy International

30MayMay 30, 2022

Spain: Spending On Pensions Reached A Record 10.81 Billion Euros In May, Up 4.8%

The Social Security allocated a record 10.81 billion euros to the payment of contributory pensions this May, 4.8% more than in the same month of 2021, the Ministry of Inclusion, Social Security and Migration said on Friday. The Department headed by José Luis Escrivá estimates that spending on pensions stood at 11.8% of GDP in the fifth month of the year, a lower percentage than in 2020 (12.4% of GDP), a year conditioned by the impact of the pandemic...

May 30, 2022

News2022, Public Pensions, Spain

30MayMay 30, 2022

UK. DWP shares how people can boost State Pension payments if they reached retirement age on certain dates

The Department for Work and Pensions (DWP) has released new guidance to help certain people increase their State Pension income. If you reached State Pension age between April 6, 2010 and April 5, 2015, but are not receiving or expecting to receive a full basic State Pension, then you may be able to increase the amount you get by paying up to six additional years of voluntary Class 3 National Insurance voluntary contributions for years going back to 1975. This is...

May 30, 2022

Newssavings, System Characterization, UK

30MayMay 30, 2022

India. Donate-a-pension retirement plan finds few takers

The government's Donate-a-Pension initiative to build up a retirement kitty for unorganised workers, including domestic helps, has failed to garner enough responses. The number of beneficiaries enrolled under the Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM) scheme has slowed considerably in fiscal year 2022-23, strengthening the case for a major revamp of the initiative. Only 14,518 unorganised workers enrolled under the scheme between April 1 and May 25, government data showed, bringing average enrolment in a month to a little over 7,000....

May 30, 2022

News2022, India, Informal Sector, Pension design

27MayMay 27, 2022

New measures to support pensioners amid inflation crisis in the UK

Chancellor Rishi Sunak has unveiled a new £15bn emergency package of measures to support households through the cost of living crisis but some pensioners risk missing out. The government said pensioner households will receive an extra one-off Pensioner Cost of Living Payment of £300 to help with their bills and living costs, while more than 8 million low-income households on means tested benefits – which includes those receiving Pension Credit – will receive a one off £650 payment. “While this is...

May 27, 2022

News2022, Inflation, Social Protection, UK

27MayMay 27, 2022

French pensions to be tied to inflation in July, labour minister says

French pensions are to be tied to inflation from this summer in an effort to increase retirees spending power, France’s labour minister Olivier Dussopt has said. “What we want is for this inflation indexation to be valid from July,” he told RTL on Tuesday (May 24). Inflation in France reached 4.8% year-on-year in April, and could rise to 5.4% in June, the national statistics bureau Insee states. “If we take into account an inflation of 4%, for example, for a pension of...

May 27, 2022

News2022, France, Income, Inflation

27MayMay 27, 2022

Many soon-to-be retired Canadians considering changing retirement date

One-third of retired Canadians between ages 55 and 75 have retired sooner than originally planned, according to a recent RBC survey. And while the survey didn't provide insight into why people decided to take advantage of their golden years earlier, Selene Soo, director of wealth insurance at RBC Insurance, offered her guess. "If I had to wager a guess, with the last two years, it could have been that it wasn't of their own choice. Just because of businesses going under,...

May 27, 2022

News2022, Canada, Inflation, Retirement Age

26MayMay 26, 2022

Putin hikes Russian pensions, plays down Ukraine impact on economy

President Vladimir Putin ordered 10% rises on Wednesday in pensions and the minimum wage to cushion Russians from inflation, but denied the country's economic problems were all linked to the war in Ukraine. With annual inflation near 18% last month, the Kremlin leader acknowledged that 2022 would be a "difficult" year for the Russian economy. "When I say 'difficult', it doesn't mean all these difficulties are connected to the special military operation," Putin told a televised meeting of the State Council...

May 26, 2022

News2022, Public Pensions, Russia

26MayMay 26, 2022

UK. Annuities make slow comeback as retirees look for income certainty

After a decline in annuity sales following the pension freedoms, the market seems to have levelled off with purchases accounting for around 10 per cent of total market share, according to the Pensions Policy Institute. A PPI briefing note published yesterday (May 26) showed that the average pot size used for purchasing an annuity has risen to £71,000 from £37,000 in 2015. But in recent years, more pots under £10,000 have been used to buy these products. These small pots accounted...

May 26, 2022

News2022, Income, Payout, UK

26MayMay 26, 2022

Korea Investment Corp. reports 9.13% gain for 2021

Korea Investment Corporation, the Seoul-based sovereign wealth fund, reported a 9.13% investment gain for 2021 on the back of strong equity market returns, ending the year with its portfolio valued at $205 billion. A KIC news release Thursday credited "solid performance and continued asset entrustments by the government" for lifting the fund's portfolio above the $200 billion mark for the first time. A KIC spokeswoman declined to provide details regarding government infusions to the fund over the past year. But a...

May 26, 2022

News2022, Pension Management, South Korea

26MayMay 26, 2022

Swiss regulator urges pension funds to check asset manager licenses

The Swiss occupational pension supervisory commission OAK BV is urging pension institutions including pension funds to check whether external asset managers still need the approval from the Financial Market Supervisory Authority (FINMA) to manage so-called collective assets. According to the Federal Act on Financial Institutions (FinIA), the two categories of managers of collective assets include asset managers of occupational pension schemes and of collective investment schemes. OAK BV is also recommending investment foundations, vested benefit foundations (Freizügigkeitseinrichtung) that receive the benefits...

May 26, 2022

News2022, Pension Management, Regulation, supervision, Switzerland

May 2022