News Archives - Page 424 of 957 - Pension Policy International

25MayMay 25, 2022

A Comfortable Retirement Appears Out of Reach for Most in the U.S.

American workers say it will take $1.1 million on average to retire comfortably — but less than one in four figure they’ll be able to save that much. Just 22% of people approaching retirement age said they’ll have enough money to maintain a comfortable standard of living, according to the 2022 Schroders US Retirement Survey, down from 26% a year ago. The survey of 1,000 workers was conducted in mid-February, when the S&P 500 Index was higher than it is...

May 25, 2022

News2022, Pension design, savings, US

25MayMay 25, 2022

UK. Pension transfer red flag warnings hit record high

The rate of potential pension scam warning flags showed no sign of decreasing in April, according to XPS Pension Group’s Scam Flag Index tracker. A record high of 78% of transfers reviewed raised at least one warning sign of potential scam activity, meaning that rates have now risen for the last four consecutive months. The recent fall in the Transfer Value Index also continued to gather pace, with the month-end value at £232,000 ($306,000, €279,000), a 5% drop compared to the...

May 25, 2022

News2022, Transfers, UK

25MayMay 25, 2022

Canada. How employers can design health benefits, retirement plans for gig workers

Whether they’re delivering takeout, chauffeuring passengers, or fixing leaky sinks, most gig workers in Canada don’t get benefits. Classified as independent contractors rather than employees, they’re excluded from employer contributions to Canada Pension Plan and Employment Insurance, they may not be protected under worker’s compensation and they can’t participate in tax-advantaged benefits programs like registered pension plans and employee life and health trusts. Read: Uber Canada sharing details of self-directed benefits fund for gig workers So even if an employer offered dental...

May 25, 2022

News2022, Canada, Informal Sector

25MayMay 25, 2022

Elderly in Ghana: Forgotten or presumed dead?

We live in interesting times. Suddenly, living conditions in many parts of the world have become unbearably harsh and people are agitating for concrete steps to be taken in order to maintain their standard of living. In Ghana, many worker unions have pushed (through demonstrations and strikes) for increases in salaries and allowances that compare with the cost of living or reflect the rate of inflation. Like a big industrial machine, our country has set up a network of systems that...

May 25, 2022

News2022, Aging, Ghana

25MayMay 25, 2022

Greece. First year of pension increases after 12 years

“Next year will be the first year of increasing pensions for the first time, after 12 years,” Deputy Labor and Social Affairs Minister Panos Tsakloglou said in an interview with the Athens-Macedonian News Agency on Sunday, noting that the government has supported the income of pensioners in several ways. Tsakloglou also referred to the challenges he was called to face when he took over the post and focused on the emblematic, as he characterized it, reform in the architecture of...

May 25, 2022

News2022, Greece, Public Pensions

24MayMay 24, 2022

UK. Pensions watchdog warns about climate risk in rebuke of HSBC banker who downplayed danger

UK pension schemes should not ignore climate change, a senior executive at The Pensions Regulator said on Monday, the first watchdog to weigh in after a top HSBC banker was suspended after playing down the financial risks of climate change. Regulators across the world have been putting pressure on the financial services industry to take climate change into account when calculating risks to their business models. Stuart Kirk, a senior HSBC banker in charge of sustainable investments, had said at an...

May 24, 2022

News2022, ESG, Risk, UK

24MayMay 24, 2022

Kenya. Pension bill goes up by Sh40bn in 10 months

Kenya’s pension bill increased by Sh39.5 billion in the 10 months to April, the sharpest growth in five years, highlighting the growing pressure on the Exchequer in paying retired civil servants. The latest data from the Treasury shows that Kenya spent Sh113.72 billion on pensions in the period under review, a 53 percent jump from Sh74.19 billion in the corresponding period last year. This is also the first time that Kenya’s expenditure on pensions in the first ten months of a...

May 24, 2022

News2022, Kenya, Public Pensions

24MayMay 24, 2022

Why ESG reporting needs to balance ‘purpose with profit’ for real impact

ESG investing is increasingly viewed as a lever for delivering value in a turbulent world. But there is a lack of transparency around reporting and companies aren't obliged to change their business practices. Companies need to go well beyond environmental regulatory requirements and drive social impact. The flow of capital towards ESG (environmental, social and governance) oriented funds has rapidly moved from a trickle to a deluge. In the third quarter of 2021 global sustainable funds hit a record high...

May 24, 2022

News2022, ESG, Regulation, Sustainability

24MayMay 24, 2022

Bangladesh. Is a Universal Pension Scheme viable?

The role of an inclusive pension system in any society is increasingly important to ensure that future retirees will have sufficient funding to retain their standard of living at the end of their working life. However, the newly proposed Universal Pension Scheme (UPS) in Bangladesh, result of Awami League's 2018 election manifesto, is simplistic and grossly discriminatory. The scheme does not consider Bangladesh's unique financial and socio-economic context and will create further strain on the government's fiscal management. Even...

May 24, 2022

News2022, Bangladesh, Pension design

24MayMay 24, 2022

Ghana. 4 Bodies Collaborate To Give Drivers Pension & Insurance Package

Westom Insurance Brokers in collaboration with People's Pension Trust (PPT), Prudential life Insurance and Premier Health Insurance has launched a pension and an insurance package for members of the Ghana Private Road Transport Union (GPRTU). Known as the ‘Anidaso Plan’, the package offers three in one Pension/Life insurance/Health Insurance plan to members. It also covers the principal’s immediate dependents, that is, spouse and children. The ‘Anidaso Plan’ is a comprehensive pension and insurance package that has been specially designed to offer...

May 24, 2022

News2022, Ghana, Informal Sector

May 2022